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Finance

Sat, October 23, 2021 | 13:57

[Contribution] What ails Korea's housing market?

Since 2018, Korea has witnessed rapidly rising housing prices, particularly in the Seoul metropolitan area, resulting in growing concerns among policymakers and homeowners alike. Housing prices in Korea have increased by nearly 20 percent since January 2020, and a house can now cost more than 10 times the average annual household income. The problem is even more acute in the ...

Lee Kyung-min | 2021-10-23 09:00

Kakao Pay IPO clouded by overhang, overvaluation issues

Kakao Pay, the payment subsidiary of IT giant Kakao Corp, is coming under stock overhang pressure, due to the possible release of up to over 37.12 million shares held by Alipay, an online payment platform operated by China's Ant Financial upon Kakao Pay's planned initial public offering (IPO) next month.

Lee Kyung-min | 2021-10-22 17:01

[Reporter's Notebook] Korea should speed up discussion on bitcoin ETF launch

The recent launch of bitcoin futures exchange-traded funds (ETF) in the U.S. is a stark reminder of how far Korea is lagging behind its global peers in discussions over the development of a digital financial market, bogged down in large part by nervous policymakers, regulators and legislators questioning the validity of digital currency.

Lee Kyung-min | 2021-10-22 16:38

Leaders of KB, Woori set to see terms extended based on solid earnings

The leaders of KB Kookmin Bank and Woori Bank are expected to have their terms extended after driving solid earnings growth despite the prolonged shock of the COVID-19 pandemic.

Lee Min-hyung | 2021-10-22 16:11

Bank of Korea expected to revise down 2022 GDP growth forecast

The Bank of Korea (BOK) is expected to lower its 2022 GDP growth forecast below 3 percent due to downside risks facing the country, including continued supply chain bottlenecks, prolonged power shortages in China and the possible downsizing of growth predictions for the world's second largest economy.

Lee Min-hyung | 2021-10-22 15:19

Korea to temporarily cut fuel taxes amid rising oil prices

South Korea plans to temporarily cut fuel taxes in a bid to ease upward pressure on inflation amid surging oil prices, a senior government official said Friday.

2021-10-22 09:50

IMM PE primes pump for Able C&C deal

IMM Private Equity (IMM PE) is accelerating efforts to bolster the corporate value of Able C&C, a Seoul-based cosmetics and household goods manufacturer, in hopes of turning the loss-reporting firm into another success story in the local mergers and acquisitions (M&As) market, following Hollys Coffee.

Lee Kyung-min | 2021-10-21 16:56

Starbucks under scrutiny of financial watchdog

Starbucks Coffee Korea has been included in the Financial Supervisory Service's (FSS) inspection of the financial soundness of 58 digital cash issuers that are not registered as electronic financial business operators, the financial watchdog said Thursday.

Park Jae-hyuk | 2021-10-21 16:51

Bank of Korea, financial authorities responsible for household debt: BOK chief

The Bank of Korea (BOK) and financial authorities should bear collective responsibility for the surging household debt and widening financial imbalance here, BOK Governor Lee Ju-yeol said Thursday during a National Assembly audit.

Lee Min-hyung | 2021-10-21 16:43

Bitcoin storms above $66,000 for first time

Bitcoin stormed above $66,000 for the first time on Wednesday, riding a wave of excitement about how the financial establishment is increasingly accepting the digital currency's rise.

2021-10-21 11:42

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