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Finance

Economy

Sun, September 25, 2022 | 19:55

Government to encourage private sector to bring back overseas financial assets

The government is considering possible measures to encourage the private sector to bring back financial assets that are outside of Korea, worth over $700 billion in net value, as part of efforts to put the brakes on the Korean currency's sharp depreciation against the dollar.

Yi Whan-woo | 2022-09-25 16:51

Won-dollar rate feared to rise to 1,500 level by year-end

The Korean currency may sink as low as 1,500 won per dollar by the end of 2022, after it breached key psychological barriers repeatedly this year and plummeted below the 13-year low of 1,400 won, Thursday, according to analysts, Sunday.

Yi Whan-woo | 2022-09-25 16:50

Bank loan interest rates could reach 14-year high, raising household debt burden

With the U.S. Federal Reserve taking giant rate hike steps three consecutive times in a row, local banks' housing loan interest rates are fast approaching a 14-year high - by the end of the year - overshadowing the Korean economy's growth potential and looming large in regard to the household debt crisis.

Anna J. Park | 2022-09-25 15:41

Korea vows steps to stabilize bond market over growing volatility

Korea plans to take measures to stabilize the bond market if necessary as market volatility has grown over the U.S.' recent rate hikes, a senior finance ministry official said Friday.

2022-09-23 17:53

Seoul stocks crash to yearly low amid deepening recession fears

BOK, state pension fund to open currency swap line to ease dollar demand in market

Korea's central bank said Friday that it has agreed to open a dollar-for-won currency swap line with the state pension fund in a bid to ease demand for dollars in the domestic foreign exchange market and support the rapidly weakening local currency.

2022-09-23 17:20

Korea posts trade surplus of intellectual property right in H1

Korea posted a trade surplus of intellectual property rights (IPRs) in the first half of this year thanks to a rise in copyright payments amid popularity of Korean music and other cultural content, central bank data showed Friday.

2022-09-23 14:13

Producer prices drop in Aug. for 1st time in nearly 2 years

Korea's producer prices dropped for the first time in nearly two years in August as global crude oil prices fell amid recession woes, central bank data showed Friday.

2022-09-23 10:20

FSS probe found $7.22 bil. involved in abnormal overseas money transfers

Korea's financial regulator said Thursday that it has found around 10 trillion won ($7.22 billion) worth of dubious funds sent abroad via local banks in transactions suspected of being linked to cryptocurrency markets.

2022-09-22 17:58

Delinquency ratio on bank loans inches up in July

The delinquency ratio on loans extended by banks in Korea inched up in July from a month earlier, but it still had remained at a record-low level on the back of state supportive measures for virus-hit small merchants, the financial watchdog said Thursday.

2022-09-22 14:00

Capital outflows from Korea won't incur drastic foreign liquidity shortage: BOK

Korea is not likely to suffer a sudden shortage of foreign currency liquidity even in the case of massive capital outflows from domestic financial institutions over recent U.S. interest rate hikes, a central bank report showed Thursday.

2022-09-22 11:37

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