SEJONG, June 29 (Korea Bizwire) — South Korea aims to increase its outbound investment by US$15 billion annually through an overhaul of tax schemes and more overseas investment by the state pension fund that can help offset some of the fallout from the country’s ballooning current account surplus, the government said Monday. The bold measures [...]
SEOUL, Dec. 18 (Korea Bizwire) – The total exposure of Korean financial institutions to Russia is estimated at US$1.36 billion. According to the Financial Supervisory Service on December 17, the exposure as of the end of September this year including loans and credit facilities provided to Russia by the nation’s 11 banks including Korea EximBank, Korea Development Bank, [...]
SEOUL, May 29 (Korea Bizwire) – The affiliate companies under the direct control of Yoo Byung-eun, the former chairman of Semo Group, are expected to go bankrupt sooner or later. That’s because major creditor banks has already begun recalling their loans from the major Semo affiliates including Chonhaeji, Ahae, and Jongseok Chemical. For example, Korea Development Bank [...]
SEOUL, Korea, Jan 21 (Korea Bizwire) – An automobile cluster town will be created by 2017 in the City of Goyang in the northwest of Seoul, featuring an auto theme park, car custom shops, an auto parts recycling center, a vocational school, and a museum. On January 20, representatives from the Provincial Government of Gyeonggi, Goyang [...]