SEOUL, Nov. 3 (Korea Bizwire) — After a steep rally followed by a sharp correction, global gold prices appear to be stabilizing and preparing for another climb, analysts said Sunday. According to data from the Chicago Mercantile Exchange’s COMEX market, December gold futures closed at $4,013.40 per ounce on October 31, down 0.06 percent from the [...]
SEOUL, Oct. 31 (Korea Bizwire) – Global investment banks assessed Friday that the trade deal reached between Seoul and Washington this week has eased uncertainties and is expected to provide an upward momentum to the South Korean stock market. On Wednesday, U.S. President Donald Trump agreed to reduce “reciprocal” tariffs on South Korea to 15 [...]
SEOUL, Oct. 31(Korea Bizwire) — South Korea is set to launch its first interbank-style foreign exchange brokerage platform for institutional clients, allowing companies, pension funds, and asset managers to compare multiple bank quotes in real time and trade at the most favorable rates. FXONE, the nation’s first customer-facing foreign exchange brokerage firm, held its inaugural general [...]
SEOUL, Oct. 30 (Korea Bizwire) – South Korea began exporting its premium “hanwoo” beef to the United Arab Emirates on Thursday, making the Middle Eastern country the fifth official overseas destination for the prized meat, the agriculture ministry said. The government shipped about 1.5 tons of hanwoo worth 250 million won (US$175,426) to the UAE [...]
SEOUL, Oct. 30 (Korea Bizwire) — A fierce contest has erupted among major financial institutions and fintech startups in South Korea as they vie for preliminary approval to operate the country’s first licensed trading platforms for fractional investments. According to industry sources, three consortiums have submitted applications ahead of the October 31 deadline, with the [...]
SEOUL, Oct. 30 (Korea Bizwire) — South Korea’s financial authorities are moving to tighten oversight of insurance agents in an effort to curb their involvement in fraud, introducing measures that would mandate pre-screening and expand public disclosures of disciplinary records. The Financial Services Commission said Wednesday it discussed the reforms during a meeting of the Insurance [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s auto industry breathed a sigh of relief on Wednesday after the United States agreed to lower tariffs on Korean vehicles, a move that removes a major trade irritant and strengthens a deal underpinning Seoul’s $350 billion investment pledge in the American economy. The announcement followed a summit between [...]
GYEONGJU, South Korea, Oct. 29 (Korea Bizwire) – South Korea and the United States announced a finalized tariff agreement on Wednesday, ending months of contentious negotiations and signaling a deepening phase in their industrial partnership. President Lee Jae Myung and President Donald Trump confirmed the deal during talks held on the sidelines of the Asia-Pacific Economic [...]
SEOUL, Oct. 29 (Korea Bizwire) – South Korean stocks set a fresh record high Wednesday on hopes for the Seoul-Washington summit and a potential supply deal with Nvidia. The local currency was trading higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 70.74 points, or 1.76 percent, to close at [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea has convened labor, business and government representatives to pursue the first major overhaul of the nation’s retirement pension system in more than two decades, aiming to strengthen income security for an aging workforce. The Ministry of Employment and Labor on Tuesday launched a tripartite task force dedicated to [...]