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Sat, December 3, 2022 | 15:55
Shinhan Financial to support startups to gain foothold in Japan
Shinhan Financial Group will support promising startups to set a foothold in Japan as a part of its project to nurture innovative businesses, the company said Friday. It said it signed a memorandum of understanding (MOU) with government-affiliated Korea Institute of Startup & Entrepreneurship Development, Thursday, to provide joint support for startups that plan to open busin...
Household income grows at record pace amid soaring inflation
The nation's average household income rose at a record pace of 12.7 percent in the second quarter, but the real or inflation-adjusted consumption expenditures of households inched up a mere 0.4 percent to mark the slowest rate in 15 months, according to Statistics Korea, Thursday. The data suggests that the increase in income is not great relative to inflation, which surged t...
'Labor law should be changed in line with Fourth Industrial Revolution'
President Yoon Suk-yeol said Wednesday he will revamp Korea's labor law to cope with rapid changes in the era of the Fourth Industrial Revolution, stressing that such reforms are also critical in meeting global standards as well as a market-driven economy pursued by his government. “The course of the industry is rapidly changing while the labor law can be said to be stuck in ...
Standard Chartered Bank chief to visit Seoul in late August
Standard Chartered (SC) Bank Chief Executive Bill Winters will come to Korea later this month, making a return trip following his last visit in August 2020, according to the Seoul branch office of the London-headquartered multinational bank and financial sources, Wednesday. SC Bank Korea confirmed the chief executive's scheduled visit but did not give further details, includi...
Customs agency considers taxing intermediaries for brokered overseas purchases
The Korea Customs Service (KCS) is considering levying taxes on intermediaries that purchase goods from abroad on behalf of domestic customers and handle relevant customs clearance processes, according to sources familiar with the matter, Monday. The KCS' move comes as more customers in Korea want to buy goods via online malls overseas on the basis of price, quality, scarcity...
Independence fighter's descendants benefit from KB's housing renovation project
Despite their ancestors' sacrifice and dedication to the country, some descendants of Korean patriots live in poverty. Descendants of Tak Young-eui, the late independence fighter during the 1910-45 Japanese colonial period, were no exception. Their house in a rural town in Jeongseon County in Gangwon Province was old. Its roof and drain pipes as well as the interior needed re...
BC Card acquires Indonesian software company
BC Card has purchased an Indonesian software developer called Cranium Indonesia in its push to expand its presence in the Southeast Asian market. The company said Sunday that it has signed a deal to acquire a 67-percent stake in Cranium Indonesia, which offers IT services to Indonesian clients in both the public and private sectors.
Foreign ownership of Korean stocks falls to 13-year low
The ratio of Korean stocks owned by foreign investors dropped to a 13-year low of 30.51 percent, according to the Korea Exchange (KRX), Sunday, adding to the woes of the nation's stock market, which has performed poorly in Asia due to global economic risks this year. Some analysts say the benchmark KOSPI is forecast to rebound in August, but whether such a trend will last rem...
Inflation set to get worse following record rainfall
The record rainfall witnessed this week is feared to further accelerate inflation in the lead up to Chuseok as the unexpected downpour compounds unfavorable harvest conditions and disrupts the supply of agricultural goods. Around Chuseok, a traditional mid-autumn holiday in Korea, prices normally rise as many people go shopping to prepare festive dishes. It falls this year on...
Vacationers warned not to buy marijuana cookies in Thailand
Eating “samgyeopsal” with a glass of soju while traveling Thailand can bring the peculiar joy of having popular Korean barbeque in an exotic environment. Still, Korean tourists are advised to be cautious, as the aforementioned Korean meal may be served with marijuana, which is forbidden in Korea, according to the nation's customs agency
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