The slow growth of South Korea’s per-capita income widened its income gap with the Group of Seven (G7) countries. In 2020, the nation surpassed Italy in the GNI per capita standings, celebrating its economic takeoff to rival G7 economies. But South Korea stayed above Italy for only one year, and its
As corporate loan delinquencies rise, the increasing volume of non-performing loans in banks has eroded their capacity to absorb losses, leading to a deterioration in their financial health.According to Kookmin Bank, Shinhan, Hana, and Woori banks on Oct. 30, the balance of non-performing loans (NPL
The National Pension Service (NPS) Investment Management has announced on Oct. 30 that the cumulative return on its funds for the first eight months of this year stands at an impressive 10.27 percent. This represents a significant increase of 0.54 percentage points compared to the return rate of 9.7
While the global economy faces a downturn, domestic beauty industry leaders like Amorepacific and LG Household & Health Care are grappling with challenging times. In stark contrast, Kolmar is flourishing on its own. Amid the repercussions of the economic downturn, the consumer market has experienced
The recent revelation of illegal short selling by global investment banks (IBs) and a plunge in the stock market are fueling a debate on a total ban on short selling of all listed stocks. “We will improve all systems from scratch,” Financial Services Commission (FSC) Chairman Kim Joo-hyun said in re
Investor concerns are growing within the overseas real estate fund market as even prime overseas office buildings with low vacancy rates are showing investment losses. Particularly, as the maturity dates of real estate funds established from 2018 to 2021 are set to continue, warning signs are also o
While the government has been emphasizing price stability in recent times, foreign and multinational companies are exacerbating domestic price increases.According to the retail industry on Oct. 28, it has been pointed out that despite the government’s recent call for restraint in price increases, so
According to industry sources and foreign reports on Oct. 29, global automaker Ford Motor is set to reduce its initial US$12 billion investment plan for electric vehicle projects after recording approximately US$1.3 billion in losses in its electric vehicle division during the third quarter of this
In the third quarter (July-September) of this year, the Korean economy continued to grow thanks to a recovery in exports and consumption in the private sector. However, uncertainties surrounding outlooks on growth for the fourth quarter have increased with consumer and business sentiment deteriorati
The Financial Supervisory Service (FSS) has forwarded its indictment recommendation to the prosecution, targeting Kakao and Kakao Entertainment Corporation in connection with their alleged involvement in the stock manipulation case of SM Entertainment.Following his summons for questioning, Kim Beom-
Starting next year, foreign residents in South Korea seeking eligibility for health insurance as dependent beneficiaries must have a minimum of 6 months of residency.According to the Ministry of Health and Welfare and the National Health Insurance Service on Oct. 26, an amendment to the Health Insur
As Samsung marks the first anniversary of Chairman Lee Jae-yong’s inauguration, the company is ramping up efforts to bolster the prominence of its board. On Oct. 26, Samsung SDI and Samsung SDS held board meetings where they decided to introduce a “Senior Outside Director” system.The Senior Outside
During his six-day state visits to Saudi Arabia and Qatar, President Yoon Suk-yeol secured business contracts totaling $202 billion (27.3 trillion won). With these trips, he concluded his diplomatic rounds with the “Big 3” Middle Eastern countries, which began with a visit to the United Arab Emirate
The proportion of so-called “zombie companies” unable to cover interest costs with their operating profit has reached its highest level since 2009, standing at 42.3 percent last year. Due to the global economic slowdown and the impact of high interest rates, corporate underperformance persisted in t
In the third quarter, LG Display reported an operating loss of 662.1 billion won (US$489 million), marking the sixth consecutive quarter of losses. However, it is showing an improvement in its performance by reducing its deficit compared to the first quarter of this year, where it had an operating l
LG Energy Solution has decided to utilize its new Arizona factory as the primary production hub for the cylindrical 46 Series battery. The company also unveiled detailed production plans for the budget-friendly product line, including the lithium-iron-phosphate (LFP) by 2026 and the lithium-manganes
On Oct. 25, Shinhan Card announced that its Kazakhstan subsidiary, Shinhan Finance, successfully raised US$60 million in investment from the International Finance Corporation (IFC).The investment signing ceremony was conducted virtually and was attended by Moon Dong-kwon, president of Shinhan Card,
The Korea-Canada Project Exploration and Investment Collaboration Business Forum was held at the Four Seasons Hotel in the Jongno district of Seoul on Oct. 25.The Korea Trade Insurance Corporation (K-SURE) held a joint meeting with the Export Development Canada (EDC) on Oct. 25 to strengthen the exp
Officials from the Suseo High-Speed Railway operator SR and Hyundai Rotem are under investigation in connection with a suspected 1 trillion won (US$738 million) bid-rigging scandal involving third-generation high-speed train procurement.According to the police on Oct. 17, the Financial Crimes Invest
The top 13 countries in global greenhouse gas (GHG) emissions account for 70 percent of all GHG emissions. As global GHG emissions continue to rise, it will be difficult to reach the 2030 Nationally Determined Contribution (NDC) target, many experts expect.The Federation of Korean Industries (FKI) s