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Finance

Policies

Sun, January 17, 2021 | 16:23

[Reporter's notebook] A letter to busy FSC head: Trust is earned, not demanded.

[Reporter's notebook] A letter to busy FSC head: Trust is earned, not demanded.

Financial Services Commission (FSC) Chairman Eun Sung-soo is busy.

Lee Kyung-min | 2020-07-29 17:03

Seoul less attractive than Singapore as financial hub

Seoul less attractive than Singapore as financial hub

Singapore has been picked as the city best-prepared to take over Hong Kong's position as Asia's premier financial center, overshadowing Seoul, Tokyo, Shanghai and Taipei, according to an informal Korea Times survey of its online readers.

Park Jae-hyuk | 2020-07-29 10:46

Busan's plan to lure firms leaving Hong Kong hits snag

Busan's plan to lure firms leaving Hong Kong hits snag

Busan is apparently suffering a setback in its grand scheme of being the next premier financial hub in Asia by attracting multinational banks, asset management companies and venture capital firms leaving Hong Kong.

Park Jae-hyuk | 2020-07-28 10:11

Korea's tax on real estate trading highest among OECD

Korea's tax on real estate trading highest among OECD

The tax on real estate transactions compared to the country's GDP was the highest for Koreans in 2018, strengthening calls for revisions to the government's botched real estate policies over the past few years to lower the tax to encourage multiple home owners to sell their properties.

Lee Kyung-min | 2020-07-26 17:16

[Reporter's Notebook] Vice finance minister seems to have 'bigger ambition'

[Reporter's Notebook] Vice finance minister seems to have 'bigger ambition'

First Vice Minister of Economy and Finance Kim Yong-beom's series of recent moves have been regarded as apparent efforts to win the heart of the Moon Jae-in administration, so that he will be made the next deputy prime minister and finance minister.

Park Jae-hyuk | 2020-07-26 16:51

[EXCLUSIVE] Foreign applications for rent-free offices to begin next week

[EXCLUSIVE] Foreign applications for rent-free offices to begin next week

Seoul Metropolitan Government (SMG) will begin receiving applications from foreign financial firms for rent-free offices at the International Finance Center (IFC) on Yeouido next week, sources said Friday. The project is part of efforts to attract overseas financial companies to the capital to make it into a global financial hub; and the sources said many firms have expressed...

Kim Bo-eun | 2020-07-24 16:34

Foreigners may face heavier acquisition taxes

Foreigners may face heavier acquisition taxes

Foreigners could be slapped with heavier taxes than Koreans when buying houses here, as lawmakers consider tightening regulations on real estate investments by non-Koreans to curb skyrocketing house prices.

Park Jae-hyuk | 2020-07-24 15:59

PEFs pledge to strengthen compliance

PEFs pledge to strengthen compliance

As a series of scandals surrounding private equity investment firms such as Lime Asset and Optimus Asset Management have been wreaking havoc on local investors, the Korea Financial Investment Association (KOFIA) has pledged to fully cooperate with the financial authorities and regulators to closely audit private equity firms' operating funds and rectify management practices.

Anna J. Park | 2020-07-23 15:49

Kim elected to fight against COVID-19

Kim elected to fight against COVID-19

National Credit Union Federation of Korea (NACUFOK) Chairman Kim Yoon-sik has been elected a member of a special committee under World Council of Credit Unions (WOCCU) set up to fight against COVID-19, the organization said Thursday.

Lee Kyung-min | 2020-07-23 15:44

S. Korean economy suffers worst contraction since 1998 crisis

S. Korean economy suffers worst contraction since 1998 crisis

The economy shrank 3.3 percent in the second quarter of the year, its worst performance since the Asian financial crisis in 1998, as exports bore the brunt of the COVID-19 pandemic, the Bank of Korea (BOK) said Thursday. The global spread of the novel coronavirus led to strong downward pressure on the export-driven economy between April and June. Private consumption achieved ...

Lee Min-hyung | 2020-07-23 13:45

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