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Thu, August 6, 2020 | 19:59

Korea to tighten rules on stock short selling amid market rout

Korea to tighten rules on stock short selling amid market rout

South Korea's financial authorities said Tuesday they will tighten regulations on stock short selling as part of market stabilization measures amid increased fluctuations sparked by the outbreak of the new coronavirus and a slide in global oil prices. Finance Minister Hong Nam-ki said the government will temporarily ease its requirements for the designation of certain shares ...

2020-03-10 09:26

Seoul stocks crash on fears of pandemic

Korea one step closer to cryptocurrency taxation

Korea one step closer to cryptocurrency taxation

The government will speed up its efforts to tax cryptocurrencies after the National Assembly passed a revision to the Reporting and Using Specified Financial Transaction Information Act, industry officials said Monday.

Park Jae-hyuk | 2020-03-10 09:20

[INTERVIEW] 'BOK should opt for one-time large cut'

[INTERVIEW] 'BOK should opt for one-time large cut'

Attention has grown over possible moves the Bank of Korea (BOK) will take next month, after the U.S. Federal Reserve made an emergency 50 basis point rate cut March 3 (local time) amid the rapid spread of the COVID-19 coronavirus worldwide.

Kim Bo-eun | 2020-03-09 14:58

Red tape baffles virus-hit SMEs

Red tape baffles virus-hit SMEs

Many small- and medium-sized enterprises (SMEs) hit hard by the rapid spread of the new coronavirus continue to experience difficulty in taking out loans, due mostly to a lack of manpower to process their requests coupled with overall administrative inefficiency.

Lee Kyung-min | 2020-03-08 16:51

'Rate cuts not enough to keep economy on track as virus spreads'

'Rate cuts not enough to keep economy on track as virus spreads'

'Rate cuts not enough to keep economy on track as virus spreads'

The Bank of Korea's possible 25 basis points cut in its benchmark key rate may not be enough to keep the economy on track, as the spread of the COVID-19 coronavirus, in itself, should never be a determining factor for monetary easing, experts said Sunday.

Lee Min-hyung | 2020-03-08 16:48

P2P lending faces growing concerns

P2P lending faces growing concerns

The nation's peer-to-peer (P2P) lending market has been losing its credibility, due to a snowballing delinquency rate in the industry and alleged investment fraud involving some well-known companies.

Park Jae-hyuk | 2020-03-08 09:14

Lobby groups join forces

Lobby groups join forces

Financial Services Commission (FSC) Chairman Eun Sung-soo, second from left, talks to heads of six financial industry lobby groups at the Korea Federation of Banks (KFB) headquarters in Seoul, Friday. They vowed to work together to support small- and medium-sized enterprises facing difficulties due to the COVID-19 outbreak. Clockwise from left are Korea Financial Investment A...

Park Jae-hyuk | 2020-03-06 15:47

FSS appoints five new deputy governors

FSS appoints five new deputy governors

Financial Supervisory Service (FSS) Governor Yoon Suk-heun named five new deputy governors in a regular reshuffle, Thursday, whose three-year term begins today. Former FSS spokesman Cho Young-ick will be in charge of consumer protection, a function of growing importance following a series of investment scandals involving the mis-selling of financial products, including deriva...

Lee Kyung-min | 2020-03-06 15:14

Korea may join global wave of rate cuts in March

Korea may join global wave of rate cuts in March

The Bank of Korea (BOK) is expected to join a new round of global monetary policy easing this month in a bid to minimize the economic fallout from the rapid spread of COVID-19, economic experts said Thursday. Economists said that the probability of a BOK's immediate rate cut is increasing after the U.S. Federal Reserve made an emergency 50 basis point reduction Tuesday (local...

Park Jae-hyuk | 2020-03-06 10:26

Government to ban export of face masks

Government to ban export of face masks

The government will ban the export of face masks from today, as part of emergency measures to curb the continued spike in their prices and a shortage of what many consider a daily necessity to prevent any further spread of the coronavirus here, the Ministry of Economy and Finance said Thursday. The measures will remain effective until June 30. The government will control the ...

Lee Kyung-min | 2020-03-05 17:02

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