SEOUL, Jan. 7 (Korea Bizwire) – Finance Minister Koo Yun-cheol said Wednesday that the government’s economic policy for this year will focus on stabilizing people’s livelihoods. “The starting point of a major economic leap forward is a solid foundation for the people’s livelihood,” Koo said while presiding over an inaugural meeting of ministers. The government [...]
SEOUL, Jan. 6 (Korea Bizwire) — The government plans to conduct a trial voyage along Arctic shipping routes from the southeastern port city of Busan to Rotterdam in the Netherlands around September, the acting oceans minister has said. “The government plans to operate a 3,000 twenty-foot equivalent unit (TEU) container ship on a trial run [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s main bourse operator on Monday introduced a series of new review criteria for initial public offerings (IPOs) specifically targeting companies in core technologies, such as artificial intelligence (AI). The Korea Exchange (KRX) said it has completed amending rules on listing regulation enforcement as part of efforts to [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korean investors poured record sums into exchange-traded funds last year, with both retail and foreign investors gravitating toward overseas equity benchmarks and high-growth thematic products, underscoring a broad shift in the country’s investment landscape. According to data released Sunday by financial information provider Yonhap Infomax, individual investors’ most heavily [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s richest business leaders saw a sharp surge in their stock wealth over the past year, lifted by a strong rally in domestic equities, with gains exceeding 35 trillion won ($26 billion) among the heads of the country’s largest conglomerates, according to a new analysis released Monday. A report [...]
SEOUL, Jan. 4 (Korea Bizwire) — Foreign investors’ presence in South Korea’s stock market climbed to its highest level in nearly six years in December, buoyed by a sharp rally in equities and growing optimism about the country’s semiconductor industry. Foreign ownership reached 32.9 percent of total market capitalization, the highest since April 2020, after overseas [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korean stocks climbed to a record close Friday, propelled by heavy buying in large semiconductor names as investors doubled down on bets that artificial intelligence–driven growth will continue to bolster the country’s export engine. The won weakened against the U.S. dollar. The benchmark Korea Composite Stock Price Index jumped [...]
SEOUL, Jan. 2 (Korea Bizwire) — The finance ministry was formally divided into two separate ministries on Friday, with a newly established body taking over the government’s budget planning functions. Under a government reorganization, the ministry was divided into the Ministry of Economy and Finance and the newly established Ministry of Planning and Budget, which [...]
SEOUL, Jan. 2 (Korea Bizwire) — The head of South Korea’s main bourse operator vowed Friday efforts to upgrade the country’s capital market by extending trading hours and strengthening crackdowns on unfair trading practices. Jeong Eun-bo, the chairman of the Korea Exchange (KRX), made the remarks at an event celebrating the first trading day of [...]
SEOUL, Dec. 31 (Korea Bizwire) — A broader swath of South Korean companies will soon be required to file regulatory disclosures in English, a move aimed at opening the country’s capital markets further to foreign investors, even as a newly enacted pro-labor law is set to raise compliance risks for businesses. Beginning May 1, the Financial [...]