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Fri, December 9, 2022 | 19:09
Helping farmers
NongHyup (NH) Bank CEO Lee Dae-hoon, kneeling on the right, checks plants at a farm beset by the heat wave in Gwangmyeong, Gyeonggi Province, Thursday. The lender will roll over farmers' debts and postpone due dates of repayments by up to one year.
Korea urged to adopt 'negative regulatory system'
The financial regulator should speed up its move toward a “negative regulatory system” in order to create an ecosystem allowing new and more innovative services, analysts and industry sources said Wednesday. They said that President Moon Jae-in's bid to ease rules on internet banks is a positive step but overhauling financial regulations at the same time is urgently needed to...
For customers
KEB Hana Bank CEO Ham Young-joo, second from left, holds a squeegee at an event to celebrate the launch of Hana Financial Group's committee designed to create services tailored to customers' needs and remove inconveniences at its headquarters in Seoul, Wednesday. With Ham are KEB Hana Card CEO Jeong Su-jin, left, Hana Financial Investment CEO Lee Jin-kook, second from right, ...
Won's depreciation to slow on China's measures
The Korean won's depreciation against the U.S. dollar is expected to slow down in the coming week, following China's monetary measures to stabilize its currency, analysts say. “China's measures to cushion the yuan are likely to slow not only its depreciation but also prop up the won slightly against the U.S. dollar,” said An Young-jin, an analyst at SK Securities. However, th...
Minister, Samsung chief meeting falls short of expectations
The much anticipated meeting between Finance Minister Kim Dong-yeon and Samsung Electronics Vice Chairman Lee Jae-yong, Monday, fell short of expectations. The two met as planned at the tech giant's Pyeongtaek, Gyeonggi Province plant that develops and produces semiconductors for the global market. The meeting came amid a sense of urgency that Korea needs to revive corporate ...
Korea suffers record service account deficit in 1st half
The country's services account posted a record deficit of nearly $16 billion in the first half of the year, according to the Bank of Korea (BOK), Friday. The record comes as the country saw a sharp decrease in the number of inbound tourists especially from China amid diplomatic tension over the United States' deployment of an antimissile system here. The poor performance in t...
Mentoring students
High school students build model houses at a summer camp hosted by KB Kookmin Bank at the bank's training center in Cheonan, South Chungcheong Province, Thursday. The bank invited some 130 students interested in the construction, digital and music sectors.
Economy vulnerable to chip downcycle
Exports grew 6.2 percent to about $51.9 billion in July from a year earlier, despite the trade dispute between the United States and China, according to the Ministry of Trade, Industry and Energy. This marks the second highest after Asia's fourth largest economy posted $5.5 billion in exports in September last year. This is all thanks to semiconductors led by Samsung Electron...
Here lies self-employed
Park opened his first restaurant in 1999 selling pork belly in Seongnam, Gyeonggi Province. With five employees and his college-aged son helping out, the business was running smoothly in the beginning. But soon, it became “competitive and ugly,” Park said. On the street where he opened his business, a number of other pork belly restaurants started to pop up, leading to a pric...
Smart ATM
KB Kookmin Bank CEO Hur Yin tries out the bank's “intelligent” ATM at its Yeouido headquarters in Seoul, Wednesday. Customers can not only withdraw money, but also open bank accounts, get check cards, change passwords and speak to bank tellers via the upgraded ATM. Courtesy of KB
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