Banking & Finance

Government, opposition poles apart over taxation on wealthy, banks

The government and the ruling party are at odds with the opposition over tax policy for the wealthy, with time running out for the National Assembly to determine next year’s budget measures.

Nov 22, 2023By Yi Whan-woo

Government, opposition poles apart over taxation on wealthy, banks

Half of newly listed stocks in 2023 valued lower than IPO price

Half of the shares of firms that are newly listed on the stock market are traded lower than their initial public offering (IPO) prices, data showed, Tuesday.

Nov 21, 2023By Yi Whan-woo

Half of newly listed stocks in 2023 valued lower than IPO price

EDCF hosts annual seminar for smaller firms to join foreign assistance market

The Economic Development Cooperation Fund (EDCF), Korea’s foreign assistance project body, hosted an annual seminar, Tuesday, to help small- and medium-sized enterprises (SMEs) set foot in foreign aid businesses.

Nov 21, 2023By Yi Whan-woo

EDCF hosts annual seminar for smaller firms to join foreign assistance market

New KB chief vows mutual growth with society

KB Financial Group's new chairman Yang Jong-hee promised to foster mutual growth with society, during a ceremony marking his inauguration to the position at the group's headquarters in Seoul, Tuesday.

Nov 21, 2023By Lee Yeon-woo

New KB chief vows mutual growth with society

Mirae Asset continues remarkable growth in India

Mirae Asset Global Investments, which has grown into the 9th biggest asset manager in India, is expected to continue its remarkable growth this year.

Nov 21, 2023By Yoon Ja-young

Mirae Asset continues remarkable growth in India

Hana Financial Group to provide liquidity to deficit-ridden brokerage arm

Hana Financial Group has decided to provide financial support to Hana Securities by issuing hybrid securities amounting to a maximum of 150 billion won ($116 million) at the end of this month, the financial group said on Monday.

Nov 20, 2023By Anna J. Park

Hana Financial Group to provide liquidity to deficit-ridden brokerage arm

IMF urges Korea to drastically reform national pension scheme

The International Monetary Fund (IMF) urged Korea to drastically reform its national pension system, warning of massive debt that is projected to rise 200 percent higher than gross domestic product (GDP) within 50 years.

Nov 19, 2023By Yi Whan-woo

IMF urges Korea to drastically reform national pension scheme

Changing face of securities: Branches close as mobile trading takes over

It's not just banks that are closing their branches. With mobile trading on the rise, securities firms, struggling in a sluggish business environment, have closed over 50 branches in the past year, shifting their strategies to expanding premium branches that cater to wealthy customers.

Nov 17, 2023By Lee Yeon-woo

Changing face of securities: Branches close as mobile trading takes over

Korean economy expected to grow 2.2% next year: IMF

The Korean economy will strengthen gradually in the second half to reach a growth rate of 1.4 percent in 2023, lifted by a recovery in chip exports and tourism, the International Monetary Fund (IMF) said. The country's economy is expected to grow 2.2 percent next year.

Nov 17, 2023By Lee Kyung-min

Korean economy expected to grow 2.2% next year: IMF

Korean economy shows signs of recovery despite external uncertainties: gov't

Citibank, SC Bank Korea meet mixed outcomes in Q3

Citibank Korea and Standard Chartered (SC) Bank Korea met mixed outcomes in their third-quarter operations in Korea. Both banks saw notable increases in their interest income due to prolonged high interest rates, yet expenses and the amount of reserve funds created the differing performances.

Nov 16, 2023By Lee Yeon-woo

Citibank, SC Bank Korea meet mixed outcomes in Q3

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