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The Korea Times

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Asia

The Korea Times

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Markets

Tue, January 31, 2023 | 00:19

Banks in race to cut loan rates

Banks in race to cut loan rates

Banks are in a rush to cut their interest rates on loans in a bid to avert public perception of them being “greedy” after the government introduced a policy that informs customers regarding each commercial lender's loan-to-deposit interest rate gap. After the policy took effect on Aug. 22, most banks are now moving to cut interest rates on their loan products.

Lee Min-hyung | 2022-08-26 15:32

Korea to take steps to stabilize FX market to curb market volatility: official

Korea to take steps to stabilize FX market to curb market volatility: official

Korea plans to take measures to stabilize the foreign exchange market in a timely manner if market volatility increases, driven by herd behavior or speculative bets in the currency market, a senior government official said Friday.

2022-08-26 10:23

Insurance sales agencies protest big tech firm's expansion into industry

Insurance sales agencies protest big tech firm's expansion into industry

Traditional insurers and insurance sales agencies are stepping up their protest against a recent decision by the financial regulator enabling big tech firms such as Naver, Kakao and Toss to start insurance comparison services via their online platforms. Under the decision by the Financial Services Commission (FSC), the online platform operators will be able to launch new serv...

Lee Min-hyung | 2022-08-24 16:45

Ramyeon manufacturers' shares soar over price hike announcement

Ramyeon manufacturers' shares soar over price hike announcement

Nongshim's share price jumped on Wednesday, as the country's largest ramyeon manufacturer announced earlier in the day that it will increase the prices of most ramyeon and snack products from next month. The food company's stock price rose to 311,500 won ($232) at Tuesday's closing, a 6.13-percent increase from the previous trading session. Both foreign investors and institut...

Anna J. Park | 2022-08-24 16:43

Global consumers consider downsizing digital streaming services: EY Korea

Global consumers consider downsizing digital streaming services: EY Korea

The outbreak of the pandemic sparked an increase in the reliance of online activities such as subscriptions to music or video streaming services. Now, amid the current global geopolitical uncertainties and unclear economic outlook, a significant percentage of households around the world are planning to reduce their digital streaming services, as they put more emphasis on valu...

Anna J. Park | 2022-08-24 16:17

Seoul shares open lower on worries over Fed's tightening; won further down

Seoul shares open lower on worries over Fed's tightening; won further down

South Korea's stock market opened lower Tuesday as foreigners and institutions unloaded shares following overnight losses amid concerns over the Federal Reserve's monetary tightening. The Korean won continued to lose ground against the U.S. dollar.

2022-08-23 12:14

Korea warns against speculative bets amid won's sharp fall

Korea warns against speculative bets amid won's sharp fall

Korea's foreign exchange authorities on Tuesday issued a verbal warning that they will closely monitor whether there are speculative bets in the currency market amid the local currency's sharp weakness.

2022-08-23 11:18

Korean won sinks to over 13-year low against US dollar

Korean won sinks to over 13-year low against US dollar

Korean won sinks to over 13-year low against US dollar

The Korean won weakened to the lowest level in over 13 years against the U.S. dollar due to a revitalized preference for safe assets after the U.S. Federal Reserve reiterated its hawkish gestures. The won-dollar exchange rate hit a new high of 1,340.1 won per dollar at one time on Monday afternoon before closing at 1,339.8 won, up 13.9 won from the previous trading day. This ...

Lee Min-hyung | 2022-08-22 16:46

Korea warns against speculative bets amid won's sharp fall

Won sinks to 1,330 level per dollar for 1st time in over 13 years

Won sinks to 1,330 level per dollar for 1st time in over 13 years

The South Korean currency on Monday fell to the 1,330 won level against the U.S. dollar for the first time in more than 13 years amid prospects that the Federal Reserve will maintain its aggressive rate hike policy.

2022-08-22 10:50

Banks start notifying customers of loan-to-deposit ratios

Banks start notifying customers of loan-to-deposit ratios

Banks will begin notifying customers of their loan-to-deposit interest rate gap from Monday, making it easier for borrowers to search commercial lenders offering better interest conditions. Customers can visit the website of the Korea Federation of Banks to compare the ratio from each lender.

Lee Min-hyung | 2022-08-21 16:43

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1	ANALYSISPandemic awakens demand for data-driven automation

2	Koreans reluctant to unmask on first day of eased indoor mask rule

3	Busan seeks to take lead in expo race after BIE's April visit

4	Over 76% of South Koreans support development of nuclear weapons

5	Retailers seek to bolster beauty product sales as lifting of mask mandate approaches

6	Biohealth geared for growth

7	Korea-US defense talks likely to bring up extended deterrence

8	NK slams NATO chief's Seoul visit as 'prelude to war'

9	Stock-leveraged investments rise again amid bullish KOSPI

10	Seoul mayor accuses liberals of leading nation in wrong direction

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