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Fri, October 22, 2021 | 10:17
Creditors expected to roll over Hyundai Merchant's debt
Creditors of Hyundai Merchant Marine (HMM) are likely to roll over part of the shipper’s 4.8 trillion won debt, on condition that the company reduce its payments to ship owners, helping the cash-strapped company stay afloat, creditors said Thursday.
Bank employees under pressure to sell ISAs
The financial regulator is pushing to implement individual savings accounts (ISAs) here, advertising them as “innovative” way to make workers rich, but bank employees complain that they are under pressure to sell the accounts to customers.
Global IBs forecast gloomy outlook for Korean job market
Global investment banks (IBs) painted a gloomy outlook for Korea’s job market, forecasting that Asia’s fourth-largest economy will face rising unemployment due to increasing uncertainties in the manufacturing sector and sluggish growth in the service industry, a local think tank said Sunday.
Woori to lend $70 mil. to UAE airline for jets purchase
Woori Bank said Thursday that it decided to lend $70 million to Etihad Airways, becoming the first Korean lender to extend loans to a Middle Eastern airliner.
Korea worst in income inequality in Asia-Pacific
Korea’s income inequality is the worst among 22 countries in the Asia-Pacific region with the top 10 percent of the population receiving 45 percent of the total income, the International Monetary Fund (IMF) said Wednesday.
Gaeseong complex companies call for substantial compensation
Companies formerly running businesses at the Gaeseong Industrial Complex in North Korea expressed their disappointment Tuesday with the government’s new support package, calling for policymakers to pay them direct compensation rather than merely extending them loans.
Tax agency set to audit the biggest church in Korea over alleged embezzlement
The National Tax Service (NTS) is set to audit the Yoido Full Gospel Church, targeting pastor David Yonggi Cho who is suspected of embezzling 80 billion won ($67 million) of funds, said officials of the church on Monday.
Lawyer sells alternative to US bar exam
In the past, becoming a lawyer in the U.S. was a distant dream for ordinary Korean students and employees. Not only did it require excellent intellectual ability but adequate financial resources to attend a law school in the U.S.
Robo-advisor changes landscape of asset management
AlphaGo surprised the world by defeating world go champion Lee Se-dol in the first round of their historic five matches in Seoul, Wednesday. The artificial intelligence (AI) developed by Google DeepMind showed how quickly the technology has advanced.
Spy agency's access to bank accounts faces backlash
The national spy agency’s move to access bank accounts faces backlash from lenders, as they worry rich and corporate customers will lose trust in banks.
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