SEOUL, Nov. 3 (Korea Bizwire) — Samsung BioLogics, a biopharmaceutical unit of Samsung Group, and Doosan Bobcat Co., an affiliate of power equipment conglomerate Doosan Group, are set to make their market debuts this month, which some analysts say may help the local stock market recover from a recent market turmoil. Last week, Samsung BioLogics, [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s political uncertainties over an unfolding influence-peddling scandal could increase downside risks to the country’s economic growth, a report said Wednesday. Citigroup said the scandal involving President Park Geun-hye’s longtime confidante could shrink consumer sentiment, which in turn could further slow the economic growth rate in the fourth [...]
SEOUL, Nov. 2 (Korea Bizwire) – The latest report from the Korea Capital Market Institute (KCMI) revealed that the Q2 2016 balance of overseas stock investment by domestic residents was $159.3 billion, an almost four-fold increase since Q1 2009, shortly after the 2008 financial crisis. According to the institute, the trend was largely driven by [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s top financial regulator, nominated to lead the finance ministry, on Wednesday vowed to make all-out efforts to address the household debt problem. Yim Jong-yong, chairman of the Financial Services Commission (FSC), described it as a potential “core risk factor” especially as South Korea may have to raise [...]
SEOUL, Oct. 31 (Korea Bizwire) – The number of employees in the financial sector has declined in 16 consecutive months, mainly driven by the fast expanding usage of FinTech, lowering demand for conventional employees such as bank tellers. According to a recent report from the Ministry of Employment & Labor, the number of employees in [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities are looking into whether a local bank has extended preferential loans to the daughter of President Park Geun-hye’s friend at the heart of a massive influence-peddling scandal, officials said Monday. Chung Yoo-ra, a college student, is alleged to have taken out foreign exchange loans with [...]
SEOUL, Oct. 31 (Korea Bizwire) – South Korea’s financial authorities said Monday they will scrutinize the financial health and risk factors of major builders in a move to brace for a downturn in the construction business. The authorities are set to look into the financial health of construction companies based on their semiannual reports while [...]
SEOUL, Oct. 31 (Korea Bizwire) – A recent study from the Seoul Institute indicated that although the city’s consumer sentiment improved slightly in the third quarter, the market’s expectations for economic recovery were further downgraded. In its report 2016 Q3 Seoul Public Economy Consumer Sentiment Diagnosis (issued October 30), the city’s consumer sentiment index (CSI) [...]
SEOUL, Oct. 31 (Korea Bizwire) – More South Koreans have canceled their installment savings accounts before maturity this year, industry data showed Monday, an apparent sign that an increasing number of ordinary people are feeling the pinch from the country’s sluggish economy. The early cancellation rate of installment savings accounts at Shinhan, KB Kookmin, KEB [...]
BUSAN, Oct. 26 (Korea Bizwire) – Korea Maritime and Ocean University announced on Wednesday that it is building modular dormitories using shipping containers as a solution to its housing shortage, the first of its kind to be established in the country. Modular container houses take advantage of the durability, low cost, and rapid construction resulting [...]