SEJONG, Oct. 29 (Korea Bizwire) — Debt held by the self-employed grew 4.7 percent in 2018, as their income fell amid the economic slowdown, raising concerns about their capacity to service debt, data showed Thursday. Average bank loans extended to a self-employed person amounted to 164 million won (US$144,000) as of end-2018, compared with 156 [...]
SEOUL, Oct. 26 (Korea Bizwire) — South Koreans in their 20s are overburdened with bank overdrafts and loans from credit card companies amid a jobs crunch sparked by a protracted economic slump, data showed Monday. Outstanding overdrafts and card loans extended to local 20-somethings came to some 2.15 trillion won (US$1.91 billion) as of the [...]
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 [...]
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 [...]
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 [...]
SEOUL, May 8 (Korea Bizwire) — Hyundai Motor Co. on Friday said it has doubled its debt sale to 600 billion won (US$493 million) on strong demand amid the coronavirus impact on vehicle sales. Hyundai Motor sold the debt with a maturity period of three to seven years to refinance maturing dollar-denominated debt, the company [...]
SEOUL, March 5 (Korea Bizwire) — In the fourth quarter of last year, loans extended to businesses in the service sector, mostly taken out by self-employed people, rose to the largest amount ever. This seems to be the result of small wholesale and retail companies turning to loans amid sluggish domestic demand. Outstanding loans to [...]
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 [...]
SEJONG, Dec. 24 (Korea Bizwire) — More than half of middle-aged people were indebted last year, data showed Tuesday, in the latest sign of growing household debt in South Korea. The data compiled by Statistics Korea showed that 56.1 percent of people aged between 40 and 64 borrowed money from banks or other financial institutions [...]
SEOUL, Dec. 17 (Korea Bizwire) — A recent study has revealed that many young South Koreans who are either unemployed or struggling to make ends meet face difficulties with everyday life, and often forgo meeting with friends or having proper meals. The National Human Rights Council of Korea conducted a survey of 1,000 men and [...]