search close
Reporter : Yi Whan-woo
Fri, December 8, 2023 | 06:04
Foreign investors, workers to benefit from eased regulations in 2023
Korea will ease regulations on cash incentives next year for foreign businesses operating here to encourage investments in proprietary and other cutting-edge technologies on the country's path to enhancing supply chain security and nurturing new growth engines, the government said Wednesday. Korea will also include foreign residents in its new census studies, starting in Janu...
Shinhan Bank's second-in-command nominated to lead lender
Shinhan Financial Group announced on Tuesday it nominated Han Yong-gu, the deputy president of Shinhan Bank, as the lender's new CEO in the group's major step in leadership changes at its key subsidiaries. Han's nomination comes after Shinhan Financial Group nominated Shinhan Bank CEO Jin Ok-dong as its chairman on Dec. 8.
More than 1 in 5 naturalized Koreans experienced discrimination: survey
More than one out of five naturalized Koreans have experienced discrimination here due to where they originally came from, their lack of proficiency in the Korean language, how they look, for not being rich and other reasons, according to a report, Tuesday. Released by Statistics Korea, the report comes amid an increase in the number of naturalized citizens as well as their h...
Korea to aggressively overhaul trade, investment regulations in 2023
Korea will aggressively push ahead with incentives and deregulation to revitalize exports and investments in 2023 in a bid to overcome growing economic risks, the government and the ruling People Power Party (PPP) announced jointly on Monday. In a briefing following a policy consultation meeting on Korea's 2023 economic policy, they also announced their focus on lowering pric...
Shinhan expands AI use at ATMs to protect customers from financial crimes
Shinhan Bank is expanding the use of artificial intelligence (AI) at its automated teller machines to protect customers and their assets from voice phishing and other financial crimes, the lender said on Sunday. It said all of its branches are setting up ATMs equipped with an AI program that can detect any abnormal behaviors from users, such as covering their faces with hats ...
Fears grow over hard landing for housing market
Korea's housing market is feared to be heading for a hard landing as multiple indicators show a steep downturn approaching. Home prices have continued on a downward spiral, while transactions keep falling and the number of unsold new apartments is rising. What is more concerning is that home prices in the nation have dropped more sharply than most other countries in the Asia-...
Widening interest rate gap with US raises questions about BOK's rate goal
The interest rate gap between Korea and the United States has widened to a more-than-22-year high, raising questions about whether the Bank of Korea's (BOK) policy rate will be able to settle at its target of 3.5 percent in 2023.The borrowing rate of the U.S. was raised to the range of 4.25 percent to 4.5 percent following the Federal Reserve's 50-basis-point hike, Wednesday,...
Hana Financial Group nominates new bank chief
Hana Financial Group has nominated Lee Seung-yeul, the chief of Hana Life Insurance, as the new CEO of Hana Bank in the first reshuffle of heads of the group's key affiliates after its Chairman Ham Young-joo took office early this year, the company said Wednesday.
Banks anticipated to shift away from interest-oriented profit strategy next year
The series of steep rate hikes throughout 2022 have been causing people to take out fewer loans, prompting commercial banks to search for alternative ways to make profits in 2023 after relying heavily on net interest incomes. The total amount of household debt, which stems mainly from housing loans, dropped to 1,058.8 trillion won ($776 billion) as of October from 1,060.7 tri...
Yoon's ex-campaign chair appointed to lead NongHyup Financial
Lee Suk-joon, President Yoon Suk-yeol's former campaign chair for the 2022 presidential election, has been appointed to lead NongHyup Financial Group, the company announced on Monday. The company said that Lee's appointment was confirmed by the shareholders and board of directors, Monday, after he was the only candidate to be recommended for the position by its executive cand...
Copyright