War of sovereign funds
The Korea Times Sunday 22nd May, 2011
KIC aims to expand assets to $100 billion to join 'premier league' By Kim Jae-kyoung A war without gunfire is looming larger and larger. There is a heated competition brewing between major powers and emerging forces over dwindling energy and other natural resources and eventually the expansion of their economic territories. At the center stage of the war are sovereign wealth funds (SWF) representing each country, a pool of money derived from a country's reserves, which is set aside for investment purposes. With soaring foreign exchange reserves, many countries are stepping up efforts to get the upper hand in this economic war. On the surface, the move is simply seen as an attempt to reduce their exposure to U.S. government debt and to increase emerging markets asset allocations...
Read the full story at The Korea Times
Comments
More Seoul News
RSS-
Iran wins at S.Korea both teams qualify for WCup
SEOUL, South Korea (AP) -Iran won 1-0 at South Korea on Tuesday in a result that secured both teams a spot at next year's World Cup, but the hosts only just scraped ...
-
Seoul Beijing to assess North Korean issues
South Korean Foreign Minister Yun Byung-se told lawmakers Tuesday diplomatic outreach with China would focus on North Korean concerns. South Korean President Park Guen-hye is scheduled to meet later this month in Beijing with Chinese ...
-
121 South Korean schools have no newcomers
Data indicate 121 of 6,203 elementary schools in South Korea did not recruit any new students this year amid the country's low birthrate. Some 1,596 other schools reported less than 10 new students in 2013. Most of the schools without newcomers are in rural areas, the data show. Officials attributed the declining number of students to the country's chronically low birthrate. ...
-
South Korea begins bidding for $7.3 billion fighter buy
SEOUL, South Korea-South Korea has begun accepting bids from aircraft makers to supply 60 new fighter jets at an estimated cost of $7.3 billion (8.3 trillion won). Two arms procurement officials said the bidding began Tuesday and is scheduled to end next week. Boeing's F-15 Silent Eagle, EADS' Eurofighter Typhoon and Lockheed Martin's F-35 Joint Strike Fighter are competing. The ...
-
South Korea invites North Korea to 2014 Asian Games
SEOUL, June 18 (Itar-Tass) - South Korea has invited North Korea to attend the 17th Asian Games that will take place in South Korea’s Incheon next year, the Yonhap news agency said on Tuesday. "We have sent an invitation to North Korea via the Olympic Council of Asia, but have received no response so far," said Park Jong-gil, the second vice minister for culture, sports and ...
-
Digitimes Research South Korea firms mixed on solar business developments
The solar market seemed promising for South Korea-based big enterprises such as Samsung, LG, and Hyundai. However, continuous loss has pushed these firms to modify the business ...
-
Paradigm shift in South Koreas DPRK policy
High-level talks between South Korea and the Democratic People's Republic of Korea (DPRK) were called off last week. If it happened, it could have ended the no-dialogue period between the two sides under the former Lee Myung-bak administration.Pyongyang criticized Seoul for its discourtesy, saying that South Korea downgraded the rank of its chief delegate from the originally planned ...
-
Seoul shares rise 0.9 pct as autos techs fuel gains
SEOUL, June 18 | Tue Jun 18, 2013 2:08am EDT SEOUL, June 18 (Reuters) - Seoul shares advanced on Tuesday fuelled by rallies in auto and technology heavyweights including Hyundai Motor and Samsung Electronics. Samsung Electronics shares finished up 1.5 percent and Hyundai Motor rose 3.8 percent. The Korea Composite Stock Price Index (KOSPI) finished up 0.93 percent at 1,900.62 points. ...
-
S. Koreas new rules let manufacturers own financial subsidiaries
South Korea's antitrust regulator will allow manufacturing-focused conglomerates to own financial subsidiaries such as insurance companies, but only if they reorganise their governance structures to transform into holding companies. In a policy and legislative briefing to the National Assembly's National Policy Committee on Monday, the Fair Trade Commission said that chaebol, or ...
-
S. Korea aims to export airport infrastructure
Hope that a Korean consortium, led by the Incheon International Airport Corp., could win the first deal to build an international airport overseas this month is rising as the government is developing a package of programmes to support the deal. Backed up by its global brand power, the IIAC partially exported its know-how to Russia, the Philippines, Nepal, Cambodia and Indonesia, but has not yet ...
-
S.Korea top North envoy heads to US
SEOUL (AFP) - South Korea's top envoy on North Korea left on Tuesday for a meeting in Washington with his US and Japanese counterparts, two days after Pyongyang proposed direct, high-level talks with the United States.After Washington, Cho Tae-Yong will travel on to Beijing -- where he is likely to overlap with a visit by North Korea's chief nuclear negotiator, Kim Kye-Gwan, to the ...
-
Seoul Washington turn cold shoulder to N. Korea overture
North Korea's surprise offer of dialogue with the US on Sunday was met with a frosty reaction by Seoul and Washington, which both call on Pyongyang to prove sincerity with its actions before resuming talks. Pyongyang proposed a high-level meeting with Washington to defuse military tensions and discuss a peace treaty and the US campaign for a nuclear-free world. The overture by the ...
-
South Korea struggling without Japanese tourists
Recent economic and diplomatic issues within South Korea has resulted in a significant drop in tourist arrivals from Japan, according to new research data. Approximately 689,000 Japanese travellers visited South Korea during the first three months of 2013, a 22 percent decline in visitors compared with the same period last year, Channel News Asia reported. These figures stem from data ...
-
Seoul shares little changed foreign selling persists
Mon Jun 17, 2013 9:50pm EDT * Market little changed as investors hold back before Fed meeting * Foreign investors sell for an eighth session * Techs rebound, banking stocks slide SEOUL, June 18 (Reuters) - Seoul shares traded nearly flat on Tuesday as investors continued to speculate over the Federal Reserve's intentions for its stimulus programme ahead of its monetary meeting starting later ...
-
Survey Reveals Teens Porn-Browsing Habits
Foreign migrant workers in small or medium-sized firms in Korea are earning up to 11 times what they used to make in their own country, a survey released Monday suggests. They earn an average of W1.62 million including overtime pay and bonuses a ...
-
Seouls Govt Call Center Impresses Foreign Countries
Foreign migrant workers in small or medium-sized firms in Korea are earning up to 11 times what they used to make in their own country, a survey released Monday suggests. They earn an average of W1.62 million including overtime pay and bonuses a ...
-
N.Koreans in South Bewildered and Rejected
Twenty North Korean defectors have recently arrived in Seoul after weeks under the protection of the South Korean Embassy in Laos. They boarded in Vientiane and arrived safely, a diplomatic source said Monday. Once they have been questioned they will be resettled ...
-
Seoul shares open higher investors cautious before Fed outcome
SEOUL, June 18 | Mon Jun 17, 2013 8:06pm EDT SEOUL, June 18 (Reuters) - Seoul shares opened higher on Tuesday after firm gains on Wall Street, but rises were limited as investors continue to speculate over the Federal Reserve's intentions for its stimulus programme ahead of a meeting of policymakers this week. The Korea Composite Stock Price Index (KOSPI) was up 0.2 percent at ...
-
South Korea PPI Dips 0.4 In May
Producer prices in South Korea were down 0.4 percent on month in May, the Bank of Korea said on Tuesday - accelerating from the 0.3 percent decline in April.By individual categories, agricultural, forestry and marine products were down 2.8 percent, while manufacturing industry products lost 0.5 percent and services added 0.1 percent.On a yearly basis, producer prices fell 2.6 percent after ...
-
Video South Korea sceptical of U.S.-North negotiations
South Korea's Unification Minister Ryoo Kihl-jae says the North's stance on its controversial nuclear programme stand in the way of talks between Northern and U.S. leaders. Jessica Gray ...
-
South Korea doubts Pyongyangs sincerity
The South Korean government expects more sincerity from North Korea regarding the potential for multilateral negotiations, a minister said Monday. The official Korean Central News Agency said last weekend the North Korean government was interested in "high-level talks" with the U.S. government to establish security on the Korean Peninsula. Multilateral nuclear talks among the two ...
News from around our Network
Comments
No comments yet for this story
Have your say