SEOUL, Nov. 22 (Korea Bizwire) — Major South Korean companies’ inventories spiked nearly 36 percent in the first nine months of this year amid a global economic slump, a corporate tracker said Tuesday. Combined inventories of 195 out of the country’s top 500 firms by sales came to 165.4 trillion won (US$122 billion) as of [...]
SEOUL, Nov. 21 (Korea Bizwire) – The number of people subject to the so-called comprehensive real estate tax hovered above 1 million for the first time since the scheme was introduced in 2005 amid soaring overall property prices, data showed Monday. A total of 1.3 million home and land owners will receive the tax invoice [...]
SEOUL, Nov. 21 (Korea Bizwire) — South Korea’s nationwide consumer prices rose 5.9 percent on-year in the third quarter of the year due to higher energy and dining-out costs, data showed Monday. The figure marked an expansion from the 5.4 percent on-year growth tallied a quarter earlier, according to the data from Statistics Korea. By [...]
BRUSSELS, Nov. 18 (Korea Bizwire) – Cohabs, a Brussels-based company specializing in coliving, announces the entry into its capital of three new institutional investors: global real estate investor Ivanhoé Cambridge, Belfius Insurance, and the real estate arm of the Belgian Sovereign Fund (SFPIM – Real Estate). All the founders and historical shareholders AG Real Estate and Alphastone remain on board to fuel the growth [...]
SEJONG, Nov. 17 (Korea Bizwire) — Household income rose 3 percent on-year in the third quarter from a year earlier as the country gradually returned to pre-pandemic normalcy, data showed Thursday. An average household earned 4.86 million won (US$3,644) per month in the July-September period, compared with 4.72 million won tallied a year earlier, according [...]
SEOUL, Nov. 17 (Korea Bizwire) — Net profit of South Korean listed firms declined 37.04 percent in the third quarter this year from a quarter ago amid monetary policy tightening and a slowdown in the economy, the bourse operator said Wednesday. Consolidated net profit of 601 companies on the main KOSPI market totaled 27.67 trillion [...]
SEOUL, Nov. 16 (Korea Bizwire) — South Korea’s imports of kimchi touched an all-time monthly high in October amid runaway inflation in the country, government data showed Wednesday. Inbound shipments of the spicy Korean traditional side dish stood at a record US$17.02 million last month, up 50.9 percent from a year earlier, according to the [...]
SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s rice output fell 3 percent this year from a year earlier due to a sharp drop in precipitation and lack of sunny days, data showed Tuesday. The country’s rice production came to 3.76 million tons this year, falling from 3.88 million tons tallied in 2021, according to [...]
SEOUL, Nov. 15 (Korea Bizwire) — The number of multiple home owners in South Korea fell 2 percent on-year in 2021, data showed Tuesday, apparently on tax burdens. The number of multiple home owners reached 2.27 million in 2021, falling from 2.32 million tallied in the previous year, according to Statistics Korea. They took up [...]
SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s car exports jumped 28.5 percent on-year last month on brisk demand for eco-friendly cars, data showed Friday. The value of outbound shipments of automobiles came to US$4.92 billion last month, the largest ever for any October, according to the data from the Ministry of Trade, Industry and [...]