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Reporter : Yi Whan-woo
Tue, May 30, 2023 | 10:36
Gov't, Assembly remain divided over belt-tightening policy
The government and the opposition-led National Assembly remain poles apart over the government's push to curb the fiscal deficit and improve financial soundness.
Will utility fee hikes affect inflation cooldown?
The hikes in the costs of utilities starting Tuesday are prompting speculation over how they may affect the course of inflation, which has been cooling down in recent months. Analysts said Monday the price increases are not likely to disrupt the easing of headline inflation, the overall measure of change in value of all goods and services within an economy.
Fiscal deficit grows faster than expected amid falling tax revenue
Korea's fiscal deficit surpassed 90 percent of the total amount projected for all of 2023 in the first three months of the year, data showed. The government is struggling with falling tax revenue while clinging to belt-tightening policy to improve financial soundness.
US default would send shockwaves through global markets: experts
The possibility of the U.S. government defaulting on its debt could cause repercussions in Korea and seriously dent its efforts for economic recovery, even though the chances of that happening are slim, according to analysts in Seoul, Friday. The experts noted that the Korean financial market is highly influenced by the U.S. economy and a failure in raising the U.S. debt ceil...
Delinquency rate of businesses adds to economic concerns
Companies are borrowing more money from banks while increasingly failing to make repayments on time, fueling concerns of corporate debt and risks of defaults that can further disrupt the country's efforts to revitalize its sluggish economy. According to data from five major banks, KB Kookmin, Shinhan, Hana, Woori and NH NongHyup, Thursday, the remaining balance of loans taken...
KB bolsters startup support campaign to nurture growth engines
KB Financial Group is bolstering efforts to support startups in line with the country's plan to nurture the next growth engines.
Export slump deals blow to manufacturing jobs
Sluggish exports are dealing a blow to manufacturing jobs, their number falling by 97,000 in April from a year earlier, marking the lowest level in 28 months, according to data released by Statistics Korea, Wednesday.
[1st YEAR in OFFICE] Yoon's economic team somewhat successful in juggling growth, inflation
President Yoon Suk Yeol's economic policy team appears to have been somewhat successful in striking a balance between growth and inflation, a priority task set for it after Yoon took office a year ago, according to analysts.
Hana's asset management head committed to use art as tool for joint prosperity
Kim Young-hun, the head of Hana Bank's asset management business, says he is committed to using art as a banking tool for joint prosperity. In that regard, Kim said he has been focusing on building trust with clients since taking office in December last year as well as offering opportunities for artists to showcase their works through Hana Art Bank, a range of services offere...
Hana inks global business expansion pact with Taiwan's CTBC Bank
Hana Financial Group announced, Sunday, it formed a strategic partnership with CTBC Bank, a leading private lender in Taiwan, to enhance its global network for its vision to become Asia's best financial services company.
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