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[Graphic News] Merged Hana-KEB to rank 2nd in loan holdings

The upcoming merger between Hana and Korea Exchange Bank is expected to put them at second in the banking sector in terms of loans in Korean currency, according to figures from the Financial Superviso...

Updated : 2014.08.20 21:48

Experts laud new economic policies

Economic experts appeared to be optimistic about the government’s latest policy initiatives, according to a survey conducted by the Federation of Korean Industries earlier this month.More than half of the 37 experts surveyed by the FKI said that they supported the economic direction taken...

Updated : 2014.08.20 21:23

Stocks nearly unchanged ahead of Fed meeting

South Korean stocks closed nearly unchanged Wednesday as investors shunned risky assets ahead of the release of minutes from the U.S. Federal Reserve’s July meeting, analysts said. The local currency sharply declined against the U.S. dollar.The benchmark Korea Composite Stock Price Index ...

Updated : 2014.08.20 21:22

Korea’s short-term foreign debt up in Q2

South Korea’s short-term foreign debt rose for the third straight quarter in the April-June period as banks increased their overseas borrowing, central bank data showed Wednesday.The country’s short-term external debt totaled $131.8 billion as of end-June, up $8 billion from three months...

Updated : 2014.08.20 21:20

Hana, KEB heads embark on early merger of two banks

The heads of Hana Bank and Korea Exchange Bank (KEB) agreed in a joint statement on Tuesday to speed up the merger of the two local lenders, which has faced stiff opposition from KEB's union. Hana Bank President Kim Jong-jun and KEB President Kim Han-jo signed a joint statement announcing ...

Updated : 2014.08.19 15:56

Mobile banking usage up 6.6 pct in Q2

Banking transactions made via mobile devices rose 6.6 percent in the second quarter from three months earlier as more people relied on their smartphones, central bank data showed Tuesday.The number of daily mobile banking transactions averaged 29.4 million in the second quarter, compared w...

Updated : 2014.08.19 12:36

Debate over effect of rate cut heats up

Debate over whether a lower interest rate will help or winder for the economy is heating up, following the Bank of Korea’s first rate cut in 15 months last week. The Financial Supervisory Service, S...

Updated : 2014.08.18 20:38

Forest Service readies for new climate change system REDD+

South Korea is to make an interim check on its progress in preventing forest degradation and reducing greenhouse gas emissions ― and gauge its readiness for the new climate change system.The third an...

Updated : 2014.08.18 20:33

Korea pushes forestation plan in Southeast Asia

Reducing emissions from deforestation and forest degradation in developing nations, known as the REDD+ program, is a key way for the Korea Forest Service to display its support for the United Nations’ green initiative and to promote Korea’s advanced status in environmental protection.Sou...

Updated : 2014.08.18 20:33

KEB managers support early integration with Hana Bank

High-ranking officials of Korea Exchange Bank have pledged to support the company’s push for early integration with Hana Bank, ahead of the scheduled date of 2017, KEB officials said Sunday.Management at the firm’s headquarters in Seoul posted a joint statement on the company intranet on...

Updated : 2014.08.17 21:11

Financial watchdog reviewing KB Group's takeover of LIG Insurance

South Korea's financial watchdog said Friday that it is reviewing the proposed takeover of LIG Insurance, the country's No. 5 non-life insurer, by KB Financial Group.An official from the Financial Services Commission said a final decision will likely be made before the end of next month."T...

Updated : 2014.08.15 16:21

BOK cuts rate to 2.25%

In a widely expected move, South Korea’s central bank on Thursday lowered the policy interest rate to 2.25 percent in a coordinated effort to prop up flagging consumption and sentiment.The decision, ...

Updated : 2014.08.14 21:37

Korea logs trade surplus for 30th straight month in July

South Korea logged a trade surplus for the 30th consecutive month in July on rebounding exports, customs data showed Thursday.South Korea’s exports came to $48.3 billion last month, up 5.4 percent from a year earlier, while imports rose 5.8 percent on-year to $45.9 billion, according to d...

Updated : 2014.08.14 21:19

KRX frets over government’s stance on carbon trading

The Korea Exchange appeared to be in a rare fix over the Finance Ministry’s intentions to ease carbon emission duties for companies in a move that would put a damper on gas trading aimed at reducing ...

Updated : 2014.08.14 21:18

Korean won extends gains after rate cut

The South Korean won extended intraday gains against the dollar on Thursday, after the Bank of Korea’s widely expected cut in interest rates and comments from its governor that were not perceived as bearish for the currency.The local currency ended up 0.8 percent on Thursday at 1,021.2 ag...

Updated : 2014.08.14 21:17