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Fri, September 22, 2023 | 08:07
Pioneer of world first education insurance commemorated
Shin Yong-ho, the founder of Kyobo Life and the innovator behind the world's first education insurance, was commemorated on the 20th anniversary of his passing.
Bank of Korea struggles to retain workforce due to uncompetitive salaries
Once considered a coveted position for the highly educated, the Bank of Korea (BOK) is now struggling to retain its workers, according to data released on Wednesday.
Only a fraction recovered from top five banks' financial crimes
Despite numerous cases of financial crime at the top five banks, the recovered monetary losses appear to be minimal, according to data released on Tuesday.
Banks rush to employ digital specialists
For decades, traditional banking jobs have been predominantly dominated by those with majors in business or accounting. This trend, however, appears to be waning. As traditional employees depart due to the decreasing number of physical branches, digital talent is stepping in to fill the void.
Gov't forecast of tax revenue draws skepticism
Skepticism over the government's forecast on tax revenue is intensifying, as predictions suggest another double-digit error rate for this year. Sources anticipate this year's tax shortfall to hit a record high of 60 trillion won, equivalent to a 15 percent error.
Multinational firms evaded $375 mil. in customs duties over past 5 years
Multinational firms in Korea were found to have evaded more than 500 billion won ($375 million) in customs duties for the past five years by failing to submit relevant data and documents, according to government data unveiled on Monday.
Yang Jong-hee tapped as next chairman of KB Financial Group
KB Financial Group announced Friday that it selected Yang Jong-hee, the group's vice chairman, as the final candidate to become the next chairman. His professionalism in both banking and non-banking industries was highly regarded.
Why do financial group leaders purchase treasury stocks?
Major financial group leaders are actively purchasing treasury shares as a gesture of their commitment to taking a more hands-on approach to corporate management. At the same time, these actions are seen as an attempt to support their undervalued stocks.
Korean banks struggle to diversify business portfolios
Accessing financial services was relatively simple in the past, since there were few options other than to physically visit a bank branch to do that. With the advent of digitalization, however, competitors from the IT industry have entered the financial sector, equipped with innovative services that are much more convenient to use.
AI, digitalization strengthen calls to introduce basic income
“It is one of the most completely ridiculous ideas I have heard in a long time,” said the former Finance Minister of Iceland, Bjarni Benediktsson. The former Prime Minister of New Zealand John Key called it “barking mad.”
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