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Finance

Tue, October 26, 2021 | 17:58

Korea less likely to post 4 percent GDP growth

Korea is feared to miss its GDP growth target of 4 percent this year, data showed Tuesday, due to a pandemic-sparked slowdown in private consumption and escalating uncertainties surrounding global supply bottlenecks.

Kim Yoo-chul | 2021-10-26 17:05

Early enforcement of strict lending rules raises concerns

Concerns have emerged over the government's announcement on Tuesday that tightened lending rules will take effect six months earlier than initially planned. The forthcoming regulations are intended to prevent the nation's snowballing level of household debt from dealing a blow to the domestic economy, but borrowers and financial experts have criticized the plan especially for...

Park Jae-hyuk | 2021-10-26 16:35

Gap between rich and poor widens during pandemic

The gap between the rich and poor has widened precipitously during the COVID-19 pandemic. While the poor are being pushed closer to the edge, the value of assets owned by the rich has soared during the same period.

Anna J. Park | 2021-10-26 15:43

Korea's yearly trade volume tops $1 trillion at fastest pace ever

South Korea's trade volume for this year surpassed the $1 trillion mark Tuesday on the back of solid export growth amid the global recovery from the pandemic, reaching the milestone at the fastest pace ever, the trade ministry said.

2021-10-26 15:09

Korea's economy grows estimated 0.3% on-quarter in Q3

International conference on green finance

Financial Supervisory Service (FSS) Governor Jeong Eun-bo, fourth from left, poses with participants in an international conference on green finance at Ewha Womans University in Seoul, Tuesday. He said in his opening remarks that a green transition is needed to respond to climate ...

Park Jae-hyuk | 2021-10-26 13:20

Sookmyung Women's University to construct 'metaverse' campus

Participants in a memorandum of understanding signing ceremony for the construction of Sookmyung Women's University's “metaverse” campus pose at the university in Seoul, Monday. From the right are Shinhan Bank's digital group chief Jun Pil-hwan, Sookmyung Women's University President Chang Yun-keum, LG Uplus CEO Hwang Hyeon-sik and Mammo6 CEO Yoo Chul-ho. Shinhan ...

Park Jae-hyuk | 2021-10-26 12:51

Gov't to speed up enforcement of stricter lending rules to rein in household debt

South Korea said Tuesday it will enforce stricter lending rules based on borrowers' repayment capability at an earlier date than initially scheduled to curb soaring household debt that has emerged as one of the most serious potential risks on the economy.

2021-10-26 11:06

Gov't to temporarily cut fuel taxes by 20%

The government will temporarily cut fuel taxes by 20 percent starting next month to cope with inflation concerns amid rising oil prices, the chief policy maker of the ruling Democratic Party said Tuesday. Rep. Park Wan-joo, who heads the party's policy planning committee, said the government and the ruling party have agreed to a plan to lower taxes on gasoline, diesel and liq...

2021-10-26 09:13

Korea's economy grows estimated 0.3% on-quarter in Q3

South Korea's economy is estimated to have grown 0.3 percent on-quarter in the third quarter, central bank data showed Tuesday, raising worries it will not be able to achieve an earlier projected growth outlook of 4 percent for this year.

2021-10-26 09:13

Korea's yearly trade volume tops $1 trillion at fastest pace ever

Kakao Pay affirms trust in AliPay

A top executive at Kakao Pay dismissed concerns that its share price could suffer from imminent market overhang as its No. 2 stakeholder, China's AliPay, won't unload its stakes held in the Korean company.

Kim Yoo-chul | 2021-10-25 15:57

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