SEOUL, Jan. 5 (Korea Bizwire) – As the new year dawns, persisting high inflation continues to impact South Korea’s MZ generation (Millennials and Generation Z), prompting them to find various ways to tighten their belts. These younger generations are not only increasing their income through ‘side hustles’ or frugal financial planning but are also looking for [...]
SEOUL, Jan. 5 (Korea Bizwire) – The government will extend intensive policy support to bring inflation down below 3 percent in the first half of 2024 as prices are projected to ease slower than expected, the finance ministry said Friday. “Inflation is expected to moderate gradually to stay around 3 percent in the first half [...]
SEJONG, Jan. 4 (Korea Bizwire) –A recent study has revealed that housing prices are the most significant factor affecting the decision to have a first child, while the cost of private education becomes more influential for subsequent children. The study on future birth rates in South Korea showed that the factors most affecting the decision [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s foreign reserves increased for the second straight month in December on the back of the increased conversion value of non-dollar assets and a rise in deposits, central bank data showed Thursday. The country’s foreign reserves had come to US$420.15 billion as of end-December, up $3.07 billion from [...]
SEOUL, Jan. 3 (Korea Bizwire) – The vice chief of South Korea’s financial regulator said Wednesday authorities will set up a computerized system to crack down on naked short selling, in a bid to promote a level playing field for stock investments. Kim So-young, vice chairman of the Financial Services Commission (FSC), said the country [...]
SEOUL, Jan. 3 (Korea Bizwire) – Small business owners in South Korea are grappling with a burgeoning financial crisis, compounded by the aftermath of the COVID-19 pandemic, rising interest rates, and soaring inflation. As repayment deadlines for accumulated debts loom, there’s an increasing concern over potential defaults, leading to a spike in bankruptcies among these entrepreneurs. [...]
SEOUL, Jan. 3 (Korea Bizwire) – Following the Korean government’s announcement that it would ease the capital gains tax on stocks, a significant shift in investment has been observed towards sectors like secondary batteries. According to the Korea Exchange, since the government’s announcement that it would relax the threshold for imposing transfer taxes from the existing [...]
SEOUL, Jan. 1 (Korea Bizwire) – Foreign investors’ net purchases of Samsung Electronics Co. stocks reached an all-time high last year on rising expectations of a recovery in the semiconductor industry, bourse data showed Monday. Offshore investors scooped up a net 16.7 trillion won (US$12.9 billion) worth of stocks of Samsung Electronics, the world’s largest memory [...]
SEOUL, Dec. 29 (Korea Bizwire) — South Korea has continued to experience high inflationary pressure this year following the highest price growth in decades the previous year, but inflation in December ticked down for a second consecutive month in signs that price pressure is easing, data showed Friday. Consumer prices, a key gauge of inflation, [...]
SEOUL, Dec. 28 (Korea Bizwire) – In the face of persistent high inflation and interest rates, South Korean consumers have been navigating the economic landscape with markedly polarized spending habits. This trend, underscored by recent studies from Lotte Home Shopping and WiseApp, reveals a complex interplay of ‘value-seeking consumption’ and ‘revenge spending’, shaping the country’s retail [...]