SEOUL, June 19 (Korea Bizwire) — The Bank of Korea has warned that continued efforts to stimulate construction investment through non-capital region housing projects may be exacerbating the nation’s widening housing market divide, rather than resolving it. In a report released Wednesday, the central bank argued that building new homes in low-demand regions outside the [...]
SEOUL, June 18 (Korea Bizwire) — The Bank of Korea has raised alarm over South Korea’s persistently high cost of essential goods, warning that it is outpacing both inflation and global averages, and is stifling consumer spending—particularly among low-income households. In a report released Wednesday, the central bank found that from the onset of the [...]
SEOUL, June 18 (Korea Bizwire) — South Korean stocks closed higher for the third consecutive session Wednesday, led by big gains in market heavyweight Samsung Electronics and IT shares. The local currency was trading lower against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 21.89 points, or 0.74 percent, to end [...]
SEOUL, June 18 (Korea Bizwire) – Essential living costs in South Korea are significantly higher than those in other major nations, hindering the recovery of consumer spending, the central bank said Wednesday. South Korea’s price indices for food, clothing and housing stood at 151, 161 and 123, respectively, based on the average price level of [...]
SEOUL, June 18 (Korea Bizwire) – South Korea’s financial regulator has issued a consumer alert warning the public about a rise in fraudulent schemes involving fake promises of imminent stock market listings—an increasingly sophisticated scam targeting retail investors amid the country’s recent market rebound. According to the Financial Supervisory Service (FSS), scam operators are falsely [...]
SEOUL, June 17 (Korea Bizwire) — On a weekday, a real estate agency in Seoul’s Mapo District was juggling multiple phone inquiries from prospective homebuyers but had little to offer, largely due to recent price hikes that encouraged home owners to withdraw their offerings in hope of further increases. “We are getting inquiries from over [...]
SEOUL, June 17 (Korea Bizwire) — A new report warns that South Korea’s elderly population faces a growing “double burden” as rising health insurance premiums and income taxes increasingly eat into public pension payouts, significantly reducing retirees’ real disposable income. According to a study released Tuesday by the National Pension Research Institute, the 2022 overhaul of [...]
SEOUL, June 16 (Korea Bizwire) — South Korean stocks soared to the highest mark in over three years Monday, driven by big gains in the defense, energy and IT sectors. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 52.04 points, or 1.8 percent, to end at [...]
SEOUL, June 16 (Korea Bizwire) — The Seoul Metropolitan Government announced new measures on Sunday to enhance oversight of real estate transactions involving foreign nationals, aiming to address rising concerns over transparency, market disruption, and perceived unequal treatment of domestic buyers. As foreign ownership of property in South Korea increases, Seoul officials plan to scrutinize sources [...]
SEOUL, June 16 (Korea Bizwire) — Global investors are showing renewed confidence in South Korea’s stock market, with over ₩1 trillion (US$770 million) pouring into the iShares MSCI Korea ETF (ticker: EWY) this month alone—the highest monthly inflow in 18 months. The U.S.-listed exchange-traded fund, which offers global investors passive exposure to Korea’s leading equities, has [...]