SEOUL, Sept. 30 (Korea Bizwire) — South Korea’s corporate ecosystem has been steadily weakening over the past decade, with fewer employees per company and a rising share of struggling firms unable to cover even their interest payments, a new report shows. According to a study released Sunday by the Korea Chamber of Commerce and Industry [...]
SEOUL, Sept. 29 (Korea Bizwire) — South Koreans believe they will need about 3.5 million won ($2,600) a month to live comfortably in retirement, but most expect to secure only two-thirds of that amount, according to a new survey by KB Financial Group’s research institute. The study, released Sunday, polled 3,000 people aged 25 to [...]
SEOUL, Sept. 25 (Korea Bizwire) — Delinquency rates at South Korea’s major credit card companies hit an 11-year high in the first quarter amid an economic slowdown, the central bank said Thursday. The delinquency rate on loan assets at the major card firms came to 2.3 percent as of end-March, the highest since 2014, according [...]
SEOUL, Sept. 25 (Korea Bizwire) — The likelihood of South Korea facing a debt problem as seen in some European economies remains “limited,” a local analyst said Thursday, dismissing concerns that President Lee Jae Myung’s expansionary fiscal policy may strain the local economy. Ahn Jae-kyun, an analyst at Korea Investment & Securities Co., made the [...]
SEOUL, Sept. 25 (Korea Bizwire) — A top South Korean presidential aide said Wednesday that a potential currency swap with the United States is an essential safeguard in ongoing trade talks, but not sufficient on its own to resolve the thorny negotiations. Kim Yong-beom, presidential chief of staff for policy, told reporters in New York [...]
NEW YORK, Sept. 24 (Korea Bizwire) – President Lee Jae-myung told U.S. Treasury Secretary Scott Bessent that he expects ongoing trade negotiations with Washington to advance in a way that reflects the interests of both countries and rests on “commercial rationality.” The two met in New York on the sidelines of the U.N. General Assembly, [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korea’s economy is expected to rebound in 2026, driven by easing uncertainties and accommodative policies, an official from the International Monetary Fund (IMF) said Wednesday, calling on the country to put in efforts to revitalize domestic consumption and accelerate structural reforms to further boost growth. “Prolonged domestic political [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean regulators said Tuesday they had broken up a sophisticated stock manipulation scheme involving some of the country’s wealthiest business operators and financial insiders, in what is being billed as the first major case under President Lee Jae-myung’s new crackdown on market abuses. The Financial Services Commission, the [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s semiconductor rally is spilling over into smaller suppliers, as investor optimism over improving memory prices boosts not only giants like Samsung Electronics and SK hynix but also makers of materials, components and equipment. On Monday, Samsung Electronics closed up 4.77 percent at 83,500 won, touching an intraday [...]
SEOUL, Sept. 19 (Korea Bizwire) — South Korean civic groups have accused two leading food delivery platforms of unfair and misleading practices tied to their popular “one-person meal” promotions, filing complaints with the Fair Trade Commission (FTC). On Thursday, People’s Solidarity for Participatory Democracy, Lawyers for a Democratic Society (Minbyun), and the Korea Consumer Federation [...]