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Banks’ Overseas Operations See 62 pct Spike in 2021 Profit

Banks’ Overseas Operations See 62 pct Spike in 2021 Profit

SEOUL, April 13 (Korea Bizwire) — South Korean banks’ overseas operations saw their earnings jump nearly 62 percent in 2021 from a year earlier on higher interest income, data showed Wednesday. The combined net profit of local lenders’ 204 overseas subsidiaries and branches stood at US$1.17 billion in 2021, up 62.1 percent from a year [...]

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

Higher Operating Profit for Conglomerates Cuts Operating Profit for Subcontractors: Study

SEOUL, Nov. 3 (Korea Bizwire) – The higher the operating profit is for large-sized companies, the less it is for smaller subcontractors, a recent study revealed. The Korea Institute of Public Finance announced Monday the analysis of performance among subcontractors working with conglomerates based on data from 2013 and 2014 provided by Nice Information Service [...]

Bakeries Fall Behind Coffee Shops and Fried Chicken Restaurants in Terms of Profitability

Bakeries Fall Behind Coffee Shops and Fried Chicken Restaurants in Terms of Profitability

SEOUL, Oct. 20 (Korea Bizwire) — The sales to operating profit ratio of South Korea’s bakeries is falling behind that of coffee shops and fried chicken restaurants. Roughly 18,500 bakeries that produce their own baked goods were operating across the country as of August, according to a report from KB Financial Group, a major South [...]

Food Makers Enjoy Two-digit Profit Hike amid Social Distancing

Food Makers Enjoy Two-digit Profit Hike amid Social Distancing

SEOUL, May 18 (Korea Bizwire) — South Korean giant food manufacturers boasted two-digit profit growth in the first three months of this year on brisk demand for instant home meal products amid coronavirus-led social distancing, data showed Monday. In the January-March period, earnings of food conglomerate CJ Cheiljedang Corp. were 28 percent higher than brokerages’ [...]

‘Full-time’ Landlords Earn 2.79 mln Won a Month

‘Full-time’ Landlords Earn 2.79 mln Won a Month

SEOUL, Oct. 7 (Korea Bizwire) — It has been confirmed that as many as 18,000 “full-time” landlords make money by renting out apartments full-time, without any other job. According to data received by Rep. Park Hong-keun from the National Tax Service, the number of individuals that live off of rental income, or so-called ‘landlords’, came [...]