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Wed, July 6, 2022 | 12:35

Number of bank branches in Korea lower than OECD average

The number of commercial bank branches in Korea turns out to be lower than the average in the OECD member countries. According to the Financial Services Commission (FSC) on Sunday, the number of commercial bank branches in Korea per 100,000 adults stood at 14.4 in 2020, which is lower than 18.3, the average number per 100,000 adults in the OECD member countries.

Anna J. Park | 2022-06-19 16:07

What's next for stock market after Fed's giant step?

With the U.S. Fed making a giant rate hike of 75 basis points, market analysts expect the Korean stock market to continue experiencing turbulence until signs of downward inflationary pressure are detectable. “The bottom line is that inflation needs to be tamed for the stock market to continue a relief rally,” Meritz Securities analyst Lee Seung-hoon said.

Lee Min-hyung | 2022-06-17 16:56

Survey shows most global CEOs expect recession

Bitcoin fall drags down local crypto exchange stocks

The ongoing crash of major cryptocurrencies is dragging down crypto-related stocks here, with most companies that invested in exchanges extending losses in line with escalating fear sentiment in the global crypto market. Kakao was hit hardest by growing skepticism in the crypto industry. Shares of the nation's dominant mobile platform operator have continued a losing streak f...

Lee Min-hyung | 2022-06-15 15:53

[Contribution] Inflation has different colors, and so does monetary policy

Currently we are observing inflation numbers that we haven't seen for decades. Consumer price inflation (CPI) growth (12-month change) topped 8 percent in the U.S. in recent months, with that of the Eurozone and the U.K. reaching over 7 percent. Korean CPI growth came in at above 5 percent in May 2022, which is the fastest growth since 2008. What brought us here and why are c...

2022-06-14 13:49

S&P 500 confirms bear market as recession worry grows

U.S. equities tumbled on Monday, with the SP 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession.The benchmark SP index has fallen for four straight days, with the index now down more than 20 percent from its most recent record closing high to confirm a bear market...

2022-06-14 10:08

BOK ready to take measures amid market turmoil

Kospi dips to 19-month low on inflation fears

Korean stocks took a heavy beating Monday, with the benchmark Korea Composite Stock Price Index (Kospi) falling to the lowest level in 19 months on the back of a foreign selling spree amid growing fears over stagflation here and abroad. The Kospi closed at 2,504.51, down 3.52 percent or 91.36 points from Friday's close. It was the lowest level since it ended at 2,493.97 on No...

Anna J. Park | 2022-06-13 17:06

Hana Bank ordered to compensate up to 80 percent of losses from controversial fund

The Financial Supervisory Service (FSS) has ordered Hana Bank to compensate up to 80 percent of the losses inflicted on customers over a fund scandal amounting to hundreds of billions of won, Monday. It was the first FSS decision on pending financial disputes after former prosecutor Lee Bok-hyun took office as FSS governor last week.

Yi Whan-woo | 2022-06-13 16:57

Securities firms in hot seat after prosecutor-turned-governor hints at new probe

Securities firms could end up in the hot seat after the country's regulatory watchdog hinted at re-launching a probe into the misselling of problematic fund products managed by Lime Asset Management and Optimus Asset Management. Major brokerage houses here, including NH Investment & Securities and KB Securities, were slapped with sanctions by the Financial Supervisory Service...

Lee Min-hyung | 2022-06-09 16:32

Foreigners' net stock selling continues for 4th month in May

Foreigners withdrew more money than they injected into Korea's stock markets for the fourth straight month in May amid worries over economic slowdowns in major countries and the fallout from the ongoing war in Ukraine, central bank data showed Thursday.

2022-06-09 14:04

Luna price extends bigger loss; investors advised to avoid speculative investments

Cryptocurrency investors are urged to be on high alert due to the huge price volatility of the rebranded Luna token, as its price keeps showing a downward trajectory without any clear signs of a rebound. As of 3 p.m. Wednesday, Luna's price came in at $3.40 (4,260 won), down by around 20 percent from the previous day, according to data from CoinMarketCap.

Lee Min-hyung | 2022-06-08 17:05

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