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Financial education key to Korea’s advancement

This is the fourth in a monthly series contributed by executive members of the Financial Supervisory Service to address key ongoing financial issues. ― Ed. Oh Soon-myoungIt was one of the hottest day...

Updated : 2015.07.27 18:42

Financial regulators to hold investigative power

By Bae Hyun-jungStarting from August, financial officials will be able to directly investigate cases of unfair stock trading.So far, they have referred such cases to police or the prosecution as they have no investigative authority.This incoming change reflects investigators’ recognition ...

Updated : 2015.07.27 18:16

Korea’s per capita GDP may shrink in 2015

By Chung Joo-won South Korea’s per capita gross domestic product this year may fall for the first time in six years on the weak won and lackluster growth, a private think tank said Monday. The LG Eco...

Updated : 2015.07.27 17:44

Seoul shares down 0.35 pct on brokerage, pharma losses

South Korean stocks closed down 0.35 percent on Monday as brokerages and pharmaceuticals dropped amid deteriorating investor sentiment over their business conditions, analysts said. The won gained ground against the U.S. dollar.The benchmark Korea Composite Stock Price Index lost 7.15 poin...

Updated : 2015.07.27 17:25

Conglomerates’ stock value plunges W40tr

The nation’s 10 biggest business groups saw their market capitalization on the main bourse drop sharply over the past few weeks or months in the wake of lackluster exports and foreigners’ net-selling streak.According to Chaebol.com, a conglomerate data tracker, listed units of the 10 con...

Updated : 2015.07.26 18:10

BOK sees W1.8tr loss on gold price plunge

By Chung Joo-wonSouth Korea’s central bank reported a 1.8 trillion won ($1.54 billion) loss as record-low international gold prices devalued its reserve, the parliamentary finance committee revealed ...

Updated : 2015.07.26 17:22

Seoul shares to move in narrow range next week

South Korean stocks are likely to trade in a tight range next week as investors watch out for second-quarter earnings results and the Fed's two-day policy meeting, analysts said Saturday.The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,045.96 on Friday, falling 1.48 perc...

Updated : 2015.07.25 10:14

Banks step up efforts to curb switching accounts

By Bae Hyun-jungBanks are gearing up their efforts to retain their conventional customers and stop them from moving their accounts to other banks ― a provisionary measure to the incoming bank account switching system.Starting from October, customers will be able to move their accounts mor...

Updated : 2015.07.24 17:29

Hana Financial's net slips 10.27 pct in Q2

Major South Korean banking group Hana Financial Group Inc. said Friday that its second-quarter net profit fell 10.27 percent from a year earlier due to a rise in loan-loss reserves.Net income stood at 374.9 billion won ($321 million) in the April-June period, compared with 417.8 billion wo...

Updated : 2015.07.24 16:50

GDP growth stays below 1% for 5th quarter

South Korea posted economic growth of less than 1 percent for the fifth consecutive quarter amid the protracted slump in private consumption and exports, data from the Bank of Korea showed Thursday.Th...

Updated : 2015.07.23 18:18

KB Financial’s net profit falls in Q2

KB Financial Group said Thursday that its net profit for the second quarter stood at 339.6 billion won ($291 million), down 43.9 percent from the previous quarter, due to the expenses spent on mass voluntary retirement.Its quarterly sales and operating profits were 5.4 trillion won and 397...

Updated : 2015.07.23 17:31

OB adds premium product to Cass brand

Oriental Brewery, South Korea’s largest beer manufacturer, said Thursday that it was adding a new premium line to its flagship brand Cass, in an effort to appeal to young trend-leading consumers.Sinc...

Updated : 2015.07.23 17:31

Won-dollar hits 3-year high

The U.S. dollar posted its strongest position against the Korean won in more than three years on Thursday, with its value gaining more than 8 percent over the past three months.The greenback surged 11.5 won, or 0.99 percent, from the earlier trading session to close at 1,165.1 won. The won...

Updated : 2015.07.23 15:49

Hana-KEB merger receives preliminary FSC approval

The top financial regulator gave its preliminary approval Wednesday for the merger of Hana Bank and Korea Exchange Bank, the two banks affiliated with Hana Financial Group. The final approval will be ...

Updated : 2015.07.22 18:47

Pernod Ricard Korea joins race for low-alcohol drinks

Pernod Ricard Korea, the local branch of the world’s second-largest distiller, said Wednesday that it would launch a low-alcohol, fruit-flavored spirit drink, targeting specifically the female consum...

Updated : 2015.07.22 18:47