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Reporter : Anna J. Park
Tue, May 30, 2023 | 12:56
CFD rules tightened to boost trading transparency
The government has overhauled regulations on trading of contracts of differences (CFDs), a highly leveraged derivative product tied to the purchase and sale price differences of equities. The move is aimed at strengthening requirements for trading to increase transparency and protect investors in order to prevent major stock price manipulation scams based on derivative tradin...
Markets | 2023-05-29 16:39
Korea's household debt-to-GDP ratio highest among 34 major economies
Korea's household debt-to-gross domestic product (GDP) ratio was the highest among the world's 34 major economies in the first three months of this year, data showed Monday. This has raised concerns that banks and other financial firms may face higher default rates amid higher interest rates and deepening economic warning signs.
Economy | 2023-05-29 15:47
Hyundai Motor Group, LGES to inject $4.3 bil. to build EV plant in US.
Hyundai Motor Group and LG Energy Solution (LGES) have agreed to set up a battery cell manufacturing joint venture in the U.S., strengthening the two companies' partnership in the area of manufacturing batteries for electric vehicles (EVs). Hyundai Motor CEO Chang Jae-hoon and LGES CEO Kwon Young-soo signed a memorandum of understanding at the headquarters of LGES in Yeouido,...
Companies | 2023-05-26 16:18
Seoul Guarantee Insurance set to go public as first state-run firm in 13 years
In a move to officially kick-start its IPO process, Seoul Guarantee Insurance (SGI) aims to submit a preliminary evaluation application to the Korea Exchange (KRX) in June. The company announced earlier this week that its plan to submit the preliminary IPO application next month will not change, unless a major market shift occurs.
Companies | 2023-05-26 15:39
Woori Bank announces shortlist of CEO candidates
Woori Financial Group announced its shortlist of candidates for the head position of Woori Bank on Thursday afternoon. According to the financial group, the group's executive recommendation committee named two candidates ― Lee Seok-tae, the bank's executive vice chief heading domestic business, and Cho Byung-kyu, Woori Financial Capital's incumbent CEO.
Companies | 2023-05-25 16:26
Korea's per capita income soared by 400 times during past 60 yrs: Finance Minister
Korea's per capita income has grown over 400 times during the past 60 years, since the Korean government first launched its ambitious five-year development plan in 1962, Finance Minister Choo Kyung-ho said in a conference held to commemorate the country's economic development achievements.
Economy | 2023-05-25 16:19
Financial authorities to extend buying program of asset-backed commercial paper
The Financial Services Commission (FSC), the top financial regulator, is aiming to lower the risks of securities companies exposed to real estate project financing (PF), one of the biggest risks ...
Economy | 2023-05-24 16:56
[INTERVIEW] Korea urged to brace for employment and consumption challenges posed by sluggish exports
Out of the Korean economy's major macroeconomic risk factors - notably inflation, high interest rates, high foreign exchange rates and sluggish exports - Lee Yong-jae, president of the Korea Center for International Finance (KCIF), pointed out that the country's weakened exports could pose the biggest challenge..
Economy | 2023-05-24 08:38
[INTERVIEW] Foreign investors advised to consult eligibility for cash grant
International tax expert Oh Sang-bum advises foreign investors planning to make direct investments in Korea to closely review their eligibility for “cash grants” provided by the Korean government.
Companies | 2023-05-23 16:19
Rising delinquency rates add to concerns over banks' financial soundness
As more debtors are falling behind on their bank loan payments, concerns are growing over local banks' financial soundness. It is particularly worrisome that delinquency levels are projected to rise further in the latter half of this year, reflecting the effects of drastically ...
Markets | 2023-05-22 16:53
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