Business - The Korea Times

66% of young Koreans dependent on parents

Kim Young-joon, 30, says he increasingly bickers with his parents over minor issues, as the years go by. Despite obtaining a master’s degree, he turned down multiple job offers because he felt they didn't match his educational level, leaving him without employment since then.

Jun 6, 2024By Yi Whan-woo

66% of young Koreans dependent on parents

Hana Financial Group launches 18th team of young ambassadors

Hana Financial Group announced that it held the launching ceremony of its 18th team of SMART ambassadors, an honorary ambassadors program of the group for college students.

Jun 6, 2024By Yoon Ja-young

Hana Financial Group launches 18th team of young ambassadors

Financial firms risk $1.7 bil. loss in overseas real estate investments

A total of 2.4 trillion won ($1.7 billion) invested in overseas real estate by domestic financial institutions faces the risk of default due to the market downturn in the U.S. and Europe. The growth in potential bad debts, however, has slowed compared to the previous year.

Jun 5, 2024By Lee Yeon-woo

Financial firms risk $1.7 bil. loss in overseas real estate investments

Korea surpasses Japan in GNI per capita for 1st time: BOK

Korea overtook Japan for the first time in gross national income (GNI) per capita last year, driven by the weakening yen that dropped to its lowest level in more than 30 years, according to Bank of Korea (BOK) data Wednesday.

Jun 5, 2024By Yi Whan-woo

Korea surpasses Japan in GNI per capita for 1st time: BOK

Insurance fraud rises for 5th straight year due to lax punishments

Fraudulent insurance claims rose for the fifth straight year in 2023 as more than 90 percent of scammers serve a jail term of less than three years and experience relatively mild punishments, the Financial Supervisory Service (FSS) said Wednesday.

Jun 5, 2024By Yi Whan-woo

Insurance fraud rises for 5th straight year due to lax punishments

Virtual asset-related fraud targeting older adults on rise

Customs agency hosts promotional campaign for Korean food at Incheon airport

INCHEON — Leo, a Swiss tourist, said she was glad to see a promotional booth of Korean food at Incheon International Airport, Tuesday, as she could bring back home some of the foods she enjoyed during her two weeks of travel in Korea.

Jun 4, 2024By Yi Whan-woo

Customs agency hosts promotional campaign for Korean food at Incheon airport

Savings banks' future depends on parent company backing as delinquencies soar

Suffering from soaring delinquency rates on real estate project financing (PF), savings banks are facing varied futures depending on the support capacities of their parent companies, according to experts.

Jun 4, 2024By Lee Yeon-woo

Savings banks' future depends on parent company backing as delinquencies soar

Hana's Travlog tops 5 mil. subscribers

Hana Financial Group announced on Tuesday that it had drawn over 5 million subscribers for Travlog, a mobile currency exchange service that cumulatively saved customers over 100 billion won (approximately $73 million) in fees.

Jun 4, 2024By Lee Yeon-woo

Gov't offers $360 mil. in credit guarantees to propel SME growth

Up to 500 billion won ($363.3 million) in credit guarantees will be made available by the government for promising small- and medium-sized enterprises (SMEs) involved in strategic technologies related to materials, parts, and equipment. The Ministry of Economy and Finance revealed on Monday that tailored support will be extended to these enterprises, aiming to facilitate their growth and enhance their contribution to Korea's sustained economic development.

Jun 3, 2024By Yi Whan-woo

Gov't offers $360 mil. in credit guarantees to propel SME growth

BC Card QR payment in Malaysia

BC Card Korea CEO Choi Won-seok, right, poses with Payments Network Malaysia (PayNet) CEO Farhan Ahmad, left, and Korea’s Ambassador to Malaysia Yeo Seung-bae, center, at the launching ceremony for the card company’s QR payment service in Malaysia, Thursday. The service is made available through PayNet, which operates under the Malaysian central bank. Courtesy of BC Card Korea

Jun 3, 2024By Yoon Ja-young

Banking & Finance