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Reporter : Kim Bo-eun
Fri, July 1, 2022 | 04:34
Outlook bright for China's carbon neutrality, chip stocks
HONG KONG - China's internet stocks had been popular among global investors up until 2020, as the companies had been achieving rapid growth. But 2021 was tough for platform giants' stocks, as authorities' strengthened crackdowns put them on a downward trajectory.
China faces tough years ahead for growth
HONG KONG - The Chinese economy is facing a slowdown in 2022 due to the aftermath of government regulatory policies and structural challenges amid the unrelenting spread of the COVID-19 pandemic, experts said Friday. China made a rebound in 2021, with its economy growing 8.1 percent from the previous year, backed by the base effect. China's GDP growth rate has steadily fallen...
China uses Olympics to take lead in digital currency race
HONG KONG - China is at the forefront of a race among major economies to develop a centralized digital currency, launching its digital yuan for use at the ongoing Beijing Winter Olympics for foreign athletes and visitors. While the introduction came amid muted fanfare due to the strict control of overseas visitors and local residents to shield the Games from the COVID-19 pand...
Hana Bank faces partial business suspension for mis-selling of funds
A partial business suspension is looming over Hana Bank, as financial authorities determined the lender should become subject to the penalty for mis-selling funds to investors from 2017 to 2019.
Will Samsung Life object to punitive measure for cancer insurance?
Samsung Life Insurance is mulling its next steps after financial authorities slapped 155 million won ($128,655) in fines and an “institutional warning” on the insurer earlier, for violating regulations in refusing to cover costs for cancer policyholders.
Korean stocks plunge on US rate hike, Omicron fears
Korean stocks took a heavy beating and dipped to the lowest level in 14 months Thursday as foreign investors dumped local shares after U.S. Federal Reserve Chairman Jerome Powell signaled a rate hike in March, while the Omicron variant spreads rapidly here. The benchmark KOSPI closed at 2,614.49, down 94.75 points or 3.50 percent from a day before. The previous low was 2,591....
PEF market forecast to continue growth in coming years
The local market for mergers and acquisitions (M&A) has grown over the years, and so has private equity firms' (PEF) role in related deals.
Extra budget feared to lead to rate hikes, inflation, burdening vulnerable
The government is drawing up another 14 trillion won ($11.7 billion) budget to support small business owners afflicted by the COVID-19 pandemic, but ironically, it is feared that the extra budget will add yet more of a burden to affected households and businesses, as the situation is set to trigger a rise in lending rates as well as consumer prices.
Presidential candidates hesitant to push for Jeonju financial center
Korea has often been criticized for a populist approach to policies in key industries. Previous administrations claimed the relocation of state-run institutions, once concentrated in Seoul, to across the country was a means to drive the growth of provincial areas.
Korean banks expand presence in Asia
Local banks are expanding their operations in Asia as they increasingly turn to overseas markets for new business opportunities.
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