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Finance

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Sun, April 5, 2020 | 01:09

Korea urged to take preemptive steps against job crisis

Korea urged to take preemptive steps against job crisis

The government should come up with detailed countermeasures to minimize a possible post-pandemic unemployment crisis here, as lost jobs rarely come back when they end up increasing the debt load for small- and medium-sized enterprises (SMEs), a Hong Kong-based economic expert said Tuesday.

Lee Min-hyung | 2020-04-03 16:41

'V-shaped rebound unlikely'

'V-shaped rebound unlikely'

First Vice Minister of Economy and Finance Kim Yong-beom, left, speaks during a meeting to check the economy and financial markets at the Korea Federation of Banks in central Seoul, Friday. He said it could be difficult for the global economy to see an immediate V-shaped recovery as the coronavirus pandemic continues to worsen. Kim added that the government is reviewing means...

Kim Bo-eun | 2020-04-03 15:55

Specter of liquidity crisis haunts Korean firms, banks

Specter of liquidity crisis haunts Korean firms, banks

Fears of a possible liquidity crisis in the coming months have failed to subside despite a series of market stabilization measures by Financial Services Commission (FSC) and the Bank of Korea (BOK). The massive steps taken by the financial authorities have not relieved the anxiety among companies, banks and investors as many firms face the possibility that huge amounts of deb...

Park Jae-hyuk | 2020-04-03 15:23

[Reporter's notebook] 'Having money isn't everything, not having it is'

[Reporter's notebook] 'Having money isn't everything, not having it is'

“Havin' money's not everything, not havin' it is,” go the lyrics of the popular song “Good Life” by American rapper Kanye West.

Lee Kyung-min | 2020-04-03 15:06

Gov't vows active use of FX reserves to stabilize market

Gov't vows active use of FX reserves to stabilize market

"Currently, the government is closely monitoring the debt-maturing schedules and other developments in the short-term money market and corporate bond market," Kim Yong-beom said after a weekly meeting in Seoul.

2020-04-03 10:38

Int'l fintech fair to go online over COVID-19

Int'l fintech fair to go online over COVID-19

Korea Fintech Week 2020 will be held online starting May 28, as the coronavirus pandemic led the government to cancel the international fair's offline event which was supposed to take place at Dongdaemun Design Plaza (DDP) in Seoul from May 28 to 30.

Park Jae-hyuk | 2020-04-01 12:34

Debate heating up over 'basic disaster income'

Debate heating up over 'basic disaster income'

Whether the government should offer cash handouts to citizens whose livelihoods have been disrupted by the COVID-19 outbreak is emerging as a key issue, with top policy makers and heads of municipal governments remaining far apart over what some claim is a” vote-seeking, populist move” ahead of the general election.

Lee Kyung-min | 2020-03-29 17:57

Korea calls for allocation of Special Drawing Rights

Korea calls for allocation of Special Drawing Rights

Finance Minister Hong Nam-ki called on the International Monetary Fund to consider allocating Special Drawing Rights (SDR), an international reserve asset, to provide global liquidity amid the rapidly spreading coronavirus pandemic. Hong made his case in a video conference of the International Monetary and Financial Committee, the governing body of the IMF, which was held Fri...

2020-03-28 10:46

Market unresponsive to BOK's move for quantitative easing

Market unresponsive to BOK's move for quantitative easing

The nation's short-term money market has remained volatile despite the Bank of Korea (BOK)'s unprecedented decision to funnel “limitless” cash into financial institutions. Following the announcement, the three-month commercial paper interest rate surged to 2.04 percent as of Thursday, up 0.17 percentage points from the previous day, according to the Korea Financial Investment...

Lee Min-hyung | 2020-03-27 16:38

Consumer sentiment plummets due to virus spread

[INTERVIEW] 'This is the fastest recession ever'

[INTERVIEW] 'This is the fastest recession ever'

Korea is advised to cut its key interest rate further and expand fiscal policy so as not to become an additional victim to the escalating fears from the coronavirus-driven economic shock, Antonio Fatas, economics professor at INSEAD said Wednesday. He warned that a potential global recession triggered by the COVID-19 pandemic will arrive much sooner than expected as its econo...

Lee Min-hyung | 2020-03-26 17:08

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