KoreaTimes - Finance

The Korea Times

The Korea Times

The Korea Times

Finance

Mon, September 25, 2023 | 02:57

Naver, Kakao engage in fierce payment competition in China, Japan

Naver, Kakao engage in fierce payment competition in China, Japan

Naver Pay and Kakao Pay, the two leading mobile payment service businesses in Korea, are pit against each other in the Chinese and Japanese markets, as their domestic growth rates have somewhat slowed due to market saturation. Naver Pay announced on Tuesday that its mobile payment service can now be widely utilized in China, by scanning a QR code, at all affiliated stores of ...

Anna J. Park | 2023-09-19 16:39

Financial regulator in dilemma over making ESG disclosures mandatory

Financial regulator in dilemma over making ESG disclosures mandatory

Financial authorities are gearing up to require companies with over 2 trillion won ($1.5 billion) in assets to submit sustainability reports starting in 2025. However, such efforts are making slow progress as companies are now urging the regulators to extend the period, citing a lack of clear guidelines and costs.

Lee Yeon-woo | 2023-09-19 16:37

GICC 2023 kicks off in Seoul

GICC 2023 kicks off in Seoul

Minister of Land, Infrastructure and Transport Won Hee-ryong, front row fifth from left, poses with International Contractors Association of Korea Chairman Park Sun-ho, front row right, and Hyundai Engineering & Construction CEO Yoon Young-joon, front row second from left, as well as ministers and CEOs from 24 countries and foreign envoys in Korea during the opening cerem...

Ko Dong-hwan | 2023-09-19 16:30

Delinquency ratio on bank loans up in July on decrease in resolved loans

Delinquency ratio on bank loans up in July on decrease in resolved loans

The delinquency ratio on loans extended by banks in Korea increased in July from a month earlier due to a decrease in the volume of resolved loans, preliminary data showed Tuesday.

2023-09-19 15:04

K bank, KakaoBank and Toss Bank's delinquency rates rise to all-time high

Cross-border shopping from Korean consumers nearly tripled from 2018 to 2022: data

Cross-border shopping from Korean consumers nearly tripled from 2018 to 2022: data

Direct purchases Koreans made from overseas almost tripled over the past four years, data from the Korea Customs Service showed Tuesday.

2023-09-19 11:15

Manufacturing sector loses momentum as job creation declines

Manufacturing sector loses momentum as job creation declines

Manufacturing jobs in the second quarter of 2023 accounted for 15.5 percent of jobs across all industries in Korea, a record low for the past 10 years, as export growth decelerates and the population shrinks at a faster pace, data showed on Monday.

Yi Whan-woo | 2023-09-18 16:46

[CONTRIBUTION] Fed higher for longer vs. BOK status quo

CONTRIBUTIONFed higher for longer vs. BOK status quo

In the Jackson Hole meeting in August, Federal Reserve Chair Jerome Powell compared the current management of monetary policy to “navigating by the stars under cloudy skies.” He firmly stated that the Fed is not contemplating an increase in its 2 percent inflation target and that there will be no pivot in its interest rate policy (interest rate cut) in the near future.

2023-09-18 16:11

Hana Playlist Concert

Hana Playlist Concert

K-pop girl group IVE performs as part of the Hana Playlist Concert at Yonsei University in Seoul, Sunday. Hosted by Hana Bank for two days on Saturday and Sunday, the concert featuring top artists including PSY, Sung Si-kyung, MeloMance, Zerobaseone, IVE and Jannabi had around 500,000 customers applying for tickets. The bank noted that it will continue hosting diverse cultura...

2023-09-18 16:11

Policy banks expand coal power funding despite ESG emphasis

Policy banks expand coal power funding despite ESG emphasis

Despite their emphasis on sustainable finance, the Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank) have been increasing their financial support for coal-fired power generation.

Lee Yeon-woo | 2023-09-18 15:51

K bank, KakaoBank and Toss Bank's delinquency rates rise to all-time high

K bank, KakaoBank and Toss Bank's delinquency rates rise to all-time high

With interest rates remaining high, the financial soundness of three internet-only banks - K bank, KakaoBank and Toss Bank - has begun to deteriorate, as their delinquency rates continue to soar to highs. The fact that the banks provide a larger proportion of their credit loans to medium- and low-credit borrowers is even more concerning.

Anna J. Park | 2023-09-18 15:24

Delinquency ratio on bank loans up in July on decrease in resolved loans

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