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Category: Business

GM’s Trax Crossover preorders top 6,000 in S. Korea

March 25, 2023 admin Business

The Trax Crossover by General Motors Co. (GM) has received more than 6,000 preorders in South Korea after its debut earlier this week, industry sources said Saturday.The preorders that began Wednesday here are expected to top 10,000 early next week, th…

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Seoul shares up late Wed. morning on foreign buying

March 22, 2023 admin Business

South Korean stocks traded higher late Wednesday morning on the back of solid foreign buying amid eased concerns over the contagion of a crisis in the global banking sector.The benchmark Korea Composite Stock Price Index (KOSPI) had added 23.18 points…

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Foreign currency deposits shrink sharply in Feb. on declined corporate savings

March 22, 2023 admin Business

Foreign currency deposits shrank at the fastest pace in about 11 years in February on decreased corporate savings, central bank data showed Wednesday.Residents’ outstanding foreign currency-denominated deposits reached US$97.52 billion as of end-Febru…

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Banks’ bad loans up in Q4 on rise in overdue biz loans

March 22, 2023 admin Business

South Korean banks’ nonperforming loans expanded in the fourth quarter from three months earlier on a rise in overdue corporate loans, data showed Wednesday.Bad loans held by local banks reached 10.1 trillion won (US$7.7 billion) at the end of Decembe…

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Childbirths sink 6 pct to fresh low in Jan.

March 22, 2023 admin Business

The number of babies born in South Korea dipped to yet another fresh low in January, data showed Wednesday, reflecting the dire population crisis in Asia’s fourth-largest economy.Just 23,179 babies were born in January this year, sinking 6 percent fro…

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Population mobility lowest in 29 years in Feb. amid home market slump

March 22, 2023 admin Business

The number of South Koreans moving to other regions fell to the lowest level in 29 years in February, data showed Wednesday, as higher borrowing costs and economic uncertainties induced more people to avoid buying new properties.Around 622,000 people …

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Dongwon’s takeover bid for vaccine maker falls through

March 22, 2023 admin Business

South Korean seafood company Dongwon Industries Co.’s bid to acquire a local vaccine maker fell through due to unspecified reasons, according to company officials said Thursday.Boryung Biopharma Co. has withdrawn the exclusive right to due diligence i…

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British carmaker INEOS to enter S. Korea with Grenadier SUV

March 22, 2023 admin Business

British carmaker INEOS Automotive Ltd. said Wednesday it will launch the Grenadier SUV in South Korea later this year after showcasing it to the public at the Seoul Mobility Show set to open late this month.Ahead of the planned launch, INEOS Automotiv…

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25 police officers disciplined since 2021 for leaking official secrets

March 22, 2023 admin Business

As many as 25 police officers have been disciplined over the past two years for leaking crackdown information or investigation data to the outside, a National Police Agency document said Wednesday.According to the document obtained and released by a r…

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(LEAD) Chips Act incentives limit expansion of semiconductor manufacturing capacity in China by 5 pct

March 22, 2023 admin Business

The U.S. CHIPS and Science Act will limit to 5 percent the expansion of semiconductor manufacturing capacity in foreign countries of concern for companies that receive funds under the new act, the U.S. Department of Commerce has announced.The proposed…

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