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Finance

Thu, October 28, 2021 | 08:41

Watchdogs' intervention on Citibank Korea comes under fire

The country's financial watchdogs are coming under fire for their moves to actively intervene in the process of Citibank Korea's phased shutdown of its retail banking operation.

Lee Min-hyung | 2021-10-27 16:56

S&P defends Citibank Korea from skeptical local agencies

[INTERVIEW] Statistics Korea to bolster integrated, efficient use of public data

Korea will establish an advanced, cloud-based statistics system whereby closer integration and secure management of public data will be efficiently used for effective and timely policymaking, the head of the statistics agency said in a recent interview with The Korea Times.

Lee Kyung-min | 2021-10-27 16:05

S&P defends Citibank Korea from skeptical local agencies

S&P Global Ratings has sided with Citibank Korea against Korea Investors Service (KIS), Korea Ratings (KR) and NICE Investors Service, all of which expressed skepticism over the U.S. bank's operation in Korea, after Monday's announcement of its decision for a phased closure of its consumer banking unit here without selling it.

Park Jae-hyuk | 2021-10-27 16:01

Watchdogs' intervention on Citibank Korea comes under fire

Shinhan Bank opens inside GS25

Shinhan Bank CEO Jin Ok-dong, right, talks with GS Retail Vice Chairman Huh Yeon-soo, left, and Gangwon Province Governor Choi Moon-soon on the bank's “metaverse” platform, Tuesday, as the bank opened its branch inside a GS25 convenience store in Jeongseon, Gangwon Province, to improve access to financial services. Courtesy of Shinhan Bank

Park Jae-hyuk | 2021-10-27 10:55

Gov't to take 'all possible' steps to stabilize housing market

South Korea will take "all possible" measures to stabilize the real estate market as it sees the pace of home price growth slowing down, the finance ministry said Wednesday.

2021-10-27 10:49

JB Financial Group posts record net profit until Q3

JB Financial Group logged a quarterly net profit of 134 billion won ($114 million) in the third quarter, which is a 21.9-percent increase from the same period last year.

Anna J. Park | 2021-10-26 19:50

Korea less likely to post 4% GDP growth

Korea is feared to miss its GDP growth target of 4 percent this year, data showed Tuesday, due to a pandemic-sparked slowdown in private consumption and escalating uncertainties surrounding global supply bottlenecks.

Lee Min-hyung | 2021-10-26 17:05

Early enforcement of strict lending rules raises concerns

Concerns have emerged over the government's announcement on Tuesday that tightened lending rules will take effect six months earlier than initially planned. The forthcoming regulations are intended to prevent the nation's snowballing level of household debt from dealing a blow to the domestic economy, but borrowers and financial experts have criticized the plan especially for...

Park Jae-hyuk | 2021-10-26 16:35

Gap between rich and poor widens during pandemic

The gap between the rich and poor has widened precipitously during the COVID-19 pandemic. While the poor are being pushed closer to the edge, the value of assets owned by the rich has soared during the same period.

Anna J. Park | 2021-10-26 15:43

Korea's yearly trade volume tops $1 trillion at fastest pace ever

South Korea's trade volume for this year surpassed the $1 trillion mark Tuesday on the back of solid export growth amid the global recovery from the pandemic, reaching the milestone at the fastest pace ever, the trade ministry said.

2021-10-26 15:09

Korea's economy grows estimated 0.3% on-quarter in Q3

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