Oil Price Drop Making South Korean Shipbuilders Nervous
Apr 24, 2020 04:35 am UTC| Economy Business
Plummeting US oil prices and reduced demand for crude oil, and global shipments are making South Koreas shipbuilders jittery, causing them to put order plans on hold. For the first time in history, US benchmark West...
Korea to Ease Shipping Industry's Woes with 1.25 T Won Infusion
Apr 24, 2020 04:15 am UTC| Economy
South Korea will inject 1.25 trillion won to the local shipping industry help provide more liquidity to shipping firms hurt by the pandemic. Of that amount, 100 billion won will be allocated to ease ships loan-to-value...
Rebounding Oil Prices Boosts Seoul Stocks
Apr 24, 2020 04:14 am UTC| Economy Investing
South Korean stocks opened higher Thursday due to rebounding oil prices and an apparent slowdown in the COVID-19 pandemic. The Korea Composite Stock Price Index (KOSPI) rose 0.55 percent, to 1,906.49 in the first 15...
Korean Automakers Request Government for Liquidity and Tax Support
Apr 24, 2020 04:14 am UTC| Economy
Korean auto and auto parts makers requested the government for liquidity support and temporary exemption from the acquisition tax due to significantly diminished sales. Companies from the automotive industry are having...
Korea's State Banks to Help Asiana Airlines Get Back on Track
Apr 22, 2020 12:01 pm UTC| Economy Business
Koreas two state-run policy banks will inject a combined 1.7 trillion won to save the beleaguered flag carrier Asiana Airlines. The banks, Korea Development Bank and Export-Import Bank of Korea, made the announcement...
South Korea Credit Card Loans Soar by 26% in March
Apr 22, 2020 12:01 pm UTC| Economy
Cash-strapped South Koreans pushed their credit card loans to a 25.6 percent on-year increase in March amid a prolonged lockdown. Seven credit card firms -- Shinhan, KB Kookmin, Woori, Hana, Samsung, Hyundai, and Lotte...
Korean Won Weakens Sharply Due to Speculations About Kim Jong Un's Health
Apr 22, 2020 10:40 am UTC| Economy
The Korean won had fallen to a low of 1,241.15 against the US dollar Tuesday following unconfirmed reports that North Korean leader Kim Jong Un is gravely ill. The Korean won last fell to 1,229.59 per dollar. CNN...
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