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Asia

The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Fri, March 31, 2023 | 14:38

Will dismantling oligopoly result in successful bank industry reform?

Will dismantling oligopoly result in successful bank industry reform?

The government's drive to dismantle Korea's oligopolistic banking industry structure is raising questions over the consequences of such reforms in the face of increasing turmoil in global financial markets this month. Financial authorities want to dismantle the market dominance held by a handful of large banks by bringing in more competition, in a bid to prevent mainstream pl...

Yi Whan-woo | 2023-03-29 09:06

[INTERVIEW] Can art become stable investment source?

INTERVIEWCan art become stable investment source?

If you could invest $10 for a chance to own a portion of a painting by Yayoi Kusama, one of the most important Asian artists in the contemporary art world, would you do it? For many young art lovers in Korea, the answer is a resounding yes.

Lee Yeon-woo | 2023-03-29 08:26

Financial industry opposes gov't's move to revamp reward system

Financial industry opposes gov't's move to revamp reward system

Financial industry players here are expressing regret over what they call “unrelenting and unilateral” government demands to revamp reward systems. After banks chalked up record earnings last year on global interest hikes, President Yoon Suk Yeol and his administration stepped up pressure on lenders, criticizing their excessive earnings growth driven mostly by their widened l...

Lee Min-hyung | 2023-03-28 16:53

Over 1,000 financially vulnerable Koreans apply for new emergency gov't loans

Over 1,000 financially vulnerable Koreans apply for new emergency gov't loans

On Tuesday morning, a man in his 60s sighed as he pressed the button for the elevator in front of the Korea Inclusive Finance Agency in Seoul. Looking exhausted, he was holding several documents received during a consultation with the agency. He had just applied for an emergency loan offered by the government.

Lee Yeon-woo | 2023-03-28 16:34

2024 budget to focus on tackling low birthrate

2024 budget to focus on tackling low birthrate

The government announced on Tuesday that it is prioritizing tackling the low birthrate in an “engaging and thorough manner” in drawing up next year's budget amid snowballing concerns over a looming demographic crisis. The budget will also be spent on labor, education and pension reforms.

Yi Whan-woo | 2023-03-28 16:33

Gold price nears all-time high amid financial jitters

Gold price nears all-time high amid financial jitters

The price of gold has been rising amid increased uncertainty hovering over the global financial banking sector. While the global price of the precious metal nears its record high reached during the summer of 2020, its trading price at the Korea Exchange (KRX) gold market hit an all-time high recently.

Anna J. Park | 2023-03-28 16:06

Samsung Pay partners with Hana Financial to issue student IDs

Samsung Pay partners with Hana Financial to issue student IDs

Samsung Pay can now feature a student ID in its mobile application, as it partners with Hana Financial Group to strengthen its digital wallet functions. The move is part of a series of steps Samsung Pay is taking to expand its versatility, following Apple Pay's recent launch in Korea.

Anna J. Park | 2023-03-28 16:05

PM calls for utmost efforts to boost exports

PM calls for utmost efforts to boost exports

Prime Minister Han Duck-soo on Tuesday urged South Korean diplomatic mission chiefs to make utmost efforts to help local firms increase exports and address supply chain disruptions.

2023-03-28 14:58

Trade terms continue to fall in February in faster export price fall

Trade terms continue to fall in February in faster export price fall

Korea's terms of trade worsened for the 23rd straight month in February as export prices fell faster than import prices, central bank data showed Tuesday.

2023-03-28 14:19

Wage workers' debt rises 7%; loans to young people jump 15% in 2021

Wage workers' debt rises 7%; loans to young people jump 15% in 2021

Debt held by South Korean wage workers in their 20s jumped 15 percent on-year in 2021, much higher than 7 percent growth on average for all wage workers, data showed Tuesday.

2023-03-28 14:19

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Top 10 Stories

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3	Korea to scrap customs form for travelers without dutiable goods

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8	INTERVIEWSouth Korea needs to make decision on sending lethal aid to Ukraine : CNAS CEO

9	Japanese top visitors to Korea in 2023 as tourism rebounds

10	Chun Doo-hwan's grandson to visit May 18 National Cemetery

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