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Wed, June 20, 2018 | 08:44

Economy >

FTC head draws fire from shareholders of chaebol units

Minority shareholders of Samsung SDS are taking action against Fair Trade Commission (FTC) Chairman Kim Sang-jo as his comment pulled down prices of company shares.

Finance | 2018-06-19 16:19

Central bank expressing concerns about US rate hike

The Bank of Korea (BOK) Governor Lee Ju-yeol expressed concerns about possible adverse effects of the recent U.S. rate hike as chances for more rate increases will raise uncertainty about market volatility.

Policies | 2018-06-19 16:58

Lenders strengthening mobile platforms in Vietnam

The nation's major banks are strengthening their mobile platforms to take the upper hand in Vietnam's financial market. According to Shinhan Bank, it recently concluded a digital business partnership with Vietnam's largest messenger app Zalo and started introducing various financial products to Vietnam this month. About 80 percent of the Vietnamese people reportedly use Zalo via their smartphones.

Finance | 2018-06-19 16:26

Self-employed alarmed by rising interest rates

As interest rates on loans are surging following a U.S. key rate hike, the self-employed, already suffering from a sluggish economy and soaring costs following the steep minimum wage hike, are facing snowballing burdens of paying back loans. Analysts warn that it could hamper economic recovery as well as cause trouble in the financial market if they have problems paying back ...

Finance | 2018-06-18 17:14

Nuclear reactor shutdown clouds Korea's export plan

The decision to shut down Wolsong-1 nuclear reactor as well as canceling plans for the construction of four new ones is raising concern that it will adversely affect export plans and hurt the industrial ecosystem. Analysts also expect electricity rate hikes will be inevitable.

Policies | 2018-06-18 17:13

'BOK will not issue digital money'

The Bank of Korea (BOK), the country's central bank, said Monday it opposes the idea of central bank digital currency (CBDC) as issuing CBDC will raise the basic mechanics of monetary policy and implementation, including the bank's use of open market operations.

Policies | 2018-06-18 17:36

NH NongHyup, IBK to comply with US money laundering rules

Leading private lenders in Korea are beefing up measures at their headquarters in Seoul and at their New York branches to comply with U.S. money laundering rules in a pact reached with state and U.S. banking regulators.

Finance | 2018-06-15 15:33

Business lobby calls for more effective deregulation

The head of the country's leading business lobby group called for the government to show more sincere efforts for deregulation, stressing businesses cannot create jobs due to tough regulations.

Policies | 2018-06-15 16:27

FTC urged to promote competition

Fair Trade Commission (FTC) Chairman Kim Sang-jo vowed to continue reforming conglomerates, on top of rooting out power abuse over weaker competitors. However, he is facing criticism that the FTC has been negligent in promoting competition.

Policies | 2018-06-14 16:28

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