SEOUL, Feb. 27 (Korea Bizwire) — The potential uncollected loans by four major financial holding firms jumped 49 percent on year in 2023, as high interest rates took a toll on borrowers, data showed Tuesday. The value of potential uncollected loans came to 1.96 trillion won (US$1.47 billion) in 2023, up 48.8 percent from the [...]
SEOUL, Feb. 26 (Korea Bizwire) — The financial regulator said Monday that it will work to incentivize efforts by local businesses to enhance their own value that will in turn lead to increased returns to investors. The move comes as part of efforts to end the “Korea Discount,” where local shares are traded at prices [...]
SEOUL, Feb. 26 (Korea Bizwire) – Amidst the ongoing economic challenges marked by high inflation and interest rates, recent data has revealed that individuals in their 30s and 40s who have taken on debt to purchase homes are the ones who have most drastically cut back on their spending following the rise in interest rates. A [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s producer prices rose for the second consecutive month in January, driven in part by soaring prices in agricultural goods and service fees, central bank data showed Wednesday. The producer price index, a major barometer of consumer inflation, increased 0.5 percent in January from a month earlier, following [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s consumer sentiment rose for a third consecutive month in February amid moderating inflation, a recovery in exports and hopes for an end to the Federal Reserve’s rate hikes, a central bank poll showed Tuesday. The composite consumer sentiment index stood at 101.9 in February, up from 101.6 [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korea’s import prices rebounded in January from a two-month decline due to a rise in oil prices, central bank data showed Friday. The import price index rose 2.2 percent last month from a month earlier following a 1.7 percent on-month dip the previous month, according to the preliminary [...]
SEOUL, Feb. 16 (Korea Bizwire) — The South Korean economy has recovered centering on the manufacturing field, but private consumption and construction investment remained weak leading to widening disparities among sectors, the finance ministry said Friday. “Growing production and exports of the manufacturing sector have led an economic recovery recently amid moderating inflationary pressure,” the [...]
SEOUL, Feb. 15 (Korea Bizwire) — The Seoul government and five major banks here plan to provide nearly 76 trillion won (US$56.9 billion) this year to help local businesses invest in new advanced technologies and lower their financial burdens, the financial regulator said Thursday. The move comes amid high interest rates that have placed additional [...]
SEOUL, Feb. 15 (Korea Bizwire) – In an era marked by high inflation, consumers are increasingly seeking value for their money, leading to a significant surge in sales for budget coffee franchises last year. According to NH Nonghyup Card, these affordable coffee chains, including Mega Coffee, Paik Dabang, Compose Coffee, and Mammoth Coffee, witnessed a 37% [...]
SEOUL, Feb. 15 (Korea Bizwire) – As the appeal of car insurance comparison and recommendation services wanes, industry insiders are turning their gaze towards pet insurance as the next promising market. Amid the growing trend of value-seeking consumers in a high-cost economy, pet insurance is emerging as a new focal point for financial tech services. Notably, [...]