Banking & Finance

Low-income households struggle with heavier debt

Debt held by income earners in the bottom 20 percent grew much faster than the country's top income earners' borrowings over the past year, data showed Thursday. A total of 14.9 percent of the total population in the same period made less than the country’s median income, up 0.1 percentage points.

Dec 7, 2023By Lee Kyung-min

Low-income households struggle with heavier debt

Oil prices expected to fluctuate over China slowdown, supply-demand mismatch

Global oil prices will continue fluctuating due to doubts over the efficacy of oil-producing countries' production cuts, combined with slumping demand in China and increases in U.S. inventory reserves, market watchers said Thursday.

Dec 7, 2023By Lee Kyung-min

Oil prices expected to fluctuate over China slowdown, supply-demand mismatch

Naver Pay expands to 65 countries, regions with UnionPay partnership

Naver Pay's QR code payment has now become available at offline stores in 65 countries and regions around the world.

Dec 7, 2023By Anna J. Park

Naver Pay expands to 65 countries, regions with UnionPay partnership

Citibank Korea hosts summit for digital corporate clients

Citibank Korea hosted the Korea Digital Leaders Summit 2023 in Seoul on Wednesday, inviting over 30 executives from the country’s key digital companies.

Dec 7, 2023By Yoon Ja-young

Citibank Korea hosts summit for digital corporate clients

KB Financial hosts HUB Day to foster startups

KB Financial Group held its 2023 HUB Day event to foster strong local startups and provide them with growth opportunities backed by stable financing and business development guidance, the group said Wednesday.

Dec 6, 2023By Lee Kyung-min

KB Financial hosts HUB Day to foster startups

Real estate risks set to hit brokerages in 1st half of next year

Fears are mounting of poor growth for local brokerages, fueled by a combined 12 trillion won ($9.1 billion) in project financing risk exposure certain to wipe out bridge loan-tied credit before next June, according to market watchers, Wednesday. A bridge loan is a high-risk, high-interest loan operated mostly by securities firms and savings banks for the short term.

Dec 6, 2023By Lee Kyung-min

Real estate risks set to hit brokerages in 1st half of next year

INTERVIEW Korea has great opportunity to lead green transition

Deloitte's green-tech solution founder aims to accelerate net-zero pathwaysBy Anna J. ParkDeloitte globally launched GreenSpace Tech, a climate technology ecosystem initiative, in January this year, aiming to facilitate decarbonization and sustainability through its extensive global network of climate technology specialists and innovators. Since its launch, it is now operating in 23 countries, including the U.S., U.K., Australia and Korea, providing robust solutions and tailored insights to over 40 business projects so far.

Dec 6, 2023By Anna J. Park

[INTERVIEW] Korea has great opportunity to lead green transition

K bank names digital expert as new CEO

K bank has named former BNK Financial Group executive Choi Woo-young as its next CEO, the company announced, Tuesday.

Dec 5, 2023By Yi Whan-woo

Finance minister nominee vows aggressive push for market-driven reforms

Finance minister nominee Choi Sang-mok vowed, Tuesday, to aggressively pursue market-driven reforms through innovation and deregulation, stressing the need for Korea to turn into a dynamic economy in the midst of an accelerated growth slowdown and persistently high inflation.