Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Shares of Korea's major financial groups have slumped more than 10 percent over the past month, unsettled by concerns over a delay in the Corporate Value-up drive amid extended political turmoil surrounding President Yoon Suk Yeol’s botched martial law and the ensuing impeachment proceedings, market watchers said Wednesday.
The profitability of three leading local credit card firms will face challenging months of decline, strained by softening economic growth leading to lower transaction volumes, as dampening consumer sentiment shows no signs of immediate recovery, according to a Fitch Solutions-affiliated analyst. The three are KB Kookmin, Shinhan and Woori.
Wedding costs are rising by about 10 million won ($6,844) per year, a Hana Institute of Finance showed Sunday.
A growing number of investors are placing their money back into fixed-rate term deposit accounts, unsettled by the wild volatility in the broader financial and commodity markets, data showed Sunday.
Korea is one of the world’s most reliant countries in a highly globalized world of trade, which means stablecoins can help save costs, improve transactional efficiency and ultimately enhance economic performance, according to a crypto infrastructure expert.
Hana Financial Group Chairman Ham Young-joo said Wednesday that the group will continue to uphold its Corporate Value-up commitment, first unveiled in October, as he begins his second term.
The Bank of Korea (BOK) lowered this year’s growth forecast to 1.5 percent, Tuesday, down from the previous forecast of 1.9 percent amid the deepening economic downturn.
Woori Financial's move to acquire Tongyang Life and ABL Life has been facing greater scrutiny from the Financial Supervisory Service, complicated by the granting of billions of poorly screened loans under former Chairman Son Tae-seung a few years ago.
Korea has always been ahead of the curve when it comes to technology adoption. Pair that with a highly digitized economy and challenges with traditional investment opportunities?
The volume of state-funded financial assistance to low-credit borrowers plunged 1.5 trillion won ($1.04 billion) last year, constrained by a spike in the government's repayment of debt held by vulnerable borrowers, data showed Friday.