Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
The popularity of affordable Christmas decorations and festive foods is on the rise, driven by a growing number of consumers opting for budget-friendly alternatives to more extravagant choices, market watchers said Monday.
The Korean economy is expected to grow 2.1 percent this year, down from the previous forecast of 2.2 percent, scarred by President Yoon Suk Yeol's botched attempt to declare martial law, the country’s top monetary policymaker said Wednesday.Underpinning the pessimism are rapidly weakening consumer confidence and economic indicators despite weak growth in exports remaining within expectations.The country’s creditworthiness should be robust, provided the opposition-controlled National Assembly reaches a bipartisan agreement on the budget and economy-related bills followed by swift government implementation, in a demonstration of full functioning of the economic dynamics separate from political developments, according to Bank of Korea (BOK) Gov. Rhee Chang-yong.Signs of weakness in the economy can be countered by a limited-scope stimulus package, with a policy focus on a targeted assistance for the most vulnerable group of income earners and businesses.
Woori Financial Group is fortifying efforts to contain the fallout of the short-lived martial law order here, reassuring offshore investors of the group’s soundness in liquidity, assets and key financial indicators, it said Tuesday. Included were the Government of Singapore Investment Corp. and Abu Dhabi Investment Authority, sovereign wealth funds of Singapore and the United Arab Emirates.
A recommendation committee under the Hana Financial Group shortlisted Hana Card CEO Lee Ho-seoung as the sole candidate to head Hana Bank, the group said Friday. Lee will replace current Hana Bank CEO Lee Seung-lyul, who did not seek a second term so he could focus on his role as the group’s vice chairman.
Import prices jumped for the second consecutive month through November, triggered by a rapid weakening of the Korean currency against the U.S. dollar, Bank of Korea (BOK) data showed Friday.
Prime Minister Han Duck-soo and Justice Minister Park Sung-jae said Wednesday they regret having failed to prevent President Yoon Suk Yeol from declaring martial law last week, stressing that no one agreed with Yoon's idea at the Cabinet meeting held just minutes before he made the declaration.
Mirae Asset Global Investments registered over 200 trillion won ($139 billion) in its global exchange-traded fund (ETF) assets under management, a feat achieved only three years after the figure topped 100 trillion won in 2021, the capital market subsidiary of Mirae Asset Financial Group said Wednesday.
Institutional investors have increased their holdings in the local stock market over the past four sessions, picking up shares dumped by retail investors' panic-triggered selloffs, data showed Tuesday.