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Mon, October 23, 2017 | 02:13

Economy > Finance >

Market shows resilience toward N. Korea risk

Analysts say North Korea’s ballistic missile launched over Japan is not likely to greatly affect the local financial market. The impact from yet another provocative move by Pyongyang will not be as big as the North’s intercontinental ballistic missile (ICBM) tests last month. Also, investors have always taken into account geopolitical risks concerning North Korea when investi...

Finance | 2017-08-29 18:09

Apartment maintenance fees surge 24% in five years

As apartment prices in the Seoul metropolitan areas have increased rapidly over the past five years, their maintenance fees have followed suit. But what is more surprising is that the rate of increase in fees has been far greater than that of average consumer prices. With wage growth slower than inflation and the high level of mortgages, analysts say such a fee will add furth...

Finance | 2017-08-29 11:41

FTC to look into chaebol charity foundations

Charity foundations set up by the country’s top conglomerates hold a considerable portion of shares in their affiliates. This has led to speculation that they may be helping the owner families maintain control over the business groups. The Fair Trade Commission (FTC) is expected to look into the issue as its chief has identified it as a problem. According to Chaebul.com, a co...

Finance | 2017-08-28 16:34

Nonbank loans to private sector hit record

Nonbank loans to companies increased in the first half amid tightening regulations and management of commercial banking. The Bank of Korea said Monday that such nonbank loans reached 113.4 trillion won as of the end of June this year, up 16.4 trillion won from last December. This a record high since the central bank began compiling the data in 2013.

Finance | 2017-08-28 14:30

North Korea threat dampening consumer sentiment

Consumer sentiment fell for the first time in seven months amid concerns over tensions between North Korea and the United States. Expectations on wages, meanwhile, are improving as the new administration focuses on expanding household income and creating more jobs. According to the Bank of Korea, the composite consumer sentiment index for August stood at 109.9, down 1.2 points from the previous month. A reading above 100 means consumer sentiment is more optimistic than the average between 2003 and 2016. It is based on a nationwide survey of 2,200 households held from Aug. 11 to 18.

Finance | 2017-08-25 16:48

KTB chairman blasted for violence on employee

KTB Investment & Securities Chairman Kwon Sung-moon is drawing public criticism after he was caught on tape kicking his employee. A local cable news channel reported showing a CCTV clip of Kwon kicking a man as soon as the latter got out of a car. The man was an employee of Camptong, a resort Kwon invested in through the chairman’s real estate company Tong Universe.

Finance | 2017-08-25 10:03

Veteran auditor Kim may head FSS

Kim Jo-won, a veteran state auditor, may be appointed as the new governor of the Financial Supervisory Service (FSS). A number of news outlets have reported since last week that Cheong Wa Dae has almost completed its ethics and personnel evaluation of Kim. They added that President Moon Jae-in is highly likely to appoint Kim as the FSS chief next week.

Finance | 2017-08-24 16:01

Change begins in mind: entrepreneur Amyx

In the Marvel comic book universe, Thor, the god of thunder, uses his hammer as both a tool and a weapon to defeat his enemies and resolve conflicts. Korea needs this kind of hammer, although not as big, mythical or mighty as Thor’s, to fight its enemy. That enemy exists within this country and the minds of its people who are so used to the old and conventional ways that they...

Finance | 2017-08-24 13:00

S. Koreans' overseas card spending hits record high in Q2

Overseas card spending by South Koreans hit a record high in the second quarter despite a decline in the number of people going overseas, the central bank said Thursday. In the April-June period, overseas card spending amounted to $4.18 billion, up 20.6 percent from a year earlier, according to the Bank of Korea (BOK). From a quarter earlier, the Q2 tally marked a 4-percent i...

Finance | 2017-08-24 10:53

Naver founder cuts stake ahead of chaebol designation

Naver founder Lee Hae-jin has reduced his interest in the country’s largest portal, following his request to the antitrust agency not to classify him as a chaebol owner. Lee sold 110,000 of his shares to foreign investors in an after-hours deal at a 3 percent discount to Naver’s Tuesday closing price, according to a company regulatory disclosure Wednesday. He now owns a 4.31 ...

Finance | 2017-08-23 17:18

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Lunch with Navy sailors