[Ferry Disaster] ‘Sewol bodies show signs of decomposition’: CSI medical ...

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Shinhan staff illicitly access customers’ data

The financial regulator said Friday that Shinhan Bank employees had engaged in unauthorized access to customers’ accounts about 100 times.“Some bank employees were found to have inquired into accounts of individual customers including their families, which is a breach of banking regulato...

Updated : 2014.04.18 21:14

IMF says Korean currency should be further appreciated

The South Korean currency is undervalued in the range of 2 percent to 8 percent, theInternational Monetary Fund said in its latest report, encouraging further appreciation of the won over the medium term.The IMF report dated Thursday said the won remained moderately undervalued by as much ...

Updated : 2014.04.18 15:41

NongHyup’s rise changes Korea’s financial landscape

NongHyup Financial Group finalized its takeover of the brokerage units of Woori Financial Group last week, signaling a major shake-up in the local financial industry. By acquiring and combining Woori ...

Updated : 2014.04.17 20:58

[Ferry Disaster] Sunken ferry insured for up to W350 million per passenger

Closed doors of Cheonghaejin Marine Co., owner of the sunken ferry 'Sewol' (Yonhap)Passenger-related insurance coverage for the sunken ferry Sewol is estimated at up to 450 million won ($433,000) per ...

Updated : 2014.04.17 20:56

Shares end little changed

After moving in a tight range, South Korean stocks finished slightly lower on Thursday as investors took to the sidelines on a lack of leads prodding them to buy, analysts said. The South Korean won rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index fell 0.16 poin...

Updated : 2014.04.17 20:56

S. Korean financial firms vulnerable to security breaches: regulator

  Some South Korean financial firms may be vulnerable to security breaches because they use an open source operating protocol that can expose customers' passwords and encryption keys, local regulators said Wednesday.   The Financial Information Sharing and Analysis Center (ISAC), which ...

Updated : 2014.04.16 21:26

Arrest warrant sought for former Lotte Homeshopping chief

  Prosecutors sought an arrest warrant Wednesday for a former head of television-based retailer Lotte Homeshopping Co. on charges of receiving kickbacks from suppliers.   After summoning Shin Heon for questioning earlier in the week, the Seoul Central District Prosecutors' Office asked ...

Updated : 2014.04.16 20:41

Government to speed up spending to stimulate economy

The South Korean government will speed up its scheduled spending in the first half of 2014 as part of efforts to revitalize the country’s economy, the finance minister said Wednesday.In a meeting with economy-related ministers in Seoul, Hyun Oh-seok said the government will front-load 60 ...

Updated : 2014.04.16 20:32

Eximbank opens center to study inter-Korean economic development

The state-run Export-Import Bank of Korea said Wednesday it has opened a center to study inter-Korean economic development and integration to support the government policy on national unification.Eximbank said the center will study issues related to North Korean economic development and pr...

Updated : 2014.04.16 20:31

FSS warns of zero tolerance

The Financial Supervisory Service issued an ultimatum to the country’s major banks, warning that the executives and auditor in charge would be held responsible for any future financial misconduct.“S...

Updated : 2014.04.15 21:14

Finance Ministry calls for ‘no extra spending’ in next year’s budget

The Finance Ministry appeared to be seeking to improve the nation’s fiscal balance next year by slashing unnecessary expenditure and reducing the number of government projects.The Ministry of Strategy and Finance on Tuesday called upon government agencies and ministries to follow the prin...

Updated : 2014.04.15 20:59

Seoul shares end down on bearish investor sentiment

South Korean stocks ended lower Tuesday as investors sat on their hands ahead of an announcement of China’s gross domestic product and earnings of U.S. big tech caps while institutional investors dumped their shares, analysts said. The South Korean won fell against the U.S. dollar.The ben...

Updated : 2014.04.15 20:59

Eight investors join Korean gold bourse

Eight more members have joined Korea’s gold trading platform, an indication that the newly launched gold bourse is gaining investors’ attention, the Korea Exchange said Tuesday. With the new members, a total of nine securities firms and 56 dealers, importers and wholesalers will be regis...

Updated : 2014.04.15 20:59

Financial regulator to ease IPO requirements

The Financial Services Commission on Tuesday unveiled plans to improve the corporate financing environment by easing the regulations on initial public offerings and devising ways for invigorating the moribund local capital market.The regulator said as the first step toward easier IPOs, it...

Updated : 2014.04.15 16:02

Regulator resumes probe into Woori Bank

The financial regulator has resumed its scrutiny into Woori Bank’s Tokyo branch over its alleged illicit lending in exchange for kickbacks or the possible creation of slush funds.The probe will conti...

Updated : 2014.04.14 20:48