(Yonhap)The South Korean government will expand through a legal revision its policy to provide more tax breaks for corporate research and development costs and employment as a means to develop the country’s next growth engines and boost job creation.The Finance Ministry announced Thursday it would have the high-income group and conglomerates pay more taxes while easing the tax burden on the low- and middle-income brackets and small businesses.“This is in line with efforts to run a reasonable and

[THE INVESTOR] The interest rate on residential property-backed loans dropped to a record low in June, Band of Korea data showed on July 28.According to the BOK, the average interest rate on residential property-backed loans dropped to 2.77 percent in June, lowest seen since the BOK began compiling related data in September 2001. The previous record low was 2.81 percent in April 2015.  (123rf)The average interest rate on all household loans dropped 0.1 percentage point from May to come in at 3.0

Calling low growth and low interest rates “the new normal” for Korea, the head of Korea Post, Korea’s second-largest investor that manages 108 trillion won ($96 billion), said it will direct more money into overseas bonds and alternative assets, going forward. “Our main focus remains the same -- a big chunk of our holdings will continue to be in safe assets, such as government notes, which we will hold to their maturity,” Kim Kee-deok said in an interview last week with The Korea Herald. Kim Kee

[THE INVESTOR] The capital gains tax on profits reaped from sale of stocks will be levied on a wider range of shareholders as the government pushes to subject all stock sales to taxation. According to the tax revision announced on July 28, capital gains tax will be levied on individuals who hold 1.5 billion won (US$1.33 million) or more of an individual company’s shares from April 2018. Both Kospi- and Kosdaq-listed stocks will be subjected to the same limit. At present, only those who hold more

[THE INVESTOR] Mirae Asset Global Investments denied July 28 a report that the firm plans to take its real estate investment trust unit public next year on stock exchanges in the US and Singapore to raise multitrillion won funds to accelerate its property investment business. “We have long wished for setting up a real estate investment trust unit and its initial public offering. But we haven’t mapped out any plans,” an official at Mirae Asset Global Investments told The Investor. On July 28, a l

[THE INVESTOR] Samsung Securities will launch a brokerage service on Taiwan-listed securities for institutional investors in a partnership with KGI Securities, the second-largest brokerage in Taiwan.According to Samsung Securities, the two companies signed a memorandum of understanding to cooperate on strengthening their brokerage businesses and expanding equity research coverage at KGI Securities’ headquarters in Taiwan on July 28.　“Samsung Securities will expand its footprint to the entire Asi

[THE INVESTOR] The KRX Startup Market will be established this year to facilitate trading stakes in startups that raise money through crowdfunding, Financial Supervisory Commission Chairman Yim Jong-yong said on July 28. “A dedicated market for trading stakes in companies (which used crowdfunding) will be established to enable (investors) to reclaim their money early,” Yim said at an event marking six months since the introduction of crowdfunding. Since crowdfunding was introduced, 4,445 individ

[THE INVESTOR] Korean panel maker LG Display may continue to show improved results due to increased prices and strong technology demand, a local brokerage house Eugene Investment & Securities said on July 28. “LG Display’s second-quarter earnings have improved boosted by OLED and quickly stabilizing prices, sporting events, increasing sales of newly launched panels and improved demand in China,” said Lee Jung, an analyst at Eugene Investment.  LG Display’s 65-inch Curved Ultra HD OLED TV Panel　T

South Korean firms sharply reduced bond issuance in the first half of 2016, yet another sign of their worsening financial health amid a drawn-out economic slump, a government tally showed Thursday.The value of ordinary corporate bonds issued in the six months totaled 18.9 trillion won ($16.7 billion), down 18.9 percent from a year earlier, according to the Financial Supervisory Service.They preferred gilt-edged bonds. Among non-guaranteed corporate bonds issued during the period, worth 18.87 tri

Naver Corp., South Korea's largest internet portal, said Thursday its second-quarter net profit jumped 71.8 percent from a year earlier, thanks to a solid gain in mobile ad revenue. Naver reported a net profit of 213.2 billion won ($189.2 million) for the April-June quarter, compared with a profit of 124 billion won for the same period last year. Second-quarter operating profit rose 44 percent on year to 272.6 billion won. Sales gained 26.3 percent to 987.2 billion won, the company said in a reg

Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world's largest maker of smartphones and semiconductors earned 8.14 trillion won ($7.19 billion) in the April-June period, up 18.06 percent from the same period the year before. Second-quarter net profit rose 1.65 percent on year to 5.84 trillion won. Sales gained 4.94 percent to 50.9 trillion won, Samsung

The Kahala Posts Group, an alliance of 10 postal services, kicked off its 14th annual meeting in Seoul on Wednesday.At the meeting, chief executives from Korea, the United States, China, Japan and six other countries discussed ways to improve the quality of EMS, or express mail service, and exchanged ideas to further develop delivery service for electronic commerce, according to the Korea Post.  Chief executives pose at the 14th Kahala Posts Group meeting in Hotel Shilla, central Seoul, Wednesda

The number of children born in South Korea dropped to an all-time seasonal low in May, official data showed Tuesday. The number fell 5.8 percent on-year to 34,400, according to Statistics Korea.