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Mon, October 18, 2021 | 01:47
Tightening lending rules to hit young, low-income borrowers hardest
Borrowers in need of loans for “jeonse,” or Korean-style deposit lease payments, remain highly concerned, despite a recent government announcement that mortgage loan seekers will not be subject to tightening lending rules implemented to curb snowballing household debt over the course of the COVID-19 pandemic. Unique to Korea, jeonse is a home renting system whereby tenants pa...
Strategic alliance
Avatars of officials of Shinhan Bank, Shinhan Capital and software developer Galaxy Corp. pose for a photo on the metaverse, a virtual platform, after signing a memorandum of understanding on a strategic business alliance to enhance their brand value among the younger generations, Oct. 14. Courtesy of Shinhan Bank
[Reporter's notebook] National Tax Service is complicit in suicide of sexual assault victim
What makes sexual assault victims commit suicide?
Eximbank loses W35.6 bil. in overseas investments
The Export-Import Bank of Korea (Eximbank) has lost almost the entire investment of 35.6 billion won ($29.8 million) made with two local private equity funds (PEFs) during the 2008-13 Lee Myung-bak administration, a ruling party lawmaker said Wednesday.
Korea's unregulated crypto-mediated FX transfers hit record-high
Korea registered over 812.2 billion won ($676.9 million) in questionable foreign currency transfers involving cryptocurrencies on the first eight months of the year, a ruling party lawmaker said Tuesday.
[Contribution] Korea's challenges and tailwinds
Korea is one of the better performing economies in the Asia-Pacific region this year. Exports will be the best remedy for the pandemic-scarred economy, while hefty household debt coupled with a heated real estate market will be key challenges.
National Tax Service unprepared to collect tax on crypto gains: lawmaker
An opposition lawmaker criticized the National Tax Service (NTS), Friday, for its lack of an administrative infrastructure to collect tax on gains from cryptocurrency trading.
Toss to acquire 60-percent stake in ride-hailing service provider Tada
Toss, Korea's internet-only bank operated by Viva Republica, will acquire Tada, a mobility startup operated by VCNC. The move will reshape the competitive landscape of the 6 trillion-won ($5 billion) ride-hailing service market, which is dominated by Kakao Mobility with a market share of 80 percent.
Korea issues $1.3 bil in forex bonds at record-low spread
Korea has issued $1.3 billion (1.5 trillion won) in dual-tranche dollar- and euro-denominated bonds at a record-low spread, lifted by a high assessment of the Korean economy by overseas investors, the finance ministry said Thursday. The dollar bond sale was four times greater than the initial purchase order, while the euro bond sale was six times greater. Among the buyers wer...
Finance minister unflinching about taxing crypto gains
Deputy Prime Minister and Finance Minister Hong Nam-ki said that taxation on gains from cryptocurrency trading will take effect next year as planned, in a clear show of distance from mounting calls from both ruling and opposition party lawmakers to delay the enforcement ahead of next year's presidential election.
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