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Finance Ministry Faces Tough Calls over Further Spending amid Pandemic

Finance Ministry Faces Tough Calls over Further Spending amid Pandemic

SEOUL, Jan. 22 (Korea Bizwire) — South Korea’s finance ministry has increasingly found itself in hot water over growing calls to dig deeper into state coffers in response to the pandemic-caused economic slump, as it is wary of the country’s ballooning debt. A row over the finance ministry’s fiscal role reignited this week after Prime [...]

Slammed by Pandemic, Small Business Owners Live Off Debt — Until They Can’t

Slammed by Pandemic, Small Business Owners Live Off Debt — Until They Can’t

SEOUL, Oct. 22 (Korea Bizwire) — The coronavirus pandemic has ravaged small businesses around the country. But nowhere in the country is the devastation more visible than in Myeongdong, the popular shopping district among foreign travelers in central Seoul. The usually bustling streets, lined with cosmetics and souvenir shops, food stands and restaurants offering menus [...]

Firms’ Debt Dependency Surges in Q1 amid Coronavirus-triggered Slump

Firms’ Debt Dependency Surges in Q1 amid Coronavirus-triggered Slump

SEOUL, June 22 (Korea Bizwire) — South Korean businesses struggled to stay afloat amid new coronavirus-caused slump in the first quarter, either by borrowing more money or selling their assets to secure much-needed liquidity, a report showed Monday. According to the report from the Korea Economic Research Institute (KERI), the outstanding debt owed by 623 [...]

Radient Technologies Inc. Announces Shares for Debt Arrangements

Radient Technologies Inc. Announces Shares for Debt Arrangements

EDMONTON, Alberta, May 8 (Korea Bizwire) – Radient Technologies Inc. (“Radient” or the “Company”) (TSX Venture: RTI; OTCQX: RDDTF), a global commercial manufacturer of high quality cannabinoid-based ingredients, formulations and products, announces that it has entered into a series of shares for debt agreements with various of its creditors under the terms and conditions noted below. The [...]

Debt of Households, Self-employed Estimated to Exceed 2,000 tln Won

Debt of Households, Self-employed Estimated to Exceed 2,000 tln Won

SEOUL, Jan. 5 (Korea Bizwire) — Debt incurred by households and self-employed businesses in South Korea is estimated to surpass 2,000 trillion won (US$1,713 billion) as of September last year, according to central bank data on Sunday. Outstanding household loans came to 1,481 trillion won at the end of last September, up 13.6 trillion won [...]