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Finance

Sun, July 3, 2022 | 15:22

Meeting with top financial regulator

Financial Supervisory Service (FSS) Governor Lee Bok-hyun, front row sixth from left, poses with CEOs of securities firms and asset management companies before a meeting held at Yeouido, Seoul, Tuesday. In his first meeting with the heads of the financial investment industry, Lee urged them to focus on risk management. Yonhap

Yoon Ja-young2022-06-28 16:50

Toss Bank draws over 3.6 million customers

Since Toss Bank was launched last October as the country's third internet-only bank, it has succeeded in attracting 3.6 million customers in just nine months. More than 2.5 million customers have been added this year alone, and the number of customers has tripled during the past six months.

Anna J. Park | 2022-06-28 16:39

KB Kookmin Bank mulls further capital increase for Indonesian subsidiary

KB Kookmin Bank might need to inject additional capital into its Indonesian subsidiary, Bank KB Bukopin, as the Southeast Asian country's financial authority urged Seoul's Financial Supervisory Service (FSS) to cooperate on reducing Bank KB Bukopin's debts. According to the financial industry, Tuesday, the Indonesian financial authority has stressed the need to get rid of the...

Anna J. Park | 2022-06-28 16:10

Korea on track to cut dependency on China for rare earths

HONG KONG - South Korea's decision to join a U.S.-led pact on mineral supply helps satisfy a “definite need” to cut dependency on China for key resources, including rare earths, analysts said. Securing key resources has become a core task for major economies around the world, as minerals are a crucial element incorporated into cutting-edge technologies, green energy and natio...

Kim Bo-eun | 2022-06-28 14:09

Korea's overseas financial assets hit new high in 2021

Korea's overseas financial assets hit a new high in 2021 thanks largely to a jump in investment in U.S. stocks, central bank data showed Tuesday.

2022-06-28 14:05

NongHyup Bank expands Dokdo-themed metaverse platform

NongHyup Bank opened doors wider for its metaverse platform, “Dokdo-Verse,” turning it into an open beta service. “Dokdo-Verse” is a virtual space themed on the group of Korea's easternmost islets, Dokdo, where users can create their avatars and complete various missions, such as picking up litter or visiting a trekking trail. The bank jointly launched the test service with f...

Yoon Ja-young2022-06-28 13:56

PM calls for measures to stabilize inflation

Prime Minister Han Duck-soo called for ministers to come up with measures to help stabilize inflation Tuesday, noting that soaring prices are hurting consumers' pocketbooks.

2022-06-28 11:25

Finance chief calls for corporate restraint on 'excessive' wage increases amid inflation woes

Finance Minister Choo Kyung-ho asked companies Tuesday to refrain from excessively raising wages for employees as the move could further accelerate inflation.

2022-06-28 10:47

Korean currency rises by most in 1 month amid eased recession fears

The Korean currency rose by the most against the U.S. dollar in about a month Monday as expectations that the Federal Reserve may slow its aggressive monetary tightening eased concerns about a global economic recession.

2022-06-27 17:10

Woori pledges to cooperate with watchdog over suspicious forex trading

Woori Bank has been internally investigating suspicious foreign exchange trades totaling 800 billion won ($624.26 million) at its sales office and has reported the case to the Financial Supervisory Service for further investigation. The transactions were made through multiple corporate accounts, according to the lender. The sales office in Seoul has been looking into the case...

Lee Min-hyung | 2022-06-27 17:05

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