Business - The Korea Times

No. of foreign nationals with domestic insurance policies surpasses 1 million

The number of foreign residents in Korea who have signed up for insurance through domestic life and non-life insurance companies has exceeded 1 million for the first time, according to the Korea Credit Information Services (KCIS).

Dec 26, 2024By Jun Ji-hye

No. of foreign nationals with domestic insurance policies surpasses 1 million

KDB employees relieved as Busan relocation plan flounders

Employees of the Korea Development Bank (KDB) were reportedly reassured regarding the bank's future following the passage of an impeachment motion against President Yoon Suk Yeol, which significantly reduced the likelihood of the KDB relocating its headquarters to Busan.

Dec 26, 2024By Yi Whan-woo

KDB employees relieved as Busan relocation plan flounders

Tensions escalate over year-end wage hikes in financial sector

Conflicts over year-end wage increases have intensified in the financial sector, with the labor union of the Industrial Bank of Korea (IBK) announcing a general strike and the union at the Bank of Korea (BOK) expressing its support.

Dec 25, 2024By Lee Yeon-woo

Tensions escalate over year-end wage hikes in financial sector

Hana’s Travlog tops 7 mil. subscribers

Hana Financial Group Chairman Ham Young-joo, front row center, poses with Hana Bank CEO Lee Seung-lyul, front row fourth from left, and Hana Card CEO Lee Ho-seoung, front row sixth from left, at an event celebrating the group’s Travlog service surpassing 7 million users at the bank's headquarters in Seoul, Tuesday. Travlog offers currency exchange services for 58 currencies, including overseas transactions and withdrawals from ATMs overseas, all without fees. The service has saved customers over 170 billion won ($116 million) to date. Courtesy of Hana Financial Group

Dec 25, 2024By Yoon Ja-young

Korea changes rule on resource development amid East Sea exploration

Korea has revised a maritime resource development rule to offer more business predictability for investors in an ongoing project to search for oil and gas in the East Sea, the industry ministry said Tuesday.

Dec 24, 2024By Yonhap

Korea changes rule on resource development amid East Sea exploration

Does bank support for small businesses conflict with Value-up strategy?

The banking industry announced new measures, Monday, to provide financially support to small business owners starting next year, with an estimated 2 trillion won ($1.3 billion) allocated over three years.

Dec 24, 2024By Lee Yeon-woo

Does bank support for small businesses conflict with Value-up strategy?

Shinsegae-related stocks soar following chairman's meeting with Trump

Shares related to Shinsegae Group surged, buoyed by news that its chairman, Chung Yong-jin, became the first among Korean politicians, diplomats or business leaders to officially hold a face-to-face meeting with U.S. President-elect Donald Trump since his reelection last month.

Dec 23, 2024By Jun Ji-hye

Shinsegae-related stocks soar following chairman's meeting with Trump

Korea's super-rich opt for safer investments in 2025: report

Korea's super-rich, who account for less than 1 percent of the country’s population, are choosing low-risk investment options next year due to economic uncertainties, a report showed Sunday.

Dec 23, 2024By Yi Whan-woo

Korea's super-rich opt for safer investments in 2025: report

Hana Financial volunteers serve free meals to homeless

Hana Financial Group Vice Chairman Lee Eun-hyung, center, poses with representatives from Korea's Catholic community as well as the business network in Seoul’s shopping district of Myeong-dong during a volunteer service at Myeongong Cathedral, Friday. Volunteers from the banking group and its affiliates served 1,111 free meals to homeless people and other socially disadvantaged people at the cathedral. Courtesy of Hana Financial Group

Dec 22, 2024By Yi Whan-woo

Hana Financial volunteers serve free meals to homeless

Gov't cautious on economic roadmap following president's impeachment

The government is expected to take a cautious approach in presenting an economic roadmap for next year, as state affairs remain in limbo following the impeachment of President Yoon Suk Yeol.