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The Korea Herald > Business > Finance

[News Focus] Legislation stall hinders access to Islamic money

Korea’s recent failure to legislate tax benefits for sukuk, or Islamic bonds, is seen to begin taking a toll on the country’s access to one of the world’s fastest growing financial sources. The Mala...

Updated : 2011.02.28 18:23

[Herald Interview] Asia needs to reduce dollar use: UNCTAD chief

Asian countries should increase use of their local currencies in inter-regional trade settlements to avoid currency disturbances stemming from U.S. monetary policies, Supachai Panitchpakdi, secretary...

Updated : 2011.02.28 18:22

Korea Exchange pushes to go public

Chairman Kim vows to enhance global networking, toughen against fraud The Korea Exchange will push for an initial public offering to boost its competitiveness and expand its operations globally, its...

Updated : 2011.02.27 18:41

S&P remains negative on Hana Bank's expected acquisition of KEB

Standard & Poor's Ratings Services said Saturday that it continues placing Hana Bank on its "negative watch" list as the lender is getting closer to complete the acquiring of Korea Exchange Bank. H...

Updated : 2011.02.26 16:20

FSC chief warns against trading fraud

Financial Services Commission Chairman Kim Seok-dong pledged Thursday to toughen punishment on trading irregularities in the financial industry one day after the government partly suspended Deutsche ...

Updated : 2011.02.24 19:07

IMF to highlight Korea’s capital control

The International Monetary Fund will release a report next week highlighting South Korea’s successful policy response to speculative capital inflows, a government official said. The report will exem...

Updated : 2011.02.23 19:06

Korea boosts accounting transparency

Number of accounting firms more than triples in 10 years as demand grows The nation’s accounting transparency is approaching international standards after years of effort by financial regulators and...

Updated : 2011.02.23 19:00

Seoul shares open lower on Libya turmoil

South Korean stocks started lower on Wednesday as investor sentiment remained fragile amid concerns that political turmoil in Libya would jack up oil prices, analysts said. The benchmark Korea Compo...

Updated : 2011.02.23 10:01

FSC halts business at Domin savings bank

The Financial Services Commission said it has suspended Domin Mutual Savings & Finance, based in Chuncheon, Gangwon Province, saying that the bank’s capital shortages were excessive. The latest susp...

Updated : 2011.02.22 21:33

FSC, firms pledge support for savings banks

Deposit withdrawals from secondary banks sharply reduce as officials work to calm market The government and financial institutions were trying to calm savings banks’ jitters on Tuesday, pledging fre...

Updated : 2011.02.22 18:07

No more savings banks suspensions: FSC

The nation’s chief financial regulator on Monday strived to calm jitters among savings banks’ clients amid the growing fears of a bank run. Financial Services Commission Chairman Kim Seok-dong cal...

Updated : 2011.02.21 19:35

KB Financial names Choi to head card unit

KB Financial Group nominated Choi Gi-eui to head its new subsidiary KB Koomin Card on Monday. Choi currently heads the group planning the launch of KB Kookmin Card as a separate subsidiary. Choi Gi...

Updated : 2011.02.21 19:27

BOK bolsters foreign currency team

The Bank of Korea plans to strengthen its foreign exchange department to more efficiently manage its ever-growing currency reserves and better cope with market volatility. The central bank announced...

Updated : 2011.02.21 18:28

Fears of run on savings banks looming

FSC suspends 4 more second-tier banks 2 days after promising no new suspensions in H1 Financial regulators’ ongoing crackdown on savings banks is increasing the chances of a bank run under which a ...

Updated : 2011.02.21 10:57

Four savings banks suspended

The Financial Services Commission suspended operations of four savings banks on Saturday, following its similar sanction against three debt-saddled players since January. The regulator announced tha...

Updated : 2011.02.19 10:03