Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
A record number of Koreans claimed early payouts from the National Pension Service (NPS) last year, constrained by a lack of income source after retirement, data from the state-run pension fund showed Monday.
Scorching summer heat-induced price hikes of fresh food and agricultural produce are expected to accelerate heatflation, a portmanteau of heat and inflation, market watchers said Thursday.
Woori Financial Group's acquisitions of Tongyang Life and ABL Life are expected to proceed without difficulty, underpinned by recent bankruptcy of China’s Anbang Insurance, market watchers said Thursday.
Retail investors in Korea can now have their proceeds from the sale of U.S. stocks credited the following business day, aligning with the U.S. settlement cycle shortened in late May, Citibank Korea said Wednesday.
The Korean stock market is likely to experience greater-than-expected volatility, rattled by the global unwinding of both yen carry trades and long positions in U.S. artificial intelligence (AI) shares, market watchers said Tuesday.
The Korea Composite Stock Price Index (KOSPI) tumbled 8.77 percent from the previous session to close at 2,441.55 points, Monday, the steepest decline in closing price to date. The tech-heavy Kosdaq ended at 691.28 points, down 11.3 percent.
Major commercial lenders are trimming deposit rates while hiking borrowing rates, in what market participants say is a "self-serving" excuse to boost their interest income at the expense of borrowers.
Expectations for the Bank of Korea (BOK) to lower its key rate in October are growing, reaffirmed by the dovish stance of the U.S. Federal Reserve on September easing, market watchers said Thursday.
Woori Bank's Euljiro branch, one of the oldest in the bank's over seven-decade history, will undergo a major renovation through 2030 to transform into a 19-story financial center for its holding firm Woori Financial Group, the lender said Wednesday.