Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Troubled mid-sized builder Taeyoung Engineering & Construction (E&C) agreed to lay off 22 senior executives and cut salaries by up to 35 percent for the remaining ones, as part of self-rescue efforts to facilitate a corporate debt workout program, according to the firm’s main creditor, Friday.
The prices of foods and daily necessities are surging rapidly, propelled by volatility of global commodity prices and the plunging Korean won.
The 13 countries are Vietnam, the Philippines, Indonesia, Cambodia, Sri Lanka, Bangladesh, Mongolia, Laos, India, Uzbekistan, Tanzania, Ghana and Colombia.
The Bank of Korea (BOK) should be able to cut key rates in the latter half, reassured by inflation gradually tracking down to the central bank's target of 2 percent, according to an outgoing member of the BOK monetary policy board, Tuesday.
Hana is the only local commercial lender to have opened a branch there in 2001 when the airport began operation.
The local stock market underwent a wild fluctuation, Monday, rattled by fears of an Iran-Israel conflict and dashed optimism of an earlier-than-expected rate cut by the U.S. Federal Reserve.
A greater number of exporters will be able to find both private- and publicly run business partners, as matched by strengthened demonstrations of innovative products overseas as well as integrated overseas development assistance (ODA) projects, according to Public Procurement Service (PPS) Administrator Lim Ki-keun.
Hotel Shilla CEO Lee Boo-jin, the daughter of late former Samsung Group Chairman Lee Kun-hee, is seeking to sell over 5.2 million Samsung Electronics shares in an after-hours block deal, according to market sources, Tuesday. The 447 billion won ($330 million) to be cashed will be used to pay part of the inheritance tax total of 12 trillion won levied on the family, which will be paid in five yearly installments throughout next year.
An increasing number of former Industrial Bank of Korea CEOs are becoming board members of financial firms based on their decades of experience, expertise in the field of finances and deep understanding of government policymaking, according to market watchers, Tuesday.