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Tue, September 25, 2018 | 14:02

Economy > Finance >

KB Financial Group posts record high earnings in first half

KB Financial Group posted nearly a 2 trillion won ($1.75 billion) net profit in the first half the year _ a record high since the financial group was established in 2008.

Finance | 2018-07-20 17:01

KOSPI coupling with Shanghai bourse amid trade war

The country's main KOSPI is decoupling from the U.S. bourse while coupling with the Chinese index amid an intensifying trade conflict between the two super powers. Global liquidity heading back to the United States as well as Korea's heavy dependence on China for exports are dragging down the KOSPI from further rises.

Finance | 2018-07-20 16:33

Shares of tour service firms ride high amid Summer vacation season

Shares of the nation's tour service firms have started enjoying an uptrend now that the summer vacation season is in full swing. The so-called “tour shares” have long suffered from a series of external factors, including the Chinese government's economic retaliation against Seoul's decision to deploy the U.S. Terminal High Altitude Area Defense (THAAD) battery here, but market analysts said they have managed to post solid sales despite unfavorable factors, recommending a “buy” rating on them.

Finance | 2018-07-19 18:35

Credit card firms, insurers hit by minimum wage hike

The steep minimum wage hike is adding to concern of insurance companies and credit card firms. While insurers will have to pay more insurance benefits following the rising minimum wage, credit card firms are being pressured to lower commissions to share the burden with small merchants.

Finance | 2018-07-17 17:11

Shares of convenience stores hit by minimum wage hike

Shares of convenience store operators have taken a hit from a recent 10.9-percent minimum wage hike planned for next year as store owners will have to pay workers at least 8,350 won ($7.40) per hour, compared to this year's 7,530 won. The rising labor costs will continue to weigh down on 24-hour retailers, making it more difficult for convenience stores to generate profits, a...

Finance | 2018-07-17 16:53

Staff chopped: Fast-food franchises resort to machine orders

Franchises are using so-called self-order kiosks to cut down on labor costs. KFC, McDonald's, Lotteria and other fast-food chains in Korea have installed the machines to replace order-taking staff.

Finance | 2018-07-17 15:04

Mirae Asset's 'consumer funds' boast high returns

Mirae Asset Global Investments' consumer equity funds are boasting high returns despite sluggish stock markets at home and abroad. According to Mirae Asset Global Investments, Monday, the Mirae Asset Chindia Consumer Fund posted a 25.74 percent earning rate over the past year as of June 28. Investing in growth stocks in China and India, the fund also enjoyed a 51.27 percent in earnings in the three-year term and a 129.38 percent return rate in the five-year term.

Finance | 2018-07-16 19:02

Korea Post hit for hiring 'unqualified' investment officer

Korea Post's newly appointed chief investment officer (CIO) has drawn criticism from union workers who claim he is not qualified to lead the savings bureau of the national postal agency. Given Chang Ha-sung, the presidential chief of staff for policy, has already been blasted for his alleged interference in the appointment of the National Pension Service CIO, the administrati...

Finance | 2018-07-16 16:08

K-Bank faces life-or-death crisis

K-Bank has raised only 30 billion won ($26.7 million) by issuing stock, falling well short of its 150 billion won target. The nation's first internet-only lender expected existing shareholders to buy new shares in proportion to their ownership percentages to secure funds necessary for expansion, but failed because of differences among shareholders.

Finance | 2018-07-15 16:36

Analysts upbeat about new Hyosung affiliates

The new companies that spun off from Hyosung went in different directions on the day they debuted on the stock market. Analysts are mostly positive about them since each has a competitive edge in their respective businesses.

Finance | 2018-07-13 17:17

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Inter-Korean Summit in Pyongyang