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Thu, June 21, 2018 | 15:12

Economy >

Koreans buying more shares of Amazon, Facebook

More Koreans are opening global accounts with domestic brokerages to buy foreign stocks, providing a lucrative source of income for securities firms.

Finance | 2018-06-20 17:43

Bithumb hacked, losing coins worth $32 mil.

Cyber criminals stole an estimated 35 billion won ($31.5 million) worth of virtual coins from Bithumb, the nation's largest crypto exchange, over late Tuesday through Wednesday.

Finance | 2018-06-20 16:13

Korea grappling with household debt, income inequality

Short-term prospects for the Korean economy are good with an uptick in world trade and fiscal policy driving growth. However, widening wage inequality and high household debt are weighing on the economy, an Organization for Economic Cooperation and Development (OECD) survey reported Wednesday.

Policies | 2018-06-20 16:22

FTC head draws fire from shareholders of chaebol units

Minority shareholders of Samsung SDS are taking action against Fair Trade Commission (FTC) Chairman Kim Sang-jo as his comment pulled down prices of company shares.

Finance | 2018-06-19 16:19

Central bank expressing concerns about US rate hike

The Bank of Korea (BOK) Governor Lee Ju-yeol expressed concerns about possible adverse effects of the recent U.S. rate hike as chances for more rate increases will raise uncertainty about market volatility.

Policies | 2018-06-19 16:58

Lenders strengthening mobile platforms in Vietnam

The nation's major banks are strengthening their mobile platforms to take the upper hand in Vietnam's financial market. According to Shinhan Bank, it recently concluded a digital business partnership with Vietnam's largest messenger app Zalo and started introducing various financial products to Vietnam this month. About 80 percent of the Vietnamese people reportedly use Zalo via their smartphones.

Finance | 2018-06-19 16:26

Banks eager to attract foreign customers

The nation's major banks are rushing to attract more foreign customers as the number of residents of Korea from overseas has surpassed 2 million. Banks have introduced various special financial services exclusively for foreign customers, including free wire transfers and even housing loans.

Finance | 2018-06-18 15:47

Self-employed alarmed by rising interest rates

As interest rates on loans are surging following a U.S. key rate hike, the self-employed, already suffering from a sluggish economy and soaring costs following the steep minimum wage hike, are facing snowballing burdens of paying back loans. Analysts warn that it could hamper economic recovery as well as cause trouble in the financial market if they have problems paying back ...

Finance | 2018-06-18 17:14

Nuclear reactor shutdown clouds Korea's export plan

The decision to shut down Wolsong-1 nuclear reactor as well as canceling plans for the construction of four new ones is raising concern that it will adversely affect export plans and hurt the industrial ecosystem. Analysts also expect electricity rate hikes will be inevitable.

Policies | 2018-06-18 17:13

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