SK Group, South Korea’s semiconductor-to-telecommunications conglomerate, said Monday it had signed a partnership deal with the United Arab Emirates’ sovereign wealth fund to tackle climate change together by establishing a carbon credit market in Asia. SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, signed a memorandum of understanding with Khaldoon.
Seoul Fashion Week, South Korea’s biggest fashion event held every March and October, kicked off Friday with physical catwalk shows and offline events for the first time in three years.
The exchange traded fund market in South Korea is soon expected to expand in size along with the government’s move to ease regulations regarding actively managed ETFs, a report showed on May 31. As the Korea Exchange has allowed the listing of active ETFs since August, eight new related products were launched on the nation’s main bourse Kospi on Tuesday. Previously, only bond ETFs could be listed on .
Korean millennials say buying a house is difficult using only income |
(123rf)
Amid soaring house prices, seven out of 10 South Koreans born in 1980s and 1990s believe having their own house is necessary but were pessimistic about purchasing residential property only with their income, a survey showed Wednesday.
According to the survey, conducted by Mirae Asset Investment and Pension Center and Hankook Research in May, 70.6 percent of respondents said buying a house is necessary, while 73 percent said they think it is difficult for the young generation to do so with their salary.
A separate question showed 68 percent of respondents were pessimistic over individuals’ capacity to accumulate wealth, citing lower economic growth compared to the country’s rapid growth in the 1970s and 1980s.
Most expensive house in Korea: Shinsegae chairwoman’s W30b residence |
An exterior of Shinsegae Group Chairwoman Lee Myeong-hee’s house in Hannam-dong, Seoul (Yonhap)
A Hannam-dong residence in central Seoul owned by Shinsegae Group’s chief retained its top position as the most expensive house in Korea, data showed Friday.
The value of Shinsegae chairwoman Lee Myeong-hee’s 2,862-square-meter house, as assessed by the government, was 29.53 billion won ($26.88 million), up 6.6 percent from this year. Lee is the younger sister of late Samsung Group Chairman Lee Kun-hee.
Previously, the house’s declared price surged by 59.7 percent on-year from 16.9 billion won to 27 billion won in 2019. It rose by an additional 2.6 percent on-year to 27.71 billion won this year.