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The Korea Times

The Korea Times

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Economy

Thu, September 28, 2023 | 10:04

Assembly moves to punish bank CEOs for negligence

Assembly moves to punish bank CEOs for negligence

The National Assembly is expected to receive a bill for approval within this month, as part of accelerated efforts made by the government and the ruling party, to punish commercial bank CEOs if their companies are caught committing financial crimes, according to political and financial sources, Sunday.

Yi Whan-woo | 2023-09-10 16:27

FSS Governor visits Europe to attract financial investments

FSS Governor visits Europe to attract financial investments

Financial Supervisory Service (FSS) Governor Lee Bok-hyun has embarked on a week-long tour, Sunday, which will entail visits to three European countries: Switzerland, the U.K. and Germany. The tour aims to both promote the Korean financial industry and discuss global financial supervision issues.

Anna J. Park | 2023-09-10 15:55

No official export ban on urea by China in effect: finance ministry

No official export ban on urea by China in effect: finance ministry

Korea's finance ministry said Friday it has confirmed that China has not implemented an official ban on shipments of urea by fertilizer firms and noted that the domestic supply would remain stable even if there were any curbs.

2023-09-08 13:58

Rise in oil price clouds Korea's economic prospects: KDI

Rise in oil price clouds Korea's economic prospects: KDI

Korea's near-future economic outlook doesn't look good, a predicament largely caused by outside factors such as rising oil prices and China's domestic woes that are increasing global economic instability, according to a state-run think tank, Thursday.

Ko Dong-hwan | 2023-09-07 16:52

Financial irregularities put brakes on plan to boost number of nationwide banks

Financial irregularities put brakes on plan to boost number of nationwide banks

The government's plan to increase the number of commercial banks operating nationwide faces a setback amid a slew of financial irregularities in the banking industry. According to media reports, the Financial Supervisory Service (FSS) extended its inspection of DGB Daegu Bank, which was scheduled to end on Sept. 1.

Yi Whan-woo | 2023-09-07 16:10

Korea's exports decline easing amid lingering uncertainties: KDI

Korea's exports decline easing amid lingering uncertainties: KDI

Korea's exports are showing signs of improvement, but uncertainties from China continue to weigh on the economy, a state-run think tank said Thursday.

2023-09-07 14:09

Corporate loan growth accelerates in Q2

Corporate loan growth accelerates in Q2

Corporate loan growth in Korea picked up in the second quarter from three months earlier, central bank data showed Thursday, mainly due to a gain in loans for the service sector.

2023-09-07 14:09

BOK chief to attend BIS meetings in Switzerland

BOK chief to attend BIS meetings in Switzerland

Korea's top central banker will attend meetings of the Bank for International Settlements (BIS) to be held in Switzerland early next week, his office said Thursday.

2023-09-07 13:57

Korea and Indonesia to deepen financial cooperation in fintech, digitalization

Korea and Indonesia to deepen financial cooperation in fintech, digitalization

Financial Services Commission (FSC) Vice Chairman Kim So-young vowed to actively support mutually beneficial business activities by private financial companies in Korea and Indonesia to deepen bilateral cooperation.

Anna J. Park | 2023-09-06 16:45

Koreans increasingly embrace cashless society

Koreans increasingly embrace cashless society

Following the transition to a cashless society, an increasing number of Koreans are no longer using wallets because their smartphones are proving to be more convenient. According to data released by the Bank of Korea (BOK), Tuesday, consumers are increasingly using digital wallets to buy goods, with the average daily number of payments ticking up 13.4 percent from a year earl...

Yi Whan-woo | 2023-09-06 16:33

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