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Tue, January 25, 2022 | 05:36
External risks weigh on Korea's economic recovery
The Korean economy is off to a rocky start in 2022. Asia's fourth-largest economy faces multiple downside risks - including China's economic slowdown and U.S. inflation - which are rattling the financial markets and fueling concerns over a full-fledged recovery.
Retail investors in biotech on verge of losing money over chilled market sentiment
Retail investors in biotech stocks face the risk of losing their invested money, as financial scandals surrounding key listed companies in the healthcare and pharmaceutical sectors are chilling market sentiment after a rough start in 2022.
Relocation of state-run banks as election pledge unnerves employees again
The relocation of state-run banks from Seoul to provincial areas has been brought up again by presidential candidates as a campaign promise to push forward with balanced regional development projects. While the pledges have been labelled vote-buying-schemes and have yet to be realized, the case could be different this year as the two most popular rival candidates are equally ...
Woori Financial marks sharp rise in market cap after successful privatization
Woori Financial Group is going strong on the stock market, after completing 23 years of government-led ownership and fully privatizing a little more than a month ago. Its market capitalization has grown by 17.3 percent, the sharpest rise seen on the benchmark KOSPI this year compared to the three other largest banking groups - KB Financial Group at 12.2 percent, Hana Financia...
Kakao Bank CEO's huge stake sale extends debate on betrayal of shareholders' trust
Kakao Bank CEO Yoon Ho-young was found to have dumped massive stakes in the company for a quick profit - the latest in a series of mass selling of Kakao shares by its executives that led to minority shareholders' cries of betrayal. According to financial industry sources, Wednesday, Yoon exercised the stock option to sell “tens of thousands” of the 260,000 shares he holds in ...
Banks finding breakthroughs in digital battle against big tech firms
Commercial banks appear to be getting a sense of how to counter big tech firms, which have been muscling in on the banking industry by capitalizing on their digital prowess as platform operators.
Hana Financial signs endorsement deal with Lydia Ko
Top-ranked LPGA golfer Lydia Ko sports the logo of Hana Bank, a major affiliate of Hana Financial Group, in this photo released on Tuesday, marking the Korean banking group's official sponsorship deal with her. Their partnership has been expanded from a two-year sponsorship between Ko and Hana Capital, another of the group's affiliates, from early 2020. Ko will start wearing ...
Populist pledges fuel concerns over already-snowballing gov't debt
The presidential candidates are pledging to give more cash handouts to people affected by the pandemic, fueling concerns that the country's debt may exceed the 1,060 trillion won ($893.8 billion) estimated for this year. The amount of national debt projected by the Ministry of Economy and Finance is record-high, with the government planning to draw up a supplementary budget w...
Additional rate hike adding to woes of young, low-income borrowers
An additional hike in key interest rate as hinted by Bank of Korea (BOK) chief is adding to woes of young, low-income borrowers who relied on bank loans to buy homes as well as to invest in risk assets, mainly stocks and cryptocurrencies.
'Parachute appointments' prevail at public financial entities as presidential term nears end
The administration of President Moon Jae-in, whose single, five-year term is nearing the end, is drawing criticism as a number of pro-government and pro-ruling party figures are being parachuted into high-level posts at multiple public financial institutions. Moon has strongly criticized that practice while running the office.
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