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Sun, May 29, 2022 | 13:44
Debate heats up over retirement age extension
Debate on whether to extend the country's legal retirement age is heating up amid a rapidly aging population. This comes as Finance Minister Hong Nam-ki said policymakers have formed a taskforce to consider the extension. Given the sensitivity of the issue, which could ignite a conflict between the young and old, Hong added the public has to reach a consensus before the gover...
'Parasite' photographer Hong draws attention
Hong Kyung-pyo, the director of photography for director Bong Joon-ho's Cannes winner “Parasite,” is getting the spotlight for his work as much as Bong and the star of the film Song Kang-ho. Bong and Song thanked Hong among the crew, including art director Lee Ha-jun for his “artistic contribution” at press conferences in Cannes and Seoul after receiving the Palme d'Or.
Current account swings into red in 7 years
The country had a current account deficit in April for the first time in seven years due to falling exports and an increase in foreign dividend payments, according to the Bank of Korea (BOK), Wednesday. The deficit of $660 million ended 83 straight months of current account surpluses. The last time the country had a deficit was in April 2012 amid a crisis in some European cou...
Celebrating anniversary with farmers
Korea Deposit Insurance Corp. (KDIC) CEO Wi Seong-bak, third from left in the front row, poses with his employees and farmers at an event celebrating the company's 23rd anniversary at its headquarters in Seoul, Tuesday. KDIC helped the farmers open a small market in front of the company to sell their goods. Courtesy of KDIC
KB Card, Wadiz forge ties for new biz
KB Kookmin Card has forged an alliance with Wadiz, a local crowdfunding platform, to develop new businesses with startups, the two companies said Tuesday. They will also launch a 1 billion won ($850,000) venture capital fund to invest in fintech startups.
Gov't to boost big data in finance
The Financial Services Commission (FSC) and the state-run Korea Credit Information Services (KCIS) will open a new database called CreDB as part of steps to boost big data analysis, the regulator said Monday.They will enable fintech startups and financial companies to gather and sample as much as 2 million unidentified personal data from the CreDB to analyze and study financi...
Donating emergency kits
Woori Financial Group Chairman Sohn Tae-seung, left, stands with Korea Red Cross President Park Kyung-seo at the group's headquarters in Seoul, Monday. Woori Financial spent 100 million won to provide 1,200 relief goods kits to the Korea Red Cross. Courtesy of Woori Financial Group
Eximbank backs LS-Nikko's Chile copper development
The Export-Import Bank of Korea (Eximbank) has decided to provide $400 million in project financing to LS-Nikko Copper to develop a copper mine in Chile, the policy bank said Monday. The project financing includes $240 million in loans for the Korean-Japanese joint venture to use for the development of the mine in Tarapaca in northern Chile, bordering Bolivia. The copper mine...
BOK faces dilemma over key rate
The Bank of Korea (BOK) will continue to face a dilemma over cutting its key interest rate amid “three lows” - low growth, low inflation and low employment - alongside political pressure, analysts said Friday.
Startup center in Busan
Financial Services Commission Chairman Choi Jong-ku, second from left, applauds at the opening of a joint innovation center for startups in telecommunications, healthcare, chemicals and new materials by the Korea Exchange (KRX) and the Industrial Bank of Korea (IBK) in Busan, Friday. From left are IBK CEO Kim Do-jin, Choi, Busan Mayor Oh Keo-don and KRX CEO Jung Ji-won. Yonhap
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