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Finance

Thu, February 2, 2023 | 16:21

Time for foreign workers to file year-end taxes

Time for foreign workers to file year-end taxes

Wage-earning foreign workers should settle year-end taxes just like Korean workers, the tax agency said Wednesday. The agency is providing various materials to support them in filing their taxes, including a short video guide with English, Chinese and Vietnamese subtitles.

Yoon Ja-young2023-01-18 13:47

Is Apple Pay's Korea launch imminent?

Is Apple Pay's Korea launch imminent?

It seems Apple Pay's long-awaited official launch in Korea is expected to take place as soon as next month. Some people estimate that the launch date will be Feb. 8, and here's why.

Anna J. Park | 2023-01-17 17:04

KOFIA's new chief vows to cooperate with authorities to support market liquidity

KOFIA's new chief vows to cooperate with authorities to support market liquidity

Seo Yoo-seok, who was sworn in as the 6th president of the Korea Financial Investment Association (KOFIA) in late December, vowed to cooperate closely with financial authorities to support necessary market liquidity in times of increased economic uncertainty.

Anna J. Park | 2023-01-17 16:54

Growth of bank notes in circulation lowest in 18 years

Growth of bank notes in circulation lowest in 18 years

People who can afford to save money prefer to park their cash in bank deposit accounts these days rather than stashing them at home, in order to take advantage of a sharp increase in the key interest rate, according to Bank of Korea (BOK) data released on Tuesday. The data showed the aggregate value of bank notes in circulation, excluding those that were deposited in banks an...

Yi Whan-woo | 2023-01-17 16:26

Woori to select chairman candidates Thursday

Woori to select chairman candidates Thursday

Woori Financial Group will convene a meeting, Thursday, to select a pool of candidates for its new chairman, the banking group said Tuesday. The meeting comes as incumbent Chairman and CEO Son Tae-seung's term ends in March.

Yi Whan-woo | 2023-01-17 15:41

KOSPI New Year rally contrasts with bearish performance in 2022

KOSPI New Year rally contrasts with bearish performance in 2022

Korea's main benchmark, the KOSPI, is reversing last year's bearish performance, as it continues its upward trend since the start of the new year. According to the Korea Exchange (KRX), the KOSPI index rose by 6.69 percent during the first two weeks of January, putting it at eighth among the G20 countries' main benchmark bourse operators for the same period. The main benchmar...

Anna J. Park | 2023-01-16 17:00

Stock traders set to face fines in Korea for unfair practices

Stock traders set to face fines in Korea for unfair practices

People engaging in unfair trading activities in the local capital market will face fines of up to five times the profits they gained. The Financial Services Commission (FSC) said Monday that it agreed on a revision act for the capital market and financial investment business presented by Rep. Yoon Kwan-seok and Rep. Park Yong-jin of the main opposition Democratic Party of Kor...

Lee Min-hyung | 2023-01-16 16:58

Gov't expected to ease rules on dollar remittance

Gov't expected to ease rules on dollar remittance

The Korean government is mulling over whether to lift its long-held restrictions on foreign currency remittance as early as the second half of next year. The move comes as the government aims to enact a new legal framework regarding foreign exchange transactions better suited to global trends and standards.

Anna J. Park | 2023-01-16 16:42

Prices outpace incomes in Korea

Prices outpace incomes in Korea

Consumer prices in Korea have grown at a faster pace than the minimum wage for nearly the past two years, prompting the real value of the minimum wage to fall, data showed on Monday. Compiled by the Organisation for Economic Cooperation and Development (OECD) and Statistics Korea, the data showed that the minimum wage in September 2022 was measured at 106.6, as compared to th...

Yi Whan-woo | 2023-01-16 15:51

Number of fake banknotes hits record low in 2022 on increased non-cash transactions

Number of fake banknotes hits record low in 2022 on increased non-cash transactions

The number of fabricated Korean banknotes hit a record low in 2022 on increased non-cash transactions amid the pandemic, central bank data showed Monday.

2023-01-16 14:56

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