SEOUL, Oct. 27 (Korea Bizwire) — Foreign drug dealers are gaining a presence in South Korea, once referred to as a drug-free country. A research institute at the Korean National Police University reported that drug crimes involving foreigners jumped from 359 cases in 2012 to 2,335 last year. The nationalities of foreign drug dealers have [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korean hotels are accommodating more foreigners following the government’s lifting of restrictions on tourists arriving from abroad. At 86 percent, the vast majority of all guests at RYSE, Autograph Collection, located in Hongdae, a popular entertainment district in western Seoul, were foreign tourists in the third quarter of this [...]
WASHINGTON/SEOUL, Oct. 16 (Korea Bizwire) — South Korea plans to begin exempting taxes on interest income and capital gains from foreigners’ investment in government bonds this week, in line with efforts to cope with the volatility in the foreign exchange market, the finance ministry said Sunday. “The measures were needed amid the lingering volatility in [...]
SEOUL, Oct. 4 (Korea Bizwire) — The state human rights watchdog has called on the government to improve the status of residence for foreign single parents who are staying here raising their children of Korean nationality, officials said Tuesday. The National Human Rights Commission (NHRC) made the recommendation to the justice minister in connection with [...]
SEOUL, Sept. 4 (Korea Bizwire) — Foreigners’ net stock purchases reached nearly 4 trillion won (US$2.9 billion) in the South Korean stock markets last month despite the won’s weakness against the dollar, data showed Sunday. In August, foreigners bought 3.98 trillion won worth of stocks in the main KOSPI, tech-heavy KOSDAQ and small businesses-focused KONEX [...]
SEOUL, Sept. 1 (Korea Bizwire) — One in 5 foreign nationals staying in South Korea are illegal immigrants, with the number of undocumented immigrants rising to nearly 400,000, government data showed Thursday. According to the data compiled by the Ministry of Justice, 395,068 foreigners were staying in the country without a valid visa in July, [...]
SEOUL, Aug. 15 (Korea Bizwire) — A local bank’s refusal to open an account for a foreigner with a long name is discriminatory, South Korea’s human rights watchdog said Monday. The move came 13 months after a foreigner filed a petition with the National Human Rights Commission of Korea for being rejected by the bank [...]
SEOUL, Aug. 14 (Korea Bizwire) — Foreigner ownership of South Korean stocks hit a 13-year low this month, the bourse operator said Sunday, as demand for riskier assets declined amid the Federal Reserve’s aggressive rate hikes. Foreign investors held 606.2 trillion won (US$464 billion) worth of stocks traded on the main KOSPI market as of [...]
SEOUL, Aug. 11 (Korea Bizwire) — Foreign investors became net buyers of South Korean stocks for the first time in six months in July on expectations that the Federal Reserve may slow the pace of monetary tightening, central bank data showed Thursday. Foreigners’ stock investment funds recorded a net inflow of US$160 million in July, [...]
SEOUL, July 18 (Korea Bizwire) — While foreigners living in South Korea think highly of the country’s medical system, their satisfaction with living here is low. The Expat Insider 2022, a report containing data from a survey of foreign residents conducted by international networking site InterNations, showed that Asia’s fourth-largest economy was the 40th country out [...]