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Reporter : Anna J. Park
Fri, December 8, 2023 | 04:40
FSC chief urges financial firms to strengthen support for self-employed
Financial Services Commission (FSC) Chairman Kim Joo-hyun has urged representatives from various financial industries to alleviate the difficulties borne by self-employed businesses and small store owners across the country.
Soaring price makes traditional gold ring gift for babies more difficult
A pure gold ring has long been a traditional gift in Korea, given on the occasion of a baby's first birthday, a blessing of health and security for the infant.
Short selling to be completely banned until mid-2024
Financial authorities in Korea announced on Sunday a complete ban on short selling from Monday until the end of June next year. The temporary ban was announced after financial authorities discovered rampant illegal short selling practices by global investment banks.
More insurance firms go up for sale after valuation adjustments
ABL Life Insurance has failed to find a new owner after private equity firms (PEFs) that were pursuing the acquisition of the life insurer have all pulled out, resulting in the cancellation of the sale process.
Will NPS wield shareholder rights over Kakao?
The National Pension Service (NPS) is poised to engage more actively in its investment into Kakao, Korea's major big tech conglomerate.
Financial firms' mis-selling over past 5 years amounts to 6 tril. won
More than 30,000 people have been victimized by the mis-selling of funds, trusts, private equity funds and insurance contracts by financial firms over the past five years.
1 in 4 properties held by Chinese nationals in Korea use mortgage loans from Korean banks
While the number of domestic real estate properties owned by foreigners in Korea is continuously increasing, Chinese nationals account for nearly 60 percent of all domestic mortgage loans to foreign nationals in Korea.
Job market set to undergo AI-driven transformation
Is the advancement of artificial intelligence (AI) technology a boon or the bane for the labor force? Will AI replace human employees? These are some of the most frequently asked questions about generative AI (gen-AI) technologies' potential impacts, which may unnerve most people in the workplace and lead them to question their job security.
FSS chief highlights maritime finance's paradigm shift toward ESG standards
Financial Supervisory Service (FSS) Governor Lee Bok-hyun accentuated the significance of maritime finance and its need to be transformed into a customized comprehensive financial service that meets global environmental, social and corporate governance (ESG) standards.
Majority of top income earners work in Seoul metropolitan area
Recent data shows that eight out of 10 high-income earners in Korea - in the top 1 percent - have jobs in the Seoul metropolitan area, including the city of Incheon and the province of Gyeonggi .
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