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Reporter : Yi Whan-woo
Wed, March 29, 2023 | 15:25
Eximbank donates cars to charity organizations for multicultural families
Export-Import Bank of Korea (Eximbank) donated cars to charity organizations dedicated to supporting multicultural families in Korea, the state-run bank announced on Thursday. The lender said it donated a total of 12 cars, one each to charity organizations for migrant wives, their children and other members of multicultural families across the country.
Proxy adviser ISS opposes KB union-backed outside director
The Institutional Shareholder Services (ISS), the world's largest proxy adviser, has recommended shareholders of KB Financial Group vote against the nomination of an outside director endorsed by the group's labor union, according to industry sources, Thursday.
Woori Bank CEO abruptly resigns
Woori Bank CEO Lee Won-duk tendered his resignation, Tuesday, in the lead-up to the official appointment of new Woori Financial Group Chairman Yim Jong-ryong who competed with Lee for the nomination last month. Lee's decision came on the same day the banking group carried out a reshuffle of the CEOs of eight affiliates whose terms expired.
Korea's per capita income falls sharply on won's depreciation
Korea's gross national income (GNI) per capita dropped nearly 8 percent last year, mainly due to a sharp depreciation of the Korean won against U.S. dollar, the Bank of Korea (BOK) said Tuesday. GNI, which measures a country's wealth, is the amount of money earned by its people and businesses at home and abroad. It is comparable to gross domestic product (GDP), another gauge ...
Korea posts record trade surplus for cultural products
Korea posted a record trade surplus for cultural products and services in 2022, amid the growing popularity of K-pop plus TV dramas and movies on streaming services. According to the Bank of Korea (BOK), Monday, the balance of payments for sales of cultural products amounted to $1.7 billion in 2022, up 47.9 percent from a year earlier.
Inflation cools to 4% range for 1st time in 10 months
Consumer prices in Korea eased to the 4-percent level for the first time in 10 months in February, raising hopes that inflation will cool down further to the government's 2023 target of the mid-3 percent range. But Korea continues to face obstacles in its efforts to curb inflation, as the growth of utility costs reached an all-time high of 28.4 percent, while core inflation _...
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...
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.
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.
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...
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