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Seoul to make cross-border money transfers easier

South Korea plans to push for financial deregulation to make it easier for people to transfer money across borders without going through banks, the government said Sunday.The move aims to allow securities firms, insurers and most importantly FinTech companies to handle transfers that can h...

Updated : 2015.05.24 14:54

Foreign bond investment keeps uptrend in April

Foreign investment in South Korean bonds continued to increase in April, with their holdings hovering over the 100 trillion (US$92 billion) won mark for five months running, data showed Sunday.Foreign holdings of bonds listed on the local bourse stood at 102.7 trillion won as of the end of...

Updated : 2015.05.24 11:50

Korea's golfware market keeps growing amid weak consumption

Despite the overall slump in private consumption, South Korea's golfware market is expected to post solid growth this year as more younger people enjoy the sport, industry sources predicted Sunday. According to the Korea Leisure Industry Institute and golf-related clothing makers, the coun...

Updated : 2015.05.24 11:43

Seoul shares likely to keep upward march next week

South Korean stocks are expected to continue to build up gains next week as foreign investors hold on to their buying binge of local stocks amid improving global liquidity circumstances, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,146.1 points...

Updated : 2015.05.23 11:39

Stark reality hits local firms at Seoul Food fair

Seoul Food 2015, one of the four largest food fairs in Asia, drew about 627 foreign food and related businesses and 3,300 foreign spectators, shedding a new light on South Korea’s exporters.Sponsored...

Updated : 2015.05.22 18:31

Han Sung Motor prioritizes marketable designs

Behind every successful global firm is the fusion of excellent design and well-fitting marketing strategies, according to the CEO of Han Sung Motor ― the largest Mercedes-Benz dealer in South Korea.“...

Updated : 2015.05.22 18:31

Korea faces second ‘investor-state dispute’

Hanocal Holdings, a Dutch subsidiary of the Abu Dhabi-based International Petroleum Investment Company, has filed a lawsuit against the South Korean government through the World Bank’s International Center for Settlement of Investment Disputes.This is the second time that Korea is facing ...

Updated : 2015.05.22 18:30

Korea’s elderly poverty rate tops OECD

South Korea recorded the highest poverty rate for elderly citizens among 34 members of the Organization for Economic Cooperation and Development, a report from the Paris-based organization showed Friday.According to the report, 49.6 percent of senior Koreans aged 65 or more were found to h...

Updated : 2015.05.22 18:30

Hanwha to foster solar power hub in Chungcheong

Hanwha Group said Friday that it would create a solar power business hub in South Chungcheong Province as part of its renewed commitment to the incumbent administration’s “creative economy” initiat...

Updated : 2015.05.22 18:27

Chinese stock connect fuels Korean investors' appetite

A growing number of South Koreans have invested in the Chinese stock market after a bourse link scheme began six months ago, but rising concern over a bubble has made them rethink their next move, market watchers said Friday.   South Korean investors traded 6.87 trillion won ($6.26 billi...

Updated : 2015.05.22 13:28

Monthly household income grows 2.6 pct in Q1

The monthly income of South Korean households increased 2.6 percent on-year in the first quarter thanks to more employment and increased wages, a government report showed Friday.The monthly income of households consisting of two members or more averaged 4.51 million won ($4,131) in the Jan...

Updated : 2015.05.22 13:27

S. Korea, ASEAN to expand customs cooperation to fuel trade

South Korea and the Association of Southeast Asian Nations have agreed to expand customs-related cooperation to fuel trade, the government said Friday.  The Korea Customs Service said the understanding was reached at the 11th annual meeting of South Korea-ASEAN customs chiefs in Brunei o...

Updated : 2015.05.22 10:40

BOK chief voices concern on young unemployment

South Korea's top central banker on Friday raised worries over bleak job market prospects for the younger generation in the coming years as the country is ready to extend the retirement age to 60 next year, echoing recent policy efforts aimed at revving up structural reform.  "Employment...

Updated : 2015.05.22 09:35

Samsung narrows gap with Intel in chip sales

Samsung Electronics Co., South Korea's top chipmaker, narrowed its gap with No. 1 global player Intel Corp. in chip sales in the first quarter of the year, data showed Friday.  Samsung's chip sales increased 6 percent on-year in the January-March period to $9.33 billion, the data compile...

Updated : 2015.05.22 09:35

Kia Motors ranks 1st in April sales in Israel

Kia Motors Corp., South Korea's second-largest automaker, emerged as the No. 1 car seller in Israel last month thanks to strong demand for the Sportage SUV and the Morning city car, industry data showed Friday.  According to the data, Kia Motors sold 2,560 vehicles in Israel last month, ...

Updated : 2015.05.22 09:33