SEOUL, June 18 (Korea Bizwire) — South Koreans’ combined purchase of the Japanese currency at local banks jumped nearly fivefold in May from a year earlier, data showed Sunday, as more people took advantage of a weaker yen. The amount of Japanese currency sold at the country’s four major banks came to 30.16 billion yen [...]
SEOUL, June 11 (Korea Bizwire) — South Korean tech giant Samsung Electronics Co. was the most preferred stock as gifts among domestic investors last month, a local brokerage analysis showed Sunday. Shares in Samsung Electronics topped gifting stock services of the home trading and mobile trading systems operated by the country’s seven securities companies in [...]
SEOUL, June 2 (Korea Bizwire) — South Korean banks saw their first-quarter net profit rise 24 percent from a year earlier on higher interest and non-interest income, preliminary data showed Friday. Their combined net profit came to 7 trillion won (US$5.4 billion) in the January-March period, up from 5.6 trillion won tallied a year ago, [...]
SEOUL, May 29 (Korea Bizwire) — South Korea’s household debt-to-gross domestic product (GDP) ratio stood at the highest level among 34 major economies in the first quarter, global financial data showed Monday. The ratio stood at 102.2 percent in the January-March period, followed by Hong Kong with a ratio of 95.1 percent, Thailand with 85.7 [...]
SEOUL, May 29 (Korea Bizwire) — Foreign purchases of South Korean tech and auto stocks have reached over 16 trillion won (US$12 billion) so far this year, according to the Korea Exchange on Monday. Foreigners bought 16.45 trillion won worth of Samsung Electronics Co., Hyundai Motor Co. and other related stocks this year through May [...]
SEOUL, May 23 (Korea Bizwire) — South Korea’s state pension operator saw its returns fall to a record low level in 2022, data showed Tuesday, due to the instability in the global financial market amid monetary tightening moves. The National Pension Service (NPS) logged negative returns of 8.28 percent in 2022, marking the lowest level [...]
SEOUL, May 21 (Korea Bizwire) — According to a recent study by Hanwha Life Insurance, the wealthiest individuals in South Korea possess rapidly growing assets, highlighting significant income inequality within the country. As of 2021, the top 0.1 percent of South Koreans boasted a net worth exceeding 7.68 billion won, while the top 1 percent [...]
SEOUL, May 20 (Korea Bizwire) — Foreign investors have scooped up more than 10 trillion won (US$7.52 billion) worth of Korean stocks so far this year on eased uncertainties and a rosy outlook for the chipmaking sector, data showed Saturday. According to the data compiled by the Korea Exchange, foreigners’ net buying of Korean stocks [...]
SEOUL, May 18 (Korea Bizwire) — Affordable and convenient food options are gaining popularity during lunchtime due to the increasing cost of eating out. Gimbap and boxed lunches have become popular choices among convenience foods, thanks to their convenience and reasonable prices. Recent data from convenience store CU reveals that Gimbap holds the highest sales [...]
SEOUL, May 17 (Korea Bizwire) —Yogiyo made an announcement on Wednesday about the introduction of YogiPassX, which is the first subscription service in the industry that offers unlimited delivery services for a fixed fee. This move comes as consumers are increasingly reducing their usage of delivery apps due to the rising costs associated with deliveries. [...]