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Finance

Tue, June 2, 2020 | 14:44

Korea's GDP shrinks 1.3% in first quarter

Korea's GDP shrinks 1.3% in first quarter

South Korea's economy contracted slightly less than expected in the first quarter, when the coronavirus outbreak hit consumer demand and economic activity, revised central bank data showed Tuesday.

2020-06-02 10:57

Korea to focus on digital, green initiatives to boost economy

Korea to focus on digital, green initiatives to boost economy

The government said Monday that it will invest 76 trillion won ($61.9 billion) by 2025 to strengthen digitization, eco-friendly growth and social safety nets, in a sweeping move to reinvigorate the economy hit by the COVID-19 pandemic. The Ministry of Economy and Finance announced a series of economic directives for the latter half of 2020, aimed mostly at bolstering investme...

Lee Kyung-min | 2020-06-01 17:04

S. Korea cuts 2020 growth estimate to 0.1%, sees sharp rebound in 2021

South Korea on Monday sharply slashed its growth estimate for the year, joining many others in a gloomy outlook for Asia's fourth-largest economy hit by a virus-triggered slump in global trade. The finance ministry revised down its growth outlook to 0.1 percent from the 2.4 percent forecast late last year.

2020-06-01 16:59

KOSPI's price-earnings ratio hits highest level in 10 years

KOSPI's price-earnings ratio hits highest level in 10 years

Concern has been raised as to whether the KOSPI is overvalued, as shown in the record-high rise in the price-earnings ratio (PER) level over a decade. According to the Korea Exchange (KRX), the benchmark index' PER, as of May 27, logged 19.6, which is the highest since April 2010, when the figure exceeded 20. The PER is the ratio of a company's stock price to the company's ea...

Anna J. Park | 2020-06-01 16:26

KB Kookmin Card rejects Fitch's ratings downgrade

KB Kookmin Card rejects Fitch's ratings downgrade

KB Kookmin Card is facing growing concerns over its international creditworthiness after the credit card issuing unit of KB Financial Group requested Fitch Ratings to withdraw its ratings that were downgraded recently amid the COVID-19 pandemic.

Park Jae-hyuk | 2020-06-01 16:05

Korea may fall prey to US-China currency war

Korea may fall prey to US-China currency war

An escalating sign of the United States-China currency conflict is expected to become a “very serious” fear factor that determines the valuation of Korea's currency, but the scale of the looming challenge remains unclear for the time being due to its infancy, experts said Monday. The outlook came at a time when the world's two largest economies are stirring their renewed trad...

Lee Min-hyung | 2020-06-01 15:58

Korean diplomacy put to test again

Hana Financial launches digital-driven non-life insurer

Hana Financial launches digital-driven non-life insurer

Hana Financial Group on Monday launched a digital-driven non-life insurer, Hana Insurance, formerly The-K Non Life Insurance, about a month after finishing legal procedures to take over the mid-tier insurance company. Hana Insurance is Hana Financial's first non-life business affiliate, with the newly launched entity becoming the group's 14th financial subsidiary.

Lee Min-hyung | 2020-06-01 15:57

[STOCK Watch] Samsung Electronics' stock expected to gain momentum

[STOCK Watch] Samsung Electronics' stock expected to gain momentum

Despite its rather sluggish rebound from the shock from the COVID-19 pandemic, Samsung Electronics' stock price is expected to continue to rise, as market analysts predict the global chipmaker's revenues will improve from the third quarter.

Anna J. Park | 2020-06-01 10:42

Record-low interest rate to push down mortgage rate

Record-low interest rate to push down mortgage rate

Borrowing costs for households including mortgages will decrease starting today following a record-low key base interest rate set by the central bank.

Lee Kyung-min | 2020-05-31 17:15

Default concerns grow amid low interest

Default concerns grow amid low interest

Economists expressed concerns Sunday over household and corporate debt extended by government-backed lending programs introduced as part of a relief package amid the COVID-19 pandemic.

Lee Kyung-min | 2020-05-31 17:15

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