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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.

Internet-only banks, foreign lenders join push to tighten mortgage loans

Internet-only banks, foreign lenders and the state-owned Industrial Bank of Korea (IBK) are joining major financial institutions in tightening their mortgage loan policies. This move follows instructions from financial authorities aimed at addressing the rapid growth of household debt.

Sep 4, 2024By Jun Ji-hye
Internet-only banks, foreign lenders join push to tighten mortgage loans
  • Winning housing lottery in Korea is life-changing. Here's why.
  • Koreans still anticipate housing prices to increase despite rising loan rates
  • Financial stability takes priority as household debt rises and inflation slows
  • BOK chief defends rate freeze aimed at curbing household debt

Government struggles to pay back $670 bil. of national debt

The national debt that the government cannot afford to repay with its current financial resources, and will therefore need to rely entirely on taxpayers’ money in the future, is expected to approach nearly 900 trillion won ($670.44 billion) next year, according to the government, Wednesday.

Sep 4, 2024By Yi Whan-woo
Government struggles to pay back $670 bil. of national debt

Financial crimes cause W100 bil. in damage to agricultural, livestock federations

Korea’s two largest federations representing the business and policy interests of individuals and enterprises in the agriculture and livestock industries have suffered over 100 billion won ($74.49 million) in damages due to financial crimes over the past five years, according to data, Tuesday.

Sep 3, 2024By Yi Whan-woo
Financial crimes cause W100 bil. in damage to agricultural, livestock federations

Lowest inflation in 41 months adds pressure on BOK to cut rate

Consumer inflation in Korea has dropped to its lowest level in nearly three and a half years, increasing pressure on the Bank of Korea (BOK) to begin reducing its benchmark interest rate.

Sep 3, 2024By Yi Whan-woo
Lowest inflation in 41 months adds pressure on BOK to cut rate

INTERVIEW What do Toss Bank, Patagonia, Nespresso have in common?

Kim Dong-yeon, communications manager at Toss Bank, led a project to acquire B Corp Certification, a global recognition awarded to companies that have made a demonstrable contribution toward building a sustainable society.

Sep 3, 2024By Jun Ji-hye
[INTERVIEW] What do Toss Bank, Patagonia, Nespresso have in common?

Hyundai Motor's Aug. sales down 5.3% as exports fall

Hyundai Motor, Korea's leading carmaker, said Monday its August sales slipped 5.3 percent from last year as exports declined.

Sep 2, 2024By Yonhap
Hyundai Motor's Aug. sales down 5.3% as exports fall

Insurance firms' H1 net grows 2.8%

Insurance companies in Korea posted a slight growth in their net profit in the first six months of the year from a year earlier but solely on a rise in the income of non-life insurers, data showed Monday.

Sep 2, 2024By Yonhap
Insurance firms' H1 net grows 2.8%

KEPCO's reissuance of bonds feared to impact debt market

Korea Electric Power Corp. (KEPCO) is issuing bonds again following a nine-month hiatus, prompting speculation that it may hinder the efforts of private companies to raise money in the debt market.

Aug 31, 2024By Yi Whan-woo
KEPCO's reissuance of bonds feared to impact debt market

New hiring at banks narrows down to half

The country’s four largest commercial banks — KB Kookmin, Shinhan, Hana and Woori — cut down the number of new jobs by nearly half from a year earlier in the first six months of 2024, data showed, Friday.

Aug 30, 2024By Yi Whan-woo
New hiring at banks narrows down to half

Kbank's IPO push gains momentum from record H1 earnings

Securities companies and industry experts are expressing optimism that Kbank, which achieved record-breaking earnings in the first half of this year, will successfully complete its second attempt to list on the country’s main KOSPI exchange.

Aug 29, 2024By Jun Ji-hye
Kbank's IPO push gains momentum from record H1 earnings
  • K bank names digital expert as new CEO
  • Partnership between K bank and Kiwoom Securities
  • Kbank’s second IPO push hits unexpected snags
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