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Finance

Sun, July 3, 2022 | 13:50

Luna collapse causes chaos

The collapse of the Terra and Luna cryptocurrencies is causing chaos around the world, triggering a domino effect of sequential defaults from companies that invested in the ill-fated stablecoin and its sister token. Three Arrows Capital, a Singapore-based crypto investment company, defaulted on Monday after failing to repay more than $670 million in crypto loans. Earlier, the...

2022-06-29 15:30

Meritz Asset CEO offers to quit amid controversy

Meritz Asset Management CEO John Lee has offered to step down following allegations that he violated the capital market law while managing the firm's peer-to-peer (P2P) private equity fund. Lee has led the asset management firm since 2014 and extended his term three times. His current term expires at the end of March next year, but he appears to have chosen to resign from the...

2022-06-29 15:01

Int'l tribunal brings to close decade-long Korea-Lone Star dispute

An international tribunal declared an end to all proceedings in a multi-billion dollar suit U.S. private equity firm Lone Star filed against Korea's government 10 years ago over disputes surrounding its asset sell-off, according to the justice ministry Wednesday.

2022-06-29 15:01

[INTERVIEW] NH Investment & Securities accelerating growth in Hong Kong

HONG KONG - Korean financial firms are seeking to expand overseas operations as they face limits in the domestic market. But as relative latecomers and foreign entities, overseas expansion has proven a difficult task due to substantial barriers to entering overseas markets that are dominated by larger existing players. NH Investment & Securities, which has been in Hong Kong s...

2022-06-29 14:30

ABL Life Insurance simplifies claims process for senior customers

Making insurance claims can be a complicated process, especially for those unfamiliar with digital technologies. ABL Life Insurance is making efforts to bring down this barrier, especially for elderly customers who have had problems making claims through the firm's mobile app. ABL Life Insurance launched its “digital hybrid insurance claim service” in April, which enables cus...

2022-06-29 14:07

BOK likely to lean more toward 'big-step' rate hike if June inflation hits 6%

Demand for an unprecedented "big-step" rate hike among policymakers at the Bank of Korea (BOK) will likely intensify ahead of an upcoming rate-setting meeting should the country's consumer prices rise 6 percent or higher in June, according to a high-ranking central bank official.

2022-06-29 09:57

[INTERVIEW] 'Asia-Pacific region has potential to lead global decarbonization sector'

One of the most noticeable changes in the global business scene in recent years is that the so-called environmental, social and corporate governance (ESG) principles have evolved from a rhetoric put forth by mostly non-profit organizations into a core business strategic consideration by competitive companies around the world.

Anna J. Park | 2022-06-29 08:41

Inflation expectations in S. Korea hit 10-year high in June

Inflation expectations in Korea hit the highest level in about a decade in June amid worries that prices are fast increasing due to high energy and commodity costs, a central bank report showed Wednesday.

2022-06-29 08:39

Hyundai Card opens first digital office

Hyundai Card opened its first digital office in Seoul to enhance employees' work efficiency by relieving the burden of commuting they face, the company said Tuesday. The office is located in the nation's densest business district near Gangnam Station in southern Seoul. Equipped with video-conferencing booths and a variety of spaces for working, meetings and rest, it serves as...

2022-06-28 17:01

Hike in utility fees feared to have domino effect on inflation

Hikes in utility fees, including a sharper-than-expected increase in the electricity rate, Monday, are stirring up concerns of heightened inflation reminiscent of the Asian financial crisis in the late 1990s.Analysts said Tuesday that such an unwanted domino effect can push the annual inflation rate above 5 percent, which is higher than the mid to upper 4 percent range foreca...

2022-06-28 16:55

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