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Tue, November 20, 2018 | 00:43

Economy > Finance >

Lenders axe jobs despite record profits

The number of permanent workers at Korea's big four lenders declined nearly 2,000 this year amid the nation's worsening job market.

Finance | 2018-11-08 20:39

Korean lawyers call for legal framework for blockchain

A group of lawyers has urged the government to promptly institute measures to help regulate the blockchain business here. They said the current, long-extended inaction only hampers development of the financial industry, while more fall victim to cryptocurrency-related fraud due to a lack of credible information.

Finance | 2018-11-08 17:33

Sohn to head Woori Financial, Woori Bank

Woori Bank CEO Sohn Tae-seung will head both Woori Bank and Woori Financial Group until March 2020, the bank said Thursday. The bank's board decided that Sohn should take on “double duty” as the chairman and chief executive of the holding company and Woori Bank, following the Financial Services Commission's (FSC) approval of the governance proposal.

Finance | 2018-11-08 16:19

Crypto exchanges rush to go abroad

The nation's crypto exchanges are tapping into foreign markets while the financial authorities are standing idly by setting up necessary regulations about virtual coins and blockchain technology.

Finance | 2018-11-08 04:24

Banks to reshuffle executives at year-end

Commercial banks are expected to conduct a major reshuffle for executives by the end of this year. Of 87 executives in the nation's big four lenders, contracts of 67 executives are set to expire at the end of this year.

Finance | 2018-11-08 04:24

KRX enhances CSR program

The Korea Exchange (KRX) Happy Foundation will have given two-year scholarships to about 130 students in 2018 as part of its corporate social responsibility (CSR) project to foster talented youngsters from underprivileged backgrounds, it said Wednesday.

Finance | 2018-11-07 17:16

Stock trading tax debate heating up

Debate over abolition of stock transaction taxes is heating up after the nation's top financial regulator said that time is ripe for the change. The Financial Services Commission (FSC) Chairman Choi Jong-ku told lawmakers, Nov. 6, that it is time to “seriously consider” abolishing taxes imposed on stock transactions to reinvigorate the capital market.

Finance | 2018-11-07 16:50

Head of Morgan Stanley PE local office hit for abusing driver

The head of the regional office of Morgan Stanley Private Equity Asia has come under fire for constantly abusing and insulting his driver. This is the latest case of abuse and bullying of employees by managers, which has become a serious social problem garnering strong public criticism.

Finance | 2018-11-06 18:11

Korean banks bolster expat banking

Korean banks are beefing up their services for foreign residents here in a bid to build a new customer base amid rapid saturation of the domestic financial market.

Finance | 2018-11-06 17:17

Economy expected to worsen further in 2019

The Korean economy is expected to deteriorate further in 2019 amid lingering global uncertainties coupled with domestic woes, said a group of noted authors of new book “2019 Economic Issues & Trends,” Tuesday.

Finance | 2018-11-06 17:16

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