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Sun, November 27, 2022 | 13:30
Economy faces risk of entering vicious cycle
The Korean economy will enter a vicious cycle, resulting from a too steep rise in the cost of labor, if the government does not readjust and slow the speed and level of its key policy boosting the minimum wage and reducing working hours. Park Chong-hoon, the head of economic research at Standard Chartered (SC) Bank Korea, said the rise in the labor cost has led to a decrease ...
Macquarie, Platform extend fight to court
Macquarie Korea Asset Management and Platform Partners Asset Management are extending their fight over the management of an infrastructure fund into a court battle, according to both companies. Macquarie has recently filed a court injunction, requesting it to suspend trading of the fund listed on the stock market by investors who borrowed the stocks from their lender. The Aus...
Shinhan to hold board meeting on Orange deal
Shinhan Financial Group is scheduled to hold a board meeting Wednesday in which its members are expected to finalize the decision on whether to acquire Orange Life, according to the listed financial holding company. A group spokesman said the group will hold the meeting Wednesday morning given that its outside board members, including college professors have to get back to th...
Checking on small biz
Yoo Yoon-dae, center, executive vice president of NongHyup Bank, listens to an executive of Dongjin MI about its steel production at the company's factory in Siheung, Gyeonggi Province, Monday. NongHyup is visiting small- and medium-sized enterprises to check whether they will need financial support ahead of the Chuseok holiday. Courtesy of NongHyup Bank
Going to help Cambodia
Woori Bank CEO Sohn Tae-seung, center, raises his fist with the bank's volunteer workers at a ceremony at its headquarters in Seoul, Monday before they head off to Cambodia. The bank chose 40 workers, who received excellent scores in their evaluations, to help build facilities at elementary schools in Phnom Penh from Sept. 3 to 7. Courtesy of Woori Bank
Korean cinematographer to shoot BBC thriller 'The Little Drummer Girl'
Cinematographer Kim Woo-hyung has joined director Park Chan-wook and BBC's production team to shoot their mini-series spy drama, “The Little Drummer Girl,” according to the Internet Movie Database (IMDB).The drama, consisting of six episodes, is based on the book of the same title by John le Carre, who is often referred to as the “master of spy storytelling.” The TV mini-seri...
Financial firms 'studying' to cash in on North Korea
Local financial groups are mobilizing their employees and executives to form internal preparedness teams focusing on studying North Korea. KB Financial, Shinhan Financial, Hana Financial and Woori Bank groups have either set up internal taskforces or had their subsidiaries establish them. They have been formed mostly to “research” North Korea and its economy, and draw up pote...
Discussing digital future
NongHyup Financial Group Chairman Kim Gwang-soo, third from right, talks about the digital future of the financial company with his employees, who recently took courses on innovation offered by its in-house leadership program, at a restaurant in Seoul, Aug. 31. Kim has stressed the importance of digitally transforming the group and fostering people to gain digital management ...
Corporate investment falls for 5th straight month
Private sector investments in equipment for the expansion of plants fell 0.6 percent in July from the month before, according to state-run Statistics Korea, Friday. The country's facility investments have declined for five straight months. This marks the longest downturn in 20 years. The decline in July was mainly due to the semiconductor industry reducing its investment as i...
'Central bank has no role in improving job market'
Bank of Korea (BOK) Governor Lee Ju-yeol said the country is expected to stay on track to achieve its growth potential this year, despite growing external risks stemming from the ongoing trade dispute between the United States and China. Even with this uncertain outlook and the worsening job market, he added Korea is likely to grow toward the potential rate of 2.9 percent thi...
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