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Tue, February 27, 2024 | 08:31
BOK, gov't at odds on recapitalization fund
The Bank of Korea (BOK) and the government remain divided over details on the recapitalization of state-run banks that need fresh capital in order to reschedule debts for ailing shipbuilders and shippers.
Banks need to set apart W8 tril. of provisions for loan losses
Banks need to set aside almost 8 trillion won in provisions for possible loan losses from troubled shipbuilders and shippers, raising concerns on the financial soundness of lenders, a local credit ratings agency said Monday.
Excessive money printing takes toll
Smart people learn from history not to repeat their ancestors’ errors. But, Kim Young-gean, chairman of the Bank of Korea (BOK) labor union, thinks that the government is not brilliant enough to learn lessons from history on how dangerous it is to excessively print money.
Renault, GM expected to suffer from termination of consumption tax cut
Renault Samsung Motors and GM Korea are expected to suffer the most from the termination of a consumption tax cut in the second half of the year as the two have relatively simple vehicle line-ups, analysts said Friday.
POSCO most popular stock among foreign investors
POSCO was the top pick among foreign investors in the past month, after the steelmaker’s impressive performance in the first quarter improved sentiment, market data showed Friday.
Regulator to recapitalize Eximbank by giving stakes in state-run companies
The financial regulator said Thursday that it will recapitalize the Export-Import Bank of Korea (Eximbank) by giving the lender stakes in state-run companies because of the bank’s capital losses through heavy exposure to troubled shipbuilders.
Hannam Village sold to Daishin Securities at $540 mil.
Hannam Village in central Seoul was sold to Daishin Securities for 624.2 billion won ($540.2 million) in an auction, closing its role as a family housing complex for U.S. servicemen, the state-run land and housing corporation said Thursday.
Smartphone key in uncovering former Hanjin Shipping chief's problematic stock trading
The prosecutors’ office is looking into the smartphone of former Hanjin Shipping Chairwoman Choi Eun-yeong who is suspected of selling her stake in the debt-ridden shipper before it filed for bank receivership using inside information, sources said Wednesday.
Eximbank signs $15 bil. financial package with Iran
The Export-Import Bank of Korea (Korea Eximbank) said Tuesday that it signed a financial package worth $15 billion with the Iranian central bank and government, paving the way for local companies to enter the market there.
NH Financial chairman vows global expansion
NongHyup Financial Group Chairman Kim Yong-hwan said Tuesday that the group will reach Asian markets by cooperating with regional players, seeking to find new revenue sources outside the country.
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