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Reporter : Yi Whan-woo
Tue, May 30, 2023 | 10:01
Gold price soars to all-time high
The price of gold soared to a record high this week, fueled by a growing preference for safe-haven assets by investors in the face of financial market volatility sparked by the recent global banking turmoil. A gram of gold was priced at 84,980 won ($64.40) on the Korea Exchange (KRX), Wednesday, up 1.86 percent from the previous session. The price of gold hit an intraday high...
Markets | 2023-04-06 16:05
Wealth gap widens between top and middle-income workers
The top 0.1 percent of salaried workers in Korea earn nearly 32 times more than middle-income workers, data showed Thursday. Statistics from the National Tax Service cited by Rep. Kang Jun-hyeon of the main opposition Democratic Party of Korea (DPK) showed that the per capita annual income of the richest 0.1 percent of salaried workers stood at 956.15 million won in 2021.
Economy | 2023-04-06 15:26
Daishin heir on course for third-generation succession
Daishin Financial Group heir Yang Hong-seok is on course for the third-generation succession of the mid-sized financial services company. The group said Vice Chairman Yang, 42, has been named to chair the board of directors at its flagship affiliate Daishin Securities.
Companies | 2023-04-06 08:27
Korea to push to finalize FTAs with Ecuador, Gulf states
Korea will diversify its free trade partnerships with more countries in the face of export declines and concerns over an economic slowdown, the country's top economic policymaker said Wednesday. Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho said the government accordingly will try to finalize ongoing negotiations on free trade with Ecuador and the si...
Economy | 2023-04-05 15:57
Hana introduces benefits for families with multiple children
Hana Financial Group said Tuesday it will introduce a range of financial benefits for families with two or more children as part of efforts to join the country's campaign against low birth rates and aging population. The banking group said the benefits will be offered by Hana Bank, Hana Card and Hana Securities, with the goal of forming a “favorable environment for marriage a...
Companies | 2023-04-04 16:25
Consumer prices rise at slowest pace in March
Consumer prices in Korea increased 4.2 percent year-on-year last month, growing at the slowest pace in a year, led by a fall in petroleum product prices in the face of declining global oil prices, Statistics Korea said Tuesday. But global oil prices are still capable of influencing inflation here, the government agency cautioned, citing an announcement by OPEC on Sunday of a ...
Economy | 2023-04-04 15:56
Bank loans to self-employed remain above W1,000 tril.
The amount of bank loans taken out by self-employed people is estimated to have surpassed 1,000 trillion won ($757.9 billion) for the second consecutive quarter amid lingering risks of default, according to data disclosed Monday. Released by main opposition Democratic Party of Korea (DPK) Rep. Yang Kyung-sook, the data compiled by the Bank of Korea (BOK) showed the total amou...
Economy | 2023-04-03 16:28
Hope for recovery in 2nd half remains in doubt due to continued trade deficit
A protracted trade deficit driven by plummeting exports to China is raising doubts over whether the Korean economy will bounce back in the second half of this year as initially predicted by the government. Asia's fourth-largest economy posted a 13-month-long trade deficit as of March - the longest streak since 1997 when it was in the middle of the Asian financial crisis, acco...
Economy | 2023-04-03 15:58
Mirae Asset, SK Telecom team up for security token business
Mirae Asset Securities, the nation's No. 1 securities firm, has teamed up with SK Telecom to initiate business in security tokens. A form of cryptocurrency, security tokens can represent fractions of real-world assets such as real estate or equity. The firm said it signed a memorandum of understanding (MOU) with SK Telecom, the nation's largest wireless carrier, in late March...
Companies | 2023-03-31 15:13
Euromoney recognizes Hana as best Korean bank
Hana Bank has been recognized as Korea's best private bank by Euromoney, a U.K. magazine internationally known for offering information on business and finance, the bank said on Friday. The 2023 honor means that Hana Bank has won the Best Private Bank in Korea category more times than any other bank. The company has won the category 16 times so far, with the first one coming ...
Companies | 2023-03-31 15:09
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