SEOUL, June 25 (Korea Bizwire) — The Korea Chamber of Commerce and Industry (KCCI) has formally proposed a bold economic blueprint to the new South Korean government, calling for the creation of a $6 trillion Korea-Japan economic union, the large-scale recruitment of skilled foreign labor, and a national pivot toward service-based exports. In a policy [...]
SEOUL, June 25 (Korea Bizwire) — South Korean stocks finished slightly higher Wednesday, tracking overnight U.S. stocks gains boosted by eased Middle Eastern tensions and hopes of an early interest rate cut by the Federal Reserve. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.61 points, [...]
SEOUL, June 24 (Korea Bizwire) — The market capitalization of chip giant SK hynix Inc. surpassed 200 trillion won (US$146.5 billion) for the first time Tuesday amid a rally in the South Korean stock market. Shares of SK hynix were trading at 278,000 won as of 2 p.m., up 7.13 percent from the previous session. [...]
SEOUL, June 24 (Korea Bizwire) – As inflation continues to weigh heavily on South Korean households, major retailers are adopting a “reverse pricing” strategy—setting a target sale price first and working backward to meet it—reshaping how goods are planned, priced, and sold. Rather than determining prices based on production costs and margins, companies like E-Mart, [...]
SEOUL, June 23 (Korea Bizwire) — South Koreans in their 30s to 60s scored an average of 69.9 out of 100 in overall retirement preparedness, reflecting modest improvement over the past five years but revealing persistent disparities across income levels, marital status, and geographic regions. According to a new government-commissioned report released by the Korea [...]
SEOUL, June 21 (Korea Bizwire) — South Korea’s benchmark KOSPI index surged past the 3,000 mark for the first time in three and a half years this week, fueling investor interest in sectors poised to benefit from President Lee Jae-myung’s economic agenda amid intensifying global volatility driven by renewed U.S. protectionism under President Trump. Analysts attribute [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will review the introduction of tighter rules on so-called jeonse loans amid rising household debts. In a report to the State Affairs Planning Committee, the de facto transition team of the new Lee Jae Myung administration, the Financial Services Commission (FSC) said [...]
SEOUL, June 19 (Korea Bizwire) — South Korea’s internet-only lender Kakao Bank said Thursday it has received approval from the Thai government to operate a “virtual bank,” marking the first reentry of a Korean bank into the Thai market in 25 years. The Thai Ministry of Finance recently selected a consortium formed by Kakao Bank [...]
SEOUL, June 19 (Korea Bizwire) — In a milestone for South Korea’s luxury financial market, Hyundai Card has become the first local issuer to launch the American Express Centurion Card—widely known as the “original black card”—marking the domestic debut of a product long reserved for the global ultra-elite. The card, issued exclusively by invitation and [...]
SEOUL, June 19 (Korea Bizwire) — Over half of South Korean companies view economic cooperation with Japan as beneficial and believe it should continue, a survey showed Thursday, as the two nations mark the 60th anniversary of the normalization of diplomatic ties this year. In the poll conducted by the Federation of Korean Industries (FKI) [...]