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Finance

Mon, August 8, 2022 | 01:52

FSS prepares stronger measures to prevent banking crimes

The Financial Supervisory Service (FSS) is currently drawing up measures that will toughen up banks' preventive efforts to detect early any signs of irregularities. The move is in response to a series of recent banking crimes, including several high-profile embezzlement cases involving bank employees. The FSS submitted documents to the Assembly's National Policy Committee say...

Anna J. Park | 2022-08-01 16:57

Hana Financial introduces new commercial starring Son Heung-min

Hana Financial Group has introduced a new commercial starring Premier League player Son Heung-min, the group said, Monday. A Tottenham Hotspur forward and also the first Asian footballer to win the Premier League's Gold Boot award, Son has been starring in Hana Financial Group's commercials since 2018

Yi Whan-woo | 2022-08-01 16:27

Economic quadruple whammy weighs on SMEs

A quadruple whammy of soaring inflation, the Korean won's plummeting value against the U.S. dollar, sharply rising interest rates and demands for wage hikes are dealing a blow to small and medium-sized enterprises (SMEs), which are more susceptible to the economic crisis than conglomerates. According to recent data compiled by the Korea Industrial Complex Corp., a total of 1,...

Yi Whan-woo | 2022-08-01 16:12

BOK sees small incremental rate increases as 'appropriate'

Korea's central bank said Monday it is "appropriate" to raise its key interest rate in small increments going forward as long as inflation and growth trends do not deviate much from the expected paths.

2022-08-01 11:08

Exports up 9.4% in July; trade deficit extended for 4th month

Korea suffered a trade deficit for the fourth consecutive month in July over high global energy prices, though its exports rose 9.4 percent on-year on solid demand for chips, data showed Monday.

2022-08-01 09:59

Bear-market rally expected in August

As July's stock markets ended with a slight recovery, following months of market corrections, analysts forecast the current bear-market rally to continue in August as well. The main benchmark KOSPI ended at 2,451.50 on July 29, the last trading session of the month, recording a 5.1-percent increase compared to the end of the previous month. The benchmark index fell as low as ...

Anna J. Park | 2022-08-01 08:47

Gov't to cut as many as 30,000 jobs at public organizations

The government will cut the maximum number of employee hiring allocations at public organizations beginning next year in a bid to overhaul management, which it is criticizing as inefficient and lax. The plan is anticipated to reduce as many as 30,000 jobs at 350 public organizations that expanded their operations under the previous Moon Jae-in administration.

Yi Whan-woo | 2022-07-31 17:02

Famed Assetplus CEO in hot seat for alleged borrowed-name investment

Hailed as one of Korea's investment gurus, Assetplus Investment Management Chairman and Chief Investment Officer (CIO) Kang Bang-cheon has been a frequently sought-after guest at various investment lectures and media interviews. He's well-known for his legendary investment story of increasing his principal investment of 100 million won ($76,510) to 15.6 billion won in less th...

Anna J. Park | 2022-07-31 16:55

Shinhan opens 3 branches in Vietnam, consolidates status as No. 1 foreign lender

Shinhan has newly opened three branches in the two biggest cities in Vietnam - Hanoi and Ho Chi Minh City - consolidating its status as the largest foreign lender operating in the Southeast Asian country. The bank said Sunday it has opened a new branch in Hanoi, and two in Ho Chi Minh City, which increases its total number of offices in Vietnam to 46.

Yi Whan-woo | 2022-07-31 16:48

Apartment transactions plunge in H1 on lending curbs, rate hikes

Apartment transactions in Korea fell more than 50 percent on-year in the first half of 2022 due mainly to the government's tough lending curbs and rising interest rates, data showed Sunday.

2022-07-31 13:56

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