SEOUL, Dec. 7 (Korea Bizwire) — South Korean banknotes saw their lifetimes increase on-year in 2022 as people use less cash and depend more on credit cards and internet banking for transactions, a central bank report showed Wednesday. According to the report from the Bank of Korea (BOK), the country’s smallest denomination bills, 1,000-won notes, [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea is experiencing sluggish exports and record trade deficit over a global economic slowdown, and intertwined challenges both at home and abroad further dimmed prospects for a turnaround anytime soon, experts said Sunday. The country’s exports fell 14 percent on-year to come to US$51.91 billion in November, the [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean institutions’ investment in foreign securities shrank 5 percent in the third quarter due to estimated losses from their bond and stock holdings, central bank data showed Friday. The outstanding value of foreign securities held by local institutional investors stood at US$354.93 billion as of end-September, down $18.69 [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korea will push to change regulations in a way that would allow investors to know how much they would receive in dividends before buying stocks in a bid to attract more foreign investment in the local equity market, a senior official of the country’s top financial regulator said [...]
SEOUL, Nov. 28 (Korea Bizwire) — The number of residential properties whose ownership changed due to forced sale by auction marked a sharp increase this year compared to a year ago. According to the Supreme Court, the number of apartments, villas and residential officetels whose ownership shifted due to forced sale by auction stood at [...]
SEOUL, Nov. 27 (Korea Bizwire) — Nearly 60 percent of economic and financial experts worry that South Korea could face a financial crisis in the short term amid concerns that spiking borrowing costs could weigh on businesses and households, a central bank survey showed Sunday. According to the survey that the Bank of Korea (BOK) [...]
SEOUL, Nov. 25 (Korea Bizwire) — Chang Hyun-guk, CEO of Korean game publisher Wemade Co., said Friday that he will take legal action against the recent decision to delist its cryptocurrency Wemix from major crypto exchanges in South Korea. The move came a day after the Digital Asset eXchange Association — an alliance formed by [...]
SEOUL, Nov. 24 (Korea Bizwire) — Woori Bank, one of South Korea’s largest commercial banks, said Wednesday it will be releasing a new installment savings plan that will provide a high annual interest rate of up to 11 percent for those who walk more than 10,000 steps a day. The availability of this installment savings [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korea’s bourse operator has launched a probe into two foreign brokerages on suspicions that they might have improperly affected stock prices through massive trading ahead of a global index rebalancing last year, market sources said Wednesday. The Korea Exchange (KRX) is looking into whether those firms — Morgan [...]
SEOUL, Nov. 22 (Korea Bizwire) — The lower income tier spent more than half of its disposable income on food in the third quarter of this year, with consumers directly exposed to surging prices, the statistics agency said Monday. Statistics Korea’s Household Income and Expenditure Survey showed that households located in the lower 20 percent [...]