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Finance

Wed, February 26, 2020 | 22:51

Investors fleeing to gold, bonds amid mounting virus fears

Investors fleeing to gold, bonds amid mounting virus fears

Investors here and abroad are flocking to safe-haven assets, such as gold and treasury bonds, amid growing fears that the financial malaise caused by the rapid spread of the coronavirus is spreading worldwide.

Anna J. Park | 2020-02-26 17:23

Virus-hit Korea urged to use expansionary policy

Zero percent interest era on the way

Zero percent interest era on the way

Major commercial banks are rushing to cut interest rates on savings accounts, in a pre-emptive attempt to tackle their worsening business environment due to the prolonged economic slump and toughened government regulations. Shinhan Bank plans to cut its interest rate on all checking accounts to 0.1 percent from March 21. The bank also decided to reduce annual interest rates o...

Lee Min-hyung | 2020-02-26 17:20

Virus-hit Korea urged to use expansionary policy

Korea's coronavirus cases may peak at 10,000 in mid-March: JP Morgan

Korea's coronavirus cases may peak at 10,000 in mid-March: JP Morgan

The escalating coronavirus crisis in Korea could reach a peak March 20 with as many as 10,000 infections, according to J.P. Morgan Chase.

Kim Bo-eun | 2020-02-26 16:21

Moon under mounting criticism over coronavirus responses

Virus-hit Korea urged to use expansionary policy

Virus-hit Korea urged to use expansionary policy

Korea should carry out an expansionary fiscal policy immediately to reduce the negative impact of the faster-than-expected spread of COVID-19 (2019-nCoV), according to overseas economic experts, Wednesday.

Park Jae-hyuk | 2020-02-26 15:52

State-run banks fight against virus

State-run banks fight against virus

Financial Services Commission (FSC) Chairman Eun Sung-soo, second from left, speaks to the heads of state-run banks at the Korea Federation of Banks headquarters in Seoul, Wednesday. The FSC chairman said incentives will be given to state-run lenders that support businesses facing difficulties from the coronavirus outbreak. From left are Korea Development Bank Chairman Lee Do...

Park Jae-hyuk | 2020-02-26 15:09

Tongyang, ABL Life's governance structure to remain unchanged

Tongyang, ABL Life's governance structure to remain unchanged

The corporate governance structure of Tongyang and ABL Life Insurance, owned by China's Dajia Insurance Group, will likely remain unchanged despite China's regulators' management of Dajia coming to an end last week.

Kim Bo-eun | 2020-02-26 13:29

Foreign investors swoop to Korean bonds on virus

Foreign investors swoop to Korean bonds on virus

Foreign investors are flocking to the safety of South Korean bonds after pulling out of stocks this year amid the spread of the new coronavirus, data showed Wednesday. Offshore investors held 129.7 trillion won (US$107 billion) worth of listed government and corporate bonds as of Monday, up about 6 trillion won from the end of last year, according to the data from the Financi...

2020-02-26 09:40

Korea's business sentiment slumps even before virus crisis erupts

Korea's business sentiment slumps even before virus crisis erupts

Korea's business sentiment slumps even before virus crisis erupts

South Korea suffered its worst fall in business sentiment in nearly 17 years due to the fast-spreading coronavirus, according to a central bank survey taken days before South Korea became the country with the largest number of cases outside China. The business sentiment index (BSI) for March was compiled from a survey of 3,242 corporate enterprises between Feb. 11-18, just be...

2020-02-26 09:30

Foreign investors swoop to Korean bonds on virus

Insurers seek overseas growth engine amid deadlock

Insurers seek overseas growth engine amid deadlock

Life insurers in Korea are turning their eyes to overseas territories to diversify their revenue streams, after their failure to find a silver lining in the local market amid sluggish economic growth here. The Korean insurance industry is trapped in a structural slowdown, as it is tough for market players to find new growth engines due to the conservative nature of the indust...

Lee Min-hyung | 2020-02-26 09:11

Korea urged to diversify trading partners amid virus scare

Korea urged to diversify trading partners amid virus scare

Korea should diversify trading partners to limit its vulnerabilities caused by the China-centered global value chain, according to economic think tank reports, Tuesday.

Lee Kyung-min | 2020-02-25 20:00

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