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Reporter : Anna J. Park
Fri, July 1, 2022 | 01:02
Mastercard picks head of Korea operations to lead Northeast Asian division
Mastercard has appointed Choi Dong-chun, the head of its operations in Korea and three other regions, to lead its entire Northeast Asia business, the company said Monday. Choi has been leading the U.S.-headquartered multinational company's operations in Korea, Hong Kong, Macau and Taiwan since September 2017.
Why Mario Outlet founder keeps buying houses of former presidents
Mario Outlet President and Chairman Hong Seong-yeol, who's been in the media frequently as an eccentric collector of former presidents' homes, has added yet another new asset - former President Moon Jae-in's previous house - to his collection. According to the country's real estate registry on Friday, the fashion company founder has officially become the new owner of Moon's f...
Finance minister vows to push for regulatory overhaul
Finance Minister Choo Kyung-ho vowed to streamline unnecessary and excessive regulations in the financial sector, leaving only those regulations that are required for maintaining financial companies' financial soundness and protecting consumers. The comment was made during Minister Choo's first official meeting with chairmen of the country's five major financial groups - Shin...
Trade deficit feared to become long-lasting trend
The Korean economy is witnessing growing concerns about its ever-increasing trade deficit, which has exceeded the $10-billion mark this year alone, as the country is expected to log a trade deficit in May for the third consecutive month. Analysts say the trend will continue for a while, with a twin deficit becoming more likely. According to the Korea Customs Service last week...
Young Koreans more pessimistic about economy than global peers: Deloitte survey
Members of Gen Z and the Millennial generation around the world are generally concerned about financial matters, but Korea's younger generation appears to be more concerned and pessimistic about their financial and economic prospects than their global peers, a survey showed. These findings are according to Deloitte's “2022 Gen Z and Millennial Survey,” the global firm's 11th ...
Brokerage firms choose to sell buildings for higher profitability
With the country's real estate prices continuing to soar, major securities firms are choosing to sell their own buildings and remain as a tenant, so they can divert their profits to investment banking or prop up trading to yield higher returns. Shinhan Financial Investment is currently in negotiations with a consortium of IGIS Asset Management and KKR to sell its office build...
KakaoBank partners with 7-Eleven
KakaoBank has partnered with convenience store chain 7-Eleven for the first time, offering benefits for customers using Moneybox, a savings tool of the digital bank. The online-exclusive bank plans to partner with more business brands in various sectors so as to expand its influence further. Any customers of KakaoBank can register for the “Moneybox with 7-Eleven” partnership ...
Auditing firms compete to secure rookie accountants
The country's big four accounting firms - Deloitte Anjin, EY Korea, Samil PwC and Samjong KPMG - are competing to hire rookie accountants as demand for accounting services surged following the revision of Korea's external audit law.
Kakao Pay strengthens ESG-focused growth strategies
Aiming to accelerate efforts toward sustainable management, Kakao Pay is launching an ESG preparation committee. According to the fintech firm, Tuesday, the CEO-controlled decision-making body will have 10 members - two independent directors and eight executives of the firm. It will become an official structure within the company board once it earns approval at a shareholders...
Gov't to ease tax burden that increased during previous administration
The Yoon Suk-yeol administration is moving to ease the tax burden that increased during the previous administration, including overhauling the housing tax system to lower taxes levied on home owners. The main opposition party is also campaigning to lower the comprehensive real estate tax levied on the owners of expensive homes, ahead of the June 1 local elections.
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