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Finance

Wed, July 8, 2020 | 19:34

S. Korea's household debt soars at an alarming pace: data

S. Korea's household debt soars at an alarming pace: data

The ratio of the country's household debt to GDP reached 95.5 percent in the fourth quarter of 2019, up 1.6 percentage points from 93.9 percent the previous year, according to data provided by the Bank of International Settlements (BIS).

2020-06-21 14:03

Seoul stocks likely to stay range-bound next week amid virus fears

South Korean shares are expected to move in a tight range next week, due to concerns over the further spread of the coronavirus and North Korea's additional provocations. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,141.32 points Friday, up 0.42 percent from a week ago.

2020-06-20 16:14

Gov't to loan W 5 tril. to key industries' small partner firms

Gov't to loan W 5 tril. to key industries' small partner firms

In an effort to help ailing domestic parts suppliers to the country's top-tier conglomerates for use in automotives, airplanes, steel and ships crucial to the country's economy, the government decided to offer them 5 trillion won in loans ($4.1 billion).

Lee Kyung-min | 2020-06-19 17:23

Financial authorities work together for 3rd expansionary budget

Financial authorities work together for 3rd expansionary budget

Financial authorities are joining forces to push for early passage of the third expansionary budget, urging the National Assembly to confirm the timely execution of the budget.

Lee Min-hyung | 2020-06-19 17:02

Real estate regulations strengthen 'balloon effect'

Real estate regulations strengthen 'balloon effect'

The government's stronger real estate regulations are expanding the “balloon effect” across the country by increasing apartment prices in some regulation-free areas northeast of Seoul, according to real estate experts. The Ministry of Economy and Finance introduced the latest regulatory measures on Wednesday, with a view to stabilizing steeply soaring housing prices not just ...

Lee Min-hyung | 2020-06-19 16:36

Finance minister renews calls for parliamentary approval of third extra budget

Finance minister renews calls for parliamentary approval of third extra budget

Finance Minister Hong Nam-ki on Friday renewed calls for the National Assembly to approve the third extra budget to help revive the virus-hit economy, saying the government will spare no efforts to achieve positive growth this year. Earlier this month, South Korea proposed its third extra budget of 35.3 trillion won (US$29 billion) meant to help key industries cushion the eco...

2020-06-19 11:00

Woori privatization likely to back in limbo

Woori privatization likely to back in limbo

The government is facing a bumpy road ahead in its attempt to fully privatize Woori Financial Holdings due to its lackluster stock price amid the growing market volatility triggered by the COVID-19 pandemic.

Kim Bo-eun | 2020-06-19 09:09

'Insurance agents will survive digital disruption'

'Insurance agents will survive digital disruption'

Boundaries in the insurance industry are increasingly disappearing between insurers, fintech players and general agencies that sell insurers' policies.

Kim Bo-eun | 2020-06-18 17:34

Flower basket challenge

Flower basket challenge

KB Securities co-CEOs Kim Seong-hyeon, second from left, and Park Jeong-rim, third from left, pose after taking part in a flower basket challenge to support floriculturists afflicted by COVID-19, at the brokerage's headquarters on Yeouido, Seoul, Tuesday. The purchased flowers will be delivered to hospitals designated to treat COVID-19 patients. / Courtesy of KB Securities

Kim Bo-eun | 2020-06-18 17:29

Koreans' life satisfaction deteriorating

Koreans' life satisfaction deteriorating

The happiness level among Koreans has seemingly been decreasing as fewer were satisfied with their lives in 2019, while more were feeling a sense of isolation, according to a recent survey. In the poll of 8,000 people aged 19 to 69 between Sept. 1 and Oct. 31 in 2019, Statistics Korea found that 60.7 percent were satisfied with their lives, down 3 percentage points from the p...

Lee Kyung-min | 2020-06-18 17:13

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