SEOUL, June 27 (Korea Bizwire) — The financial authorities’ latest measures to restrict ballooning household debt are expected to help cool down the overheated housing market in Seoul’s sought-out areas, experts said Friday. The Financial Services Commission (FSC) announced earlier in the day that all local lenders will be forced to sharply lower their household [...]
SEOUL, June 27 (Korea Bizwire) — South Korean venture companies are showing signs of renewed optimism, with overall business sentiment rebounding for the first time in a year, according to data released Thursday by the Korea Venture Business Association. The Venture Business Survey Index (BSI) for the second quarter rose to 89.8, marking an 11.2-point [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s central bank said Thursday it will sell up to 7.2 trillion won (US$5.31 billion) worth of monetary stabilization bonds (MSBs) in July. The planned issuance represents a 600 billion-won increase from a month earlier, according to the Bank of Korea (BOK). As policy tools devised to absorb [...]
SEOUL, June 26 (Korea Bizwire) — Naver Pay, a mobile payment service operated by internet giant Naver Corp., said Thursday it is ready to take a leading role in South Korea’s potential won-based stablecoin market, leveraging its extensive digital finance and wallet infrastructure. “There have been active discussions over the past two weeks, but the [...]
SEOUL, June 26 (Korea Bizwire) — South Korea’s financial investment in the United States surged to an all-time high in 2024, as domestic investors increasingly turned to U.S. stocks and production facilities amid a shifting global economic landscape, data from the Bank of Korea showed Thursday. According to the central bank’s provisional international investment balance sheet, [...]
SEOUL, June 26 (Korea Bizwire) — Nearly two-thirds of South Korea’s self-employed small business owners say their economic conditions have worsened this year, fueling renewed calls for a freeze or even a cut to the minimum wage, according to a new survey that underscores deepening financial pressures on the country’s smallest enterprises. The survey, released [...]
SEOUL, June 26 (Korea Bizwire) — In a year defined by economic uncertainty and global industry shifts, Hyundai Motor Group stood out as South Korea’s most impactful corporate force—fueling growth across sectors and surpassing all other conglomerates in total economic contribution. According to data released Thursday by corporate tracker CEO Score, the automotive giant generated [...]
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. [...]