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Financial System Remains Stable despite Rising Debt Payment Burden, Asset Deterioration: BOK

Financial System Remains Stable despite Rising Debt Payment Burden, Asset Deterioration: BOK

SEOUL, Mar. 28 (Korea Bizwire) — South Korea’s financial system remains relatively stable, but debt payment burden and asset deterioration may increase amid extended monetary tightening, a central bank report showed Thursday. In its report on financial stability, the Bank of Korea (BOK) said despite woes over a possible rise in soured property development-related loans [...]

Finance Minister Calls for Extra Effort to Curb Still-high Inflation

Finance Minister Calls for Extra Effort to Curb Still-high Inflation

SEOUL, Mar. 18 (Korea Bizwire) — Finance Minister Choi Sang-mok on Monday called for extra effort by government officials to bring inflation under control amid weak private consumption, his office said. Choi made the call during a meeting with officials of the Ministry of Economy and Finance, where he also instructed them to come up [...]

Nearly Half of Older South Koreans Lack Support in Financial Emergencies, Study Reveals

Nearly Half of Older South Koreans Lack Support in Financial Emergencies, Study Reveals

SEOUL, Jan. 11 (Korea Bizwire) – A recent study by the National Pension Research Institute has uncovered a concerning reality for South Korea’s older population. Nearly half of the individuals over 50 years old find themselves without support in times of sudden financial need.  As part of the study, over 6,200 people aged 50 and above [...]

Nyxoah to Release Third Quarter 2023 Financial Results on November 8, 2023

Nyxoah to Release Third Quarter 2023 Financial Results on November 8, 2023

Nyxoah to Release Third Quarter 2023 Financial Results on November 8, 2023 Mont-Saint-Guibert, Belgium, Oct. 26 (Korea Bizwire) – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced that the Company will release financial results for [...]

LiquidX Launches White-label Trade Finance Offering for Corporate Banks

LiquidX Launches White-label Trade Finance Offering for Corporate Banks

NEW YORK, May 27 (Korea Bizwire) — LiquidX, the global network for working capital, trade finance and insurance, announced that it will now offer a white label deployment of the next-generation LiquidX 360 platform for banks to enhance their trade finance business with their corporate clients. The LiquidX Partner Program (LPP) enables corporate bankers to [...]

Overseas Equity Funds Rising in Popularity

Overseas Equity Funds Rising in Popularity

SEOUL, Sept. 8 (Korea Bizwire) — South Korea’s publicly offered overseas investment funds are regaining popularity among local investors, data showed Friday, as they seek tax benefits and higher returns. According to the data by the Korea Financial Investment Association, the combined net worth of such funds came to 39.4 trillion won (US$34.9 billion) as [...]

S. Korea Collected Nearly 320 tln won in Taxes in 2016: Gov’t

S. Korea Collected Nearly 320 tln won in Taxes in 2016: Gov’t

SEOUL, Apr. 17 (Korea Bizwire) — South Korea collected a record amount of local and central government taxes last year, official data showed Sunday, with the numbers likely to go up in the coming years. According to data by the finance and interior ministries and the central bank, Seoul brought in 318.1 trillion won (US$278.5 [...]

1 out of 4 Employees in Financial Sector Earn More Than 100 Mln Won

1 out of 4 Employees in Financial Sector Earn More Than 100 Mln Won

SEOUL, Feb. 15 (Korea Bizwire) – One out of four employees in South Korea’s financial sector earned more than 100 million won (US$87,000) last year, a report showed Wednesday.  The report submitted to the Financial Services Commission by the Korea Institute of Finance said 24.8 percent of employees at 1,389 financial firms earned more than [...]

S. Korean Companies Stay with Same Accounting Firm Too Long, Undermining Transparency

S. Korean Companies Stay with Same Accounting Firm Too Long, Undermining Transparency

SEOUL, Jan. 25 (Korea Bizwire) – South Korean companies tend to work with the same accounting firm for a long period of time, an analysis showed Wednesday, a practice partly blamed for corroborated cover-ups of financial troubles that later blow up in damaging losses for lenders and investors.  The analysis by corporate watcher CEO Score [...]