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Company Funds Used to Purchase High-end Cars with Tax Deductions

Company Funds Used to Purchase High-end Cars with Tax Deductions

SEOUL, Sept. 16 (Korea Bizwire) — Automobiles worth more than 100 million won (US$84,745) are registered under corporate names more than private individuals, recent data has revealed. The Ministry of Land, Infrastructure and Transport reported that 51 percent of high-end cars that cost between 100-400 million won were registered as corporate assets as of May, [...]

Three-fourths of Big Firms Have No or Indefinitive Hiring Plans in H2

Three-fourths of Big Firms Have No or Indefinitive Hiring Plans in H2

SEOUL, Sept. 6 (Korea Bizwire) — Three-fourths of large companies in South Korea have no hiring plan or have not confirmed their recruiting scheme for the second half of the year amid the novel coronavirus pandemic, a poll showed Sunday. Half of the companies that responded to the Korea Economic Research Institute’s (KERI) survey answered [...]

S. Korean Companies’ Sales, Profitability Narrow in Q1 amid Pandemic

S. Korean Companies’ Sales, Profitability Narrow in Q1 amid Pandemic

SEOUL, June 16 (Korea Bizwire) — South Korean businesses’ sales and profitability worsened in the first quarter from three months earlier, central bank data showed Tuesday, amid slowing demand at home and abroad caused by the spread of the new coronavirus. In the January-March period, sales of local businesses dropped at an average 1.5 percent [...]

Market Cap of Bio, Internet Giants Surges amid Coronavirus Disruptions

Market Cap of Bio, Internet Giants Surges amid Coronavirus Disruptions

SEOUL, May 22 (Korea Bizwire) – The market capitalization of Samsung Biologics Co. and internet giant Naver Corp. has jumped sharply on South Korea’s main stock market over a one-year period, despite the coronavirus impact on the equities markets, data showed Friday. Samsung Biologics’ market cap stood at 40.3 trillion won (US$32.6 billion) at Thursday [...]

Korean Firms Again in Anti-virus Mode over Itaewon Cluster Infections

Korean Firms Again in Anti-virus Mode over Itaewon Cluster Infections

SEOUL, May 14 (Korea Bizwire) — South Korean firms are again beefing up their virus prevention measures after the country reported cluster infections linked to clubs and bars in a popular nightlife neighborhood in Seoul, industry insiders said Thursday. After the country shifted to an “everyday life quarantine” scheme to normalize social and economic activities [...]