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Reporter : Anna J. Park
Fri, December 8, 2023 | 04:25
Korea projected to join world's top 7 economies by 2040: McKinsey
Korea is forecast to grow into the world's seventh-largest economy by 2040, with per capita gross domestic product (GDP) expected to surpass $70,000, according to the head of McKinsey & Company in Korea on Thursday.
Korea Investment & Securities CEO called to appear at Assembly audit next week
Korea Investment & Securities CEO Jung Il-mun is slated to attend an audit at the National Assembly as a witness next week. Jung is expected to be grilled during his appearance at the audit session, as his firm is embroiled in allegations of unfair trade practices and technology theft against a startup company.
Korea ranks highest among Asian countries as top remote work destination: NordLayer
Korea ranked 17th in this year's Global Remote Work Index (GRWI), an index evaluating countries for their remote work environment.
'Man of Roh Moo-hyun' publishes memoir recounting pivotal economic policies that shaped today's Korea
Former presidential policy chief Byeon Yang-kyoon, 74, who earned the trust of the late President Roh Moo-hyun, to the extent that he was called 'the man of Roh,' has recently published his memoir.
FSS mulls criminal punishment for illegal short selling by foreign firms
Financial Supervisory Service (FSS) Governor Lee Bok-hyun has vowed to push for heavier punishment for illegal short selling practices conducted by some global investment banks in Korea. Lee said he finds it problematic that some foreign institutional investors routinely engage in naked short selling, despite knowing such practices are illegal.
Pet insurance plans to be diversified in Korea
Insurance companies offering only pet insurance plans will now be allowed to enter the local market. Pets may soon be officially registered through their nose wrinkles or iris data. A convenient one-stop system, allowing pet owners to complete every step of the procedure - from signing up for veterinary hospitals to claiming hospital expenses with insurers - on a single platf...
Financial regulator to close legal vacuum from now-expired workout law
As the country's five-year-limited law on corporate debt restructuring or workout expired on Monday, the Financial Services Commission (FSC), the top financial regulator, has vowed to respond to the legislative vacuum with voluntary agreements between debt-lending financial institutions and money-borrowing corporations to minimize potential confusion in the market. The financ...
Seoul braces for greater market volatility amid Israel-Hamas war
The Korean government has made the necessary preparations to respond to any potential impacts caused by the ongoing military clashes between Israel and Hamas.
Entertainment stocks fluctuate over artists' contract statuses
The stock price of K-pop powerhouse YG Entertainment has been on a steep dive during the past two months, since its seven-year contract with superstar girl group BLACKPINK officially expired in early August.
Companies reluctant to issue bonds amid rising interest rates
Companies are turning to bank loans and asset sales to secure cash instead of issuing corporate bonds amid rising interest rates.
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