SEOUL, April 10 (Korea Bizwire) — Foreign investors turned net sellers of South Korean stocks in March amid the collapses of Silicon Valley Bank in the United States and the global bank Credit Suisse, central bank data showed Monday. Offshore investors sold a net US$1.73 billion worth of local stocks last month, a turnaround from [...]
SEOUL, April 10 (Korea Bizwire) — Retail investors from South Korea, who tend to seek high returns by tolerating high volatility, have sold off shares of NASDAQ-listed tech companies, data showed Sunday. Domestic investors purchased smartphone behemoth Apple Inc.’s shares worth US$582.1 million during the period from January 1 to April 7, according to data [...]
SEOUL, April 6 (Korea Bizwire) — Foreign direct investment (FDI) pledges to South Korea rose 3.4 percent on-year in the first quarter of 2023 to reach the highest first-quarter figure ever, data showed Thursday. The country received US$5.63 billion of FDI commitments in the January-March period, compared with $5.45 billion logged a year earlier, according [...]
SEOUL, April 2 (Korea Bizwire) — South Korean exporting companies saved 6.6 trillion won (US$5.8 billion) due to lower tariffs in 2021 thanks to the country’s free trade agreements (FTAs) with six major economies, including the United States and the European Union, government data showed Sunday. According to the trade data compiled by the Ministry [...]
SEOUL, April 2 (Korea Bizwire) — Large companies listed on the South Korean main KOSPI bourse will be required to begin issuing key regulatory filings in English next year, the country’s financial and stock exchange regulators said Sunday. According to the Financial Services Commission (FSC) and the Korea Exchange, companies with at least 10 trillion [...]
SEOUL, March 31 (Korea Bizwire) — Toss Bank, the country’s third internet-only banking firm, said Friday it suffered a loss last year due to increased loan-loss reserves. Toss Bank, which went into operation in October 2021, reported a net loss of 264.4 billion won (US$203.3 million) in 2022, the lender said in a statement. Toss [...]
SEOUL, March 30 (Korea Bizwire) — Foreign investors have been rushing to buy South Korean bonds on expectations of global monetary easing since the recent collapse of Silicon Valley Bank (SVB) in the United States, industry sources said Thursday. Foreigners bought a net 11.09 trillion won (US$8.5 billion) worth of South Korean bonds between March [...]
SEOUL, March 29 (Korea Bizwire) – The amount of daily payments made with cards in South Korea grew about 13 percent last year as eased coronavirus-related restrictions boosted consumption, central bank data showed Wednesday. Spending made with credit, debit and prepaid cards reached a daily average of 3.1 trillion won (US$2.4 billion) in 2022, up [...]
SEOUL, March 27 (Korea Bizwire) — South Korea’s financial regulator said Monday that local banks showed no signs of abnormality in their withdrawal and deposit operations. The assessment by the Financial Supervisory Service (FSS) came amid concerns of a global banking crisis following the recent failures of two U.S. banks — Silicon Valley Bank and [...]
SEOUL, March 26 (Korea Bizwire) — The loan exposure of nonbanking financial companies to real estate project financing (PF) has spiked to an alarming level in recent years, posing potential credit risks amid a decline in the housing market, industry data showed Sunday. The volume of exposure by insurance companies, securities firms, credit card companies [...]