SEOUL, Jan. 28 (Korea Bizwire) – South Korea took up less than 7 percent of China’s total imports last year, the lowest in 30 years, amid a change in the two countries’ trade relations and a global slump in the IT industry, data showed Sunday. South Korea accounted for 6.3 percent of China’s total inbound [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea is currently grappling with a complex crisis of both domestic and international challenges. However, experts have critiqued the government’s policy responses to these external risks as insufficient. A report titled ‘The Impact of External Risks on the Korean Economy and Industry,’ published by the Korea Institute for Industrial [...]
SEOUL, Jan. 19 (Korea Bizwire) — Starting from January 19, South Korea will enforce stricter penalties for unfair trading practices in the capital markets, including stock price manipulation. The Financial Services Commission and the Financial Supervisory Service announced that the amendment to the Financial Investment Services and Capital Markets Act (Capital Markets Act), which reinforces punishment for [...]
SEOUL, Jan. 18 (Korea Bizwire) — The National Pension Service (NPS), a significant player in the domestic capital market, has been found to have invested most heavily in the IT and electronics sectors over the past year. While the number of companies where the NPS owns more than 5% of shares has decreased, there has been an [...]
SEOUL, Jan. 12 (Yonhap) — Foreign investors remained net buyers of South Korean stocks for a second consecutive month in December, data showed Friday. Offshore investors purchased a net 3.14 trillion won (US$2.38 billion) worth of local stocks last month, following their net purchase of 3.3 trillion won in November, according to the data from [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea has shown growing signs of an economic recovery led by exports, though domestic demand remains weak, the finance ministry said Friday. “Signs of an economic recovery centering on exports have been rising, and inflationary pressure has been moderating. But the pace of recovery among sectors has been [...]
SEOUL, Jan. 11 (Korea Bizwire) – The government and the ruling People Power Party (PPP) agreed on Thursday to expunge records of overdue loan repayments for small business owners and those in vulnerable groups if they repay all of their debts by May. The “credit pardons” will be granted to individuals with 20 million won [...]
SEOUL, Jan. 11 (Korea Bizwire) — The value of listed firms in South Korea swelled nearly 25 percent over the past year amid a bullish stock market, a corporate tracker said Thursday. The market capitalization of 2,607 companies listed on the country’s main and secondary bourses came to a combined 2,503 trillion won (US$1.9 trillion) [...]
SEOUL, Jan. 10 (Korea Bizwire) – As the new year unfolds, major financial groups in South Korea are fiercely competing to enhance their services through the development of sophisticated mobile applications, focusing on creating ‘super apps’ that offer core services of both banking and non-banking affiliates in a single application, each employing slightly different strategies to [...]
SEOUL, Jan. 8 (Korea Bizwire) – Listed companies in South Korea probably saw their total operating income sink 16 percent on-year in 2023 due mainly to the sluggish chip business, a market tracker said Monday. The combined operating income of 247 listed firms is estimated at 297.9 trillion won (US$226 billion) last year, compared with [...]