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Bank lending rates on household loans decline in August

Bank lending rates on new household loans slightly fell from a month earlier in August and interest paid by banks on new deposits also dropped, central bank data showed Thursday.The average interest rate on fresh household loans extended by local banks came to 2.95 percent last month, down...

Updated : 2016.09.29 14:13

[Graphic News] 7 in 10 small businesses fail to survive past 5 years

Seven in 10 small businesses in Korea failed to survive past five years, government data showed Wednesday.Among small-scale enterprises that opened in 2008, only 29 percent remained in business in 201...

Updated : 2016.09.28 18:05

Park stresses role of female financiers in strengthening financial sector, boosting growth

President Park Geun-hye stressed the role of female financiers in strengthening South Korea's financial sector and boosting growth Wednesday, saying their efforts are crucial to address an array of economic and social challenges facing the nation.In her video message to a gathering of wome...

Updated : 2016.09.28 15:41

Publicly placed stock funds suffer massive outflows

Publicly placed stock funds have suffered a massive capital outflow, totaling 24 trillion won ($21.9 billion) over almost four years, as investors' appetites for risky assets declined amid a tepid local stock market and increased uncertainties, industry data showed on Wednesday.According t...

Updated : 2016.09.28 10:20

‘Growing debt at marginal households poses threat to economy’

The rapid growth in liabilities of so-called “marginal households” is posing threats to the South Korean economy and the government should come up with more measures to support them, said an opposit...

Updated : 2016.09.27 17:11

Capital firms' net jumps 25% on lower costs

Seventy three credit-specialized finance firms in South Korea, excluding credit card companies, saw their net profits jump more than 25 percent on-year in the first half of this year thanks to less loan loss costs and lower interest rates, official data showed Tuesday.Their aggregate net p...

Updated : 2016.09.27 10:44

[Kosdaq Star] InBody to benefit from aging, fare well globally

“Let’s InBody!” Names of some companies or products become verbs, if they become popular. InBody has become a new verb in the beauty and health care community, especially among young women who want...

Updated : 2016.09.26 15:38

Nomination of new KRX CEO stirs ‘parachute appointment’ controversy

The trade union of Korea Exchange, the operator of the country’s stock trading boards, is protesting the government’s nomination of a former senior official as the next CEO of their company, critici...

Updated : 2016.09.26 15:33

Import volume index sharply rises in August: BOK

South Korea's imports increased sharply in August in both quantity and value, led by the machinery and chemical sectors, the central bank data showed Monday.The import volume index jumped 7.5 percent to 124.58 in the month from a year earlier, marking the largest growth since late 2014, ac...

Updated : 2016.09.26 14:19

Bank holding firms' net plummets 16% on bad loans

South Korea's seven bank holding companies saw their net profits plunge more than 16 percent on-year in the first half of 2016 on increased expenses from bad loans, government data showed Monday.They reaped a total of 3.44 trillion won ($3.11 billion) on consolidated financial statements, ...

Updated : 2016.09.26 11:50

Nearly 2 trillion won of illegal transactions found through financial intelligence: report

The customs agency was able to discover 1.99 trillion won ($1.8 billion) in illegal transactions in 2015 based on tips from the Financial Intelligence Unit, a report submitted Monday to a parliamentary committee said.The FIU, established in November 2001 under the Financial Services Commis...

Updated : 2016.09.26 11:48

Prosecutors to reapply for warrant to arrest ex-KDB chief over bribery

Prosecutors said Sunday they plan to reapply for a warrant to arrest a former head of the state-run Korea Development Bank (KDB) facing bribery charges, a day after a Seoul court rejected the initial request.Prosecutors said they will seek to formally arrest Kang Man-soo on charges of brib...

Updated : 2016.09.25 21:17

Number of Chinese visitors falls after THAAD dispute

The number of Chinese tourists who visited South Korea in August decreased from the previous month, apparently due to political tension between the two countries over the deployment of a missile defen...

Updated : 2016.09.25 16:14

Bank workers strike against merit pay system

Unionized bank employees staged an industry-wide strike Friday to protest against a plan to introduce a performance-based salary system.Banking sources said fewer than expected bank workers took part ...

Updated : 2016.09.23 19:23

18 investors bid for Woori Bank stakes

A total of 18 institutional investors submitted letters of intent to buy splinter stakes in Woori Bank in preliminary bidding on Friday, boosting the chance of success of the government’s fifth atte...

Updated : 2016.09.23 18:23