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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Thu, March 30, 2023 | 23:40

4 candidates nominated for Woori Bank CEO post

4 candidates nominated for Woori Bank CEO post

After Woori Financial Group swore in Yim Jong-ryong as its new chairman last week, attention is now focused on who will lead Woori Bank. The leading post at the banking subsidiary of Woori Financial Group has been empty for nearly a month, following the sudden resignation of former Woori Bank CEO Lee Won-duk early this month.

Anna J. Park | 2023-03-30 16:33

M&A consulting becomes largest source of profit in local financial advisory market

M&A consulting becomes largest source of profit in local financial advisory market

The size of the M&A advisory market has been growing fast in Korea during the past few years, taking up the largest proportion of annual financial consulting services in the country. The weight of corporate bond offerings, which used to be a key source of profit for the local investment banking (IB) sector until just a few years ago, has been visibly decreasing.

Anna J. Park | 2023-03-30 16:14

Regulator fines exchanges over irregular crypto trades

Regulator fines exchanges over irregular crypto trades

Financial authorities announced that Korea's five cryptocurrency exchanges have neglected their duty to monitor irregular crypto trading practices. These exchanges were fined and given disciplinary warnings and have been instructed to implement improvements within the next three months.

Lee Yeon-woo | 2023-03-30 16:14

Korea to scrap customs form for travelers without dutiable goods

Korea to scrap customs form for travelers without dutiable goods

Korea will no longer require international arrivals - both Korean and foreign nationals - to fill out customs forms starting in May if they are not carrying dutiable goods, the Korea Customs Service (KCS) said Thursday. The customs agency said the plan was initially scheduled to be implemented in July but will be brought forward by two months in line with the government's str...

Yi Whan-woo | 2023-03-30 15:56

College students turn to 1,000 won breakfast to beat inflation

College students turn to 1,000 won breakfast to beat inflation

College students burdened by inflation are enthusiastically praising the government's cheaply-priced breakfast policy. Dubbed the 1,000 won breakfast, this affordable meal typically includes rice, soup and several side dishes, all for just 1,000 won ($0.77).

Lee Yeon-woo | 2023-03-30 15:37

BOK's 2022 net dips on losses from securities trading

BOK's 2022 net dips on losses from securities trading

Korea's central bank Thursday reported a sharp drop in its net profit for last year due in part to increased losses from trading of securities.

2023-03-30 13:59

Banks' average capital adequacy ratio rises in Q4

Banks' average capital adequacy ratio rises in Q4

Korean banks saw their financial health improve on-year in the fourth quarter of last year from three months earlier due to a decrease in risk-weighted assets, data showed Thursday.

2023-03-30 13:59

Exports of instant noodles hit record high in 2022

Exports of instant noodles hit record high in 2022

Korea's exports of instant noodles reached an all-time high in 2022, boosted by the global popularity of Korean food and culture, data showed Thursday.

2023-03-30 11:32

Korea to ease entry rules to boost tourism, domestic spending

Korea to ease entry rules to boost tourism, domestic spending

Korea will temporarily exempt citizens of 22 visa-waiver countries from needing electronic travel authorization, simplifying entry procedures in a bid to boost tourism and spur domestic spending, the government said Wednesday. The government also said it will restore transit visa exemptions for travelers from 34 countries and allow them to stay here for up to 30 days.

Yi Whan-woo | 2023-03-29 17:02

Digital financial literacy lags among seniors, low-income earners

Digital financial literacy lags among seniors, low-income earners

Although Koreans' level of financial literacy has improved compared to 2020, their ability to navigate financial services with the skills needed to use digital technologies remains low, particularly among seniors and low-income earners, the Bank of Korea (BOK) reported on Wednesday.

Lee Yeon-woo | 2023-03-29 16:42

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