SEOUL, Nov. 14 (Korea Bizwire) — The number of “rich people” with financial assets worth 1 billion won (US$847,000) or more increased nearly 11 percent in South Korea last year from a year earlier largely on stock gains, a report showed Sunday. The number jumped 10.9 percent to 39,300 as of last year, around 0.76 [...]
SEOUL, Aug. 12 (Korea Bizwire) — The combined value of stocks owned by South Korea’s 100 richest shareholders has fallen 11 percent, as the local stock market is reeling from an escalating trade feud between Washington and Beijing and another trade row between South Korea and Japan, industry data showed Sunday. According to the data [...]
SEOUL, Jan. 8 (Korea Bizwire) — Nearly half of South Koreans believe that the country’s tax policy favors the rich, a poll showed Tuesday. The poll — commissioned by the Economic Reform Research Institute — found that 48.9 percent of respondents said they think the wealthy are at an advantage in regards to tax policy. [...]
SEOUL, Jan. 29 (Korea Bizwire) – A corporate tracker said Friday that the number of people aged under 30 whose shareholding value surpassed 10 billion won (US$8.5 million) came to 52. Chaebul.com said the combined shareholding value of the 52 people stood at more than 1.7 trillion won. On average, the individual shareholding value [...]
SEOUL, Jan. 11 (Korea Bizwire) – South Koreans, both poor and rich, are tightening their belts with no economic recovery in sight and the prices of goods ascending, data showed Wednesday. The spending-to-income ratio of local households hit a record low despite stagnant wage levels. Department stores and duty-free shops, two routine shopping spots for [...]
SEOUL, Dec. 28 (Korea Bizwire) – The number of wage earners who make more than 100 million won (US$82,860) a year rose sharply from a year earlier in 2015, nearing 600,000 and accounting for 3.4 percent of all income earners, the tax office said Wednesday. In its annual report, the National Tax Service said the [...]
SEOUL, Dec. 16 (Korea Bizwire) – South Korea said Friday that it will issue multiple entry visas for Chinese travelers who buy expensive vacation packages, the latest in a series of Seoul’s attempts to attract rich Chinese tourists. The government said Chinese — who purchase a travel package worth more than 3 million won (US$2,500) [...]
SEOUL, July 6 (Korea Bizwire) – South Koreans with financial assets worth more than 1 billion won (US$860,000) jumped 15.9 percent last year from a year earlier helped by increased returns from their investments in equities and real estate, a private think-tank report said Wednesday. The number of such deep-pocket Koreans climbed to 211,000 in [...]
SEOUL, June 15 (Korea Bizwire) – Dividend payments to the owners of South Korea’s top 10 conglomerates were tallied at 1.46 trillion won (US$1.24 billion) for the past five years, despite their firms’ sluggish earnings, data showed Wednesday. Samsung Electronics Co. Chairman Lee Kun-hee, South Korea’s richest man, topped the list with a total of [...]
SEOUL, June 8 (Korea Bizwire) – According to China’s Hurun Report, a research institute specializing in China’s high net worth individuals, the young rich kids of China named Korea as their third-most memorable travel destination. A total of 525 wealthy Chinese between the ages of 18 and 36 years took part in the survey. Korea [...]