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Fri, April 20, 2018 | 12:17

Economy > Finance >

Banks sending new employees to boot camp

The nation's major banks are training their new employees in unorthodox ways. Earlier this month, KB Kookmin Bank, one of the country's largest, came under fire for getting their 400 new recruits to march 100 kilometers from Cheonan in South Chungcheong Province over two days in freezing weather; but it turns out that this was only a part of the industry culture since other major banks also conduct similar programs more of a fit for special forces soldiers.

Finance | 2018-01-29 19:17

Cryptocurrency series _ Ripple

Ripple refers to a gross settlement system, currency exchange and remittance network, which is built on a distributed internet protocol such as bitcoin and Ethereum. Ripple is distributed in the market under a ledger and virtual coin named XRP, and is the third largest coin by market capitalization as of Jan. 25.

Finance | 2018-01-29 17:20

BlackRock focusing on long-term value creation

As BlackRock approaches its 30th anniversary this year, I have had the opportunity to reflect on the most pressing issues facing investors today and how BlackRock must adapt to serve our clients more effectively. It is a great privilege and responsibility to manage the assets clients have entrusted to us, most of which are invested for long-term goals such as retirement. As a...

Finance | 2018-01-28 17:04

Anonymous crypto-trading ban may cause huge turmoil

Korean banks’ plan to introduce a real-name registration system for renewing cryptocurrency trading for 3.5 million investors is feared to trigger massive turmoil this week. The new guideline set by the financial regulator is part of moves to chill the country’s overheated digital token craze and combat illegalities that might occur in cryptocurrency trading, such as money laundering. Under the guideline, traders have to use bank accounts opened at the same bank their cryptocurrency exchange uses.

Finance | 2018-01-28 15:47

Should gains on digital coins be taxed?

It appears that the government is determined to scrap its plan to shut down exchanges of cryptocurrencies in the face of strong opposition from individual investors.

Finance | 2018-01-28 10:31

Export-Import Bank vows to push restructuring maritime industry

The head of the Export-Import Bank of Korea (Exim Bank) said the export credit agency will continue pushing ahead with its plans to further restructure the ailing maritime industry.

Finance | 2018-01-24 14:55

Hana Financial CEO faces a steep challenge

Does Hana Financial Group Chairman Kim Jung-tae still think the way he is treated is “unfair?” The answer is “No,” at least for the time being.

Finance | 2018-01-23 16:53

Banks to issue new trading accounts for cryptocurrencies on Jan. 30; anonymous transactions to be banned

Six South Korean banks will begin issuing new trading accounts for cryptocurrencies next week by introducing a system that bans the use of anonymous accounts in cryptocurrency transactions, officials at the banks said Tuesday. Opening cryptocurrency accounts has been banned for weeks until the banks install the system that ensures only real-name bank accounts and matching acc...

Finance | 2018-01-23 10:16

Ethereum: second most expensive digital token

Ethereum, an open-source cryptocurrency with a blockchain-based distributed computing platform, is currently the second most expensive virtual currency in terms of market capitalization.

Finance | 2018-01-22 19:18

Bitcoin: first crypto currency based on blockchain

It has been a rollercoaster month for virtual coin investors. Bitcoin and other cryptocurrencies plunged nearly 30 percent on local exchanges Jan. 17, following a series of government announcements about tightening regulations to prevent speculative investment in virtual money.

Finance | 2018-01-22 19:10

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Missile attack on Syria