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Sat, December 15, 2018 | 01:39

Economy > Finance >

Miserable, depressed and suffering

Unemployment and consumer prices are rising toward levels that are making a lot more people feel miserable. An economic index measuring people's pain and misery backs this claim, according to Rep. Choo Kyung-ho of the opposition Liberty Korea Party. The country's misery index stood at 5.5 percent in October 2018, the highest in seven years, as the unemployment rate reached 3....

Finance | 2018-12-14 17:42

ABL Life to set up general agency

ABL Life Insurance will set up a general agency as a subsidiary, in a move to diversify profit sources, the company said Friday.

Finance | 2018-12-14 16:58

Gov't to back banks' ASEAN expansion

The government will establish support centers in Southeast Asian countries such as Indonesia and Thailand to help local financial companies enter those markets, according to Kim Hyun-chul, an economic adviser to President Moon Jae-in, Friday. In a meeting with chief executives of banks in Seoul, Kim said it will do so as requested by the companies, which find it hard to penet...

Finance | 2018-12-14 15:51

Korean banks' foreign-currency deposits soar in November

Foreign currency deposits at South Korean banks rose at the fastest pace in 12 months in November as people increased holdings of the weakening U.S. dollar, central bank data showed Friday. The balance of foreign currency deposits held by local lenders reached US$75.05 billion at the end of last month, up $6.94 billion from a month earlier, according to the data by the Bank o...

Finance | 2018-12-14 14:24

KDIC CEO vows to strengthened risk management

Korea Deposit Insurance Corp. (KDIC) CEO Wi Seong-bak vowed, Thursday, to strengthen preventative measures against financial firms' credit default in Korea by upgrading its risk assessment and monitoring system. To that end, KDIC will seek to institute risk reduction program (RRP), a comprehensive recovery measure against possible credit risk of major financial firms, defined...

Finance | 2018-12-13 22:34

Tax agency inspects KEF over embezzlement, breach of trust

The tax authorities searched Korea Employers Federation (KEF), Thursday, over allegation that a former senior executive engaged in embezzlement and breach of trust between 2009 and 2017.

Finance | 2018-12-13 22:33

Making $30k, but unhappy

A 34-year-old woman, who wants to be identified only by her surname, Jeong, works in the fast-paced tech industry. It's been three years since she first started her job earning more than $30,000 a year. But she said the higher income doesn't mean a better lifestyle.“It's the same - trying to make ends meet, pay monthly bills, keep moving with a busy schedule. I should feel gl...

Finance | 2018-12-13 10:43

Brokerages, insurers rush to axe jobs

A growing number of financial firms in Korea are seeking to reduce their workforce due to deteriorating bottom lines compounded by worsening business environments and recently tightened government regulation.

Finance | 2018-12-12 17:50

Regulator inspects Celltrion for book rigging

Celltrion Healthcare, a marketing company that holds an exclusive sales right on products made by its bio company affiliate Celltrion, is under investigation over suspected accounting fraud, sparking concerns that bio heavyweights listed on the local bourse will be subject to greater investigative scrutiny.

Finance | 2018-12-12 17:16

Mirae Asset's India assets surpass W4 tril.

Mirae Asset Global Investments India's assets under its management have surpassed 4 trillion won in value as of the end of November 2018, according to Mirae Asset in Seoul, Wednesday. Thanks to its two flagship funds investing in stocks and bonds in India's capital market, the total value of its assets managed on behalf of its regional investors stood at 4.4 trillion won, or ...

Finance | 2018-12-12 17:02

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