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Finance

Policies

Sun, January 17, 2021 | 15:01

Gov't to help Korean firms secure mega deals abroad

Gov't to help Korean firms secure mega deals abroad

The government said Monday that it will help local firms win 30 key overseas projects by providing consulting and financing in a bid to get the Korean economy, which has additionally been hit by the fallout from the COVID-19 pandemic, back on track. The measure comes amid a continued drop in business projects local players have secured overseas over the past few years, with t...

Lee Kyung-min | 2020-06-15 16:58

Fitch to assess risk of Korea's fiscal easing

Fitch to assess risk of Korea's fiscal easing

Fitch Ratings has expressed concern that Korea's current fiscal easing to fight the COVID-19 pandemic could result in a deterioration of the country's public finances. The concern is a reflection of the nation's rapidly-rising sovereign debt-to-GDP ratio after the government executed three expansionary budgets in the first few months of 2020, in moves to combat the fallout fr...

Lee Min-hyung | 2020-06-15 16:39

Support for car industry

Support for car industry

Financial Services Commission (FSC) Chairman Eun Sung-soo, right, speaks during a meeting with car and banking industry officials at the Korea Fuel-Tech Corporation's Pangyo office in Seongnam, Gyeonggi Province, Monday. He said the government will stand surety for over 300 billion won ($247 million) borrowed by small and medium-sized auto parts makers that have faced difficu...

Park Jae-hyuk | 2020-06-15 16:31

Bank of Korea launches legal advisory panel for digital currency

Bank of Korea launches legal advisory panel for digital currency

The Bank of Korea (BOK) said Monday it had launched a legal advisory panel to review possible regulatory hurdles in issuing a central bank digital currency (CBDC). The panel consists of six experts in the finance and IT sectors - including professors of commercial law and lawyers specializing in fintech.

Lee Min-hyung | 2020-06-15 15:37

Finance ministry under political pressure to offer 2nd emergency fund

Finance ministry under political pressure to offer 2nd emergency fund

The Ministry of Economy and Finance is under growing political pressure whether or not to back the government and ruling party's possible request to initiate the second anti-coronavirus emergency disaster relief fund to the public despite the nation's rapidly-worsening sovereign debt.

Lee Min-hyung | 2020-06-14 17:02

Celebrating 70th anniversary

Celebrating 70th anniversary

Bank of Korea (BOK) Governor Lee Ju-yeol delivers a speech at the BOK headquarters in Seoul, Friday, to celebrate the 70th anniversary of the founding of the central bank. He said the bank will maintain an accommodative monetary policy until the economy overcomes the difficulties caused by the COVID-19 pandemic and shows signs of recovery. / Courtesy of BOK

Park Jae-hyuk | 2020-06-12 16:38

BOK chief vows to keep policy loose until economy heals

BOK chief vows to keep policy loose until economy heals

"There is a need to keep monetary policy accommodative until we can project that the economy would heal from the coronavirus crisis," Bank of Korea (BOK) Governor Lee Ju-yeol said, according to an advance written copy of a speech prepared for the bank's 70th anniversary.

2020-06-12 11:05

Against housing market speculation

Against housing market speculation

Deputy Prime Minister and Finance Minister Hong Nam-ki speaks during a meeting at the Seoul Government Complex in Gwanghwamun, Thursday. Hong said that if there are any signs of apartment prices heating up, the government will take immediate countermeasures without delay. Yonhap

Lee Kyung-min | 2020-06-11 17:24

'It's not over until it's over'

'It's not over until it's over'

Huh Chang, economy and finance deputy minister for international affairs, stressed Thursday the importance of thorough containment measures amid recent signs of a new flare up of COVID-19 infections.

Lee Kyung-min | 2020-06-11 17:14

Fed's decision gives Bank of Korea more leeway

Fed's decision gives Bank of Korea more leeway

The Bank of Korea (BOK) has been given more leeway in its monetary policy after the U.S. Federal Reserve's decision to freeze the benchmark rate at near zero through 2022, economists said Thursday. The Fed did not display any willingness to slash the rate to negative territory, and instead, decided to keep the rate at a range of zero to 0.25 percent for more than two years.

Lee Min-hyung | 2020-06-11 16:58

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