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Mon, June 1, 2020 | 23:38
No. of multiple homeowners reaches record high in 2018
No. of multiple homeowners reaches record high in 2018
The number of people who own more than 10 homes in South Korea climbed to a new high last year, marking a turnaround from a slight drop the year before, data showed Sunday. As of end-2018, the number of people with 10 or more homes here came to 37,487, up 2.1 percent from 36,731 a year earlier, according to the data from Statistics Korea.
2019-12-22 13:48
Why companies leave Korea
Why companies leave Korea
Korean companies are expanding investments overseas to build plants and other facilities while remaining reluctant to do the same at home due to labor-friendly government policies, regulations and soaring costs, experts said Friday. They say the trend has put Asia's already-flagging fourth-largest economy on a steeper-than-expected downward spiral, leading to more job cuts an...
Lee Kyung-min | 2019-12-20 17:04
AI-powered robot to serve bank customers in 2020
AI-powered robot to serve bank customers in 2020
Customers will next year be able to use robot-recommended financial services that best meet their needs, the financial regulatory said Thursday. NongHyup Bank will introduce an artificial intelligence (AI)-powered robot in November that notifies users of the best time to visit bank branches after assessing whether the office is crowded and the expected wait time.
Lee Kyung-min | 2019-12-19 17:09
Regulator meets insurers
Regulator meets insurers
Financial Services Commission (FSC) Chairman Eun Sung-soo, third from right, speaks during a meeting with CEOs of insurance companies at the Government Complex Seoul, Thursday. Eun said the government seeks to overhaul structures for indemnity medical insurance and car insurance to reflect a rise in loss ratio. / Courtesy of FSC
Park Jae-hyuk | 2019-12-19 16:33
Gov't under fire for 'socialistic' real estate policies
Gov't under fire for 'socialistic' real estate policies
The government is facing a severe public backlash following the announcement of its latest measures to curb rising real estate prices in Seoul, which many experts claim skew toward demand-side regulations. The experts said the government should consider supplying more homes in Seoul's affluent areas, describing the lopsided policies focusing on taxes and loan control as a vio...
Park Jae-hyuk | 2019-12-19 15:54
More Koreans pursuing work-life balance
More Koreans pursuing work-life balance
The number of people that place equal value on work and life surpassed those that prioritize work, indicating people no longer embrace the traditional definition of professional success that usually came at the expense of personal life, government data showed Wednesday.
Lee Kyung-min | 2019-12-18 17:05
Chief financial regulator warns of housing bubble
Chief financial regulator warns of housing bubble
South Korea's chief financial regulator on Tuesday warned of a home price bubble, a day after the government unveiled the toughest steps ever to rein in a rise in housing prices. "It's a matter of time until house prices fall sharply, though it is not clear whether the decline will occur in the next five or 10 years," Financial Services Commission Chairman Eun Sung-soo said i...
2019-12-17 18:14
FSC chief vows to lower entry barriers for 'innovative finance'
FSC chief vows to lower entry barriers for 'innovative finance'
The nation's top financial regulator has vowed to prioritize “innovative finance” in 2020 while taking pre-emptive actions to ensure market stability.
Kim Jae-kyoung | 2019-12-17 17:11
Household debt grows much faster than income
Household debt grows much faster than income
Household debt grew almost three times as fast as income over the past year in Korea, indicating that Korean households have become more vulnerable to external shocks, government data showed Tuesday. The renewed concern is highlighted by people increasingly seeking windfall gains from real-estate speculation with cheap borrowing costs amid low interest.
Lee Kyung-min | 2019-12-17 17:07
Gov't urged to revitalize private sector in 2020
Gov't urged to revitalize private sector in 2020
Economy and Finance Minister Hong Nam-ki should modify economic policies in a way that can minimize state intervention and rehabilitate the sluggish private sector in 2020, according to economists, Friday. They have called for the finance minister, who concurrently serves as the deputy prime minister, to take more action to speed up regulatory reform and foster entrepreneursh...
Lee Kyung-min | 2019-12-16 17:27
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DARKROOM
  • Bearing Witness: Images of 2020 Pulitzer Prize (Part 2)

    Bearing Witness: Images of 2020 Pulitzer Prize (Part 2)

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    Bearing Witness: Images of 2020 Pulitzer Prize (Part 1)

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    Life goes on in Korea amid coronavirus pandemic (Part 7)

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    Life goes on in Korea amid coronavirus pandemic (Part 6)

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