SEOUL, April 9 (Korea Bizwire) — South Korea’s superrich had an average of 32.3 billion won (US$24.5 million) of assets last year, and their yearly income came to about 1.23 billion won, a report showed Sunday. The Hana Institute for Finance, affiliated with major lender Hana Bank, defined the superrich in its report as those [...]
SEOUL, March 31 (Korea Bizwire) — The Government Ethics Committee on Thursday unveiled high-ranking officials’ personal property data that included a variety of extraordinary items. Unification minister Kwon Young-se reported three harps worth 130 million won (US$100,400) and one painting worth 30 million won that are owned under his wife’s name. Shin Ja-yong, head of [...]
SEOUL, July 5 (Korea Bizwire) — South Korea’s top five business groups have seen their assets surge nearly 40 percent over the past decade, a corporate tracker said Tuesday, pointing to their ever-growing clout in Asia’s fourth-largest economy. The combined assets of the leading five — Samsung, SK, Hyundai Motor, LG and Lotte — came [...]
SEOUL, March 29 (Korea Bizwire) — The value of assets held by non-metropolitan areas households is about 40 percent lower than that of metropolitan area households, a lawmaker said Monday, citing data from Statistics Korea. The aggregate value of assets held by the nation’s households amounted to 10.3 quadrillion won (US$8.21 trillion), according to the [...]
SEOUL, Dec. 7 (Korea Bizwire) – The number of people who said their motivation to work has weakened since the COVID-19 pandemic increased sharply, a survey showed Monday. The Woori Finance Research Institute, affiliated with major bank holding firm Woori Financial Group, classified individuals who are in the 10 to 30 percent bracket of the [...]
SEOUL, Nov. 3 (Korea Bizwire) — Members of Generation X, or those between 37 and 46 years of age, have piled up assets at the fastest pace among all generations, data showed Tuesday. The Seoul Institute, a think tank under the Seoul city government, analyzed the asset gap among generations using data from Statistics Korea. [...]
BISMARCK, N.D. and WESTLAKE VILLAGE, Calif., Aug. 17 (Korea Bizwire) — Clean energy infrastructure developer Bakken Energy (Bakken) today announced that it has reached agreement with Basin Electric Power Cooperative (Basin Electric) on key terms and conditions to purchase the assets of the Dakota Gasification Company (Dakota Gas), a subsidiary of Basin Electric, and the [...]
SEOUL, July 2 (Korea Bizwire) — A recent survey revealed that South Koreans define the middle class as households with more than 700 million won (US$582,300) in assets. According to the “2020 Middle Class Report” released on Wednesday by NH Investment & Securities Co.’s 100-Year-Old Research Institute, a majority of respondents replied that four-person households [...]
SEOUL, May 3 (Korea Bizwire) — Embattled Doosan Heavy Industries & Construction Co. is under growing pressure to sell more assets in return for aid from its creditors, industry sources said Sunday. Last week, parent Doosan Group submitted Doosan Heavy’s final self-rescue plans, worth more than 3 trillion won (US$2.45 billion), to the creditors led [...]
SEOUL, Nov. 3 (Korea Bizwire) — Lee Kun-hee, chief of South Korea’s top conglomerate, Samsung Group, saw his stock value increase 17.9 percent as of end-October from the end of last year, due mainly to gains from the key electronics arm, data showed Sunday. Lee held stocks worth 16 trillion won (US$13.7 billion) as of [...]