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Korean residents' overseas card (credit + debit) spending totaled $5.93 billion in the third quarter this year, a 3.9% increase YoY. South Korean residents' overseas card spending surpassed $5.9 billion in the third quarter of this year, setting a new all-time record. This increase was attributed to the rise in Korean nationals traveling abroad during summer vacation and holiday seasons, while…
The Korea Exchange's electronic scoreboard shows the KOSPI index closing at 3657.28 on Oct. 15, up 95.47 points (2.68%) from the previous trading day, setting a new all-time high. (Captured from Yonhapnews TV) Amid the rally in the domestic stock market, foreign investment in domestic stocks last month saw the largest inflow in 1 year and 7 months. According to a report on the international…
Semiconductor chips are seen on a circuit board of a computer in this illustration picture. REUTERS U.S. President Donald Trump has announced that he will impose a tariff of about 100% on imported semiconductors used in consumer electronics and other products. Trump stated on Aug. 6 (local time) at a White House event announcing Apple's investment in the United States, "We will be putting a tariff…
A chart published by the Institute of International Finance showing the increase or decrease in the amount of corporate bankruptcies in 17 major countries during January to October 2023 compared to the same period last year. South Korea is 2nd on the chart with about a 40% increase. In the ratio of corporate debt to South Korea's gross domestic product (GDP), it has been revealed that the country…
In the era of high interest rates and low growth, the rapidly increasing corporate debt has become another critical concern for the South Korean economy. Particularly worrisome is the growing prevalence of zombie companies that are keeping themselves afloat through debt, primarily among small and medium-sized enterprises (SMEs) with weak financial reserves. Moreover, the surge in loan delinquency…
The author is an analyst of NH Investment & Securities. He can be reached at minjae.lee@nhqv.com. -- Ed. Presidential transition committee's housing policy proposals The presidential transition committee, which was launched in March following the presidential election, has been actively communicating the housing policies of the new Yoon administration with the market. According to the committee,…
The authors are economists of Shinhan Investment Corp. They can be reached at heekim@shinhan.com. - Ed. Rising grain prices leading to agflation fears Rising prices of agricultural products are driving agflation concerns. Global farm production was hit hard by last winter's unfavorable weather conditions, and the Russia-Ukraine war is causing supply to tighten even further. Changes in agricultural…
The authors are economists of Shinhan Investment Corp. They can be reached at keonhyeong.ha@shinhan.com. -- Ed. COVID-19 pandemic and Russia-Ukraine war fueling further deglobalization Globalization, after driving the world's economies, politics and cultural developments through the 20th century, started to lose steam since the financial crisis of 2008. The move toward deglobalization began to…
The Lotte World Tower Sky Bridge (Photo: Lotte Property & Development) Located 541 meters above the ground, the Sky Bridge of the Lotte World Tower is a bridge at the highest altitude in the world. The bridge, nicknamed a "rooftop on a rooftop," has been gaining popularity since 2020 by operating a so-called "high-altitude activity program" as an experience course for the public. The bridge drew…
Drone taxis are expected to carry passengers between Seoul and the Incheon and Gimpo Airports starting from 2025. The Ministry of Land, Infrastructure and Transport published the first version of its urban air mobility concept on Sept. 28. According to the publication, drone taxis are expected to be used for movement between Seoul and the Incheon and Gimpo Airports starting from 2025. These days,…
