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Finance

Policies

Fri, July 30, 2021 | 16:46

Delta variant saps business sentiment in Korea

Rising numbers of COVID-19 cases and the continued spread of the Delta variant rattled business sentiment in July, with the country's business survey index (BSI), which measures how companies view surrounding conditions, turning red for the first time since February.

Kim Yoo-chul | 2021-07-30 16:27

Fed's dovish stance gives BOK room to maneuver

The Bank of Korea (BOK) will have room to maneuver in terms of adjusting its monetary policy, relieved by the Federal Reserve's decision to leave its key policy rate unchanged at 0 to 25 basis points with asset purchase programs intact.

Lee Kyung-min | 2021-07-29 16:47

Daishin Securities urged to compensate 80 percent of Lime's mis-selling

The dispute settlement committee of the Financial Supervisory Service (FSS) ruled that Daishin Securities should compensate 80 percent of losses incurred by consumers from the brokerage's mis-selling of Lime funds. It is the highest percentage of compensation ever advised by the financial authority involving the soured fund.

Anna J. Park | 2021-07-29 16:31

Gov't desperate to cool overheating real estate market

The government said Wednesday that steep increase in housing prices over the past few years will experience a deeper-than-expected drop, seeking to deter continued purchase of houses in Seoul and Gyeonggi area. Yet little desired outcome is expected from the real estate market, since investors have learned that attempts to control what should be determined by supply-and-deman...

Lee Kyung-min | 2021-07-28 16:58

Korea's National Tax Service pledges cooperation with Russia and Uzbekistan

In a move to strengthen concerted efforts for international coordination, Korea's National Tax Service (NTS) pledges to cooperate closely with Russia and Uzbekistan, particularly in preventing double taxation and in uncovering offshore tax evasion.

Anna J. Park | 2021-07-27 15:09

Increasing Chinese property purchases concern Koreans

Chinese buyers are increasing real estate purchases in Korea, leading to concerns among some Koreans who are suffering from soaring housing prices. According to data from the Ministry of Land, Infrastructure and Transport submitted to Rep. Hong Seok-joon of the main opposition People Power Party, foreigners owned 157,489 real estate properties as of 2020, which is 2.2 times m...

Yoon Ja-young | 2021-07-27 08:49

Gov't to seize, sell cryptocurrencies held by tax dodgers

Tax authorities will be able to seize and sell cryptocurrencies held by tax dodgers starting Jan. 1, 2022, the finance ministry said Monday.

Lee Kyung-min | 2021-07-26 16:52

Korea to issue FX bonds buoyed by solid ratings outlooks

The Ministry of Economy and Finance plans to issue $1.5 billion (1.7 trillion won) worth of foreign exchange stabilization bonds (forex bonds) in the U.S. and Europe on the back of foreign investors’ high assessment of the country’s economy, as evidenced by stable sovereign credit ratings and outlook from three global rating agencies.

Lee Kyung-min | 2021-07-25 16:32

Korea to launch pilot operation of mobile driver's license

South Korea plans to begin a pilot operation of a mobile driver's license in January next year in a bid to help people verify their identities more conveniently, a senior government official said Friday.

2021-07-23 14:24

Non-financial borrowing by gov't, households surged last year

Non-financial borrowing by the government and households surged last year, and asset prices grew faster than debt, according to government data on Thursday. This was due to the booming stock and real estate markets, amid low borrowing costs enabled by pandemic-induced emergency expansionary policies.

Lee Kyung-min | 2021-07-22 16:56

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