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Sat, December 3, 2022 | 00:53

Foreign currency deposits up in Sept. amid increased corporate savings

Foreign currency deposits up in Sept. amid increased corporate savings

Foreign currency deposits at banks in Korea rose in September due to increased corporate savings, central bank data showed Thursday.

2022-10-20 13:31

Private spending growth likely to slow amid high inflation, rate hikes: BOK

Private spending growth likely to slow amid high inflation, rate hikes: BOK

Korea's private consumption growth is likely to slow due to high-flying inflation and rate hikes, the central bank said Thursday.

2022-10-20 13:20

Financial authorities check contingency plans after Kakao fiasco

Financial authorities check contingency plans after Kakao fiasco

Financial authorities have ordered emergency inspections on financial firms' contingency plans, aiming to prevent similar incidents following the recent KakaoTalk service outage. According to the Financial Services Commission (FSC) Wednesday, Chairman Kim Joo-hyun urged the top financial regulator to identify any advance measures the local financial sector needs to address.

Anna J. Park | 2022-10-19 15:52

Delinquency ratio on bank loans up in August amid rising borrowing costs

Delinquency ratio on bank loans up in August amid rising borrowing costs

The delinquency ratio on loans extended by banks in Korea rose in August from a month earlier as borrowers are under growing pressure from fast-rising borrowing costs, data showed Wednesday.

2022-10-19 13:45

Korea's exports likely to slow; uncertainty mounts for current account: BOK report

Korea's exports likely to slow; uncertainty mounts for current account: BOK report

Korea is expected to see sluggish exports for some time as demand from major markets, including the United States and China, wanes as a consequence of global monetary tightening and slowing growth, a central bank report said Wednesday.

2022-10-19 13:33

BOK report raises need for higher proportion of fixed-rate loans to ease debt burden

BOK report raises need for higher proportion of fixed-rate loans to ease debt burden

Local banks' deposit-loan rate differences have been widening recently due in part to their high proportion of floating-rate lending, whose interest payments have been rising sharply in line with ongoing monetary tightening, a central bank report said Tuesday.

2022-10-18 14:02

[CONTRIBUTION] How can tax policy help Korea become hub for foreign businesses?

CONTRIBUTIONHow can tax policy help Korea become hub for foreign businesses?

Tax policy is an important tool for any government to help achieve its economic objectives. Successive Korean governments have announced that one of their key economic policy aims is to attract foreign investment and make Korea a more attractive location for companies to use as a regional business hub for East Asia. So just how can tax policy help attract foreign investment a...

Anna J. Park | 2022-10-18 08:31

Foreign firms' tax evasion more than doubled since 2018

Foreign firms' tax evasion more than doubled since 2018

Foreign businesses have been increasingly engaged in tax evasion over the past four years, with the amount of unpaid taxes more than doubling between 2018 and 2021 to almost 200 billion won, data showed Monday. Compiled by the Korea Customs Service (KCS) and released by Rep. Yang Ki-dae of the main opposition Democratic Party of Korea (DPK), the data showed foreign firms evad...

Yi Whan-woo | 2022-10-17 15:53

Korea eyes $1.03 billion investment by revamping regulations

Korea eyes $1.03 billion investment by revamping regulations

Korea plans to overhaul a set of business regulations as part of efforts to bolster investment, the finance ministry said Monday, amid growing fears over an economic slump.

2022-10-17 09:52

Finance minister highlights 'consistency' between financial, monetary policies

Finance minister highlights 'consistency' between financial, monetary policies

Korean Finance Minister Choo Kyung-ho highlighted the importance of keeping "consistency" between financial and monetary policies as countries tackle global inflation, the finance ministry said Sunday.

2022-10-16 13:49

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