Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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Man convicted after binge eating to avoid military service
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First snow to fall in Seoul on Wednesday
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Job creation lowest on record among under-30s
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NK troops disguised as 'indigenous' people in Far East for combat against Ukraine: report
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Opposition leader awaits perjury trial ruling
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W2.9tr added to farmers’ FTA support budget
The government will provide an additional 2.9 trillion won ($2.5 billion) in support to cushion the impact of the Korea-U.S. Free Trade Agreement on farmers and fishermen.The Finance Ministry plans to make an additional outlay of 2 trillion won in direct financing on top of another 0.9 trillion won in tax benefits for the industry that stand to lose competitiveness with the inflow of cheaper goods under the reduced tariffs.Support for agriculture will now total 54 trillion won until 2017, includ
Jan. 2, 2012
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Europe crisis top concern for S. Korea‘s financial sector: poll
The ongoing eurozone sovereign debt crisis is expected to be the main source of concern for South Korea’s financial sector in 2012, a poll said Monday.The survey of 250 financial firms by the Korea Chamber of Commerce and Industry showed 81.6 percent of the respondents saying that debt problems facing many European countries could affect the industry as a whole. “The eurozone issue will remain the single largest risk factor,” the KCCI said. “Since it is not likely to be resolved in a short perio
Jan. 2, 2012
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‘Savings banks issued loans under false names’
A savings bank that came close to being suspended last year was found to have extended loans worth billions of won under borrowed names, sources said Monday.The finding comes as six troubled savings banks in Korea face a make-or-break moment after the grace period for penalties against the lenders with substandard capital ratios expired late last month.In mid-September, Korea’s financial regulators suspended business operations of seven troubled savings banks as part of its efforts to overhaul t
Jan. 2, 2012
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IBs forecast 3.4% growth for Korea
Foreign investment banks have slashed South Korea’s growth outlook for this year, citing unabating market jitters over the eurozone debt crisis, data showed Monday.The average economic growth for Asia’s fourth-largest economy reached 3.4 percent as of end-December last year, down from the 4.5 percent they projected at the end of January in 2011, according to the data by the Korea Center for International Finance.The figure is 0.3 percentage points lower than the government’s growth outlook annou
Jan. 2, 2012
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Shares expected to decline on eurozone woes
South Korean stocks are projected to trend lower in the first week of the new year, weighed down by nagging concerns over the eurozone debt crisis, analysts said Saturday.The benchmark KOSPI fell 2.2 percent last week to close at 1,825.74 on Friday as continued worries over Europe’s problem outweighed positive economic data from the United States.Reports showed that U.S. consumer confidence and orders for U.S. durable goods and home sales increased, but they were not strong enough to convince in
Jan. 1, 2012
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IPO market expected to stage recovery in 2012
Hyundai Oilbank, KDB Financial, Caffe Bene aim for listing on stock market this yearThe IPO market in Korea is poised to attempt a recovery in 2012 with 70 companies led by Hyundai Oilbank waiting in the wings to go public following disappointing performances last year.According to the Korea Exchange, the domestic initial public offering market saw 21 new entrants on KOSPI in 2011, down from 24 in 2010. The number of IPOs on the tech-packed KOSDAQ went down 24 percent on-year to 57. For the new
Jan. 1, 2012
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KB expects to break even in 2010
Jan. 1, 2012
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Korea clears way for pension investments
Jan. 1, 2012
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Korean chemicals: Can the rally last?
Jan. 1, 2012
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Hana to raise KEB takeover fund
Jan. 1, 2012
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Boerse-NYSE deal faces antitrust snags
Jan. 1, 2012
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Iceland: New debt deal must go to public vote
Jan. 1, 2012
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Deutsche faces prosecution inquiry
Jan. 1, 2012
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Entrepreneurs flood young stock-rich list
Nineteen entrepreneurs joined the nation’s list of 100 most stock-rich people aged under 45 last year, a conglomerate research firm said Sunday.The record figure, up from 10 a year earlier, included business people who started venture companies in their 20s in the 1990s, according to Chaebul.com, a
Jan. 1, 2012
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Overseas investors reap W350tr in stock gains over 20 years
Foreign stock ownership reaches 342 trillion won at yearend, accounting for 30% of total Foreigners have earned 350 trillion won ($307 billion) from investment in Korean shares over the past 20 years, according to the local brokerage industry.Their average earnings since the stock market opened
Jan. 1, 2012
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BOK chief says 2012 policy will center on price stability
South Korea’s central bank plans to make maintaining price stability its top priority next year as Asia’s fourth-largest economy remains dogged by persistent inflation risks, its chief said Friday.“Price stability has emerged more than ever before as an important matter of national concern,” Bank of Korea Gov. Kim Choong-soo said in his New Year’s message. “The task before us is to pay even closer attention to achieving our inflation target in 2012.”Kim’s stress on price stability comes as the c
Dec. 30, 2011
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Korea’s economy faces challenges in 2012
Eurozone woes, concerns on slower export growth, stronger Korean won likely to affect financial marketsEvery year has a theme, in retrospect, that helps explain what dominated the country’s economy. In 2011, the eurozone debt crisis was the undisputed prime culprit in putting a dampener on the Korean economy. As the country rings in the new year, hopes are ripe that things will be different; unfortunately, the theme of 2012 might be dishearteningly familiar as the eurozone’s problems are expecte
Dec. 30, 2011
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M&As set to reshape financial sector
Brokerage firms expected to become big investment banks through M&AsMergers and acquisitions in the banking sector are expected to reshape the nation’s financial landscape in 2012, analysts said.Among major M&A targets in the banking sector are Korea Exchange Bank, Woori Financial Group and HSBC’s Korean unit.The most closely-watched situation is whether Hana Financial Group will successfully take over KEB, which has been owned by U.S.-based Lone Star Funds since October 2003.While the Financial
Dec. 30, 2011
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Consumer prices advanced 4% in 2011
South Korea’s consumer prices grew over 4 percent for a second straight month in December, raising worries that inflation could remain a drag on the nation’s economy, a government report showed Friday.According to the report by Statistics Korea, the country’s consumer price index rose 4.2 percent in December from a year earlier. That followed a 4.2 percent gain in November. Core inflation, which excludes volatile oil and food costs, grew 3.6 percent from a year earlier, the largest hike for this
Dec. 30, 2011
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Korea to open new stock market for small firms
Korea’s financial watchdog unveiled on Friday a set of new initiatives that include the establishment of a third stock market for small companies in 2012, heralding a new phase for the country’s direct funding mechanism.In its 2012 policy report, the Financial Services Commission said the envisioned stock market will be dedicated to small and medium enterprises so that they can secure fresh funds for new investments. Korea runs two stock markets. The main bourse, KOSPI, is made up of blue-chip c
Dec. 30, 2011
