SEOUL, April 25 (Korea Bizwire) – The Korea Exchange (KRX) will develop its own smart beta indices in partnership with Standard and Poor’s (S&P), one of the Big Three credit-rating agencies based in New York. The KRX revealed on April 24 that it clinched a deal with S&P in a joint venture to develop new [...]
SEOUL, April 24 (Korea Bizwire) – South Korean households’ debts owed to the nonbanking sector spiked over the past two months, suggesting that those with low credit ratings opted to borrow money despite relatively higher interest, central bank data showed Sunday. According to the data by the Bank of Korea, the outstanding household debts owed [...]
SEOUL. April 24 (Korea Bizwire) – South Korea’s top 10 conglomerates have increased their cash reserves over the past year. According to a study conducted by progressive civic groups, the combined retained earnings of the top 10 Korean chaebols (conglomerates) increased about 9 percent to 550 trillion won in the past year. The civic groups [...]
SEOUL, April 24 (Korea Bizwire) – About 1 out of 6 young workers in South Korea were paid less than the country’s minimum wage last year, a private think tank said Sunday, pointing to tough working conditions facing young adults already struggling with high unemployment. According to the report by the Hyundai Research Institute, some [...]
SEOUL, April 21 (Korea Bizwire) – Hyundai Heavy Industries Co., the world’s largest shipbuilder by order backlog, will cut more than 10 percent of its workforce this year as part of its restructuring efforts, industry sources said Thursday. The Ulsan, South Korea-based shipbuilder is planning to announce its detailed self-help measures, including the planned job [...]
SEOUL, April 20 (Korea Bizwire) – With many Koreans enjoying online shopping overseas, the number of consumers issued customs clearance codes for overseas direct purchases has tripled in the past year. To purchase goods directly from overseas online retailers, some 3.38 million Koreans had been issued personal customs clearance codes as of February 2016. According [...]
SEOUL, April 19 (Korea Bizwire) — For smartphone users, one of the most onerous burdens is the fees charged for data use. When consumers select their rate plans, the first thing they tend to look into is how much data is available with various plans at different price points. In this regard, the South Korean [...]
SEOUL, April 18 (Korea Bizwire) – Household loans extended by local banks rose at a fast clip in March due to a large increase in mortgage loans, central bank data showed Monday. Outstanding household loans extended by lenders here came to 649 trillion won (US$564.2 billion) as of end-March, up 4.9 trillion won from the [...]
SEOUL, April 18 (Korea Bizwire) – Samsung Group slashed more than 10,000 jobs last year, the biggest cuts among South Korea’s top 30 conglomerates, according to data from CEO Score, a market research firm. While many of the job losses resulted from the sale of Samsung’s petrochemical and defense businesses, the nation’s largest company is [...]
SEOUL, April 15 (Korea Bizwire) – Investors have pumped in more cash in bond funds than stock funds so far this year as they seek more stable returns, a fund rating and consulting company said Friday. Domestic bond-focused funds have seen a cash inflow of 1.37 trillion won (US$1.2 billion) this year through April 12, KG Zeroin [...]