Loss Archives | Be Korea-savvy
Export-Import Bank of Korea Suffers First Loss in 2016

Export-Import Bank of Korea Suffers First Loss in 2016

SEOUL, March 31 (Korea Bizwire) – The Export-Import Bank of Korea, one of South Korea’s state-run policy banks, suffered a net loss of 1.46 trillion won (US$1.3 billion) last year, hit by higher provisions against its loans extended to the country’s ailing shipbuilding industry.  It was the first time that the bank reported an annual [...]

Potential Losses from Chinese Trade Sabotage May Hit US$20 Bln: Report

Potential Losses from Chinese Trade Sabotage May Hit US$20 Bln: Report

SEOUL, March 22 (Korea Bizwire) – The South Korean economy might suffer some US$20 billion in losses in trade with China in the future, if the diplomatic dispute over Seoul’s installation of a U.S. anti-missile system further escalates, a report showed Wednesday.  Tension is rising between the two countries after Beijing took aggressive steps to [...]

Samsung Predicts Another US$3.1 Bln Loss from Note 7′s Exit

Samsung Predicts Another US$3.1 Bln Loss from Note 7′s Exit

SEOUL, Oct. 14 (Korea Bizwire) – Samsung Electronics Co. said Friday that the discontinuation of the Galaxy Note 7 smartphone is expected to dent the company’s operating profit by additional US$3.1 billion over the next two quarters.  Samsung already slashed its estimate for third-quarter operating profit by 2.6 trillion won ($2.3 billion), saying the revision [...]

Korea to Implement ‘Deliberation Policy’ for High-Risk Financial Products

Korea to Implement ‘Deliberation Policy’ for High-Risk Financial Products

SEOUL, July 4 (Korea Bizwire) – The Korean Financial Supervisory Service (FSS) revealed Monday that it will implement a ‘deliberation policy’ in which an investor will be required to take time before making a final decision to invest in high-risk financial products. The policy will take effect as early as this coming August. Currently, citizens [...]

S. Korea’s Top 3 Shipyards Log 8 Tln Won Operating Loss in 2015

S. Korea’s Top 3 Shipyards Log 8 Tln Won Operating Loss in 2015

SEOUL, Jan. 7 (Korea Bizwire) – South Korea’s big three shipbuilders probably posted a record operating loss in 2015, stung by a combination of a prolonged industry slump, a series of order cancellations and a delay in the construction of offshore facilities, data showed Thursday. According to the industry data, the top three shipyards — [...]