SEOUL, July 6 (Korea Bizwire) — South Korean firms’ earnings outlook for the third quarter was drastically cut as the country’s first-ever outbreak of Middle East Respiratory Syndrome (MERS) has further sapped already feeble private spending, data showed Monday. The combined third-quarter operating profit of 117 listed firms on the main bourse was estimated at 29 [...]
SEOUL, March 12 (Korea Bizwire) — South Korea’s central bank unexpectedly slashed the base rate to a record low of 1.75 percent on Thursday, putting efforts to shore up growth on top of concerns over persistent household debt growth. The rate cut is the first since October, when the Bank of Korea (BOK) brought down the [...]
SEOUL, Sep. 26 (Korea Bizwire) — The market value of Samsung Electronics and Hyundai Motors has decreased to their lowest levels in three years. According to the Korea Exchange on September 24, the combined market capitalization of both companies amounted to 17.6 percent of the total stock market in Korea, the lowest since 2011. The value of Samsung [...]
SEOUL, Korea, Mar 10, 2014 (Korea Bizwire) – Under a severe downturn for years, the securities industry is now experiencing an internal discord between the management and the union over the issue of downsizing. According to disclosure data, the total number of employees in the securities industry as of last year was 40,243, down 5.97 [...]