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Mon, January 18, 2021 | 16:36

Korea demonstrates new partnership model to deal with COVID-19

Korea has demonstrated a new partnership model in tackling the global challenges created by the COVID-19 pandemic by enhancing the collaboration between the government and businesses in an agile manner, according to McKinsey & Company Global Managing Partner Kevin Sneader, Thursday. The chief of the world's top consulting firm expects that this new, unprecedented private-publ...

Economy | 2020-05-28 16:54

'COVID-19 accelerating arrival of Asian Century'

Public-private partnership enabled Korea's COVID-19 response

Korea drew global attention after the government, in collaboration with the private sector, managed to quickly set up testing facilities and contact tracing methods, and effectively curbed the spread of the COVID-19 coronavirus. Global consulting firm McKinsey & Company credits the success to this efficient public-private partnership.

Economy | 2020-05-28 16:51

'COVID-19 accelerating arrival of Asian Century'

ABL Life promotes life insurance policy covering illness

ABL Life Insurance is promoting a life insurance policy that covers both cancer and severe dementia.

Non-banks | 2020-05-27 15:19

Samsung Life tarnished by misconduct

The country's No. 1 life insurer's reputation has been marred by a series of “misconducts,” including refusal to comply with orders by the financial authorities to make payments to claimants. Samsung Life Insurance has also been found to have continued to entrust its investments to its affiliate Samsung Asset Management despite the latter's poor achievements.

Non-banks | 2020-05-26 09:49

Banks seeking to minimize fallout from Lime, DLF

The launch of a "bad bank" that will take over the troubled Lime Asset Management's funds will likely be delayed, as the financial firms tasked with setting it up have yet to reach an agreement over which entity will become the largest shareholder. A bad bank is a corporate structure set up to buy poorly performing assets from another financial institution.

Non-banks | 2020-05-25 16:48

Hyundai Card offers personalized spending insights

Hyundai Card said Monday it is offering personalized spending insights, based on the newest feature added to Hyundai Card's smartphone app.

Non-banks | 2020-05-25 16:47

Brokerages' overseas earnings hit by COVID-19

Korea's major securities firms saw earnings from overseas subsidiaries switch to a deficit in the first quarter of this year amid global market volatilities triggered by COVID-19. Korea Investment & Securities saw its overseas income plunge to a net loss of 55.64 billion won, from a net profit of 34.71 billion won a year earlier.

Non-banks | 2020-05-25 16:11

Reshoring a double-edged sword for Korea

The government should take a more cautious approach in its drive to bring manufacturing back home, known as its reshoring initiative, as it can be a double-edged sword for the Korean economy which relies heavily on exports, experts said, Sunday.

Economy | 2020-05-24 16:47

SC offers benefits for new customers

Customers opening an account with Standard Chartered (SC) Bank Korea offering an annual interest rate of 0.6 percent will be provided up to 2 million won in gift certificates when they keep the stated amount of funds in the account.

Banks | 2020-05-24 16:14

'There is still a lot of pain ahead'

The stock market is widely considered a leading indicator of what's going to happen in the economy but the discrepancies in recent months between stocks and indices for the real economy around the world have baffled investors.

Economy | 2020-05-22 09:37

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