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Reporter : Yi Whan-woo
Sun, September 24, 2023 | 21:52
Government's overdrawn account adds to concerns over tax shortfall
The government has borrowed more than 100 trillion won ($74.5 billion) from the central bank so far this year, adding to concerns over shortfalls in tax revenue.
Foreign homeowners asked to designate caretakers
Foreign nationals who buy a home in Korea will be asked to officially designate a caretaker for the house and report to the Seoul Metropolitan Government if they do not plan to live here, the Ministry of Land, Infrastructure and Transport announced on Tuesday. It said the measure is part of efforts to control speculative real estate investments by foreign nationals. Real esta...
Jobless, indebted twentysomethings further darken Korea's economic outlook
More Koreans in their 20s are struggling with debt and are relying on the government to write off their arrears, while it is getting tougher to land jobs. Such challenges faced by young Koreans are adding to concerns of an economic slowdown, as the demographic group is a valuable component of the nation's workforce in the midst of a rapidly growing aged population, according ...
EcoPro shares fall on founder's imprisonment
Shares of EcoPro, Korea's leading producer of secondary battery materials, and its subsidiary EcoPro BM, retreated on the tech-heavy Kosdaq, Friday, after the Supreme Court confirmed a prison term for their former chairman and founder Lee Dong-chae on the same day.
BOK's months-long rate freeze tested by weakening won
The weakening of the Korean won against the U.S. dollar this month has raised questions over whether the Bank of Korea (BOK) should consider resuming rate hikes after keeping the base rate steady since January.
Korea to build homegrown AI chip-powered data centers to foster growth engines
Korea will speed up efforts to build data centers powered by locally-developed artificial intelligence (AI) chips on its path to nurture the next growth engines.
Citibank Korea CEO becomes highest-paid bank CEO
Citibank Korea CEO Yoo Myung-soon was the highest-paid leader in the Korean banking industry in the first half of the year, data showed, Tuesday.
Won sees steep depreciation due to China's deflation, unfrozen Iran fund
The Korean currency weakened nearly 60 won against the U.S. dollar this month alone and dipped to the 1,300 won level, after managing to stay in the 1,200 won level even after the Korea-U.S. interest rate gap widened to a record high of 2 percentage points in late July.
Return of Chinese tourists fuels optimism for travel trade balance
The resumption of Chinese tour groups to Korea announced last Thursday is fueling optimism for the nation's worsening travel trade balance which suffered its largest half-yearly deficit in five years.
Hana joins hands with financial watchdog to nurture young digital experts
Hana Financial Group and the Financial Supervisory Service (FSS) are co-hosting the second edition of a project aiming to foster young workers skilled in digital technologies after successfully completing the first edition last month, the banking group said Sunday. Also joined by Google Korea, Amazon Web Services Korea, Microsoft Korea and SK Telecom, the Hana Digital Power O...
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