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Finance

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Sun, July 12, 2020 | 10:05

BOK tipped to maintain rate at record low, seek unconventional measures

The Bank of Korea (BOK) is widely expected to hold the policy rate frozen for the remainder of this year, and search for other ways to support the pandemic-hit economy, analysts said Saturday, noting the South Korean central bank may already be close to reaching the limits of its conventional measures.

2020-07-11 12:39

[Reporter's notebook] 'Actions speak louder than words'

[Reporter's notebook] 'Actions speak louder than words'

One of the main policy drives of National Tax Service (NTS) Commissioner Kim Hyun-jun has been identifying attempted tax evasion concerning gains derived from property trading, in line with the Moon Jae-in administration's key initiative to stem real estate speculation.

Lee Kyung-min | 2020-07-10 16:20

Owners of multiple houses face heavy punitive taxes

Owners of multiple houses face heavy punitive taxes

The government will impose heavier taxes on owners of multiple homes and those who sell their properties within two years after purchasing them, as part of efforts to stabilize the housing market, the Ministry of Economy and Finance said Friday.

Park Jae-hyuk | 2020-07-10 15:53

Blame game escalates between NH Investment and KSD over Optimus fiasco

Blame game escalates between NH Investment and KSD over Optimus fiasco

The scandal-ridden Optimus Asset Management's expected failure to return over 535 billion won ($447 million) to investors was developing into full-blown war of accusations between the Korea Securities Depository (KSD) and NH Investment and Securities, Thursday.

Lee Kyung-min | 2020-07-09 17:15

'Punitive tax, removal of tax incentives for landlords, corporate bodies in store'

'Punitive tax, removal of tax incentives for landlords, corporate bodies in store'

Little to no desired outcome is expected from the government and ruling party's desperate push for “far stronger” measures to stem property speculation, as they refuse to acknowledge the shortcomings of their repeatedly failed measures that dismissed market principles and public expectations.

Lee Kyung-min | 2020-07-08 17:36

Spokesmodels for population census

Spokesmodels for population census

Statistics Korea (KOSTAT) Commissioner Kang Shin-wook, center, poses with actor Park Seo-joon, left, and announcer Park Sun-young at the SKY31 Convention in Seoul, Wednesday, after appointing them as honorary ambassadors for the Population and Housing Census and the Census of Agriculture, Forestry and Fisheries. The censuses are taken every five years. / Courtesy of KOSTAT

Park Jae-hyuk | 2020-07-08 16:34

5 reasons Korea cannot become financial hub

5 reasons Korea cannot become financial hub

Attention is growing over Hong Kong's possible replacement as a financial hub of Asia, after the city has become increasingly unstable following China's implementation of the national security law and the U.S. revoking of Hong Kong's special trading status.

Kim Bo-eun | 2020-07-08 11:52

Controversial revision criticized as pro-union

Controversial revision criticized as pro-union

The government is drawing criticism for its push to revise a law, Tuesday, a move that's being called pro-labor and anti-business, mostly because it would allow expanded membership of a company union to include dismissed workers as well as those not employed by the firm. Also to be allowed is legal recognition for the Korea Teachers' and Education Workers' Union (KTU), a grou...

Lee Kyung-min | 2020-07-07 17:20

[Reporter's Notebook] Unending controversy surrounding capital gains tax

[Reporter's Notebook] Unending controversy surrounding capital gains tax

Retail investors' disgruntled voices are being raised over the government's planned capital gains tax scheme, which will go into effect in 2023.

Anna J. Park | 2020-07-06 18:05

Do fintech services expose users to greater risks?

Do fintech services expose users to greater risks?

Leading financial services platforms' announcements of measures to protect consumers that fall victim to fraud are raising questions about whether fintech services expose users to greater security risks.

Kim Bo-eun | 2020-07-06 17:54

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