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Finance

Markets

Thu, August 22, 2019 | 16:13

All eyes on Fed meeting this week

This week, the U.S. Federal Open Market Committee (FOMC) will hold a monetary policy meeting that could either deal a blow to or restore confidence in the global economy. Analysts say investors will be watching the meeting led by Fed Chairman Jerome Powell from June 18 to 19.This is because the chairman recently signaled monetary easing to prevent a further economic slowdown ...

Park Hyong-ki | 2019-06-17 16:58

Korea's overseas direct investment hits record high

Korean overseas direct investment reached a record $14.1 billion in the first quarter of this year, up 45 percent from a year earlier, according to the Ministry of Economy and Finance, Friday. This also marks the second-highest increase following the first quarter of 2017 when the number rose to 63 percent, it added. The record was led by local manufacturers making deals and ...

Park Hyong-ki | 2019-06-14 15:58

FSC changes corporate auditing system

The Financial Service Commission (FSC) will change the way it audits the books of listed companies, the regulator said Thursday. In a meeting with academics, accounting firms and corporate executives at the Korea Exchange, FSC Chairman Choi Jong-ku said the regulator will not play a role in post-managing and disciplining companies that recorded wrong numbers.

Park Hyong-ki | 2019-06-13 17:17

Unemployment hits record high in May

The number of people who have lost or can't find jobs reached 1.15 million in May, according to Statistics Korea, Wednesday. The monthly figure was the lowest for May since 2000. Also, the number of unemployed people has remained above 1 million since January this year.

Park Hyong-ki | 2019-06-12 17:02

US Citadel Securities faces probe for alleged market disturbance

American hedge fund powerhouse Citadel may face punishment from financial authorities for allegedly disturbing the stock market, the Korea Exchange (KRX) said Tuesday.

Jhoo Dong-chan | 2019-06-12 16:40

Financial firms creating Youtube channels to attract youngsters

An eight-week new recruit faced off with a 22-year veteran banker in counting bills on the KB Kookmin Bank Youtube channel. The 22-year-old veteran beat the recruit by a hair, but his count was incorrect.

Jhoo Dong-chan | 2019-06-11 16:28

IPO market gains attention with firms' successful entry

The nation's initial public offering (IPO) market is gaining attention thanks to the uptrend in the share prices of small- and medium-sized firms recently listed on the secondary Kosdaq.

Jhoo Dong-chan | 2019-06-11 00:26

Debate heats up over retirement age extension

Debate on whether to extend the country's legal retirement age is heating up amid a rapidly aging population. This comes as Finance Minister Hong Nam-ki said policymakers have formed a taskforce to consider the extension. Given the sensitivity of the issue, which could ignite a conflict between the young and old, Hong added the public has to reach a consensus before the gover...

Park Hyong-ki | 2019-06-09 16:13

Investors rush to gold amid market uncertainties

Gold has reached its highest price in three years as more investors purchase the precious metal amid growing economic uncertainties, triggered by the escalating trade dispute between the U.S. and China, according to the Korea Exchange (KRX) Friday.

Jhoo Dong-chan | 2019-06-07 16:23

Current account swings into red in 7 years

The country had a current account deficit in April for the first time in seven years due to falling exports and an increase in foreign dividend payments, according to the Bank of Korea (BOK), Wednesday. The deficit of $660 million ended 83 straight months of current account surpluses. The last time the country had a deficit was in April 2012 amid a crisis in some European cou...

Park Hyong-ki | 2019-06-05 17:00

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