DIRS.INFO The most relevant business & tech news

☆ South Korea prepares $57 billion corporate financial support program
▼ + stars: | 2024-02-15 | by ( ) www.cnbc.com time to read: +1 min

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. South Korea has prepared a financial support program of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates. "Our banks need to start making efforts to expand support for companies, beyond consumer financing focused on mortgage loans," said Chairman Kim Joo-hyun. Evolving trade relations with China, technological advancement in major industries and fragmentation of global supply chains pose new challenges to companies, raising the need for regulatory reform and financial support, Kim said.

Persons: Kim Joo, Kim Organizations: Financial Services Commission Locations: Seoul, South Korea, Korea, China

☆ South Korea to re-impose stock short-selling ban through June to 'level playing field'
▼ + stars: | 2023-11-05 | by ( Jack Kim | ) www.reuters.com time to read: +2 min

A journalist walks past an electronic board of the Korea Composite Stock Price Index (KOSPI) at the Korea Exchange (KRX) in Seoul, South Korea, January 20, 2016 REUTERS/Kim Hong-Ji/File Photo Acquire Licensing RightsSEOUL, Nov 5 (Reuters) - South Korea from Monday will re-impose a ban on short-selling shares at least until June to promote a "level playing field" for retail and institutional investors, financial authorities said on Sunday. The regulator last week said it would establish a team of investigators to probe short-selling by foreign investment banks for illegal activity including so-called naked short-selling. Naked short-selling - in which an investor short-sells shares without first borrowing them or determining they can be borrowed - is banned in South Korea. Earlier in the year, the regulator fined five foreign firms including Credit Suisse for naked short-selling. Officials and market watchers alike have cited uncertainty around short-selling regulation as among factors needing to be resolved for influential index provider MSCI to upgrade South Korea to developed-market status.

Persons: Kim Hong, Kim Joo, Kim, Jack Kim, Michael Perry, Christopher Cushing Organizations: Korea, Korea Exchange, REUTERS, Rights, Monday, Financial Services Commission, Financial Supervisory Service, Credit Suisse, Thomson Locations: Seoul, South Korea, Rights SEOUL, Hong Kong

☆ South Koreans sceptical as president offers olive branch to Japan
▼ + stars: | 2023-03-16 | by ( Ju-Min Park | ) www.reuters.com time to read: +5 min

SEOUL, March 16 (Reuters) - As South Korean President Yoon Suk Yeol landed in Tokyo on Thursday his plan to patch up relations with Japan faces lingering scepticism at home. Sixty-four percent of the respondents said South Korea did not need to rush to improve ties with Japan if there were no change in Tokyo's attitude, according to the poll. Yoon is the latest of many South Korean conservatives who embrace the argument that Seoul must heal divides with Japan to confront security challenges. Boycotts of Japanese products and vacations have largely faded in South Korea, and a growing number of South Koreans are travelling to Japan as COVID restrictions ease. Three Japanese animated films are among the top five at box office in South Korea.

The summit is the same week as major South Korea-U.S. military drills that routinely anger Pyongyang, and North Korea has already staged multiple missile launches - a backdrop for the message that Japan, South Korea and the United States need to close ranks. In November South Korea and Japan agreed to exchange real-time intelligence on North Korea's missile launches, which experts say will help both countries better track potential threats. "South Korea is already taking a side and entering the Cold War," said Kim Joon-hyung, a former chancellor of the Korean National Diplomatic Academy. Yoon said high-tech cooperation on supply chains between Japan and South Korea would contribute significantly to economic security. 'SHARED INTERESTS'Washington had pressed for reconciliation, but a State Department spokesperson said the recent arrangements were the result of bilateral discussions between Japan and South Korea.

☆ South Korea seeks Chinese national missing from Covid quarantine
▼ + stars: | 2023-01-04 | by ( ) www.cnbc.com time to read: +1 min

Health workers guide travelers arriving from China at a Covid-19 testing center at Incheon International Airport, west of Seoul on Jan. 3, 2023. South Korea authorities said on Wednesday they were trying to track down a Chinese national who tested positive for Covid-19 on arrival but went missing while waiting at a quarantine facility. The person tested positive after arriving at Incheon International Airport near Seoul late on Tuesday and was transferred to a nearby hotel to await admission to quarantine, but then went missing, a health official said. The individual, who was not identified, has been placed on a wanted list, the official, Kim Joo-young, said. On Tuesday, South Korea announced mandatory coronavirus tests on Chinese arrivals, joining a growing list of the countries imposing restrictions amid concerns over a wave of infections following Beijing's decision to lift stringent zero-Covid policies.

☆ South Korea seeks Chinese national missing from COVID quarantine
▼ + stars: | 2023-01-04 | by ( Hyonhee Shin | ) www.reuters.com time to read: +2 min

[1/4] Chinese tourists walk into coronavirus disease (COVID-19) testing centre upon their arrival at the Incheon International Airport in Incheon, South Korea, January 4, 2023. REUTERS/Kim Hong-JiSEOUL, Jan 4 (Reuters) - South Korea authorities said on Wednesday they were trying to track down a Chinese national who tested positive for COVID-19 on arrival but went missing while waiting at a quarantine facility. The person tested positive after arriving at Incheon International Airport near Seoul late on Tuesday and was transferred to a nearby hotel to await admission to quarantine, but then went missing, a health official said. Starting this week, South Korea required travellers from China to undergo a PCR test upon arrival. The case of the missing Chinese national triggered questions in the media about South Korea's system to control and manage infected inbound travellers.

Joo and Shin voted for a smaller hike in the rate, Rhee said in news conference, but did not elaborate on their views. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023. Almost half of respondents in the Reuters poll expected the base rate to reaching 3.75% in the first quarter of next year. After Wednesday's rate hike, the Korea Federation of Small- to Medium-sized Enterprises expressed "serious concern" about higher rates.

The Bank of Korea (BOK) raised its benchmark policy rate (KROCRT=ECI) by 50 basis points to 3.00% on Wednesday, bringing total rates hike since August last year to 250 basis points. Twenty-three of 26 analysts expected the bank to go for a half-point hike in a Reuters poll, while the remaining three expected a quarter-point hike. "The 50 bp hike today was the BOK's response to the sinking won, it seems." South Korea's three-year treasury bond futures fell after the BOK's statement on the decision. The median forecast in the poll showed the BOK's base rate going to 3.25% by year-end and then peaking at 3.50% in the first quarter of 2023.

☆ Battling Internationals split foursomes with U.S.
▼ + stars: | 2022-09-24 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

Sep 24, 2022; Charlotte, North Carolina, USA; Team USA golfer Collin Morikawa hits his tee shot on the 10th hole during the foursomes match play of the Presidents Cup golf tournament at Quail Hollow Club. The U.S. have dominated the biennial competition with an 11-1-1 record and started the day with an 8-2 lead and in position to register a Presidents Cup first - clinching the Cup on Saturday. With two sessions scheduled for a marathon day (foursomes and fourballs) the Americans had targeted the 15 1/2 total points needed to claim the title for a 12th time and extend their unbeaten run on home soil. The Internationals got another point when the South Korean pair of K.H. Register now for FREE unlimited access to Reuters.com RegisterReporting by Steve Keating in Charlotte.

☆ U.S have Internationals on the ropes after dominating fourballs
▼ + stars: | 2022-09-23 | by ( Steve Keating | ) www.reuters.com time to read: +3 min

Sep 23, 2022; Charlotte, North Carolina, USA; Team USA golfer Xander Schauffele hits his bunker shot on the eighth hole during the four-ball match play of the Presidents Cup golf tournament at Quail Hollow Club. Mandatory Credit: Peter Casey-USA TODAY SportsCHARLOTTE, N.C., Sept 23 (Reuters) - International captain Trevor Immelman vowed his men would fight to the final bell in the Presidents Cup but they were outclassed on Friday by the United States who dominated the fourballs by taking four of five points. Also earning a point for the U.S. were the stellar partnership of world numbers four and five Patrick Cantlay and Xander Schauffele, who hammered the Internationals most experience pair of Scott and Hideki Matsuyama 6&5 in foursomes. Kevin Kisner and Cameron Young also secured a half point for the U.S. as their match with Chile's Mito Pereira and South African Christiaan Bezuidenhout finished deadlocked. Register now for FREE unlimited access to Reuters.com RegisterReporting by Steve Keating in Charlotte; Editing by Ken FerrisOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "Kim Joo"

10 mentions found