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Finance

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Fri, August 14, 2020 | 03:21

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

'Gov't won't allow real estate windfall'

'Gov't won't allow real estate windfall'

The government has vowed to crack down on windfall gains from home ownership under any circumstances, warning property speculators not to purchase apartments for investment, according to the nation's top economic policymaker Monday.

Kwak Yeon-soo | 2019-12-16 17:02

[INTERVIEW] Azerbaijan learning statistics from Korea

[INTERVIEW] Azerbaijan learning statistics from Korea

Korea's expertise in statistics has paved the way for the country to enhance its reputation in developing nations.

Park Jae-hyuk | 2019-12-15 17:57

Korea's AI workforce lags behind China, Japan

Korea's AI workforce lags behind China, Japan

Korea is lagging far behind China and Japan in competitiveness of the artificial intelligence (AI) workforce, as weak local research infrastructure is causing an outflow of AI experts here, a Seoul-based research institute said Sunday. According to a survey on 30 AI experts here, Korea's AI manpower competitiveness index came in at 5.2 on a 10-point scale. By placing the inde...

Lee Min-hyung | 2019-12-15 16:52

Banks advised to compensate up to 41% of 'KIKO' losses

Banks advised to compensate up to 41% of 'KIKO' losses

The Financial Supervisory Service (FSS) said Friday that banks should compensate local exporters for up to 41 percent of losses incurred from currency-linked financial derivatives options, which caused over 3 trillion won in losses to the firms at the time of the 2008 global financial crisis.

Kim Bo-eun | 2019-12-13 15:41

Female leaders in finance consolidate presence

Female leaders in finance consolidate presence

Despite the cold of December, executives and managers of banks and state-run financial institutions flocked to the Korea Federation of Banks headquarters in central Seoul at the break of dawn, Tuesday.

Kim Bo-eun | 2019-12-13 14:37

Third internet-only bank scheduled to be unveiled Sunday

Third internet-only bank scheduled to be unveiled Sunday

The Financial Services Commission (FSC) said Thursday that it began the screening process of the applications from two consortia for a license to open a third internet-only bank, yesterday.

Lee Kyung-min | 2019-12-12 18:42

Banks allowed to sell high-risk ELTs

Banks allowed to sell high-risk ELTs

Banks will be allowed to continue selling equity-linked trusts (ELTs) after the government decided Thursday to ease the regulations on high-risk, complex financial products it had announced on Nov. 14.

Park Jae-hyuk | 2019-12-12 16:28

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