SEOUL, Dec. 17 (Korea Bizwire) — The number of newly established companies rose to a record high last year, but in-person service segments reported a sharp fall in new businesses due to the pandemic, data showed Friday. Last year, the number of newly created firms reached a record 1.06 million, up 62,000, or 6.2 percent, [...]
SEOUL, Dec. 16 (Korea Bizwire) — South Korean construction companies’ sales dropped on-year in 2020 for the first time in 21 years due to the coronavirus pandemic, government data showed Thursday. The combined top line of local builders reached 396.9 trillion won (US$336 billion) last year, down 1.1 percent from the previous year, according to [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korea’s major commercial banks have launched a series of video consultation windows, enabling customers to enjoy a variety of banking services through video consultations with bank specialists. Woori Bank opened its video consultation window ‘digital desk’ on Monday. For those who visit the bank’s branches, the digital desk’s [...]
SEOUL, Dec. 12 (Korea Bizwire) — The South Korean economy is expected to expand 2.8 percent on-year in 2022, slower than this year’s projected 3.9 percent growth, amid weaker private consumption and global demand, a local think tank said Sunday. The projection by the LG Economic Research Institute (LGERI) is lower than that by the [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korean stocks are likely to undergo volatility next week due to uncertainty about the U.S. Federal Reserve’s monetary policy meeting and the latest spike in COVID-19 cases, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 3,010.23 points Friday, up 1.41 percent from 2,968.33 [...]
SEOUL, Dec. 10 (Korea Bizwire) — Hanwha Engineering and Construction Corp. has been picked as the preferred bidder for a project to build a new major sports and convention industry complex in southeastern Seoul, the city government announced Friday. Seoul aims to develop some 350,000 square meters around Jamsil Sports Complex in Seoul’s southeastern Songpa [...]
SEOUL, Dec. 9 (Korea Bizwire) — With financial regulators placing bigger emphasis on strengthening consumer protection, Hyundai Motor Group’s two affiliates have set up a special artificial intelligence (AI)-based system to prevent the so-called ‘incomplete sale’ of financial products. Hyundai Card Co., a leading credit card issuer in South Korea, said Wednesday that it had [...]
SEOUL, Dec. 8 (Korea Bizwire) — Amid dampened consumer sentiment caused by the COVID-19 pandemic, ‘recession-type’ credit cards that offer generous rewards in return for a low annual fee and minimal usage record are enjoying rising popularity. According to the credit card comparison website CardGorilla, half of the 10 most popular credit cards among those [...]
SEOUL, Dec. 6 (Korea Bizwire) — South Korean retail investors have been snapping up shares of electric vehicle-themed exchange traded fund (ETF) while dumping shares of Samsung Electronics Co. and SK hynix Inc., data showed Sunday. The most-sold stocks by retail investors during the five weeks from Nov. 1 to Dec. 3 were the two [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korean stocks are likely to continue to face volatility next week as investors take to the sidelines amid the spreading omicron strain of the coronavirus. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,968.33 points Friday, up 1.09 percent from 2,936.44 points a week ago. The [...]