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Sat, January 16, 2021 | 06:02

Bank of Korea warns against steep rise in leveraged lending

Bank of Korea warns against steep rise in leveraged lending

The Bank of Korea (BOK) warned Friday against a steep rise in leveraged lending to households for stock investments.

2021-01-15 15:53

Bank of Korea keeps key rate at record low as pandemic persists

Bank of Korea keeps key rate at record low as pandemic persists

Korea's central bank on Friday held its policy rate unchanged at a record low of 0.5 percent, as the fallout from a third wave of the new coronavirus hurt the scope of maintaining an economic recovery. As widely expected, the monetary policy board of the Bank of Korea (BOK) voted to leave the base rate steady in this year's first rate-setting meeting.

2021-01-15 10:31

Gov't seeks redevelopment projects to supply more public houses in Seoul

Gov't seeks redevelopment projects to supply more public houses in Seoul

South Korea plans to supply more public housing units in Seoul through redevelopment projects, the finance minister said Friday, in the latest move to expand home supply to stabilize rising home prices. Finance Minister Hong Nam-ki said the Seoul city government has selected eight sections in the capital as candidates for pilot redevelopment projects that will be pushed with ...

2021-01-15 10:26

Calming social unrest key to solving asset market frenzy

Calming social unrest key to solving asset market frenzy

Easing looming social unrest over the ongoing asset market bubble should be at the center of the government's financial policy drive in 2021, as public worries over the overheating market will keep pushing up most asset prices here.

2021-01-10 15:31

Korea to increase hiring in public sector this year amid pandemic

Korea to increase hiring in public sector this year amid pandemic

Korea plans to increase hiring in the public sector this year, the vice finance minister said Friday, as the job market has been hit hard by the new coronavirus outbreak.

2021-01-08 17:27

Naver's data-driven financial business faces setback

Naver's data-driven financial business faces setback

Naver's grand plan of connecting its database with financial services is facing a major obstacle as the company's financial unit, Naver Financial, is unlikely to win the appropriate business license, due to an alleged breach of the law by its major shareholder.

2021-01-08 15:35

Wealth disparity to widen throughout 2021

Wealth disparity to widen throughout 2021

The wealth disparity between the rich and the poor will widen throughout 2021, as asset price inflation particularly in the property market will continue to polarize society at a much more alarming pace this year. What is of concern is that the government has only a few realistic cards to play against the deepening social imbalance at a critical juncture when the financial au...

2021-01-08 09:17

Korea to provide relief funds to small business owners by Lunar New Year's holiday

Korea to provide relief funds to small business owners by Lunar New Year's holiday

South Korea plans to provide a huge chunk of its emergency handouts to smaller merchants hit hard by the new coronavirus outbreak by the Lunar New Year's holiday in early February, the finance minister said Wednesday. The country plans to provide 9.3 trillion won (US$8.6 billion) in relief funds to small businesses stung by state-imposed shutdowns over virus cases and the sel...

2021-01-06 11:47

Small business owners seeking group action against distancing rules

Economic policymakers warn of insolvencies

Economic policymakers warn of insolvencies

Risk asset prices have rallied due to unprecedented central bank and government measures, with the Bank of Korea (BOK) lowering its benchmark rate to a historically low level.

2021-01-05 16:30

Bank of Korea to continue monetary easing amid fears of K-shaped recovery

Bank of Korea to continue monetary easing amid fears of K-shaped recovery

Bank of Korea (BOK) Governor Lee Ju-yeol has reiterated its position to maintain monetary easing in 2021, amid fears the economy could undergo a “K-shaped recovery."

2020-12-31 15:01

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