search close
Fri, December 1, 2023 | 09:03
Shinhan earns big on diversification
Shinhan Financial Group said Wednesday that it expects to post a net profit for an eighth consecutive year in 2015 because its diversified portfolio and decreased loan-loss provisions have room to offset the impact of record-low interest rates.
Household debt posing greater threat to economy
Soaring household debt, fueled by a series of government-led stimulus programs, is posing a greater threat to the nation’s economy, analysts said. Household debt hit a fresh record of 1,166 trillion won ($1.01 trillion) at the end of September, jumping 10 percent from 1,056 trillion a year earlier, according to the Bank of Korea (BOK), Tuesday.
KB helps underprivileged as winter comes
KB Financial Group will continue its five-year campaign to help underprivileged people through the end of December with a variety of volunteer services, the group said Monday.
Banks, union at odds over merit-based pay
Banks moving to introduce a performance-based pay are drawing strong protests from unions, which believe this will result in massive layoffs.
Brokerages expect 2.8% growth next year
Korea's seven major brokerages expect 2.8 percent growth next year, citing China's slowdown and weak exports as core downward pressure on the economy, according to recent economic outlook reports. Their view runs counter to Finance Minister Choi Kyung-hwan’s outlook of 3 percent growth in 2016.
Shinsegae fined W80 bil. for tax evasion
The National Tax Service (NTS) has fined the Shinsegae Group more than 80 billion won ($69 million) for tax evasion, after a recent probe into the retail conglomerate, people familiar with the matter said Sunday.
Korean elderly carry highest debt burden
Elderly Koreans aged 60 or older carry the highest household debt-to-income ratio in the world, which means the U.S. Fed’s expected rate hike next month could turn their debt into non-performing loans, a think tank report said Wednesday.
Firms negative about business outlook
Nine out of 10 Korean companies do not expect to achieve their sales targets this year, a survey showed Wednesday.
KB supports jobseekers at fair
KB Kookmin Bank said Tuesday that it will continue to connect companies that seek young talent with jobseekers as part of its social contribution.
Eximbank finances Myanmar projects
The Export-Import Bank of Korea (Korea Eximbank) said Tuesday it will extend $183 million in loans to a Myanmar infrastructure modernization project, which it sees generating future business opportunities there for Korean companies.
1234567 8 910