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Reporter : Lee Yeon-woo
Tue, October 3, 2023 | 22:34
Mortgage loans at banks hit record-high amid resurgence in home sales
Mortgage loans hit a new record high in July due to surging demand for housing finance as the local real estate market bounced back.
Financial firms ramp up safety measures to avoid bank runs
The financial industry is taking emergency measures to prevent potential bank runs, following a massive capital outflow at MG Community Credit Cooperative last month.
Housing loan defaults skyrocket among young borrowers
The default rate for housing loans among borrowers in their 20s and under has dramatically surged, hitting an all-time high. Particularly alarming is that one out of five borrowers aged 19, is in default, according to data released on Monday.
Hana to broaden global reach with State Bank of India
Hana Financial Group is set to broaden its global reach by joining forces with the State Bank of India, the biggest state-run commercial bank in India.
Heat wave drives up food prices, causing 'heatflation'
The abnormal heat wave baking the country is causing nationwide disruptions in food production, leading to surging prices. Market watchers believe that such a situation could push the country toward inflation once again.
Banks revamp services to support foreign workers in Korea
As Korea's foreign workforce continues to grow, banks are introducing an array of advanced services designed to better meet the diverse needs of clients.
What's behind Korea's relatively low inflation amid global surge?
Korea's consumer prices rose by 2.3 percent in July, easing to a 25-month low. Given that major economies are still facing continuous price increases, Korea's low rate of inflation stands out as an exception. Market watchers believe that the government's indirect intervention in private sector prices explains this difference.
Korea's household debt likely to drag down economic growth
Korea is at risk of entering a phase of low economic growth due to escalating household debt, which showed the second-largest rise in the world over the last seven years in terms of the ratio of debt to gross domestic product (GDP). This fact was highlighted recently in a working thesis released by the National Bureau of Economic Research (NBER).
Asset tokenization poised to reshape investment landscape
The era has officially dawned in which various assets such as art, music and real estate can be fractionally divided and traded, much like securities.
Deutsche Bank announces expansion in Korea, reentry into Korean debt market
Deutsche Bank will expand its investment banking capabilities in Korea and reenter the local debt capital market, the global bank announced Monday. As part of such efforts, the bank has also made strategic appointments to its Korean business.
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