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Fri, September 29, 2023 | 23:59
Park Eun-bin named as KB Financial's new model
Park Eun-bin, a Korean actress who starred in the popular ENA series “Extraordinary Attorney Woo” last year, has been named the new model for KB Financial Group, the company announced. The country's major banking group said it signed the agreement with Park, 30, as her spirit of professionalism and sincerity is clearly evident in her acting career, and is in line with the cor...
Companies | 2023-03-06 08:24
State-run pension operator sells SM Entertainment shares to reap capital gains
The National Pension Service (NPS) announced on Friday that it unloaded more than half of its stake in K-pop powerhouse SM Entertainment amid an escalating ownership feud over the company.
Markets | 2023-03-03 16:32
Gov't campaign against oligopoly raises hope for online, regional banks
The government's campaign to break up the banking industry's oligopoly is fueling optimism among digital and regional lenders that regulatory barriers will be lowered for them to expand their presence against larger competitors.
Economy | 2023-03-03 16:08
Statistics Korea chief named UN stats body's vice chair
Han Hoon, the chief of the Korean government's statistics agency, has been appointed as the second-highest-ranking official of the United Nations' top decision-making body on international statistics activities. Statistics Korea announced on Thursday that the Statistics Korea commissioner has been elected as vice chair of the U.N. Statistical Commission during its 54th sessio...
Economy | 2023-03-02 15:34
Plunging exports add to concerns over possible economic contraction in Q1
Korea's exports declined for the fifth straight month in February, raising concerns that the nation's economy may contract again in the first quarter of this year after shrinking in the final three months of 2022. The data released by the Ministry of Trade, Industry and Energy, Wednesday, showed outbound shipments slid 7.5 percent $50.1 billion last month from a year earlier.
Economy | 2023-03-01 16:58
Preference for sons over daughters no longer case in Korea
The centuries-old preference for sons over daughters has been diminishing in Korea amid growing awareness of gender equality as well as the rapid population decline witnessed in recent years. The latest data on the sex ratio at births shows such preferences are apparently no longer the case here. Released by Statistics Korea, Wednesday, the data showed that 104.7 baby boys we...
Economy | 2023-03-01 16:58
Korea pins high hopes on China's reopening
China's reopening is fueling optimism in Seoul that sluggish Korean exports will bounce back and possibly offer a breakthrough for the country's trade-reliant economy that is struggling with slowed growth. During a Cabinet meeting in Seoul, Tuesday, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho urged all related ministries to “pay special attention t...
Economy | 2023-02-28 16:30
Woori signs deal to acquire majority stake in Daol Investment
Woori Financial Group announced on Monday that it acquired a majority stake in Daol Investment, a venture capital company it has sought to take over on its path to diversifying its non-banking business portfolio. The banking group said it signed a deal with Daol Financial Group to purchase a 52 percent stake in Daol Investment, which is owned by brokerage house Daol Investmen...
Companies | 2023-02-27 16:38
1 in 5 young Koreans suffers from snowballing debt
One out of every four to five Koreans owes debts that are three times as much as their annual income due to costly borrowing rates and surging housing prices, a report showed Monday. Released by Korea Institute for Health and Social Affairs, the report said that the rate for debt-ridden young Koreans was up 2.6 times from 10 years earlier, when relevant data was compiled whil...
Economy | 2023-02-27 16:38
Banks under gov't pressure to replace outside directors
The country's five major banking groups - Shinhan, KB, Hana, Woori and NongHyup - are drawing attention over whether they will replace their outside directors whose terms will expire next month amid the government's push for an overhaul of the groups' governance structures. Thirty out of 40 outside directors at the five companies will see their tenures end. And while they can...
Companies | 2023-02-26 16:13
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