SEOUL, May 9 (Korea Bizwire) – More than 1,800 jobs vanished from the financial sector in 2015. Financial institutions have downsized their workforces due to weakening profit margins and the increasing ubiquity of fintech and automated branches, which require fewer employees. According to the Financial Supervisory Service (FSS), the number of employees at financial institutions [...]
SEOUL, Jan.29 (Korea Bizwire) – Two leading tech giants, Apple and Facebook, seem to be in different leagues given their recent performance. With demand for smartphones on the wane, industry watchers even predicted a quarter of negative growth for Apple. On the other hand, Facebook is performing far better than market expectations. On January 27, [...]
SEOUL, Dec. 10 (Korea Bizwire) – Foreign investors have been in a selling binge of local stocks as they reduced risky bets ahead of a looming U.S. rate hike, market watchers said Thursday. Offshore investors offloaded 243 billion won(US$207 million) worth of shares traded on the main KOSPI market on Wednesday, extending their selling spree [...]
SEOUL, Dec.3 (Korea Bizwire) – The shock effect of black market deals with analysts and fund managers involved is hitting hard at securities firms in Yeouido. Numerous trade firms and asset management firms have been investigated by the prosecution, with documents and data seized and offices searched. The investigation has revealed even more names in [...]
SEOUL, Nov. 17 (Korea Bizwire) - South Korean listed firms saw their sales edge down in the first nine months of the year but their bottom lines improved on the back of reduced costs for raw materials, the country’s bourse operator said Tuesday. Sales of 498 firms traded on the main KOSPI market totaled 1,205.6 trillion [...]
SEOUL, Nov. 12 (Korea Bizwire) – South Korean stocks closed slightly lower Thursday as investors took to the sidelines ahead of top Fed officials’ remarks that could provide a glimpse of the U.S. central bank’s monetary policy direction, analysts said. The local currency lost ground against the U.S. dollar. The benchmark Korea Composite Stock Price [...]
SEOUL, March 20 (Korea Bizwire) – Shareholders of Amore Pacific Co., South Korea’s leading cosmetics firm whose share price is the most expensive in the country at more than 3 million won (US$2,678), approved a 10-for-1 stock split in a unanimous vote during their annual meeting on Friday, raising questions about who could be next. [...]