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Reporter : Yi Whan-woo
Sun, December 3, 2023 | 05:48
Delinquency rate surges to 8-year high among self-employed
Once a personal trainer for several celebrities, Kim, a man in his mid-30s, plans to shut down his fitness club in Seoul's affluent Gangnam district after being diagnosed with stomach cancer as he struggled to pay back bank loans. “The doctor said the cancer is mainly due to extreme stress,” Kim, who refused to give his full name, said, adding, “My business still has not reco...
Small manufacturers hit hardest by worker shortage
Smaller businesses are finding it more difficult to hire workers in the manufacturing sector where jobs are diminishing fast, according to data, Friday.
Weak yen, strong dollar pose challenge to Korea's exports
A toxic mixture of a weak Japanese yen and persistently strong U.S. dollar against the Korean won are posing challenges to the recovery of Korean exports, which have been in decline for the past eight consecutive months, analysts said Friday. The country's outbound shipments came to $32.9 billion from June 1 to 20, up 5.3 percent from a year earlier, according to the Korea Cu...
Private consumption sluggish despite massive gov't spending
Private spending appears to be slowing despite the government spending hundreds of billions of won to encourage consumers to go out and spend more in the post-pandemic era.
Hana extends sponsorship for national football team
Hana Bank agreed with the Korea Football Association (KFA) to extend its official sponsorship for the national football team for the next 10 years, the company announced on Wednesday.
Light punishments feared to fan illicit activities in Korean financial markets
More than one out of four criminals convicted of stock price manipulation and other unfair trading practices are repeat offenders, while nearly half of them get off lightly with suspended jail terms, data showed on Tuesday. According to Financial Services Commission (FSC) data submitted to Rep. Kang Byung-won of the main opposition Democratic Party of Korea (DPK), 23 percent ...
Won makes fastest gains among major Asian currencies
The Korean won made the fastest gains against the U.S. dollar among major Asian currencies over the past month, on the back of foreign investors' buying spree in the Korean financial market, data showed on Monday.
KB to offer webinar for foreigners on retirement pension
KB Kookmin Bank will host an online seminar at 5 p.m., Thursday, to explain Korea's retirement pension system to foreign workers and introduce relevant products offered by commercial banks, the company announced on Monday. Titled “All About Korean Pension,” the webinar run on the bank's YouTube channel. It will be offered in English.
Temporary tax cuts likely to end amid widening fiscal revenue shortfalls
The government is weighing the termination of a range of special tax cuts as fiscal revenues shrink rapidly, making it tough for the country to rejuvenate a sluggish economy and improve the livelihoods of people, according to sources, Sunday. They said the government could return to the past administration's method of hiking the tax rate for multiple home owners and also for ...
Rising household debts heighten fears of mass defaults
Loans offered to households by banks are rising once again, fueling concerns that such an increase will result in a bigger risk of a default when the pause on repayments, which was granted by the government, expires in September.