Korea Times Politics & City Reporter
Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Kiwoom Securities's risk management ability is being questioned once again as the brokerage, which has the largest share of the online trading market, has been hit with huge outstanding receivables due to a trading suspension of a manipulated stock, according to industry officials, Sunday.
The Financial Supervisory Service (FSS) will be completing the recruitment of a maximum of 25 experienced lawyers and accountants by the end of this month, which is the most extensive recruitment drive carried out by the state-run supervisory agency at any one time to hire in-house professionals.
Nearly 60 percent of accounting managers at Korean businesses support the need to adopt mandatory ESG disclosures in line with the global trend, according to a recent survey. But only 13 percent of the respondents said their companies have completed relevant preparations.
Korea is forecast to grow into the world's seventh-largest economy by 2040, with per capita gross domestic product (GDP) expected to surpass $70,000, according to the head of McKinsey & Company in Korea on Thursday.
Korea Investment & Securities CEO Jung Il-mun is slated to attend an audit at the National Assembly as a witness next week. Jung is expected to be grilled during his appearance at the audit session, as his firm is embroiled in allegations of unfair trade practices and technology theft against a startup company.
Korea ranked 17th in this year's Global Remote Work Index (GRWI), an index evaluating countries for their remote work environment.
Former presidential policy chief Byeon Yang-kyoon, 74, who earned the trust of the late President Roh Moo-hyun, to the extent that he was called "the man of Roh," has recently published his memoir.
Financial Supervisory Service (FSS) Governor Lee Bok-hyun has vowed to push for heavier punishment for illegal short selling practices conducted by some global investment banks in Korea. Lee said he finds it problematic that some foreign institutional investors routinely engage in naked short selling, despite knowing such practices are illegal.
Insurance companies offering only pet insurance plans will now be allowed to enter the local market. Pets may soon be officially registered through their nose wrinkles or iris data. A convenient one-stop system, allowing pet owners to complete every step of the procedure ― from signing up for veterinary hospitals to claiming hospital expenses with insurers ― on a single platform, could be possible as early as next summer.
As the country's five-year-limited law on corporate debt restructuring or workout expired on Monday, the Financial Services Commission (FSC), the top financial regulator, has vowed to respond to the legislative vacuum with voluntary agreements between debt-lending financial institutions and money-borrowing corporations to minimize potential confusion in the market. The financial authority has also vowed to closely cooperate with the Assembly for the re-legislation of the law as soon as possible.