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Finance

Wed, September 23, 2020 | 03:11

Kiwoom's suspended fund run by chairman's daughter

Kiwoom's suspended fund run by chairman's daughter

Another major suspension of redemptions of mutual funds took place in the nation, as Kiwoom Asset Management and VI Asset Management announced their decision to temporarily halt withdrawals from some of their funds.

Anna J. Park | 2020-09-09 17:10

Unclear eligibility for 2nd emergency relief fans concerns

Unclear eligibility for 2nd emergency relief fans concerns

Debate continues over the government's plan to help low-income earners hit hard by the COVID-19 pandemic for its lack of clear eligibility guidelines on seeking up to 2 million won ($1,680) in cash-equivalent assistance.

Lee Kyung-min | 2020-09-09 17:07

Virus exacerbates job market woes

Virus exacerbates job market woes

The COVID-19 pandemic continued to trouble the Korean job market in August, illustrated by the monthly job loss extending for the sixth consecutive month, a record-long continuation since the period from January to August in 2009 in the aftermath of the global financial crisis.

Lee Kyung-min | 2020-09-09 17:06

Will Samsung Life be regulator's next target?

Will Samsung Life be regulator's next target?

Samsung Life Insurance is awaiting news of whether the nation's largest life insurer will face sanctions from the Financial Supervisory Service (FSS), as the results of a regular inspection carried out on the firm in 2019 are expected to be announced soon. Industry watchers said the Samsung affiliate would remain more than nervous over the result, as Hanwha Life Insurance, an...

Lee Min-hyung | 2020-09-09 17:03

NH-Amundi main beneficiary of Moon administration

NH-Amundi main beneficiary of Moon administration

NH-Amundi Asset Management has become a rising star under the Moon Jae-in administration for its preemptive efforts to keep pace with major government policies.

Park Jae-hyuk | 2020-09-09 15:24

Banks' household loans increase by record amount in August

Banks' household loans increase by record amount in August

South Korean banks' household loans increased by the largest amount on record in August amid rising home prices and a rally in the stock market, central bank data showed Wednesday. Outstanding bank loans to local households came to 948.2 trillion won (US$796.9 billion) as of end-August, up 11.7 trillion won from the previous month, according to the data from the Bank of Korea...

2020-09-09 14:50

Korea loses 274,000 jobs in August

Korea loses 274,000 jobs in August

South Korea lost about 274,000 jobs in August, marking a decline in the number of the employed for the sixth consecutive month, as the coronavirus pandemic hammered job markets, data showed Wednesday. The country's jobless rate rose by 0.1 percentage point on-year to 3.1 percent in August, with the number of employed people falling to 27.08 million, according to the data comp...

2020-09-09 11:38

Gov't to draw up fourth extra budget for virus relief this week

Gov't to draw up fourth extra budget for virus relief this week

South Korea will draw up the fourth extra budget this week to give emergency handouts to low-income people and small merchants hit by a recent resurgence of the new coronavirus, Finance Minister Hong Nam-ki said Wednesday. The fourth extra budget will focus on providing relief funds to vulnerable people, Hong said in a Facebook post.

2020-09-09 09:26

Korean stock investors swoop on Tesla in H2

Korean stock investors swoop on Tesla in H2

Electric vehicle leader Tesla Motors Inc. has been South Korean investors' most-bought issue among foreign shares since July amid an overseas stock buying craze here, data showed Wednesday. Domestic investors bought a net US$1.56 billion worth of Tesla shares between July 1 and Tuesday, according to the data from the Korea Securities Depository.

2020-09-09 09:03

Bank of Korea to buy W5 tril. worth of state bonds

Bank of Korea to buy W5 tril. worth of state bonds

The Bank of Korea (BOK) said Tuesday it plans to buy state bonds worth 5 trillion won ($4.2 billion) directly from the market by the end of this year in a bid to stabilize the debt market.The move is aimed at tackling potential market jitters and easing a sharp rise in market rates in a preemptive manner as the government is expected to increase bond issuance, the BOK said in...

2020-09-08 18:06

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