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Fri, October 22, 2021 | 09:44
Banks rush to attract customers after account switching service launched
Banks are rushing to attract customers from their rivals after people were allowed to shift their bank accounts with a few mouse clicks starting Friday.
FSC seeks to reform listing regulations to help corporations
The financial regulator said Thursday that it will change listing regulations to help corporations attract more investments based on their potential to grow, as part of its second round of financial reform.
Kimchi refrigerators keep cash hoards cool
A growing number of Koreans are using Kimchi refrigerators as an alternative to a safe in which to hoard their cash amid record low interest rates, a Bank of Korea (BOK) official said Thursday.
Soaring household debt deepens woes
Korea’s outstanding household debt topped 1,200 trillion won ($971.6 billion) for the first time last December, up 41.1 trillion won from three months earlier on increasing mortgages and household loans, the Bank of Korea (BOK) said Wednesday.
Allianz launches life insurance policy with low premiums
Allianz Life Insurance said Tuesday that it lauched a new policy with low premiums earlier this month, seeking to protect more customers from unexpected disasters and diseases.
Elliott to be referred to prosecution on rule breach
The financial regulator said Tuesday it will refer U.S. hedge fund Elliott Associates to the prosecution for allegedly violating public disclosure rules involving its purchase of a stake in Samsung C&T last year.
Strong dollar boosts exporters, hits consumers
Hyundai Motor is happy with the strong U.S. dollar as 80 percent of its sales come from overseas markets. The nation’s largest automaker said it can make an additional 200 billion won whenever the local currency loses 10 won against the greenback.
Major banks face worsening profitability
Korea’s four major banks are expected to face worsening profitability this year due to surging bad loans and the unstable global financial market, Standard & Poor’s said Sunday.
Sovereign fund to increase investments in alternative assets
The chief of the country’s sovereign wealth fund said Wednesday that he will increase its investments in alternative assets, such as real estate and infrastructure, as stocks are dropping sharply and bonds are yielding lower returns.
FTC set to accuse banks of rate collusion
Korea’s anti-trust agency is moving to accuse six local banks of colluding in setting certificate of deposit (CD) rates higher, charging more expensive interest to customers, officials and lenders said Thursday.
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