Korean unit of Macquarie Funds Group censured for malpractice

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Korean unit of Macquarie Funds Group censured for malpractice

The South Korean unit of Australia-based asset manager Macquarie Funds Group faces a three-month business suspension and was fined 100 million won(US$91,000) for business malpractice linked to bond trading, the country's financial watchdog said Friday.According to the Financial Supervisory...

Updated : 2014.11.28 15:42

S. Korea's trade volume tops US$1 tln for 4th consecutive year

South Korea's overall trade volume has reached over US$1 trillion as of Friday for four straight years, setting course for a record high for the country's annual trade volume, the trade ministry said.As of 1:07 p.m., the country's total exports came to $520.17 billion with imports coming t...

Updated : 2014.11.28 15:41

Samsung Group share turnover jumps on restructuring move

Share turnover for Samsung Group, South Korea's largest conglomerate, jumped as investors acted on the announcements of affiliates sale and a stock buyback plan, accounting for a significant portion of trading in the local stock market, data showed Friday.Samsung Group announced on Wednesd...

Updated : 2014.11.28 12:30

Foreigners' card spending beats Koreans' overseas spending

The amount of credit card spending by foreigners in Korea outweighed that by Koreans on overseas trips for the first time, central bank data showed Friday.Credit card spending by foreigners reached US$3.27 billion in the third quarter, up 12.2 percent from three months earlier. In the same...

Updated : 2014.11.28 10:32

S. Korea's industrial output shrinks in Oct.

South Korea's industrial output shrank in October from a month earlier, affected by sluggish activities in the manufacturing sector, a government report showed Friday.According to the report by Statistics Korea, production in the mining, manufacturing, gas and electricity industries droppe...

Updated : 2014.11.28 10:31

LG Group reshuffles key executives

LG Group, the nation’s fourth-largest conglomerate, said Thursday that it had conducted its annual executive reshuffle and appointed LG Electronics home entertainment president Ha Hyun-hwoi as LG Cor...

Updated : 2014.11.27 21:38

[Graphic News] Applications for individual workout program to reach record-high

The number of people applying for the individual debtor rehabilitation program is expected to reach a record high in 2014, according to financial authorities and a monthly report by the Supreme Court ...

Updated : 2014.11.27 21:35

Shinhan Financial’s elite team seeks mobile innovation

Shinhan Financial Group, the nation’s No. 1 financial company both in assets and profits, shared its experience in mobile financial marketing Wednesday.Shinhan Smart Innovators, the group’s task for...

Updated : 2014.11.27 21:26

Local consumers await Black Friday

Kim Yoo-jin, a high school teacher, has been eagerly waiting for America’s Thanksgiving holiday, definitely not to eat turkey but to shop online on Black Friday, the day following America’s biggest ...

Updated : 2014.11.27 21:25

Goldman Sachs invests in firm behind Korean food delivery service app

Woowa Brothers, the operator of South Korea’s largest mobile food ordering and delivery service app, Baedal Minjok, said Thursday it has raised 40 billion won ($36 million) from U.S. investment bank ...

Updated : 2014.11.27 21:24

Watchdog seeks criminal charges against handset subsidy violations

South Korea’s communications watchdog said Thursday it will seek criminal charges against local mobile carriers for violating the new handset subsidy payment law that caused problems for buyers of Apple’s new iPhone 6. The Korea Communications Commission said after a meeting that it is a...

Updated : 2014.11.27 21:23

Car output to reach 4.51 million units in 2015

Vehicle output in South Korea is expected to rise slightly to 4.51 million units in 2015 from this year, thanks to growing demand, a report by a state-run industrial think tank showed Thursday.According to the Korea Institute for Industrial Economics and Trade, next year’s numbers represe...

Updated : 2014.11.27 21:23

Korea logs current account surplus for 32nd month

South Korea posted a current account surplus for the 32nd straight month in October on a rise in exports and a fall in dividend payments overseas, data showed Thursday.The current account surplus reached $9.01 billion last month, compared with a revised $7.41 billion in September, accordin...

Updated : 2014.11.27 21:22

Investment advisory firms’ net soars in fiscal H1

Korea’s investment advisory companies saw their earnings soar 173 percent in the first half of fiscal 2014 from a year earlier due to a rise in returns from equity investments, the financial watchdog said Thursday.The combined net profit of 166 local and foreign investment advisers reache...

Updated : 2014.11.27 21:22

Internet of Things to affect Thanksgiving holiday shopping

Kang Hak-dongThe number of smart devices in your home, on your body and around your office is increasing every day. By 2020, there could be as many as 30 billion devices hooked up to the so-called Int...

Updated : 2014.11.27 21:22