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Reporter : Yi Whan-woo
Sat, December 9, 2023 | 18:02
State Street's suspension of Korean stock dealings feared to prompt exodus of foreign capital
State Street Bank and Trust Company (SSBT), one of the world’s largest custodian banks, will suspend lending stocks traded in Korea, fueling speculation that the suspension can trigger a further exodus of foreign capital from Seoul following its ban on short selling.
Korea launches pan-government scheme to curb inflation
The government put vice ministers - of all ministries - in charge of monitoring the prices of goods that their respective ministries administer concerning supply and demand, in its full-pledged efforts to temper inflation.
'Politically-motivated' ban on short selling darkens foreign investment prospects
A sudden ban on short-selling in Korea is fueling dispute that such a measure, widely perceived as politically motivated, will hinder the country’s effort to attract foreign investors in return for wooing Korean retail investors ahead of the general elections in 2024.
Korean stocks surge over 5% after gov't reinstates short-selling ban
Korean stocks closed up, Monday, at the highest rate in almost four years on the back of a complete ban on short-selling that was reinstated to crack down on illegal market practices by global investment banks and protect retail investors.
Food price growth expected to stay above 5% for 3rd year in row
Prices of major grocery items have risen more than 5 percent for the first 10 months of this year amid a surge in global prices of oil and crops, and this trend is likely to continue throughout the remainder of 2023, according to data, Sunday.
Hana offers $76.2 mil. in financial aid for small businesses
Hana Bank has introduced a financial aid package worth 100 billion won ($76.2 million) to lessen the financial burden of small business owners struggling with costly borrowing rates and an economic slump, the bank said Sunday.
Banks on edge amid mounting criticism from President Yoon
Leading commercial banks are being further pushed into a corner due to their “windfall profits,” as President Yoon Suk Yeol is ratcheting up criticism against the lenders in an antagonistic, and even insulting manner.
Exports rebound for 1st time in 13 months
Korea’s exports increased for the first time in 13 months in October, raising optimism that the export-reliant country could reach the annual economic growth target of 1.4 percent.
KCS chief bolsters cooperation with Africa
Korea Customs Service (KCS) Commissioner Ko Kwang-ho is stepping up efforts to promote Korea’s indigenous electronic customs clearance system, UNI-PASS, after taking office in July.
Chip industry's exports on track for recovery
Korea's chip industry is on track for a recovery in exports, data showed, Tuesday, fueling optimism that it could help the country’s entire manufacturing industry gain momentum given that chips have been the top sales item abroad.
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