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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Fri, February 3, 2023 | 16:00

8 candidates vie for Woori's next chairmanship

8 candidates vie for Woori's next chairmanship

Woori Financial Group reportedly longlisted eight candidates for its next chairman, after incumbent Chairman Son Tae-seung expressed his intention of stepping down from the post at the end of his term. According to sources in the financial industry, the candidates include five executives from within its ranks, and three outside figures. Among them are Woori Bank CEO Lee Won-d...

Lee Min-hyung | 2023-01-19 16:43

Gov't bond rate falls below base rate, signaling end to rate hike cycle

Gov't bond rate falls below base rate, signaling end to rate hike cycle

The coupon rates of treasury bonds are falling below the key interest rate, stoking speculation that the Bank of Korea's (BOK) rate hike cycle ended with its latest decision, Jan. 13. In particular, the longer the maturity of treasury bonds, the steeper their coupon rates fall, as owning treasury bonds for a longer period of time is likely to result in less profit.

Yi Whan-woo | 2023-01-19 16:41

FSC to scrap foreign investor registration system

FSC to scrap foreign investor registration system

The requirement for foreign investors to register their identities before making investments in Korea will be lifted, as the financial authorities aim to innovate the country's regulations to better conform to global standards. This development is according to the Financial Services Commission (FSC), the country's top financial regulator, on Thursday, as it held its ninth der...

Anna J. Park | 2023-01-19 16:36

Mirae Asset marks 15th anniversary in India

Mirae Asset marks 15th anniversary in India

Mirae Asset Global Investments celebrates the 15th anniversary of its operations in India, having entered the country in 2008. The firm announced earlier this week that Mirae Asset Global Investments is currently India's only independent foreign asset manager.

Anna J. Park | 2023-01-19 16:26

Brokerage houses heat up race in securities token market

Brokerage houses heat up race in securities token market

Brokerage houses here are preparing to jump into the nascent securities token market after a financial watchdog approved Thursday the issuance of blockchain-powered digital tokens. Financial Services Commission (FSC) Chairman Kim Joo-hyun said securities token offerings (STO) will be legally available in Korea. The decision came amid growing demand for tokenized digital asset...

Lee Min-hyung | 2023-01-19 15:49

BNP Paribas appoints Seoul branch chief

BNP Paribas appoints Seoul branch chief

BNP Paribas appointed Aymar de Liedekerke Beaufort as head of its Seoul branch, the banking group announced Thursday.

Yoon Ja-young2023-01-19 15:35

Local think tank lowers 2023 growth projection for Korea to 1.8%

Local think tank lowers 2023 growth projection for Korea to 1.8%

A local think tank on Thursday projected Korea's economy will grow 1.8 percent this year, downgrading its earlier forecast as global recession worries mount and domestic demand is expected to dwindle amid high inflation and interest rates.

2023-01-19 11:56

KSD advises caution in foreign currency securities investments

KSD advises caution in foreign currency securities investments

The Korea Securities Depository (KSD) has advised people to think carefully before investing in foreign currency securities. “Local investors cannot deal swiftly with any abrupt price falls of foreign currency securities due to issues such as short-selling and asymmetric information,” a KSD official said Wednesday.

2023-01-18 16:50

BOK to pay 'additional attention' to trade-offs on growth, financial stability in executing monetary policy

BOK to pay 'additional attention' to trade-offs on growth, financial stability in executing monetary policy

Korea's central bank will pay "additional attention" to implications that previous steep rate increases could have on economic growth and financial stability in carrying out its monetary policy going forward, its chief said Wednesday.

2023-01-18 16:47

Woori Financial chief decides not to seek another term

Woori Financial chief decides not to seek another term

Woori Financial Group Chairman Son Tae-seung has officially decided to wrap up his four-year term ending in March this year, and not to seek another term as group chief. “Today, I'd like to say that I am also joining a generational shift movement that's been trending in the local financial industry,” Son said in an official statement released Wednesday.

Anna J. Park | 2023-01-18 16:44

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