South Korea will seek to boost debt issues of small and medium-sized enterprises with credit ratings of below “A” through increased investor protection and opening up new channels for debt financing, the Financial Services Commission said Friday.This comes as investors are becoming more risk-averse, investing only in high-grade bonds issued by Korean conglomerates amid decreasing market confidence and a global slowdown.With its measures, the FSC seeks to reinvigorate debt financing of small busi

July 1, 2016

The South Korean government will designate shipbuilding as a sector that needs “special state assistance” with the Finance Ministry and Labor Ministry providing aid to employees facing job losses due to debt restructuring.Finance Minister Yoo Il-ho said Thursday that the government will seek to provide financial relief to those who lose their jobs in the wake of corporate restructuring, and help them receive proper training and education so they can find new jobs. Finance Minister Yoo Il-ho (Yon

June 30, 2016

The South Korean government will designate shipbuilding as a sector that needs “special state assistance” with the Finance Ministry and Labor Ministry providing aid to employees facing job losses due to debt restructuring.Finance Minister Yoo Il-ho said Thursday that the government will seek to provide financial relief to those who lose their jobs in the wake of corporate restructuring, and help them receive proper training and education so they can find new jobs.Shipbuilding employees in region

June 30, 2016

Seoul stocks ended higher Wednesday as foreign investors returned to their buying mode with concerns over Brexit easing amid expansionary measures worldwide.The benchmark KOSPI and the Korean currency gained along with the British pound after days of volatility since the U.K.’s vote to leave the European Union, as the market worldwide sees Brexit more as a political crisis than a financial crisis. (Yonhap)The benchmark equity index closed at 1956.36 up 1.04 percent on Wednesday, with the won-dol

June 29, 2016

Sixteenth-century British dramatist Thomas Dekker said,” Sleep is that golden chain that ties health and our bodies together,” while the Dalai Lama said, “Sleep is the best meditation.”It is no longer a debate as to whether getting a good night’s sleep can help people regain their energy and refresh their minds. In fact, one-third of a person’s daily life is composed of resting on a bed. Therefore, it is crucial to sleep comfortably because it affects your health.Kanuda pillowsThere are all sort

Industry June 28, 2016

The British pound has fallen, along with the euro, Chinese yuan and, not to mention, the Korean won, while the dollar and Japanese yen strengthened following the U.K.’s vote to leave the European Union.The won-dollar exchange opened with a decrease of 0.2 won at 1,150 won last Friday, but weakened almost 30 won, closing at 1,179.9 won as the British voted in favor of exiting the EU, while the KOSPI lost more than 3 percent.Analysts forecast the won-dollar exchange to touch as high as 1,200 to 1,

June 26, 2016

The “Leave” outcome in the U.K. is expected to further overshadow the prospects of the Korean economy, which is already facing a slew of negative outlooks on employment, inflation and exports, analysts say.An exit from the European Union is likely to slow Korean exports to its free trading partner, as Korea and the U.K., as well as the EU, will have to renegotiate the terms of their trade pacts and tariffs separately, now that the world’s fifth-largest economy will have to start talks with the U

June 26, 2016

South Korea’s financial authorities are increasing their monitoring of the financial market in light of the vote opening on Thursday on whether Britain should leave the European Union. Global analysts have been cautioning that an exit vote would be devastating for the global economy, including Korea where British capital invested in local stocks accounts for over 8 percent of the total as of May this year. British Prime Minister David Cameron meets citizens in London on May 30, 2016. (Yonhap)“Th

June 23, 2016

South Korea’s Finance Minister Yoo Il-ho said Wednesday the government will devise a new set of economic policies to counter growing uncertainties and difficulties stemming from debt restructuring and decreasing number of jobs in the latter half of this year.In an economic-related ministerial meeting on Wednesday, Minister Yoo said the government needs to prepare for the worst through policy measures as the economy is expected to further deteriorate later this year.“The economy has recently show

June 22, 2016

Funds deposited in investment accounts reached a record 26.2 trillion won ($22.7 billion) as of last Friday on the back of low interest rates, according to the Korea Financial Investment Association on Tuesday.With the central bank slashing its key base rate to a historic low of 1.25 percent, investors have been either reallocating their money from bank deposits to investment accounts or parking their funds in securities accounts to invest in equities.Previous record deposit holdings in investme

June 21, 2016

WeMade Entertainment, once a dominant game developer and publisher, is facing a slowdown as it struggles to release a game that can be a hit at home and abroad. The KOSDAQ-listed gamer, which brought fans blockbuster games such as “Candy Pang” and “Wind Runner,” performed below expectations in the first half of this year, with its highly anticipated role-playing action game “Soul & Stone” flopping early this year.                                                      Wemade‘s “Wind Runner” (WeMad

June 20, 2016

[THE INVESTOR] With the central bank slashing its benchmark interest rate to a historic low of 1.25 percent, putting money in bank accounts will not increase people’s income, as bank deposit rates will drop in line with the key base rate.Experts recommend reallocating funds in bank deposits to other assets that offer higher yields. Real estate may be an option, but not a lot of people can afford to invest in an apartment unless they borrow money from banks with low interest rates. Investing fund

June 17, 2016

With the central bank slashing its benchmark interest rate to a historic low of 1.25 percent, putting money in bank accounts will not increase people’s income, as bank deposit rates will drop in line with the key base rate.Experts recommend reallocating people’s funds in bank deposits to other assets that offer higher yields. Real estates may be an option, but not a lot of people can afford to invest in an apartment unless they borrow money from banks with low interest rates. Funds investing in

June 17, 2016

There is a saying, “Money does not grow on trees.” One has to work really hard to earn it.But making an honest buck in this age of low interest rates and low growth has become harder than ever.It is not as if Koreans do not work hard. In fact, Koreans work the longest hours after Mexicans in the Organization for Economic Cooperation and Development. Koreans worked 2,124 hours in 2014, according to the latest data.Working long hours does not necessarily mean that they work hard. But still, averag

June 17, 2016

Weak employment and low inflation led the U.S. Federal Open Market Committee to freeze its federal fund rate at 0.25 to 0.50 percent, extending the possibility and uncertainty over a rate rise, analysts say.The U.S. FOMC said that it will maintain its benchmark interest rate, but remains “accommodative,” indicating that it will adjust its monetary policy in accordance with conditions in the labor market and consumer prices. Korean stocks fell to nearly a one-month low on Thursday as the U.S. Fed

June 16, 2016