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Finance

Sun, September 26, 2021 | 03:30

KB Asset rolls out first blockchain investment fund

KB Asset Management launched the country's first blockchain-focused mutual investment fund, the “KB Global Digital Chain Economy” fund, Monday.

Anna J. Park | 2021-09-06 15:21

Goldman Sachs, Societe Generale, CLSA silent on FSS sanctions

Goldman Sachs, Societe Generale and CLSA have remained cautious about the Financial Supervisory Service's (FSS) prior notification of its plan to slap a combined 48 billion won ($41 million) fine on them and six Korean securities firms for allegedly disrupting the market. Their muted stance was in contrast to the local brokerages, which have already begun to take preemptive m...

2021-09-06 15:21

State pensions face mounting calls for reform

Calls are expected to grow for the reform of four state-run pension funds, as nearly 60 trillion won ($51 billion) will be allocated for public spending next year, up 6.2 percent from this year's 55.8 trillion won.

2021-09-05 16:35

Tit-for-tat continues over 'parachuted' nomination

Korea Growth Investment Corp., a quasi-government investment firm with 22.7 trillion won ($19.6 billion) in publicly-raised funds under management, recently hired a former Cheong Wa Dae official as an investment manager, in what market watchers view as another “unqualified” political figure being parachuted into a high-paying position.

2021-09-05 16:30

Banks come under fire for 'greedy' loan rate hike

Commercial banks are being criticized for rushing to raise loan interest rates following the Bank of Korea's (BOK) base rate hike last month, while dragging their heels when it comes to increasing interest rates on deposits.

2021-09-05 15:45

IPOs next step for licensed P2P lending platforms

Licensed peer-to-peer (P2P) lending platforms here have begun to push ahead with various strategies for survival, including initial public offerings (IPOs), amid difficulties resulting from recent decisions by Kakao Pay, Toss and Banksalad to end their partnerships with the online lending platforms that enable individuals to obtain loans directly from other individuals.

2021-09-04 09:22

Singapore central bank says Binance may be in breach of rules

Singapore central bank said on Thursday that Binance, one of the world's largest cryptocurrency exchanges by trading volume, could be in breach of local laws and should stop providing payment services to the city-state's residents.

2021-09-03 17:43

State firms criticized for maintaining low-interest loans for employees

Amid the government's efforts to raise loan interest rates to curb soaring asset prices, some state-run companies have ignored the government's call to impose higher interest rates when it comes to providing their own housing loan plans to employees.

Anna J. Park | 2021-09-03 17:37

'The window to avoid catastrophic climate change is closing soon': DNV report

A recent report about energy transition from DNV - a Norway-headquartered global accredited registrar and quality assurance operating in more than 100 countries - has warned that even if all electricity was “green” from this day forward, the world will still fall short of achieving the 2050 net zero emissions goal of the Paris Agreement, adopted at 2015 United Nations Climate...

Anna J. Park | 2021-09-03 17:36

Top financial policymakers agree on need for additional rate hike

Financial Services Commission (FSC) Chairman Koh Seung-beom and Bank of Korea (BOK) Governor Lee Ju-yeol clarified their intention to curb the snowballing household debt in their first meeting, Friday, raising the possibility of another key interest rate hike within this year. According to the FSC, Friday, the top financial policymakers agreed to work towards easing the finan...

2021-09-03 16:33

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