SEOUL, July 31 (Korea Bizwire) — The number of damaged banknotes found in South Korea grew slightly from a year earlier in the first six months of the year, with some people trying to sanitize their money, apparently using the wrong methods, amid fears of the new coronavirus, central bank data showed Friday. In the [...]
SEOUL, July 30 (Korea Bizwire) — South Korea has reported a surplus in trade with countries with which it signed free trade pacts, data showed Thursday, in a sign that such deals help Seoul cushion the negative impact of the coronavirus pandemic. According to the data by the Korea Customs Service (KCS), South Korea posted [...]
SEOUL, July 29 (Korea Bizwire) — Naver Inc., South Korea’s largest internet portal operator, is making bigger forays into the e-commerce and fintech markets by introducing a new loan service for small vendors operating in the company’s online shopping portal. Naver Financial Corp., the financial arm of Naver, said Tuesday it will introduce a new [...]
SEOUL, July 27 (Korea Bizwire) — Estimated financial losses caused by the new coronavirus in the areas of culture, sports and tourism in South Korea have reached over 7 trillion won (US$5.84 billion), according to the government Monday. In a report submitted to the National Assembly’s culture, tourism and sports committee, the culture ministry estimated [...]
SEOUL, July 27 (Korea Bizwire) — The South Korean economy’s dependence on Japan has been on a downward trend since Japan imposed export restrictions against South Korea in July 2019, the country’s leading business lobby group said Sunday. The share of imports from Japan among overall South Korean imports fell from 9.8 percent in Q1 [...]
SEOUL, July 26 (Korea Bizwire) — Korea Investment Corp. (KIC), South Korea’s US$157 billion sovereign wealth fund, is seeking to buy commercial properties in Europe and China, the company’s top executive has said, in what could be its latest alternative investments. “We are considering making investments one each in Europe and in China,” KIC Chairman [...]
SEOUL, July 22 (Korea Bizwire) — Foreign investors have turned to net buyers of top-cap Samsung Electronics Co. this month following months of massive selling, data showed Wednesday. Offshore investors’ net purchase of Samsung shares stood at 1.07 trillion won (US$900 million) in the first 21 days of July, making the tech giant their most-bought [...]
SEOUL, July 21 (Korea Bizwire) — South Korea has seen a spike in the number of listed firms that have decided to buy back their own shares this year to stabilize share prices amid the coronavirus fallout, data showed Tuesday. The data from the Korea Exchange showed 552 companies listed on the country’s main and [...]
SEOUL, July 20 (Korea Bizwire) — South Korean households’ debt is one of the world’s highest when compared to the country’s economic size while its debt grew at one of the highest rates in the first three months of the year, a report showed Monday. As of end-March, South Korea’s household debt came to 97.9 [...]
SEOUL, July 18 (Korea Bizwire) — SK Biopharmaceuticals Co. Ltd., a unit of South Korean conglomerate SK Group, is likely to be added to the list of 200 major stocks listed on the main bourse in September, as its market capitalization has run high for a certain period after its market debut, industry sources said [...]