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Finance

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Sat, January 25, 2020 | 15:01

Korea's financial hub vision becomes more 'elusive'

Korea's financial hub vision becomes more 'elusive'

Korea's long-term vision of becoming a financial hub in Asia has become more and more “elusive” as China has decided to open its financial market worth $45 trillion (52.5 quadrillion won) by removing regulations on the ownership of foreign financial players operating there. Given that Korea is already struggling to attract foreign investment due to its militant unions and ant...

Lee Kyung-min | 2020-01-23 17:21

FSS bolsters consumer protection department

FSS bolsters consumer protection department

The Financial Supervisory Service (FSS) said Thursday it will beef up its consumer protection department, doubling the number of affiliated divisions. The restructuring is seen as taking into account financial authorities' alarm over losses incurred by investors in derivative options last year and growing concerns over the option-based funds managed by Lime Asset Management.

Kim Bo-eun | 2020-01-23 15:59

SME workers earn less than half of conglomerate employees

SME workers earn less than half of conglomerate employees

The salaries of workers at small and medium-sized enterprises (SMEs) were less than half of those made by employees at large conglomerates, data showed Wednesday.

Lee Kyung-min | 2020-01-22 18:11

Korean economy suffers worst growth in 10 years

Korean economy suffers worst growth in 10 years

The country's economic growth cooled to a ten-year low of 2 percent in 2019 due to a setback both in domestic demand and exports amid prolonged trade feud between the U.S. and China. This is the worst since 2009 when the annual gross domestic product (GDP) came in at 0.8 percent in the aftermath of the global financial crisis.

Lee Min-hyung | 2020-01-22 17:02

KSD takes initiative in job creation for sustainable growth

KSD takes initiative in job creation for sustainable growth

Korea Securities Depository (KSD) has taken an initiative in bolstering corporate social responsibility by ramping up efforts to create more jobs and build a sustainable and inclusive business model, the organization said Tuesday. Under the initiative, the KSD has organized various programs to help the underprivileged find meaningful employment.

Lee Kyung-min | 2020-01-21 18:25

Gov't considers levying income taxes on cryptocurrency

Gov't considers levying income taxes on cryptocurrency

Expectation is growing that the government will tax around 20 percent of gains derived from cryptocurrency trading, a move seeking to recognize one-off, windfall occurrences derived from the digital currency, sources said Monday.

Lee Kyung-min | 2020-01-20 17:45

For warmer Seollal

For warmer Seollal

Financial Services Commission (FSC) Chairman Eun Sung-soo, left, and Korea Inclusive Finance Agency President Lee Gye-mun, second from left, distribute food to a senior citizen at the Senior Welfare Center of Seoul, Monday. The FSC also made a donation to the center on the occasion of Seollal, or Lunar New Year holiday. / Courtesy of FSC

Park Jae-hyuk | 2020-01-20 16:31

South Korea mulls 20% tax on cryptocurrencies

South Korea mulls 20% tax on cryptocurrencies

The Ministry of Economy and Finance has recently ordered its office of income tax to review a taxation plan for cryptocurrencies, according to officials. Previously, the ministry's office of property tax had reviewed the plan. The move raised speculation that the government may categorize gains from cryptocurrency trading as other income, not capital gains. A government offic...

2020-01-20 10:51

[INTERVIEW] Korean economy expected to bottom out in 1st half

[INTERVIEW] Korean economy expected to bottom out in 1st half

The Korean economy will show clear signs of rebound in the first half, in what many hope to be the beginning of a much-awaited recovery after an undoubtedly tough year of 2019, the country's top economic policymaker said Monday.

Lee Kyung-min | 2020-01-19 16:45

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

[INTERVIEW] 'South Korea doesn't push socialist economic policies'

With the Moon Jae-in administration rolling out a series of measures focusing on redistribution over growth, there has been growing concern here and abroad that “socialism” is permeating into the capitalist South Korea. Many foreigners, in particular, have criticized Seoul government for tipping the balance of economic policies toward socialism, which they claim violate free ...

Kim Jae-kyoung | 2020-01-19 16:25

[INTERVIEW] Korean economy expected to bottom out in 1st half

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