Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
DGB Daegu Bank submitted an application seeking approval to convert into a commercial bank. Market observers say this is unlikely to alter the current oligopoly, controlled predominantly by five major commercial lenders. They are KB Kookmin, Shinhan, Hana, Woori, and NH NongHyup.
Binance, the top global cryptocurrency exchange by trading volume, is moving to sell off its stakes in Streami, the operator of GOPAX, one of the top five cryptocurrency exchanges in Korea, according to market watchers, Wednesday.
Woori Financial Group has officially declared its bid to acquire a brokerage, a move to fortify its non-banking sector and offset a significant dent in profit last year, market watchers said Wednesday.
A man in his 20s surnamed Kim remembers closing a government-assisted savings account. If held to term, it would have netted him 10 percent annual interest on his initial investment in just two years.
The financial authorities will conduct an on-site inspection of banks and brokerages in the days following Korea’s Lunar New Year holiday, market watchers said Sunday.
The Bank of Korea (BOK) is expected to keep the base interest rate unchanged this month, mindful of the so-called “last mile” risk, whereby premature monetary easing could disrupt the stable progression toward price stabilization, market watchers said, Thursday.
Young people born in 2000 and after will have to pay 40 percent of their lifetime income as tax, unless the current welfare-heavy fiscal spending is drastically reformed, according to a report by a noted economist, Wednesday. Their lifetime per capita tax payments will exceed 1.2 billion won ($898,000).
Local commercial banks are rushing to introduce foreign currency conversion fee waivers, in a move to lock in a greater number of outbound travelers amid heated market competition, market watchers said Wednesday.
Global oil prices are undergoing wild fluctuations, influenced by supply disruption concerns due to an escalating conflict in the Red Sea as well as rising demand from the stronger-than-expected growth of the U.S. economy and China’s economic stimulus packages.
KB Financial Group has established a set of environmental, social and corporate governance (ESG) standards for blind fund investments, an overarching principle applied throughout the stages of selecting, financing, managing and operation of an investment, the group said Tuesday. Blind funds initially raise cash for investment without a stated goal.