SEJONG, Jan. 3 (Korea Bizwire) – South Korea’s economic growth is not creating as many jobs as before, government analysis indicated Tuesday, saddling the country with bad news when growth projections are being marked down. Numbers provided by the Ministry of Strategy and Finance and Statistics Korea show the government expects 2.6 percent economic expansion [...]
SEOUL, Jan. 2 (Korea Bizwire) – Starting Monday, consumers will have more options available when they search for car insurance on Boheom Damoa (e-insmarket.or.kr), a comparison website for various insurance products (including car, health, travel, etc.). According to the Financial Services Commission, the website, which in the past only allowed insurance premium comparisons for domestic [...]
SEOUL, Jan. 2 (Korea Bizwire) – Private investors were the big losers in last year’s stock market, a contrast to institutional and foreign investors that ended the year on the plus side, financial industry data showed Monday. The top 20 most-purchased stocks by private investors in the main bourse KOSPI ended 33.07 percent down by [...]
SEOUL, Dec. 30 (Korea Bizwire) – Forty-two percent of South Korean households believe their economic conditions will deteriorate next year, according to a survey by Gallup Korea released Friday. The survey suggested that South Korea’s consumer confidence has sharply eroded amid uncertainties in the troubled shipping and shipbuilding sectors, and an ongoing influence-peddling scandal involving [...]
SEOUL, Dec. 29 (Korea Bizwire) – South Korea said Thursday it will revise regulations on the capital market in a bid to foster mega-sized investment banks (IBs) here modeled after Goldman Sachs. The Financial Services Commission (FSC) notified the public of the revision plan in which local brokerages with a huge capital base will be [...]
SEOUL, Dec. 29 (Korea Bizwire) – The government said Wednesday that it plans to spend 4.22 trillion won (US$3.48 billion) to upgrade seaport facilities and strengthen logistics functions on the country’s southern resort island of Jeju and the eastern port city of Donghae. According to the Ministry of Ocean and Fisheries, a total of 2.45 [...]
SEOUL, Dec. 29 (Korea Bizwire) – Mobile stock trading in South Korea has soared more than 30 percent in 2016 from a year ago, helped mainly by brokerages’ stepped-up marketing for smartphone users, data showed Thursday. According to the data by the Korea Exchange, a daily average of 250.5 million shares were traded via the [...]
SEOUL, Dec. 26 (Korea Bizwire) – Doosan Heavy Industries & Construction Co., South Korea’s top power equipment maker, said Monday that it has won an order, potentially worth over 2.7 trillion won (US$2.25 billion), to build two thermal power plants in India. The company has yet to officially sign the deal but said it has [...]
SEOUL, Dec. 26 (Korea Bizwire) – The implementation of flextime – a workplace arrangement that allows employees to choose their working hours – is quickly expanding across the local banking industry. KB Kookmin Bank currently has 45 branches that have adopted a flextime system, allowing employees to delay their work hours by an hour or [...]
SEOUL, Dec. 26 (Korea Bizwire) – Major insurance companies in South Korea are increasing their capital to prepare for new accounting rules set to take effect next year and more U.S. rate hikes, industry sources said Monday. Local insurance companies are estimated to expand their capital by a combined 1.41 trillion won (US$1.17 billion) this [...]