SEOUL, Oct. 21 (Korea Bizwire) — The Indian subsidiary of South Korean automotive giant Hyundai Motor Co. is set to make its stock market debut this week following a record initial public offering (IPO) in the South Asian nation, according to industry officials Monday. Shares of Hyundai Motor India Ltd. are set to start trading [...]
SEOUL, Oct. 10 (Korea Bizwire) — Foreign investors sold the largest amount of Korean stocks in over 3 years in September amid escalating geopolitical risks and skepticism over the artificial intelligence (AI) sector, central bank data showed Thursday. Offshore investors sold a net US$5.57 billion worth of local stocks last month, following $1.85 billion worth [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea will be included in a key global government bond index run by FTSE Russell, starting in November next year, the London-based organization has said, a decision expected to help it attract significant foreign investment. The country will be added to the FTSE Russell’s World Government Bond Index [...]
SEOUL, Sept. 23 (Korea Bizwire) – A single report from global investment bank Morgan Stanley has sent shockwaves through the South Korean stock market, underscoring the outsized influence of foreign financial institutions on the country’s equities. On September 20, shares of SK Hynix, the world’s second-largest memory chip maker, closed at 157,100 won after plummeting as [...]
SEOUL, Sept. 12 (Korea Bizwire) — Hanwha Group, a South Korean defense-to-insurance conglomerate, said Thursday it plans to pay 600 billion won (US$447.8 million) for a controlling stake in the Singaporean offshore plant firm Dyna-Mac Holdings. The group’s two defense and shipbuilding affiliates, Hanwha Aerospace Co. and Hanwha Ocean Co., will make a cash tender [...]
SEOUL, Sept. 11 (Korea Bizwire) – The financial regulator said Wednesday it will work to strengthen punishment for illegal money lending businesses and nullify their very contracts that are deemed antisocial. The move follows a recent spike in the number of complaints against loan sharks, which jumped from 10,350 in 2022 to 12,884 last year, [...]
SEOUL, Sept. 9 (Korea Bizwire) – The financial regulator on Monday announced plans to revise related laws to require payment gateway (PG) service providers to maintain sufficient funds to settle all payments. The move follows massive payment delays by two e-commerce platforms — TMON and WeMakePrice — due to a liquidity crisis caused by their [...]
SEOUL, Sept. 4 (Korea Bizwire) – The government proposed raising the pension contribution rate to 13 percent from 9 percent and differentiating the pace of raising the contribution rate by age group, Health Minister Cho Kyoo-hong said, in what would be the biggest overhaul of the ailing pension system in 21 years. Details of the [...]
SEOUL, Aug. 20 (Korea Bizwire) – South Korea’s household credit rebounded sharply in the second quarter of the year as home-backed loans increased in the face of tightened lending criteria and high rates, central bank data showed Tuesday. Outstanding household credit reached 1,896.2 trillion won (US$1.419 trillion) at the end of June, up 13.8 trillion [...]
SEOUL, Aug. 19 (Korea Bizwire) — Major South Korean banks are scurrying to further raise their lending rates, alarmed by a spike in household loans amid extended easing monetary policy, industry sources said Monday. KB Bank, Shinhan Bank and Hana Bank will raise their lending rates on mortgage loans by between 0.1 percentage point and [...]