SEOUL, Nov. 6 (Korea Bizwire) — South Korea has launched task forces under several ministries to beef up the monitoring of prices of key food and other major items and to implement necessary measures swiftly as part of efforts to bring inflation under control, officials said Monday. The establishment of the entities, led by vice [...]
SEOUL, Nov. 1 (Korea Bizwire) – The number of non-wage workers, such as the self-employed, in South Korea rose 0.56 percent on-year in 2023, data showed Wednesday. There were 6.72 million non-salaried workers as of August, up 38,000 from the same period in 2022, according to the data compiled by Statistics Korea. The number accounts for [...]
SEJONG, Nov. 1 (Korea Bizwire) — South Korea’s exports moved up on-year for the first time in 13 months in October, driven by robust automobile shipments, along with signs of improvement in the chip sector, data showed Wednesday. Outbound shipments moved up 5.1 percent on-year to US$55 billion last month, according to the data compiled [...]
SEOUL, Oct. 26 (Korea Bizwire) — PayPal Holdings, Inc., the multinational operator of an online payment system, was ordered to pay over 900 million won (US$663,863) in fines Thursday for a personal data breach involving some 23,000 customers. The Personal Information Protection Commission decided to impose combined fines of 922 million won on the Singapore-based [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s consumer sentiment slid for the third straight month in October amid woes over an economic slowdown, slumping exports and weakened spending power, a central bank poll showed Wednesday. The composite consumer sentiment index stood at 98.1 in October, down from 99.7 the previous month, marking the lowest [...]
SEOUL, Oct. 24 (Korea Bizwire) – The LG Twins have secured the regular season crown in the KBO League, marking their first pennant win in 29 years. Since their last championship in 1994, the Twins have ranked second several times but mostly remained a middle to lower-tier team. After finishing as runners-up in the KBO pennant [...]
SEOUL, Oct. 23 (Korea Bizwire) – In the current bond purchasing trend, individual investors are transitioning from bonds with maturities exceeding 10 years to short-term bonds with maturities of less than one year. As interest rates surge and bond prices decline, driven by the Federal Reserve’s indication of a prolonged tightening stance, individual investors are displaying [...]
SEOUL, Oct. 20 (Korea Bizwire) — The South Korean economy is forecast to be on a recovery track next year but the pace will be “very gradual” as China’s significant economic slowdown and a recession in the United States would hinder the growth of its exports, a senior Fitch Ratings analyst said Friday. Jeremy Zook, [...]
SEOUL, Oct. 19 (Korea Bizwire) — Geopolitical risks stemming from the conflict between Israel and the Palestinian militant group Hamas are feared to cause a flare-up in inflation and ripple effects for the South Korean financial market and the real economy, the finance minister said Thursday. Choo Kyung-ho made the assessment during a parliamentary audit [...]
SEOUL, Oct. 19 (Korea Bizwire) — Foreign investors sold a net 1.71 trillion won (US$1.26 billion) worth of South Korean stocks in September, extending their selling spree for a second consecutive month, data showed Thursday. After the sell-off, foreigners owned some 663.7 trillion won worth of local stocks, or 26.7 percent of total market capitalization, [...]