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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Thu, February 2, 2023 | 16:49

Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

The Korean economy contracted 0.4 percent in the fourth quarter of 2022 compared to the previous three months, with the twin engines of growth - private spending and exports - declining simultaneously amid a global economic slowdown, the Bank of Korea (BOK) said Thursday. This marks the first time since the second quarter of 2020 that the Korean economy shrank. GDP contracted...

Lee Min-hyung | 2023-01-26 15:40

FSS chief warns of stern action against opposition to normalizing banks' biz hours

FSS chief warns of stern action against opposition to normalizing banks' biz hours

A financial regulator chief on Thursday warned of stern action against labor unions opposing banks' plan to "normalize" their pandemic-caused shortened operation hours as the government is set to lift the indoor mask mandate later this month.

2023-01-26 15:09

FSS chief urges insurers to focus on stability

Korea's gas, coal imports hit record high in 2022: data

Korea's gas, coal imports hit record high in 2022: data

Korea's imports of gas and coal hit an all-time high last year on surging global energy prices, data showed Thursday.

2023-01-26 13:36

Gov't to double subsidies for vulnerable households as energy bills soar

Koreans stunned by spike in heating costs

Inflation expectations inch up in January amid continued monetary tightening

Inflation expectations inch up in January amid continued monetary tightening

Korea's inflation expectations inched up in January from a month earlier amid the Bank of Korea (BOK)'s continued monetary tightening to bring price growth under control, a central bank survey showed Thursday.

2023-01-26 08:38

Korea's economic growth slows to 2.6% in 2022 on weak exports

Korea's economic growth slows to 2.6% in 2022 on weak exports

Korea's economy grew at a slower pace in 2022 as export growth slumped amid economic recession woes, central bank data showed Thursday.

2023-01-26 08:25

[Contribution]Gender diversity makes companies strong

ContributionGender diversity makes companies strong

It may be hard to believe, but banks in the 1970s had a system requiring female employees to sign a written promise stating that “only unmarried women can work here.” Back then, foreign banks allowed women to keep working after marriage, but their counterparts at domestic banks struggled with severe gender inequality. Bank employees were hired separately - men as “regular ban...

2023-01-26 08:20

Seoul shares close more than 1% higher on tech gains

Seoul shares close more than 1% higher on tech gains

Seoul stocks closed more than 1 percent higher Wednesday on tech gains, as investors were hopeful that the U.S. Federal Reserve could ease the pace of rate increases. The Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) climbed 33.31 points, or 1.39 percent, to 2.428.57.Trading volume was moderate at 539.8 million shares worth 6....

2023-01-25 21:02

Major Korean banks' overseas branches sanctioned by foreign authorities

Major Korean banks' overseas branches sanctioned by foreign authorities

Major local banks' overseas legal entities were sanctioned or fined by foreign financial authorities for various reasons last year, raising concerns about whether the banks are successfully maintaining internal controls in their overseas operations.

Anna J. Park | 2023-01-25 17:00

Mirae Asset Global Investments' solid performance highlighted amid economic slump

Mirae Asset Global Investments' solid performance highlighted amid economic slump

Despite the deteriorating economic outlook worldwide, Mirae Asset's global business has proven its competitiveness especially in times of crisis.

Yoon Ja-young | 2023-01-25 16:59

Unison Capital, MBK consortium to take over Osstem Implant

Unison Capital, MBK consortium to take over Osstem Implant

News of private equity firms planning to acquire the management rights of Osstem Implant caused shares of the dental implant material manufacturer to soar Wednesday. Osstem Implant is one of the world's largest dental implant makers.

Anna J. Park | 2023-01-25 16:02

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