my timesThe Korea Times
lkm

Lee Kyung-min

Korea Times AI content 2 team Reporter

Value context and insight. lkm@koreatimes.co.kr

Go to EmailGo to URL

Read more

Economy

Record-low forex bond yields denote economic resilience

Ministry of Economy and Finance International Finance Bureau Director General Kim Seong-wook, left, speaks during a briefing at Sejong Government Complex, Tuesday. Courtesy of Ministry of Economy and FinanceEximbank Korea issues negative yield global bonds in euros By Lee Kyung-min A growing number of state-run and private organizations will be able to borrow foreign funds at a cheaper rate following solid demand for the recent government-issued dollar- and euro-denominated bonds with record-low yields, the finance ministry said Tuesday.The dual tranche issuance of $1.45 billion (1.7 trillion won) in foreign exchange stabilization fund bonds (forex bonds), Sept. 10, not only attests to foreign investors' high assessment of the Korean economy, but also helps increase the volume of foreign reserve, a key defense mechanism against foreign capital outflow brought on by external shocks due to the global financial market uncertainty. “The record-low yield on the two key foreign currency-denominated sovereign debt that serves as a benchmark for local state-run and private organizatio

Sep 15, 2020By Lee Kyung-min
Record-low forex bond yields denote economic resilience
Economy

Korea, Uzbek to begin trade negotiation this year

President Moon Jae-in and his Uzbek counterpart Shavkat Mirziyoyev, shake hands before holding a summit in the Oval Office in Tashkent, Uzbekistan, April 19 (local time). Korea Times fileBy Lee Kyung-min The government will begin trade negotiations with Uzbekistan this year, in the latest move to advance President Moon Jae-in's New Northern Policy initiative to improve ties with countries in Central Asia.Deputy Prime Minister and Finance Minister Hong Nam-ki said Monday that talks will begin this year upon completion of the necessary procedures including submitting a report to the National Assembly this month on the development of working-level bilateral agreements so far.“A joint feasibility study on Korea-Uzbek trade was concluded, July 6, followed by a public hearing July 31,” he said during a ministerial-level meeting at the Seoul Government Complex in Gwanghwamun. “The government will initiate trade talks to strengthen the country's foothold in a market with great growth potential.”The government expects tangible economic results from a partnership with U

Sep 14, 2020By Lee Kyung-min
Korea, Uzbek to begin trade negotiation this year
Economy

Eligibility controversy continues over 'adult entertainment facilities'

An owner of an “adult entertainment facility” holds a picket demanding the second emergency relief fund given to small- and medium-sized enterprises in front of the National Assembly in Yeouido, Seoul, Sept. 11. Korea Times fileBy Lee Kyung-min Controversy is continuing over the government's recently announced assistance package of at least 1.5 million won ($1,260) and up to 2 million won in emergency relief given to operators of small- and medium-sized businesses (SMEs) whose sales have plummeted due to Level 2.5 social distancing. At issue is the ambiguous eligibility guidelines concerning “adult entertainment facilities,” listed among 12 virus-hit designated facilities. The guidelines ban the facilities prone to infection outbreaks, including gyms, pubs, coffee shops and karaoke establishments, from hosting indoor activities after 9 p.m. or shuts them down outright.According to the second emergency relief fund that will require some 7 trillion won financed via the fourth extra budget bill, some 150,000 operators of small pubs or bars among the 12 facilities

Sep 14, 2020By Lee Kyung-min
Eligibility controversy continues over 'adult entertainment facilities'
  • Cram school owners oppose tighter restrictions
Economy

ABL Bio retains workers via strong employee stock option plan

ABL Bio CEO Lee Sang-hoonBy Lee Kyung-min ABL Bio, a Seongnam-based biotech research company, spends about 12 billion won ($10 million) a year to finance its employee stock option plan, a strategy intended to help the company grow and to ensure it retains skilled employees, according to industry sources Friday.The firm, which focuses on the development of therapeutic drugs for immuno-oncology and neurodegenerative disease, uses the plan as a part of its employee benefit scheme whereby workers are encouraged to own firm shares, thereby acquiring an ownership stake. Shares are given at a rate far cheaper than the market price, helping to motivate employees as the growth of the company will result in a share price hike.The firm began strengthening the plan in February 2017, less than a year after it was set up in 2016 by Lee Sang-hoon, the former head of the bio division at Hanwha Chemical. All workers received 21,000 ordinary shares each on Aug. 19, with a price of 33,720 won, as part of a 12 billion won plan this year. The firm spent 6.7 billion won in the first half.More than 1.69 mi

Sep 11, 2020By Lee Kyung-min
ABL Bio retains workers via strong employee stock option plan
Economy

Financial groups wrestle with union influence

Union members of KB Financial Group hold a press conference in front of the group's building in Seoul, Thursday. YonhapBy Lee Kyung-min Unions at state-run and commercial financial organizations are rushing to recommend outside directors to company boards, a move to gain a greater say in corporate management backed by the labor-friendly Moon Jae-in administration, according to industry sources Friday.Union members say a rise in representation is needed to promote “public good.” But experts say corporate efficiency will be undermined due to the deeper intervention of unions whose growing collective rights are increasingly used to protect the vested interests of those with the highest salaries and job security.Also fanning concern of a management-labor standoff is the ruling Democratic Party of Korea (DPK) leadership being filled recently with figures with extensive labor movement backgrounds. One employee of a stock ownership association comprised of a small group of unions under KB Financial Group said recently that it has recommended two figures with expertise in environ

Sep 11, 2020By Lee Kyung-min
Financial groups wrestle with union influence
Economy

Unclear eligibility for 2nd emergency relief fans concerns

A traditional market is seen nearly empty due to stricter social distancing guidelines in Seoul and the surrounding areas effective until Sept. 6. Yonhap'Tailored approach needed, not blanket assistance' By Lee Kyung-min Debate continues over the government's plan to help low-income earners hit hard by the COVID-19 pandemic for its alleged lack of clear eligibility guidelines on seeking up to 2 million won ($1,680) in cash-equivalent assistance. No easy, equitable-for-all rule is expected because not only decreases in sales volume or income, but also asset value should be factored in, complicating the process that has to find the best way to use about 7 trillion won in the fourth extra budget to be drafted to help those including ones suffering due to recently strengthened social distancing rules.Experts say the degree and extent of the virus-triggered economic hardship should be measured in the most accurate and socially agreeable way possible to limit repercussions. The ruling Democratic Party of Korea (DPK) and the government agreed that up to 2 million won in financial assistanc

Sep 9, 2020By Lee Kyung-min
Unclear eligibility for 2nd emergency relief fans concerns
Economy

Virus exacerbates job market woes

Sept. figure to worsen due to late-Aug. stricter social distancing By Lee Kyung-min The COVID-19 pandemic continued to trouble the Korean job market in August, illustrated by the monthly job loss extending for the sixth consecutive month, a record-long continuation since the period from January to August in 2009 in the aftermath of the global financial crisis. Temporary workers, day laborers and self-employed in the service, retail and wholesale industries felt the sharpest pinch, while the number of those on temporary leave, statistically considered employed, hit a six-year high, data from Statistics Korea showed, Wednesday. September is expected to see far worse figures brought on by the impact of stricter social distancing rules due to the Aug. 15 rally in Gwanghwamun, Seoul, the chief culprit for the second wave of infections in the metropolitan area. The data said the country lost 274,000 jobs in August, down 1 percent from the year before, continuing the virus-triggered loss that began in March. Lodgings and eateries lost 169,000 jobs, down 7.2 percent from a year ear

Sep 9, 2020By Lee Kyung-min
Virus exacerbates job market woes
Economy

Virus to take heavy toll on Korean economy

KDI fellow and Macroeconomic Analysis and Forecasting Director Jung Kyu-chul, right, and KDI associate fellow Cho Duk-sang give a press briefing at Sejong Government Complex, Tuesday. Courtesy of KDIKDI sharply lowers growth outlook to -1.1%, fiscal balance reports record-high deficitBy Lee Kyung-min The economy is expected to bear the full brunt of the recent flare-up of COVID-19 infections, as evidenced by continued downward revisions regarding growth, compounded by deteriorating fiscal soundness following four extra budgets drawn up for emergency relief.State-run think tanks, the central bank and financial institutes largely agree that the growth of Asia's fourth-largest economy will be blunted further by a sharper-than-expected downturn sustained by continued infections, for which there is no “silver bullet” unless a vaccine or treatment is developed for commercial use. The recent escalation of drawn-out U.S.-China trade and political feuds will add downward pressure to the export-reliant economy, a reason why fiscal and monetary policies should remain expansionary wh

Sep 8, 2020By Lee Kyung-min
Economy

Is IPO market all it's cracked up to be for retail investors?

By Lee Kyung-min The much-hyped subscription to win a share of Kakao Games, a mobile game and software developer subsidiary of Kakao Corp., has disappointed many retail investors, as only about 2 percent of those that put in at least 1 billion won ($840,000) received around 50 shares whose current value stands at only around 1.2 million won. The offered price was 24,000 won per share. Only one share was given to people that deposited 10.8 million won or more and about ten percent of the total, or 40,000 people, did not receive a single share. Investors that failed to get the number of shares they placed requests for had their money returned to their accounts.According to the financial investment industry, over 417,000 people sought the subscription, Sept. 2, jacking up the competition rate to a record-high 1,546 to 1. More than 58.5 trillion won was deposited with per capita investment averaging at 140 million won. They competed for 3.2 million shares, or 20 percent of the 16 million shares, 70.49 percent of which was assigned to institutional investors and the remaining 9.51 percent

Sep 6, 2020By Lee Kyung-min
Is IPO market all it's cracked up to be for retail investors?
Economy

EXCLUSIVE Korea's real estate policy 'counterproductive': OECD

OECD Economics Department Korea/Sweden Desk Christophe Andre / Courtesy of Christophe AndreGov't urged not to defy market principle of supply, demandBy Lee Kyung-min Placing a price cap on new apartments, the strictest regulation to curb real estate speculation, will fail to produce its intended outcome here unless preceded by efforts to remove excessive obstacles to supply, coupled with promoting competition among builders, according to a senior OECD economist.“One measure which may be counterproductive is the price cap on new apartments,” OECD Economics Department Korea/Sweden Desk Christophe Andre told The Korea Times in an email interview.The cap in his view risks hampering supply, and thus worsening tension on prices in the longer term. Instead, ensuring that there is enough competition between developers is the best way to prevent excessive increases in prices of newly built apartments.Developers may still enjoy windfall gains after a price hike of the land they own following regulation changes. And taxing such gains in a transparent manner, he noted, would be more

Sep 6, 2020By Lee Kyung-min
[EXCLUSIVE] Korea's real estate policy 'counterproductive': OECD
previous page
231232233234235
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.