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Tue, November 29, 2022 | 16:29

Corporate direct financing dives 49% in Oct. amid rate hikes

Corporate direct financing dives 49% in Oct. amid rate hikes

Corporate direct financing in Korea fell 49 percent in October from the previous month as rate hikes weighed on corporate activities, data showed Thursday.

2022-11-24 10:01

Household debt reaches new heights on surge in loans from non-banking financial firms

Household debt reaches new heights on surge in loans from non-banking financial firms

People are borrowing more money from private lenders and non-banking financial firms, which in turn has led the total amount of household debt in Korea to surge to a record 1,870.6 trillion won ($1.38 trillion) in the third quarter, according to the Bank of Korea (BOK). According to the BOK's preliminary data, Tuesday, outstanding household debt, including the amount of credi...

2022-11-23 15:40

Procurement market offers launch pad for businesses to leap forward as global players

Procurement market offers launch pad for businesses to leap forward as global players

Procurement markets overseas offer huge opportunities for businesses to grow into global players, but many of them have been hesitant due to high entry barriers. The Public Procurement Service (PPS) has been accompanying businesses to successfully enter the blue ocean market, and help their exports rise to record highs in the first quarter.

2022-11-23 14:32

OECD slashes Korea's growth forecast to 1.8% for 2023

OECD slashes Korea's growth forecast to 1.8% for 2023

The Organization for Economic Cooperation and Development (OECD) lowered its growth forecast for Korea next year to 1.8 percent, Wednesday, down from its previous outlooks of 2.2 percent in September and 2.5 percent in June. The 2023 outlook for Asia's fourth-largest economy contrasts with a global economic growth forecast of 2.2 percent. The Paris-headquartered OECD assessed...

2022-11-22 20:22

Financial authorities pressure banks over deposit interest rates amid liquidity shortage

Financial authorities pressure banks over deposit interest rates amid liquidity shortage

Commercial banks are under pressure to lower deposit interest rates to prevent excess cash inflow due to steep rate hikes delivered by the Bank of Korea (BOK), which in turn, squeeze non-banking financial firms with liquidity shortages. The situation faced by the lenders is in stark contrast to what they have faced in past months when they were pressed to raise deposit rates ...

2022-11-22 16:36

Inflation expectations down in Nov. ahead of BOK's rate decision

Inflation expectations down in Nov. ahead of BOK's rate decision

Korea's inflation expectations edged down on-month in November ahead of the Bank of Korea (BOK)'s widely-anticipated rate increase this week aimed at bringing price growth under control, a central bank survey showed Tuesday.

2022-11-22 09:51

Refinancing burden spreads to more non-bank financial firms

Refinancing burden spreads to more non-bank financial firms

Insurers and capital funding companies that are specialized in asset-based leasing and car loans are struggling with liquidity shortages, as steep hikes in the key interest rate put the pressure for refinancing on non-bank financial firms. The banks have been offering high deposit interest rates in past months, prompting investors to pull their money out from the debt and sho...

2022-11-21 16:49

Exports down 16.7% during first 20 days of Nov.

Exports down 16.7% during first 20 days of Nov.

Korea's exports fell 16.7 percent on-year in the first 20 days of November due mainly to weak outbound shipments of chips and mobile devices, data showed Monday.

2022-11-21 14:11

Foreign currency deposits up in Oct. on rise in dollar savings

Foreign currency deposits up in Oct. on rise in dollar savings

Foreign currency deposits at banks in South Korea expanded in October as dollar savings spiked amid the greenback's ascent in value, central bank data showed Monday.

2022-11-21 13:31

Nat'l consumer inflation up 5.9% in Q3

Nat'l consumer inflation up 5.9% in Q3

Korea's nationwide consumer prices rose 5.9 percent on-year in the third quarter of the year due to higher energy and dining-out costs, data showed Monday.

2022-11-21 13:30

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