SEOUL, Nov. 30 (Korea Bizwire) — Dollar deposits by companies at local banks rose at the fastest pace of the year in November as firms accelerated efforts to increase their dollar holdings amid a strengthening U.S. dollar, industry data showed Sunday. Companies’ outstanding dollar deposits at five major commercial banks, including KB Kookmin Bank and [...]
SEOUL, Nov. 28 (Korea Bizwire) — Merchants in Seoul’s historic Namdaemun import market say the sharp fall of the Korean won has pushed them to the brink, driving up wholesale prices and dampening consumer demand as the currency sinks to its weakest level since the 2009 global financial crisis. On Tuesday, the won briefly touched 1,467.7 [...]
SEOUL, Nov. 27 (Korea Bizwire) — South Korea’s average household income rose for the ninth consecutive quarter in the third quarter of this year, partly driven by a sharp increase in transfer income, government data showed Thursday. The average monthly income of households came to 5.44 million won (US$3,699) in the July-September period, up 3.5 [...]
SEOUL, Nov. 27 (Korea Bizwire) — What once felt like the plot of a workplace drama is increasingly echoing real life for many middle-aged South Koreans. In the popular series The Dream Life of Mr.Kim (the story of manager Kim working at a large company in Seoul), a seemingly secure executive finds himself abruptly sidelined and [...]
SEOUL, Nov. 26 (Korea Bizwire) — Finance Minister Koo Yun-cheol said Wednesday that South Korea stands ready to take “decisive action” to curb excessive volatility in the foreign-exchange market, as the won continues to face downward pressure against the U.S. dollar. “The won tends to react more sensitively than other currencies,” Koo told reporters, adding that [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s real estate slowdown has pushed the number of active licensed realtors below 110,000 for the first time in more than five years, as prolonged policy tightening and weak housing demand reshape the industry. According to data released Wednesday by the Korea Association of Realtors, 109,979 real estate agents [...]
ANKARA & SEOUL, Nov. 25 (Korea Bizwire) — President Lee Jae Myung’s recent four-nation trip — anchored by his appearance at the G20 summit in Johannesburg and followed by stops in the United Arab Emirates, Egypt, and Turkey — was less a ceremonial swing through diplomatic capitals than a quiet attempt to reposition South Korea within [...]
SEOUL, Nov. 25 (Korea Bizwire) — South Korean consumer confidence climbed to its highest level in eight years this month, buoyed by easing trade uncertainty and stronger-than-expected economic data, according to a Bank of Korea survey released Tuesday. The central bank’s Composite Consumer Sentiment Index (CCSI) rose to 112.4 in November, up 2.6 points from October [...]
SEOUL, Nov. 24 (Korea Bizwire) — The International Monetary Fund held its forecast for South Korea’s 2025 economic growth at 0.9%, saying the economy has entered a recovery phase in the second half of the year and is positioned for a more meaningful rebound in 2026, according to the finance ministry. The projection is unchanged from [...]
SEOUL, Nov. 24 (Korea Bizwire) — South Korean brokerage houses are expanding their workforces for the first time in three years, buoyed by a roaring stock market and renewed momentum in investment banking and digital services. As of the end of September, the nation’s 60 securities firms employed 39,238 people, up 398, or about 1 percent, [...]