As the final bid for the sale of Asiana Airlines’ cargo business approaches, attention is turning to the future owner. The acquisition is expected to amount to around 1 trillion won, including debt. Out of the four low-cost carriers (LCCs) that have entered the bidding, three are experiencing capita
The amount of short-term foreign currency borrowings hastily acquired by banks alone has exceeded 4 trillion won. With the won-to-dollar exchange rate surpassing 1,400 won and reaching new highs, the risks associated with short-term foreign currency debts have also increased.According to business di
The amount of debts owed by households and businesses in Korea was more than twice Korea’s gross domestic product (GDP). About half of the nation’s companies were unable to pay even interest on their debts with money they earned from sales, revealing their vulnerability.The ratio of private credit t
SK Innovation announced at its shareholder meeting held on March 28 that it will reassess numerous businesses it has aggressively pursued so far. The company expressed its intention to focus on select ventures and concentrate its efforts.According to industry sources on March 28, SK has been conduct
On March 19, the Anti-Corruption Investigation Division of the Seoul Metropolitan Police Agency conducted a search and seizure at the headquarters of KG Mobility (KGM) in Pyeongtaek City, Gyeonggi Province. The CEO of KGM, Jung Yong-won, and employees have been under investigation for embezzling com
For four consecutive years, South Korea has maintained its position as the top country among 34 advanced and emerging markets worldwide in terms of household debt relative to gross domestic product (GDP). As of the end of last year, the ratio stood at 100.1 percent, slightly lower than the previous
The Monetary Policy Board of the Bank of Korea (BOK) has decided to maintain the key interest rate at the existing level of 3.50 percent. Despite the domestic inflation rate falling to the 2 percent range, it is deemed difficult to consider it as having reached a stable level, especially considering
The Financial Supervisory Service (FSS) is planning to broaden the range of corporate disclosures accessible to foreign investors in real-time and to introduce a new service exclusively in English called “English Open DART” by the end of the year.On Feb. 18, the FSS announced the road map for improv
Nine out of 10 Korean manufacturers believe that overseas carbon neutrality policies such as those in the United States and Europe affect their business operations, a survey found.According to the Korea Chamber of Commerce and Industry (KCCI), which recently surveyed 300 Korean manufacturing compani
The Organization for Economic Cooperation and Development (OECD) has raised its global economic growth forecast for this year, but lowered its economic growth forecast for South Korea. While the organization said that global trade markets such as markets of semiconductors and information technology
The Korea Investment Corporation (KIC) has announced on Feb. 5 that it achieved a double-digit rate of return last year, with total assets under management increasing by over US$20 billion (26.71 trillion won).The KIC revealed on the same day that the annual rate of return for the year 2023, denomin
Cho Dong-chul, the president of Korea Development Institute (KDI), publicly issued a stark warning on government debt, going so far as to state, “The country will collapse.” In particular, he cautioned that South Korea’s national debt-to-gross domestic product (GDP) ratio could skyrocket to over 250
Experts are anticipating that the economic growth rate for South Korea will reach 2.2 percent this year. This aligns with the forecasts presented by the government and the International Monetary Fund (IMF), both indicating a 2.2 percent growth. It slightly surpasses the Bank of Korea’s projection of
The Bank of Korea (BOK) has decided to maintain the benchmark interest rate at 3.50 percent during its first Monetary Policy Committee meeting of the year, marking the “eighth consecutive” freeze. This decision is interpreted as a cautious stance, considering the ongoing global trend of major centra
The sale of GS E&C’s subsidiary GS Inima will begin in earnest from February.According to sources in the investment banking (IB) industry on Jan. 10, GS E&C will distribute an investment prospectus for the sale of a stake in its wholly owned subsidiary GS Inima before the Lunar New Year holiday in F
SK hynix has successfully issued a US$1.5 billion dollar-denominated bond.According to foreign reports on Jan. 9, SK hynix conducted demand forecasts for dollar bonds in Asia, Europe, and the United States the previous day and confirmed the issuance of a US$1.5 billion bond. The issued dollar bonds
Hanwha Aerospace will borrow 400 billion won (US$304 million) and pay off all of its debts with the funds. Analysts say that the company will feel the burden of investing 1.3 trillion won to acquire Hanwha Ocean in 2023 more acutely.Hanwha Aerospace announced on Jan. 5 that it has finalized the issu
More than four out of 10 listed companies in Korea were unable to pay interest with money they made, according to a recent survey. High interest rates and stagflation worsened the business environment, raising red flags on their financial conditions.As of the third quarter of 2023, 710 of 1,674 list
The government has announced its intention to reduce the ratio of household debt to gross domestic product (GDP) to below 100 percent by the year 2027.On Jan. 4, the government released the “2024 Economic Policy Direction,” outlining its strategy for managing household debt.According to the Bank for
Household and corporate debt as a percentage of the gross domestic product (GDP) has decreased for the first time in five years and nine months, signaling a trend of adjustment for the surging debt due to the COVID-19 pandemic.According to preliminary third-quarter cash flow data released by the Ban