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Reporter : Lee Min-hyung
Sun, November 27, 2022 | 00:36
Widening trade deficit clouds economy
Korea's trade deficit is widening at an alarming pace amid soaring energy import costs and falling exports to China, the Korea Customs Service said Monday. According to data from the customs agency, the nation's trade deficit between Aug. 1 and 20 came in at $10.2 billion (13.65 trillion won), up 33 percent from a month earlier. Korea's exports rose by 4 percent during the sa...
Banks start notifying customers of loan-to-deposit ratios
Banks will begin notifying customers of their loan-to-deposit interest rate gap from Monday, making it easier for borrowers to search commercial lenders offering better interest conditions. Customers can visit the website of the Korea Federation of Banks to compare the ratio from each lender.
Outlook dim on SOCAR's post-IPO valuation
Outlook remains murky over the post-initial public offering (IPO) stock movements of SOCAR, the largest car-sharing app operator in Korea, amid weaker-than-expected demand from investors and uncertain macroeconomic conditions here and abroad, analysts said. The company plans to go public on Monday after fixing its IPO price at 28,000 won ($21) per share early this month. This...
Aviation stocks gain traction on oil price fall, travel demand recovery
Aviation stocks are on the path to recovery after suffering from a nightmarish fall in the second quarter, as they are widely forecast to achieve a major earnings rebound due to declining oil prices and reviving demand for travel here and abroad, analysts said.
Will KRX gold leverage index boost gold market?
Gold will once again regain investors' attention in the latter half of this year, as demand for safe and alternative assets other than stocks, will stay solid amid lingering inflationary woes and monetary uncertainties here and abroad, analysts say. Acting on this demand, the Korea Exchange (KRX) has decided to unveil its KRX Gold Leverage Index from Aug. 22. Investors can ge...
Woori to offer $17.5 billion for vulnerable groups
Woori Financial Group will provide financial aid worth 23 trillion won ($17.55 billion) for the next three years for socially vulnerable groups here, the company said Wednesday. Woori's four affiliates ― Woori Bank, Woori Card, Woori Financial Capital and Woori Savings Bank ― will join the so-called co-prosperity finance project. Other Woori subsidiaries will take part in the...
Bitcoin's role expected to expand as investors circumvent capital controls: Bithumb research chief
More people will have a stronger interest in Bitcoin and other forms of commodity-backed currencies, as the United States has been gesturing that it wishes gradually to lessen its role as “the world's police,” a crypto expert based in Seoul said. “As was shown in the war between Russia and Ukraine, the U.S. has strategically shifted its long-standing position by reducing its ...
Will trading of SillaJen stocks resume?
SillaJen faces a crucial week, as the firm's six-month grace period to avert a possible delisting from the local stock market is scheduled to end on Aug. 18. In February, the Kosdaq-listed biopharmaceutical company was given a grace period to improve its business practices from the market committee of the secondary trading board here.
Do Kwon says he will cooperate with investigation
Do Kwon, the co-founder of Terraform Labs, has shared his plan to cooperate with the ongoing investigation by the Korean prosecution, but declined to confirm when it will be, citing no charges have been brought against him over the collapse of the Terra-Luna cryptocurrencies. Kwon has made no public appearances since the Terra stablecoin and its sister token plummeted in May,...
Retail investors on bond buying spree amid stock doldrums
Retail investors are on a buying spree of bonds, as they bet more on safer assets amid falling stock market sentiment here and abroad, data showed Monday. According to data from the Korea Financial Investment Association, retail investors have purchased bonds worth 9.54 trillion won at the over-the-counter market from the beginning of this year to Aug. 12. This is more than t...