SEOUL, Sept. 15 (Korea Bizwire) – Prime Minister Lee Nak-yon met with the governor of the U.S. state of Wisconsin on Friday and discussed trade and economic cooperation, including the free trade pact between the two countries, Lee’s office said. Gov. Scott Walker has been on a four-day visit to South Korea since Wednesday, leading [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top steelmaker POSCO and leading chemicals manufacturer LG Chem have seen their market value surge during this year’s stock rally driven by large caps, data showed Thursday. POSCO’s market capitalization stood at 29.1 trillion won (US$25.8 billion) as of Wednesday, ranking fourth among the top 30 companies [...]
SEOUL, Sept. 14 (Korea Bizwire) – South Korea’s top economic policymaker on Thursday expressed concerns that ballooning household debt may narrow room for policy maneuvering in Asia’s fourth-largest economy when interest rates rise, while downplaying the chance of high household debt posing a threat to the overall economy. “The risk of massive household debt will [...]
SEOUL, Sept. 14 (Korea Bizwire) – KB Financial Group Inc.’s chairman nomination committee said Thursday it named current chairman Yoon Jong-kyoo the sole candidate for next chairman. Yoon, has held the post since 2014, became the sole candidate as two other rivals dropped out of the race. Yoon, 62, started his career at the Korea [...]
SEOUL, Sept. 14 (Korea Bizwire) – A job expo for the financial services industry on September 13 attracted throngs of young men and women in their finest, some lining up hours before the event opened to get a chance for an interview with one of the top 6 banks (Kookmin, Shinhan, KEB Hana, Woori, Nonghyup [...]
SEJONG, Sept. 14 (Korea Bizwire) – Glimpses of the future – 57 to be exact – were distributed by the Ministry of Land, Infrastructure and Transport to regional (metropolitan, provincial and special) governments on September 14. President Moon’s “New Deal”, a promise of urban renewal, was one of his core campaign proposals, and the 57 [...]
SEOUL, Sept. 13 (Korea Bizwire) – A recent study has revealed that South Koreans in their thirties are concerned about their longevity, and are highly interested in pension insurance products, but are not as financially prepared as individuals in other age groups. According to a survey conducted on September 13 by the Korea Insurance Development [...]
SEOUL, Sept. 13 (Korea Bizwire) – The average salary of workers at conglomerates in South Korea is over three times higher than those working at a small-sized companies, a new study has claimed. Findings from a study on wage gaps between companies conducted by researcher Roh Min-sun at the Korea Small Business Institute show the [...]
SEOUL, Sept. 13 (Korea Bizwire) – South Korea’s dependency on the information and communication technology (ICT) industry for its output is nearly twice the average for major industrialized economies, a report said Wednesday. South Korea’s ICT sector accounts for 10.7 percent of the country’s gross value added, or the value of goods and services produced [...]
SEOUL, Sept. 13 (Korea Bizwire) — Foreign investors offloaded South Korean stocks and bonds worth US$3.25 billion in August due to security jitters and profit-taking, the central bank said Wednesday. Foreign investors sold local stocks and bonds worth $1.33 billion and $1.91 billion, respectively, the Bank of Korea (BOK) said. It marked the first sell-off [...]