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Reporter : Yoon Ja-young
Tue, September 27, 2022 | 22:34
Companies concerned about commercial law revision
The government and lawmakers are moving to revise the commercial act to better represent small shareholders, but it is triggering concern among businesses that it will enable speculative funds to hurt their managerial control.
US exit from Iran deal threatens South Korean economy
The United States' withdrawal from the Iran nuclear deal and decision to levy fresh sanctions is expected to deal a blow to the Korean economy, which depends heavily on oil imports. A further rise in oil prices will be inevitable, leading to contractions of both consumption and investment. Industries sensitive to oil prices such as airlines and petrochemicals will be hit hard...
E-mart, Lotte Mart to provide loans to suppliers at low interest rates
Retailer E-mart will set up a 141.8 billion won fund to provide low-interest loans to its suppliers. Home plus will establish a sales channel for the startups of young entrepreneurs and Lotte Department Store will provide a special training program for employees of small and medium enterprises (SMEs).
Korea getting closer to Saudi's nuclear project
Korea is continuing efforts to win a Saudi Arabian nuclear power plant project, with energy ministers of the two countries meeting in Seoul Friday.
Companies make plans for reduced working hours
Businesses are hurrying to come up with plans to deal with the reduction in working hours that will take place in two months. The reduction is expected to lead to major conflicts with unions since workers don't want their wages cut.
'Inter-Korean shares' entering correction period
Stocks connected to economic cooperation between South Korea and North Korea are showing price corrections in the bourse. As institutional investors are further expected to shed such shares to realize gains following too steep of a surge, analysts warn that small investors should stop betting on them without analyzing the fundamentals.
South Korea expects huge synergy from inter-Korean cooperation
Economic cooperation with North Korea will lead to huge synergy and the government is considering the diverse scenarios this could bring, the finance minister said Wednesday.
Consumers frightened by soaring grocery prices
Park Ji-hyun, a working mother living in Bangbae-dong, southern Seoul, said she is surprised when she goes grocery shopping every weekend.
Connecting railways must for inter-Korean cooperation
With South Korea and North Korea likely heading toward peace and economic cooperation, connecting railways is likely to be the first move. Analysts explain that South Korea, which has been virtually an island, will see new doors opening up by being connected to the huge Eurasian continent.
Offline retailers forced to close shops
Lotte Department Store is planning to sell its Anyang branch, a first for the country's top department store chain to completely sell a shop. As shoppers shift from offline to online, it is considering similar plans for other underperforming branches, leading to speculation Korea may also soon witness the closedowns of brick-and-mortar shops as seen in other developed countries.
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