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Reporter : Anna J. Park
Thu, March 23, 2023 | 11:13
Korean firms face vulnerabilities in internal money controls: KPMG report
In matters of corporate accounting management, Korean corporations turn out to have particular weaknesses regarding internal money controls and irregularities caused by high-ranking management officials.
Companies | 2022-12-28 16:39
[Contribution] Some misconceptions about Korean won
There was no winner in the investment scene except the U.S. dollar in 2022, which has rallied as much as 18.6 percent during the year, and 8.4 percent (based on DXY: USD versus six major currencies) year-to-date until Dec. 23 with the recent retreat. Non-U.S. currencies have depreciated, with the Korean won not being an exception. It started the year at 1,189 won per dollar, ...
Economy | 2022-12-28 11:11
Financial companies face heavier penalties for security failures
In a move to foster more nimble and flexible responses from financial companies in case of security accidents, the financial authorities have decided to allow the companies greater autonomy by revising relevant financial security regulations. Instead, the government plans to hold financial companies more responsible for failing to prevent such accidents.
Economy | 2022-12-27 16:45
ESG no longer seems to be priority for corporations amid economic slowdown
With increased external and internal economic uncertainties, corporations have opted for survival as their top priority over considerations of economic, social and governance factors - ESG principles - in their management strategies. As a result, the weight of ESG bonds issued by corporations aiming to achieve environmental, social or governance improvements with the raised c...
Markets | 2022-12-27 16:44
Mandatory bid rule in M&A deals to take effect in Korea as early as 2024
In a move to strengthen the protection of minority shareholders, the Korean government aims to adopt a mandatory bid rule in the country's capital market as early as 2024. If the rule is adopted, any person or entity that plans to take over a company through a stock purchase deal is legally required to offer to the remaining minority shareholders a buy-out of all their shares...
Markets | 2022-12-26 16:35
FSC to strengthen capital market investigations to eradicate securities crimes
The Financial Services Commission (FSC) aims to strengthen its capital market investigation functions, with the goal of eradicating securities crimes in the country. The nation's top financial regulator announced Monday that it has newly created two units devoted to capital market investigations, while abolishing one incumbent unit that's been working on investigative tasks.
Economy | 2022-12-26 16:32
Chips, battery, defense stocks to benefit from state economic policies in 2023
With the Korean government's economic policy for next year outlined in its official announcement on Wednesday, securities firms forecast that semiconductors, secondary battery, defense, nuclear power generation as well as the content sector will benefit from the policy direction. The 2023 economic policy direction announced jointly by the Ministry of Economy and Finance, alon...
Economy | 2022-12-23 16:35
Korea's housing prices fell most among 56 major nations
While housing prices continued to rise in many countries during the third quarter this year, Korea turned out to be the country that posted the biggest fall globally in average housing prices during the period. According to U.K.-headquartered real estate company Knight Frank's quarterly “Global House Price Index” published for Q3 this year, Korea's housing prices fell by 7.5 ...
Economy | 2022-12-23 15:37
100 rich people in Korea own over 22,000 homes
The number of homes owned by the country's top 100 people, in terms of the number of homes they have, exceeded 22,000 as of November this year. The number is up by around 2,000 compared to last year.
Markets | 2022-12-22 17:12
KOSPI fell most among G-20 countries except Russia
Korea's benchmark KOSPI displayed the lowest rate of return this year out of G-20 countries' benchmark indexes, except for only Russia. According to data from the Korea Exchange (KRX), the KOSPI's annual rate of return this year - a comparison between the closing price of the first trading day in January and the closing price of Dec. 20 - stood at minus 21.93 percent.
Markets | 2022-12-22 16:20
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