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Reporter : Lee Yeon-woo
Tue, September 26, 2023 | 01:06
Will deposit insurance cap be raised?
Discussions are gaining momentum around the idea of raising the cap on the country's state-led deposit insurance coverage, which has remained at 50 million won ($38,270) per person since 2001. According to sources and media reports, the Korea Deposit Insurance Corporation (KDIC) held closed-door meetings last Wednesday and Friday with banks, savings banks and insurance firms....
Economy | 2023-06-28 15:26
Internet-only banks tap into fandom culture to engage young customers
The country's internet-only banks are rolling out new services targeting K-pop fans, weaving fandom culture into their savings products. This initiative is seen as a strategic move to attract and secure younger customers who show significant interest in K-pop idols.
Companies | 2023-06-28 08:09
JB Financial Group vows to be 'small yet strong' on 10th anniversary
JB Financial Group aims to evolve into a small yet highly profitable financial group, according to a long-term plan announced last Saturday at a ceremony marking its 10th anniversary in Muju County, North Jeolla Province.
Companies | 2023-06-27 16:20
Korean chipmakers forecast delayed export recovery: BOK
Korean semiconductor firms anticipate that a full recovery in exports could prove to be challenging, and possibly will only be achieved during the latter half of next year despite China's reopening, according to a report released by the Bank of Korea (BOK), Monday.
Economy | 2023-06-27 08:05
Korean households spend more on tutoring than food, housing
Kim, a housewife in Seoul who asked to be identified only by her surname, has recently found herself clashing with her husband over tutoring expenses for their 13-year-old child.
Economy | 2023-06-25 16:27
Korea, Japan to discuss currency swap after 8-year suspension
Finance ministers of Korea and Japan will resume their annual bilateral meeting this week in Tokyo. Cooperation in the financial and foreign exchange sectors, possibly including a Korea-Japan currency swap, is expected to be discussed.
Economy | 2023-06-25 16:08
[INTERVIEW] Fintech can be key to accelerating energy transition
The importance of renewable energy is being highlighted more than ever. Like other major economies, Korea has set a goal to increase the proportion of renewable energy in its portfolio to 21.6 percent by 2030.
Markets | 2023-06-24 09:31
Pension payouts to exceed revenues by 2027
Korea's record low birthrate is expected to reduce the number of contributions to the state-run retirement pension by approximately 860,000 over the next five years, while the number of pensioners will increase by 2.4 million during the same period.
Economy | 2023-06-22 16:50
BOK wants '10-won bread' to stop looking like money
Makers of Gyeongju's “10-won bread,” a popular street food shaped like a Korean 10 won coin, are facing pressure from the Bank of Korea (BOK) to change its design.
Economy | 2023-06-22 13:56
Growing financial pressure spurs early withdrawals from youth savings schemes
One out of four subscribers of the installment savings product introduced during the previous Moon Jae-in administration has closed their account, according to data from the Financial Supervisory Service (FSS).
Economy | 2023-06-21 16:50
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