Korea Times Finance Reporter
Hello, I am Jun Ji-hye, a reporter at The Korea Times. I primarily cover financial authorities and write articles on a wide range of topics related to finance and capital markets. If you have any information to share, feel free to email me at jjh@koreatimes.co.kr, and I will review it carefully. I am committed to always doing my best to communicate with readers through high-quality articles.
Combined household loans from the five major banks surged by more than 3.6 trillion won ($2.6 billion) this month despite financial authorities’ ongoing efforts to curb the growth of household debt, according to industry officials, Sunday.
Non-life insurers have been rushing to release products for virtual asset service providers ahead of the introduction of the Virtual Asset Users Protection Act, set to take effect on Friday.
Kim Byoung-hwan, the nominee to head the Financial Services Commission (FSC), Korea’s top financial regulator, has vowed to monitor the growth of household loans and more actively manage the loans amid growing concerns that such debts are putting pressure on the country’s economy.
It takes 11.5 months on average for young people aged between 15 and 29 to get a job after graduation, data from Statistics Korea showed, Tuesday.
Shinhan Bank CEO Jung Sang-hyuk said the firm’s continued growth in the global market should be backed up by “firm trust” with customers.
Nearly one million individuals and companies in Korea reported closing their businesses last year, with weak earnings being the most common reason for the shutdowns, data from the National Tax Service (NTS) showed, Monday.
Apple has decided to open its tap-and-go mobile payments system to rivals in Europe, which will give iPhone users more choices beyond Apple Pay, such as Samsung Wallet and Google Pay, according to EU antitrust regulator, Thursday (local time).
Credit cards are an everyday life in the digital era, but the insurance industry lags behind as most insurance firms do not accept credit card payments, citing high credit card fees as a reason.
Korea’s economic growth has resumed after overcoming a temporary slowdown caused by high global prices and sluggish exports following the end of the COVID-19 pandemic, the Organization for Economic Cooperation and Development (OECD) said, Thursday.
The ancient city of Gyeongju, which was the capital of the Silla Dynasty (57 B.C. – A.D. 935), has secured an opportunity to introduce its rich cultural assets to the world and enjoy immense economic effects approaching 2 trillion won ($1.45 billion), as it is set to host the Asia-Pacific Economic Cooperation (APEC) summit in November next year.