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Sat, September 22, 2018 | 10:10

Economy > Finance >

NTS to suspend auditing self-employed

The National Tax Service (NTS) said Thursday it will not audit the books of 5.69 million self-employed and small business owners until the end of next year. This will let them focus on running their operations without having to worry about tax investigations. The move comes as they increasingly face hardship amid a weak economy and rises in the minimum wage. NTS data showed t...

Finance | 2018-08-16 16:57

Crypto exchanges protest exclusion from venture firms list

The government's decision to exclude the nation's crypto exchanges from its classification list of venture firms is provoking an industry outcry.

Finance | 2018-08-16 01:48

Investors dump gold for dollars amid trade disputes

Global investors are dumping and staying away from gold, while trying to get their hands on U.S. dollars amid the United States' growing trade disputes with China, the European Union and Turkey among others. Gold futures for 60 months forward are barely trading above $1,200 an ounce, and spot gold reached $1,193, its lowest level in nearly 18 months, according to CME Group's ...

Finance | 2018-08-15 16:16

Hana fixes eyes on North Korea

Kim Jung-tai, chairman and chief executive of Hana Financial Group, will be heading for North Korea to watch a youth soccer match for the 4th Ari Sports Cup held in Pyongyang from Aug. 13 to 18, according to the Ministry of Unification and the South and North Korean Sports Exchange Association. The chairman is expected to be joined by KEB Hana Bank CEO Ham Young-joo and sever...

Finance | 2018-08-15 14:53

Reinventing brands key to lasting success

Brands need to reinvent themselves constantly as the business environment and lifestyle trends change rapidly in the digital age, according to a marketing specialist. Companies, schools and households should train up the ability to see what's coming in the future, and build and reinvent their brands before the moment of truth arrives.

Finance | 2018-08-15 08:50

Samsung Life in proxy war against FSS

Samsung Life has waged a legal battle against the nation's financial regulator by filing a lawsuit against one of its policyholders that claimed the insurer overcharged them and didn't pay a fair annuity.

Finance | 2018-08-14 17:59

Financial firms rush to Southeast Asia

Korean financial firms are expanding their presence in Southeast Asia. Major banks are tapping into the world's most rapidly growing economies, which are considered to be their next overseas cash cows, in a bid to overcome difficulties in finding new revenue sources in the saturated domestic financial market.

Finance | 2018-08-14 17:58

Turkey woes jolt financial markets

The financial market took a heavy beating Monday as fears about Turkey's currency crisis are growing and sending shudders throughout Asia.

Finance | 2018-08-14 17:58

MBK anxiously wants to sell ING to Shinhan: sources

MBK Partners, a local private equity giant, seemingly wants to sell ING Life Insurance before the end of the year after holding onto the insurance company for five years, multiple sources said Tuesday. Shinhan Financial Group has been in talks with the firm to acquire ING since April when it filed a public disclosure that it is considering the acquisition. However, a Shinhan ...

Finance | 2018-08-14 15:49

Credit card blues

Credit card companies are reeling from constant state pressure to lower the fees they charge stores for customer transactions, industry sources said Monday. It has been hurting their bottom lines to the point where they are barely able to keep their margins up. “The industry has lowered fees six times since 2012 as the government has forced them to do so through legislation. ...

Finance | 2018-08-14 11:30

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Inter-Korean Summit in Pyongyang