Anbang Insurance is acquiring Allianz’s operations in South Korea after dropping its offer to buy Starwood hotels. The deal is waiting for approval from South Korea’s financial regulator.
Korea, South
South Korea Announces $313 Billion Funding for Projects to Fight Climate Change
South Korea has committed to providing 420 trillion won ($313.4 billion) in policy loans to finance projects that will help the country meet its climate goals.
South Korea Exploring Potential Sanctions for Businesses That Fail to Meet Shareholder Return Goals
South Korea's market watchdog warned that corporations may be fined for failing to boost shareholder returns over time.
In South Korea, Companies Are Paying Workers up to $75,000 to Have Babies
Some companies in South Korea are giving employees up to $75,000 bonuses to have babies. Some companies in South Korea are giving employees up to $75,000 bonuses to have babies to help raise the country's declining birth rate.
South Korea Orders Protesting Doctors to Return to Work or Face Legal Action
South Korea has ordered thousands of protesting physicians to return to work immediately. South Korea's attempt to recruit more medical students has been met with protests by around 7,800 medical interns and residents, who have walked off their work this week.
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South Korean venture capital firms are eyeing overseas biotech industry to accelerate investment goals. At the sametime, tech startups in Korea also began to flourish.
Encouraging gains on Wall Street were propelling up stocks in Asia and Australia. Barring Hang Kong and Japan, all the major market benchmark indices in Asia and Australia, rose.
Asian stocks rebounded on Monday ahead of G20 Finance Ministers meeting, which is scheduled on this weekend. Investors are positively looking to reassurances about global economy growth.
Yello Mobile, South Korean fastest growing mobile app company has received $30 million more fund from SBI Holdings Inc. With the recent investment, the fund grows to $73 million in total. However, the $4 billion enterprise expects further investments before closing the financial round in the coming months.
McDonald's is about to launch its experimental outlet in Seoul, South Korea, with draft beer. The fast-food giant has taken its first steps to introduce the concept of beer with hamburgers in Asia, having added this beverage long time back in its German, French, and Spanish outlets. If the Asian people embrace this concept, McDonald's is ready to open up two more similar outlets in Gangnam and Sinchon.
BoK has decided to keep hold benchmark interest rates in place on Tuesday. To tackle the ongoing sluggish economic growth, South Korean government has unveiled a stimulus package on February 3. BoK is predicted to analyze the impact of the stimulus package and hence opts for keeping rates unchanged.
Samsung is probably going to unveil Galaxy S7 and S7 Edge as its new flagship smart phones in the WMC to be held within February 22 to 25. Introduction of Galaxy S6 variants hasn’t become much fruitful for Samsung. But the new S7 variants are widely assumed to bring fortune for Samsung since incorporation of mass desired features.
Since her 2013 inauguration, president Park Geun-hye tried to enhance startups company and investing $3 billion. Now country starts to see the payoff of its initiative. One last hurdle is to change the people's mindset on entrepreneurship.
South Korean steelmaker POSCO announced a consolidated net profit, excluding minority interests, of 181 billion won for 2015, down from 626 billion won in the previous year.
