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Finance

Thu, December 3, 2020 | 17:15

Korea braces for drastic shift in US economic polices

Korea braces for drastic shift in US economic polices

Korea should prepare for a drastic shift in U.S. economic policies as President-elect Joe Biden is set to reverse many of the Trump administration's policies by employing more stimulus, tougher regulations and large tax increases, according to experts. They believe that the presidency of Biden, who has vowed to pursue stricter rules to control big tech firms and to fight clim...

2020-12-03 16:37

Genome & Company awaits upcoming listing at KOSDAQ

Genome & Company awaits upcoming listing at KOSDAQ

Ahead of its initial public offering (IPO) at heavy-tech KOSDAQ later this year, Genome & Company laid out the biotech firm's various business models and future visions centering on its microbiome-based immuno-oncology expertise at its IR event on Thursday.

Anna J. Park | 2020-12-03 16:35

Foreigners granted equal housing tax incentive

Foreigners granted equal housing tax incentive

Foreigners with income earned in Korea will be able to seek greater deductions for monthly interest paid on mortgages, a measure that will help reduce housing costs for long-term residents and their families, a ruling party lawmaker said Thursday.

2020-12-03 16:35

Strongest won in 30 months

Strongest won in 30 months

An employee stands in front of a monitor set up in the dealing room of the headquarters of Hana Bank, Thursday. The won-dollar exchange rate ended at 1,097 won Thursday, down 3.8 won from the previous day's trading. This is the lowest level in two-and-a-half years since June 15, 2018, as the won strengthens against the dollar amid market expectations on the U.S. government's ...

Anna J. Park | 2020-12-03 16:35

Korea's currency surges to 30-month high

Korea's currency surges to 30-month high

South Korea's won currency surged to a 30-month high against the U.S. dollar Thursday and broke a key psychological level, buoyed by optimism over U.S. stimulus talks and developments of coronavirus vaccines. The won was quoted at 1,097.00 won per U.S. dollar at Thursday's closing, up 3.8 won from the previous session's close. It was the strongest level since June 14, 2018, w...

2020-12-03 16:30

Toss operator in hot seat for partnership with police

Toss operator in hot seat for partnership with police

Viva Republica, the operator of mobile money transfer app Toss, has come under fire on social media for its latest partnership with the National Police Agency formed to prevent online fraud.

2020-12-03 16:22

Ex-lawmaker to lead life insurance association

Ex-lawmaker to lead life insurance association

Jeong Hee-soo, president of Korea Insurance Institute, will start his three-year term as chairman of the Korea Life Insurance Association (KLIA) next week amid hopes that he can enhance communication with financial authorities to cope with growing uncertainties in the local insurance industry.

2020-12-03 15:12

Major banks' home rental loans grow at record pace this year

Major banks' home rental loans grow at record pace this year

Major banks in South Korea saw their "jeonse" home rental loans increase at a record pace this year amid soaring jeonse rates, industry data showed Thursday. Outstanding jeonse loans extended by the country's five major lenders - KB Kookmin, Shinhan, Hana, Woori and NH Nonghyup - came to 103.3 trillion won (US$94 billion) as of end-November, up nearly 23 trillion won from las...

2020-12-03 09:30

Koreans feel pinch of rising housing costs amid economic downturn

Seoul stocks set another record high; Korean won surges

Seoul stocks set another record high; Korean won surges

South Korean stocks hit another all-time high Wednesday for the second consecutive session on the back of optimism surrounding COVID-19 vaccines and U.S. stimulus. The Korean won sharply rose to an over 29-month high against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 41.65 points, or 1.58 percent, to close at 2,675.9.

2020-12-02 17:28

'Too early to talk about economic recovery'

'Too early to talk about economic recovery'

Consumer prices jumped 0.6 percent in November, the second consecutive month of an increase below 1 percent, increasing concerns that the COVID-19 pandemic-triggered slowdown in local demand will not recover any time soon.

2020-12-02 16:52

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