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Finance

Mon, October 3, 2022 | 13:57

Korea seeks to attract investment from Saudi oil money

Saudi Arabia's sovereign wealth funds seek investment opportunities in Korea, particularly in the area of gaming and cultural sectors, as they paid a visit to Korea this week. According to the Seoul Metropolitan Government, the city and “Invest Seoul ― the metropolitan government's investment arm ― invited key officials of two Saudi sovereign wealth funds to stay in Seoul fro...

Anna J. Park | 2022-09-21 16:47

Financial regulator to investigate solar energy loans

The Financial Supervisory Service (FSS) has started looking into allegations of bad loans related to solar energy development during the former President Moon Jae-in administration. The FSS said Wednesday it is planning to look into banks'detailed records regarding their approved loans related to solar energy development since 2017.

Anna J. Park | 2022-09-21 16:22

Fed may not open standing currency swap line exclusively with Korea: US economist

Maurice Obstfeld, a renowned U.S. economist, said Wednesday the opening of a currency swap line will help stabilize the foreign exchange market but voiced doubts about the possibility of the U.S. clinching a standing swap line deal exclusively with Korea.

2022-09-21 15:19

Dunamu ready to discuss new blockchain paradigm at UDC 2022

BUSAN ― Dunamu is all set to put on the agenda the next blockchain paradigm during the Upbit Developer Conference (UDC) 2022, which will kick off its two-day run in the nation's southern port city of Busan from Thursday. The annual blockchain conference ― hosted by the operator of Korea's leading cryptocurrency exchange ― is one of the largest of its kind here. Dunamu expects...

2022-09-21 14:54

K bank unlikely to go public in 2022

K bank's much-anticipated initial public offering (IPO) is not in sight by the end of 2022, even after the internet-only bank won the qualification to go public on the local stock market. The Korea Exchange's listing notification committee confirmed Tuesday that the bank is qualified for listing here. Given that the qualification is effective for the next six months, K bank h...

2022-09-21 14:06

POSCO Chemical, OCI begin construction of joint factory for battery coating material

POSCO Chemical, a Korean producer of advanced materials, said Wednesday the construction began for a domestic plant to produce a key coating material used in secondary batteries under a joint venture with chemical company OCI.

2022-09-21 10:47

Exports down 8.7% during first 20 days of September

Korea's exports fell 8.7 percent on-year in the first 20 days of September due mainly to fewer working days over the Chuseok holiday, data showed Wednesday.

2022-09-21 10:07

ADB cuts 2023 growth outlook for Korean economy to 2.3%

The Asian Development Bank (ADB) on Wednesday slashed its 2023 growth outlook for the Korean economy to 2.3 percent amid growing concerns that monetary tightening in the United States and other major countries will likely slow down global economic growth.

2022-09-21 09:44

KIC posts worst investment loss during H1

The Korea Investment Corporation (KIC), a sovereign wealth fund in the country, posted its worst investment loss in its asset evaluation for the first half of this year. According to data submitted by the KIC to Rep. Yang Kyung-sook of the main opposition Democratic Party, the KIC logged a 13.83 percent investment loss during the first six months of this year.

Anna J. Park | 2022-09-20 16:49

Forecast of inflation peaking in October called into question

High inflation in Korea is supposed to finally start to peak in October as addressed by the finance minister and central bank governor. But such an outlook for an inflation peak is seriously threatened, due mainly to soaring import prices driven by the persistently strong dollar, a possible surge in global oil prices and planned utility bill hikes. To make thing worse, the pr...

2022-09-20 16:32

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