Business - The Korea Times

Athletes celebrate 40th anniversary of Kyobo Life Cup Youth Athletic Competition

"Sports teach us the spirit of fair play, which is about doing one's best without cheating, a sense of community where one prioritizes the team over the individual, respect for all participants including opponents, teammates and coaches and perseverance that makes one continue to challenge with patience despite difficulties," Kyobo Life Insurance CEO and Chairman Shin Chang-jae said at the Homecoming Day for the athletes, held at the Four Seasons Hotel in downtown Seoul, Tuesday. The life insurer has been sponsoring the event for 40 years.

Apr 16, 2024By Yoon Ja-young

Athletes celebrate 40th anniversary of Kyobo Life Cup Youth Athletic Competition

CONTRIBUTION Korea Public Procurement Expo 2024 to become steppingstone for SMEs

Under the slogan “Powerfully, Quickly K-procurement! Beyond Korea to the world,” Korea Public Procurement Expo 2024 is set to be held at KINTEX in Goyang, Gyeonggi Province, from Wednesday to Friday. Since its inception in 2000, this year marks the 24th anniversary of the expo. It is the only domestic event in the public procurement sector, which has shown continuous growth and broken records in terms of participating companies, visitors and export performance. Participating companies are promising small and medium-sized enterprises (SMEs) actively supplying the public procurement market, which represent 97 percent of Korea's manufacturing firms, vital to the Korean economy.

Apr 16, 2024By Baek Seung-bo

[CONTRIBUTION] Korea Public Procurement Expo 2024 to become steppingstone for SMEs

Gold banking accounts shine as price of precious metal soars

A growing number of bank clients are investing in gold using a deposit account that allows them to buy and sell the precious metal, whose price is surging due to heightened geopolitical risks and an increasing preference for safe haven assets.

Apr 16, 2024By Yi Whan-woo

Gold banking accounts shine as price of precious metal soars

JB Financial Group chairman bolsters share value with more stock purchases

JB Financial Group Chairman Kim Ki-hong and seven other key members of the management team recently purchased more of the group's shares using their own money, aiming to reinforce shareholder value and demonstrate their strong belief in the company's earnings trajectory, the financial group announced Tuesday.

Apr 16, 2024By Anna J. Park

JB Financial Group chairman bolsters share value with more stock purchases

Samsung, KB team up for financial 'super app'

Samsung Financial Networks, a joint brand of Samsung's financial affiliates, has partnered with KB Kookmin Bank to attract more users to its mobile app, Monimo. The market anticipates a significant impact from this collaboration between Samsung, a leader in the non-banking finance sector, and KB, the top-ranking bank in Korea.

Apr 14, 2024By Lee Yeon-woo

Samsung, KB team up for financial 'super app'

BOK to keep current key rate longer than expected amid sticky inflation

Bank of Korea (BOK) Governor Rhee Chang-yong said Friday that the BOK will sustain its restrictive monetary policy, putting aside the widely held expectations that the central bank may begin cutting the rate in the second half of the year.

Apr 12, 2024By Yi Whan-woo

BOK to keep current key rate longer than expected amid sticky inflation

1,000-won bakeries become popular amid high inflation

Freshly baked bread, cake, pastries and other treats are increasingly sold at the very affordable price of just 1,000 won ($0.73) at vendor stalls and stores inside subway stations in Seoul amid the rising cost of living.

Apr 12, 2024By Yi Whan-woo

1,000-won bakeries become popular amid high inflation

Korea ordered to pay Mason Capital 43.8 bil. won in investor-state suit

An international tribunal ordered Korea on Thursday to pay 43.8 billion won ($32 million) in compensation to U.S.-based hedge fund Mason Capital in an investor-state suit the company filed over a controversial 2015 merger of two Samsung affiliates, the justice ministry said.

Apr 11, 2024

Korea ordered to pay Mason Capital 43.8 bil. won in investor-state suit

Foreign nationals to make up nearly 7% of Korea's population by 2042

The number of foreign nationals could potentially more than double in the next 20 years, thereby making up nearly 7 percent of the country's entire population by 2042, data showed Thursday.

Apr 11, 2024By Yi Whan-woo

Foreign nationals to make up nearly 7% of Korea's population by 2042

Financial firms bet big on sports marketing

Major financial groups have become strong sponsors for various sports in the country, leading to successful marketing campaigns and remarkable performances by sponsored teams or individual athletes at international sports competitions.

Apr 11, 2024By Anna J. Park

Banking & Finance