SEOUL, Jul. 17 (Korea Bizwire) — Prosecutors have sought a warrant to arrest Kim Beom-su, the founder of tech giant Kakao Corp., over alleged stock price manipulation connected to the firm’s takeover of K-pop powerhouse SM Entertainment last year, officials said Wednesday. The Seoul Southern District Prosecutors Office filed for the warrant, the officials said, [...]
SEOUL, Jul. 12 (Korea Bizwire) — The economic recovery in South Korea has strengthened on solid exports, the manufacturing sector, and domestic demand showing signs of recovering, the finance ministry said Friday. The Ministry of Economy and Finance made the assessment in the Green Book, its monthly economic assessment report, while pointing to prolonged geopolitical [...]
SEOUL, Jul. 11 (Korea Bizwire) –The Organization for Economic Cooperation and Development (OECD) called on South Korea on Thursday to introduce tighter fiscal rules and maintain a restrictive policy as its budget is projected to remain in deficit through next year and rapid aging would add longer-term pressure. “The budget is projected to remain in [...]
SEOUL, Jul. 11 (Korea Bizwire) – In a surprising trend, half of the recent applicants for health insurance policies designed for individuals with pre-existing conditions are in their 60s, according to a recent analysis. This demographic, which has historically faced challenges in obtaining coverage, is emerging as a significant force in the insurance market, coinciding with [...]
SEOUL, July 10 (Korea Bizwire) – Early repayment charges on loans will be lowered from mid-January next year as financial regulators revised rules, officials said Wednesday. Under the revised rules, lenders will only be allowed to collect the actual cost of making or handling the loans repaid in advance, along with any actual loss stemming [...]
SEOUL, Jul. 10 (Korea Bizwire) – Global asset management firm Franklin Templeton has offered a cautiously optimistic assessment of the South Korean government’s efforts to address the so-called ‘Korea Discount’ – the persistent undervaluation of Korean stocks. While viewing the corporate value enhancement policies positively, the firm anticipates that tangible results may take time to materialize. [...]
SEOUL, Jul. 9 (Korea Bizwire) — Kim Beom-su, the founder of tech giant Kakao Corp., appeared before prosecutors on Tuesday for questioning over alleged stock price manipulation connected to the firm’s takeover of K-pop powerhouse SM Entertainment last year. Kim presented himself for questioning at the Seoul Southern District Prosecutors Office regarding his alleged involvement [...]
SEOUL, Jul. 9 (Korea Bizwire) — A probe has found large-scale insurance fraud at a traditional medicine hospital involving more than 100 people, the financial regulator said Tuesday. Around 100 “fake” patients at the hospital are suspected of having made false insurance claims worth about 100 billion won (US$72.3 million), according to the Financial Supervisory [...]
SEOUL, Jul. 9 (Korea Bizwire) — The chief of the South Korean central bank said Tuesday the country is expected to see a gradual easing of inflation, while market volatility has grown amid high interest rates and political uncertainties in major nations. Bank of Korea (BOK) Gov. Rhee Chang-yong made the assessment during a parliamentary [...]
SEOUL, Jul. 8 (Korea Bizwire) — Nine out of 10 large companies in South Korea plan to maintain or increase their investments in the second half of the year, despite challenges such as prolonged high interest rates, a weak local currency and international uncertainties, a survey showed Monday. In the survey conducted by Mono Research, [...]
