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The Korea Times

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The Korea Times

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Wed, March 29, 2023 | 16:00

Life insurance association calls for more private pension tax benefits

Life insurance association calls for more private pension tax benefits

Korea's tax authority should offer more incentives for private pensions amid a rising poverty ratio amongst elderly people and a rapidly depleting national pension here, Korea Life Insurance Association (KLIA) Chairman Chung Hee-soo said in a press conference, Monday.

Lee Min-hyung | 2023-02-13 16:46

KCGI to sell Osstem stake to Unison-MBK consortium

KCGI to sell Osstem stake to Unison-MBK consortium

The Korea Corporate Governance Improvement (KCGI) has decided to sell its 6.92 percent stake in Osstem Implant during a tender offer launched late last month by a consortium made up of Unison Capital Korea and MBK Partners, according to the activist fund. The tender offer is scheduled to last through Feb. 24.

Anna J. Park | 2023-02-12 14:47

Banks rush to lower interest rates for savings products

Banks rush to lower interest rates for savings products

Commercial banks here have come under criticism for cutting their savings interest rates on a larger scale than those from loan products. According to data from Korea's top five banks - KB, Shinhan, Hana, Woori and NongHyup - the average interest rate for their savings product with a one-year maturity was within a band from 3.36 to 3.6 percent as of Wednesday. This is a drop ...

Lee Min-hyung | 2023-02-09 16:42

Mid-tier brokerages report earnings shock

Mid-tier brokerages report earnings shock

Mid-tier securities firms reported a more drastic fall in earnings compared with their bigger counterparts in 2022, in the aftermath of slumping stock sentiment and a slowdown in the real estate market, which was prompted by sharp interest rate hikes. Hanwha Investment & Securities recorded a deficit last year with a net loss of 47.6 billion won ($37.72 million). This is a dr...

Lee Min-hyung | 2023-02-09 16:15

Risks of real estate project financing loom large on economy

Risks of real estate project financing loom large on economy

Risks stemming from real estate project financing (PF) is looming large as one of key threat factors in the local financial sector this year. Securities companies particularly experience a high default rate of their loans to real estate PF, concerning market watchers that a negative chain reaction could result in a crisis for the market.

Anna J. Park | 2023-02-09 16:07

Stocks end higher after zig-zagging on Fed chair's comments

Stocks end higher after zig-zagging on Fed chair's comments

Wall Street is ticking higher Tuesday after the head of the Federal Reserve signaled last week's stunningly strong jobs report isn't likely to change where interest rates are heading on its own, as some investors had feared.

2023-02-08 11:39

Inflation starting to slow but long, 'bumpy' road ahead: Powell

Securities firms lower outlook on KOSPI's growth

Securities firms lower outlook on KOSPI's growth

Securities firms are on track to lower the outlook on the benchmark KOSPI, citing the possibility of Korean stocks entering a readjustment period after achieving a vigorous rally throughout January. They expected the local stock market to face widening volatility this month amid rekindling woes over global monetary tightening after the U.S. reported robust job recovery. Key e...

Lee Min-hyung | 2023-02-07 15:33

Korea to extend FX trading hours, allow offshore firms' participation

Korea to extend FX trading hours, allow offshore firms' participation

Korea plans to more than double its foreign-exchange trading hours and allow offshore firms to participate in the market in line with efforts to attract more investment from overseas, the financial authorities said Tuesday.

2023-02-07 12:13

Tech stocks boosted by Apple Pay's arrival

Tech stocks boosted by Apple Pay's arrival

Shares of electronic payment and wireless communication service operators surged Monday on growing hopes for the launch of Apple Pay in Korea. According to data from the Korea Exchange, KG Mobilians' share price soared by more than 20 percent soon after the opening of the stock market here. The company operates businesses on wired and wireless payment services.

Lee Min-hyung | 2023-02-06 16:56

Seoul stocks end lower amid Fed rate hike woes

Seoul stocks end lower amid Fed rate hike woes

Seoul shares ended lower Monday, as strong U.S. jobs data fueled fears of further rate hikes to tame inflation. The Korean won fell sharply to a monthly low against the U.S. dollar.

2023-02-06 16:48

Exchange rate on rollercoaster ride amid stronger US job recovery

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Top 10 Stories

1	Revised Japanese textbooks distort wartime forced labor, catching Korea off guard

2	Clock ticks for China's massive repatriation of N. Korean defectors

3	Gold price nears all-time high amid financial jitters

4	Ramsar wetland in Han River cleaned up for protected birdlife

5	BMW launches new XM

6	Civic groups in Gwangju await meeting with Chun Doo-hwan's grandson

7	CJ CheilJedang sees chicken as next big seller after frozen dumpling

8	North Korea unveils tactical nuclear warheads

9	2024 budget to focus on tackling low birthrate

10	Jeju seaways get busy with cruise ships, new trade route to Qingdao

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