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Finance

Sat, December 4, 2021 | 05:24

Bank of Korea raises key rate to 1 pct to tame inflation, household debt

Korea's central bank Thursday raised its key policy rate to fight inflation and household debt, ending 20 months of the zero rate range put in place to stimulate the pandemic-hit economy. As widely expected, the monetary policy board of the Bank of Korea (BOK) voted to raise the benchmark seven-day repo rate by 0.25 percentage point to 1 percent. The hike put an end to 20 mon...

2021-11-25 09:48

Naver Financial set to replace scandal-ridden CEO

Naver Financial CEO Choi In-hyuk, who is being held morally responsible for the death of a Naver programmer who killed himself in May after suffering from workplace harassment, will be relieved from the position in the fintech firm's forthcoming executive reshuffle, according to sources and media reports, Wednesday.

Park Jae-hyuk | 2021-11-24 16:23

Kosdaq vulnerable to fake news

Easier methods of spreading fake news are enabling more frequent price manipulations of stocks listed on the tech-heavy Kosdaq market, which have relatively lower market capitalization and trading volume compared to the benchmark KOSPI market.

Park Jae-hyuk | 2021-11-24 15:55

Korea closer to legislating criminal punishment for crypto irregularities

Financial authorities are seeking to punish criminally those involved in illicit cryptocurrency trading, in a move to rein in the thriving digital asset market that remains tax-free, despite investors' hefty gains over the past few years.

Lee Kyung-min | 2021-11-24 15:47

Imports of golf equipment at record high in first 10 months of this year

South Korea's imports of golf equipment rose to a record high in the first 10 months of this year on the back of strong demand amid the pandemic, customs data showed Wednesday.

2021-11-24 10:27

NN Investment Partners optimistic about Korea's IT sector

NN Investment Partners (NNIP) expressed an optimistic outlook for Korea's electronics consumer goods and software industries, regarding the IT sector as having long-term relevance which has also benefited from the ongoing supply chain issue and fiscal stimulus measures.

Park Jae-hyuk | 2021-11-23 16:58

Financial regulators inspect Celltrion for alleged accounting fraud

The Financial Services Commission (FSC) is now looking at the results of a three-year investigation by the Financial Supervisory Service (FSS) into alleged accounting fraud by Celltrion.The FSS began investigating the biopharmaceutical company after three-term ruling Democratic Party of Korea (DPK) lawmaker Lee Hack-young alleged, during a National Assembly annual audit in Oc...

Anna J. Park | 2021-11-23 16:52

FSS chief meets with CEOs of top brokerages

Financial Supervisory Service (FSS) Governor Jeong Eun-bo, fifth from left, held a meeting with CEOs of local brokerage firms at the Kensington Hotel, in Seoul's financial district, Yeouido, Tuesday. During the meeting, Governor Jeong urged the CEOs to put priority on consumer protection, stable operations as well as savvy risk management amid the growing global uncertainty. ...

Anna J. Park | 2021-11-23 14:08

SC First Bank to hold promotional events for large deposit holders

SC First Bank announced Tuesday that it will hold a promotional event until the end of the year to increase the number of new customers with large bank balances.

2021-11-23 13:57

Major companies cut jobs amid pandemic

Large South Korean companies have cut their combined workforce by more than 1 percent over the past two years amid the coronavirus pandemic, a corporate tracker said Tuesday.

2021-11-23 09:07

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