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South Korean builder Daewoo Engineering & Construction said Tuesday it has signed a memorandum of understanding with Czech infrastructure company Sudop Praha as part of efforts to strengthen its partnership with local firms in constructing nuclear power plants in the Czech Republic. According to D...
Google Korea allegedly evaded more than 600 billion won ($450 million) in taxes in 2023, paying only 2.5 percent of its estimated corporate tax obligations, a ruling party lawmaker said on Tuesday. Rep. Choi Su-jin of the People Power Party, citing reports from the Korean Association of Financial ...
Global investment bank Morgan Stanley has come under the scrutiny of local authorities, following the suspicious execution of a sell order on SK hynix shares made before releasing a bearish report on the chip giant’s outlook. On Sept. 15, during the Chuseok holiday, Morgan Stanley’s Asia-Pacific...
With the upcoming US presidential election scheduled for November, South Korea stands to benefit significantly if the new administration brings a change in economic policy, according to Arthur B. Laffer, founder and chairman of Laffer Associates. "A return to pro-growth economic policies in the US...
Following the US Federal Reserve's historic half-point rate cut, expectations are rising that South Korea may follow suit, while closely monitoring its overheated real estate market and soaring household debt. On Wednesday, following a two-day Federal Open Market Committee meeting, the Fed cut its...
Most South Koreans showed positive sentiments about spending more on Chuseok gifts this year, despite the ongoing inflation and economic challenges, a recent survey found. According to the survey conducted by the Korea Chamber of Commerce and Industry, the nation’s largest business lobby, more th...
The local stock market is likely to remain stuck on growth for the time being, reflecting the woes of the US economy, market analysts said. They also advised investors to build up a defensive portfolio to respond to high volatility. The local bourse has remained sluggish in recent days, coupled wi...
Woori Financial Group, one of South Korea’s top five financial conglomerates, announced on Wednesday it created a 100 billion won ($75 million) fund to provide liquidity to the struggling real estate project financing (PF) sector. The fund was raised through contributions from the group’s subsid...
Finance Minister Choi Sang-mok pledged Thursday to control rising household debt and thoroughly take care of the payment crisis involving e-commerce platforms Tmon and WeMakePrice. "The increase in mortgage loans, led by growing housing transactions since around June, has sparked the rise in house...
Posco Future M said Thursday it has signed a 1.8 trillion won ($1.4 billion) deal to supply high-nickel cathode materials for electric vehicle batteries with a battery maker. The details of the agreement including the other signing party will not be disclosed until Dec. 31, when the two companies ...
Foreign investors are on a massive selling spree of South Korean stocks, dumping shares worth over 3 trillion won ($2.25 billion) on the benchmark Kospi this month, fueled by concerns that the US could be heading toward a recession. Overseas investors sold off shares worth 3.11 trillion won on the...
KB Financial Group Chairman Yang Jong-hee met with Hun Sen, president of the Cambodian Senate, on Wednesday to discuss potential collaborations aimed at advancing financial development in Southeast Asia and enhancing KB’s presence in the region. The meeting was held at the Inspire Entertainment R...
The Bank for International Settlements has cautioned that South Korea’s expanding private sector credit is beginning to weigh on economic growth, with further increases posing additional risks. The Switzerland-based consortium of central banks recently published a report indicating that while ris...
South Korean asset managers are eagerly introducing diverse fund products tracking the Indian stock market, seeking lucrative opportunities in its strong growth. Korea Investment Management, a big-name asset manager here, listed two active funds tracking India-domiciled companies Tuesday, the ACE ...
South Korea is set to overhaul its inheritance tax system next year, with the Finance Ministry preparing a bill to tax the inheritors instead of the estate that is being inherited. To enhance fairness and ensure consistency in taxation, as well as align with global trends, the government plans to ...
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