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Sun, October 1, 2023 | 08:48
Economic zones face major surgery
The government is facing mounting calls for a drastic restructuring of special economic zones across the nation as they have failed to attract foreign investment.
Banks rush to adopt bio authentication
Banks are in a rush to implement biometric authentication to capitalize on customers’ growing appetite for more secure and convenient services.
KDB opens Qingdao branch
The Korea Development Bank (KDB) has opened its Qingdao branch in a move to strengthen its presence in China where Korean companies are expanding their investments due to growing local demand, the state-run bank said Sunday.
Shinhan acquires bank in Indonesia
Shinhan Bank said Sunday it has acquired a controlling stake in an Indonesian bank to capitalize on rapidly growing demand in the world’s fourth most-populous country.
BOK plays down impact of Fed rate hike
The U.S. Federal Reserve’s rate hike will have no major negative impact on Korea’s financial market and overall economy, officials and analysts said Thursday. They said it will not pose any major upward pressure on the Bank of Korea’s (BOK) monetary policy at least in the first half of next year due to the sluggish economy here.
Korea cuts 2016 growth outlook
The government cut its economic growth outlook for next year to 3.1 percent as it sees growing uncertainties following a possible U.S. rate hike Thursday (local time), falling exports to China and weak domestic spending due to growing household debt.
BOK's immediate rate hike unlikely
A rate increase in Korea in the wake of the anticipated U.S. interest rate hike this Thursday will only be possible next year if domestic spending recovers enough to support growth, analysts said Monday.
Seoul Guarantee Insurance expands overseas
Seoul Guarantee Insurance (SGI) said Friday it will make an aggressive push into global markets to absorb growing demand, making a move to find a new growth engine.
Mirae Asset bets on ETFs
Mirae Asset Global Investment says exchange traded funds, or ETFs, will be the next big bets for the Korean asset management company as it invests in stocks regarded as having growth potential.
Korea advised to cut debt levels
Korea is one of the Asian economies required to reduce their overall debt to avoid major risks to growth because the debt increase has gained speed recently, International Monetary Fund (IMF) economists said at a conference in Seoul Friday.
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