SEOUL, Jan. 7 (Korea Bizwire) – The South Korean economy, which has been struggling with exports and flaccid domestic demand over the past year, is facing a triple whammy of weakening growth in China, geopolitical uncertainties surrounding North Korea and stubbornly weak international crude prices, watchers said Thursday. South Korea’s economy, which was rocked by [...]
SEJONG, Jan. 5 (Korea Bizwire) -South Korea downplayed the impact of China’s stock market crash on its domestic financial market on Tuesday, saying the market will regain stability again. Chinese stock tumbled nearly 7 percent Monday on the year’s first trading session due to concerns over its manufacturing sector, rattling South Korean and other financial [...]
SEOUL, Sept. 18 (Korea Bizwire) — LIG Nex1, a defense unit of South Korean conglomerate LIG Group, said Friday it will go public on the Seoul bourse in October in what will be the first market debut by a local defense company. The initial public offering (IPO) of 6.9 million shares is expected to raise [...]
“Recent external factors, including a sharp fall in the Chinese stock market, Chinese yuan devaluation and a possible U.S. rate hike, dragged down the South Korean market. As the external shocks will continue to weigh on South Korea for a while, we have to make all-out efforts to alleviate the volatility of the local capital [...]
SEOUL, Aug. 6 (Korea Bizwire) – With the KOSPI stalling due to a series of poor earnings reports, short selling hit a record during July, hinting that investors have a negative outlook on the future of the Korean economy. According to the Korea Exchange on July 5, the average daily value of short selling in the KOSPI was [...]
SEOUL, July 1 (Korea Bizwire) – Foreign ownership of South Korean stocks has fallen below the 30-percent level for the first time in nearly four years as market heavyweights preferred by offshore investors underperformed small-caps this year, the nation’s bourse operator said Wednesday. The value of local stocks held by foreign investors was estimated at [...]
SEOUL, May 28 (Korea Bizwire) – Affected by the low yen, Hyundai Motor, the largest automaker in Korea, lost its No. 2 position in the KOSPI market in terms of market capitalization to SK Hynix. On May 27, shares of the top automaker fell 1.88 percent to 157,000 won from a day earlier, shrinking its market [...]
SEOUL, May 20 (Korea Bizwire) — South Korea’s securities transaction tax revenue will likely shoot up in 2015 from a year earlier as the recent stock market rally has led to explosive growth in trading volume, industry data showed Wednesday. According to the data, the government is expected to collect some 4 trillion won (US$3.67 [...]
SEOUL, April 28 (Korea Bizwire) – South Korea’s top central bank said Tuesday the country’s economic recovery is gaining momentum despite external risks but stressed that structural reform is necessary for long-term growth. Bank of Korea (BOK) data released last week showed that the country’s gross domestic product (GDP) grew 0.8 percent on-quarter in the first three [...]
“The Ministry of Trade, Industry and Energy said on January 1 this year there will be additional job creation effects of 14,000 more jobs as well as foreign investment of more than 2.3 trillion won. For 11 months since the law’s revision, however, there has been almost no new foreign investment.” “The number of new [...]