SEOUL, Aug. 8 (Korea Bizwire) – As South Korea’s aging population rapidly expands, a government-funded research institute is warning that the country’s age-friendly industry is failing to keep pace, potentially missing out on a significant economic opportunity. The Korea Institute for Industrial Economics and Trade (KIET) released a report on August 7 highlighting the disconnect between [...]
SEOUL, Aug. 5 (Korea Bizwire) – South Korean stocks tumbled by the most on record to a near nine-month low Monday amid intensifying fears over a U.S. economic slowdown, with big tech coming under heavy selling. The Korean won fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) plummeted a record [...]
SEOUL, Aug. 4 (Korea Bizwire) – China has once again become the leading destination for South Korean products in the first seven months of this year, driven by increasing demand for semiconductors, data showed Sunday. Exports to China surged 14.9 percent year-on-year to $11.4 billion in July, marking the highest monthly total in nearly two [...]
ROME, Aug. 1 (Korea Bizwire) — A Montenegrin appeals court ruled Thursday that South Korean crypto entrepreneur Do Kwon should be extradited to his home country, a decision that allows for him to face trial back home over a massive crypto crash. The appeals court announced on its web page that it finalized the Podgorica [...]
SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s inflation picked up pace in July on high prices of fruits and petroleum products, though it stayed below 3 percent for the fourth consecutive month, data showed Friday. Consumer prices, a key gauge of inflation, rose 2.6 percent on-year last month, compared with a 2.4 percent increase [...]
SEOUL, Jul. 23 (Korea Bizwire) — The founder of South Korean tech giant Kakao Corp. was arrested Tuesday on charges of stock price manipulation related to the firm’s takeover of K-pop powerhouse SM Entertainment last year, prosecutors said. The Seoul Southern District Court issued an arrest warrant for Kim Beom-su after holding a hearing, which [...]
SEOUL, Jul. 22 (Korea Bizwire) — Kim Beom-su, the founder of Kakao Corp., was to attend a court hearing Monday on an arrest warrant requested for him over alleged stock price manipulation related to the firm’s takeover of K-pop powerhouse SM Entertainment last year. The Seoul Southern District Court was scheduled to hold a hearing [...]
SEOUL, Jul. 17 (Korea Bizwire) — Prosecutors have sought a warrant to arrest Kim Beom-su, the founder of tech giant Kakao Corp., over alleged stock price manipulation connected to the firm’s takeover of K-pop powerhouse SM Entertainment last year, officials said Wednesday. The Seoul Southern District Prosecutors Office filed for the warrant, the officials said, [...]
SEOUL, Jul. 12 (Korea Bizwire) — The economic recovery in South Korea has strengthened on solid exports, the manufacturing sector, and domestic demand showing signs of recovering, the finance ministry said Friday. The Ministry of Economy and Finance made the assessment in the Green Book, its monthly economic assessment report, while pointing to prolonged geopolitical [...]
SEOUL, Jul. 11 (Korea Bizwire) –The Organization for Economic Cooperation and Development (OECD) called on South Korea on Thursday to introduce tighter fiscal rules and maintain a restrictive policy as its budget is projected to remain in deficit through next year and rapid aging would add longer-term pressure. “The budget is projected to remain in [...]