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Finance

Policies

Wed, September 18, 2019 | 05:59

Woori, Hana face lawsuit over DLF fiasco

A group of investors are planning to file a lawsuit against Woori Bank and KEB Hanna Bank for their “irresponsible marketing” of high-risk derivative products that are expected to see them suffer billions of won in losses, a team organizing the suit said Tuesday.

2019-09-17 17:52

FSC chief focuses on 'overcoming Japan'

ANSEONG, Gyeonggi Province - Financial Services Commission (FSC) Chairman Eun Sung-soo has vowed to provide all possible support for local firms to deal with the fallout from Japan's export curbs. His pledge came Tuesday during his visit to a local equipment manufacturer. This was his first official visit to a private enterprise since he took office Sept. 9.

2019-09-17 17:18

Korea considers releasing oil reserves in case of supply disruption

South Korea will consider releasing its strategic oil reserves in case supply is disrupted following drone strikes on Saudi Arabia's crude processing facilities, a senior official said Tuesday. The combined oil reserves held by the South Korean government and local refiners came to 200 million barrels as of 2018. "The government will swiftly push for measures to stabilize sup...

2019-09-17 09:34

Soaring oil prices put additional burden on economy

Going paperless

Financial Services Commission Chairman Eun Sung-soo, right, and Justice Minister Cho Kuk put securities paper certificates in shredders during a ceremony for the implementation of the electronic securities system at Conrad Seoul, Monday. Under the system, the issuance, circulation and corporate actions associated with securities will be processed electronically, meaning that ...

2019-09-16 17:52

Job growth hits 29-month high in August

The number of workers in Korea increased by over 450,000 in August, the sharpest jump in two years and five months, government data showed Wednesday.

2019-09-16 09:02

Electronic securities system goes into effect Monday

The electronic securities system will go into effect Monday, with expectations that it will make the capital market more transparent and efficient, as well as save costs, the Financial Services Commission (FSC) said Sunday.

2019-09-15 17:04

South Korea to remove Japan from whitelist this week

Korea will remove Japan from its “whitelist” of preferred trading partners sometime this week, the Ministry of Trade, Industry and Energy said Sunday.

2019-09-15 16:41

BOK braces for worst-case scenario

The Bank of Korea (BOK) has begun to prepare for any contingent emergencies with Governor Lee Ju-yeol recently ordering several departments to prepare for a worst-case scenario amid growing uncertainties in the global and domestic economies, the central bank said Sunday. The BOK chief also convened a meeting of 15 central bank executives on the last day of the Chuseok holiday...

2019-09-15 15:58

Visit to small exporter during Chuseok

Minister of Economy and Finance Hong Nam-ki, fourth from left, talks with Aju Cosmetic workers at its headquarters in Incheon, Thursday. The minister visited the small-sized cosmetics product exporter to talk with its employees who worked during the Chuseok holiday. / Courtesy of Ministry of Economy and Finance

2019-09-15 15:56

To boost economy

Deputy Prime Minister Hong Nam-ki, second from right, speaks during a meeting attended by economy-related ministries at the Government Complex in Gwanghwamun, Seoul, Sept. 10. The ministers discussed ways to help protect export firms against external uncertainties, innovate contents businesses and grant more people broader investment opportunities for real estate investment t...

2019-09-11 16:28

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