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Reporter : Yoon Ja-young
Fri, September 22, 2023 | 21:12
What needs to be done to shore up Korea's economy in times of crisis?
In August, I attended the opening ceremony of KEXIM Global (Singapore) Ltd., Korea Eximbank's subsidiary in Singapore. The event was organized to announce Korea Eximbank's resumption of operations in Singapore after 25 years of absence due to the Asian Financial Crisis, and also to launch the bank's new regional financing hub in the Asia-Pacific region.
Tax commissioners' meeting
National Tax Service (NTS) Commissioner Kim Chang-ki, left, poses with OECD Forum on Tax Administration Chair Bob Hamilton, center, and Australian Taxation Office Commissioner Chris Jordan, right, at the 15th Plenary meeting of the OECD Forum on Tax Administration held in Sydney, ...
Korea's 100 richest in housing own 21,000 homes
The country's richest 100 people in terms of housing ownership possess nearly 21,000 homes. The total official value of these homes exceeds 2.5 trillion won ($1.74 billion). According to Statistics Korea data submitted to Rep. Kim Hoi-jae of the main opposition Democratic Party of Korea, the 100 most prolific homeowners in the country owned 20,689 units of housing as of 2020....
Koreans consume 53 bottles of soju, 83 bottles of beer a year
The average adult residing in Korea consumed on average 53 bottles of soju and 83 bottles of beer last year, data showed. That is equal to a bottle of soju and nearly two bottles of beer a week. According to National Tax Service (NTS) data submitted to Rep. Kim Sang-hoon of the ruling People Power Party, 825,848 kiloliters of soju was shipped out from local soju breweries las...
Brokerages lose credibility due to dearth of sell recommendations
The country's securities firms are losing investors' trust as their analysts are only recommending buying shares in their reports, while sell recommendations account for only 0.13 percent of the total reports. According to Financial Supervisory Service (FSS) data submitted to Rep. Kang Byung-won of the main opposition Democratic Party of Korea, the country's 32 securities fir...
MBK Partners chairman donates $10 million to the Met
MBK Partners' co-founder and partner Kim Byung-ju is donating $10 million to the Metropolitan Museum of Art in New York, the museum announced Tuesday. The museum will name a gallery after Kim and his wife, which will be the first gallery in the museum named after a person of Korean descent.
Korea should raise the official age of senior citizens to 73: researcher
In Korea, people are categorized as senior citizens once they reach 65. In the future, they may have to wait until 73 to be defined as such, as a research think tank suggested raising the official age of senior citizens in an attempt to reduce social welfare spending. Lee Tae-suk, director of the department of public finance and social policy at the Korea Development Institut...
Government moves to overhaul inheritance tax system
The Yoon Suk-yeol administration took the first step to lower inheritance tax rates, following an announcement in July that it will overhaul the inheritance tax system. The Ministry of Economy and Finance announced recently it is taking bids for a research project looking into the introduction of an inherited property acquisition tax system.
Banks to toughen monitoring to prevent voice phishing
When a bank customer wants to withdraw a lump sum of money from their account, they will be asked some specific questions to prevent them from falling prey to voice phishing starting next month, the financial regulator announced on Thursday.
RCI Financial Services Korea appoints new CEO
RCI Financial Services Korea, a specialized automotive finance affiliate of Renault Group and Renault Korea Motors, announced on Monday that it has appointed Alexander Zhurkin as its new CEO. Recognized for his achievements as a development expert and global strategist, Zhurkin has more than 20 years of professional experience in Europe, North America and Russia through Phili...
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