Top diplomats of S. Korea, US discuss NK nuclear issue

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Deutsche Bank New York, Hong Kong staff summoned over stock manipulation

South Korean prosecutors have summoned about a dozen employees of Deutsche Bank's New York and Hong Kong offices for questioning over alleged stock manipulation that forced the key index to nosedive ...

Updated : 2011.04.25 21:51

Regulator probes SC First Bank's illegal metal loan business

South Korea's top financial regulator said Monday that it has launched a probe into SC First Bank, the local unit of British banking giant Standard Chartered Plc, on allegedly infringing domestic ban...

Updated : 2011.04.25 21:38

Income polarization deepens

Income inequality widened over the past decade, with the gains among the top 20 percent rising by more than half while those of the poorest 20 percent more than halved, the tax agency said Monday. T...

Updated : 2011.04.25 18:56

FSS admits savings bank info leak

The Financial Supervisory Service is facing allegations that it failed to prevent its internal information from being leaked concerning the regulatory policies on savings banks. Among the allegation...

Updated : 2011.04.25 18:49

Soured construction loans threaten banks

Five major banks see overdue project finance loans hit W3.3tr Troubled soured loans issued to the construction sector, which have already dealt serious blows to some savings banks, may also threaten...

Updated : 2011.04.25 18:49

30 groups see debts surge 51% in 3 years

Combined debts of Samsung, Hyundai Motor grow by 89 trillion won The nation’s 30 biggest business groups saw their combined debts snowball over the past three years, which could undermine their fina...

Updated : 2011.04.24 19:27

KOSPI rallies on IT shares

Earnings-driven buying sprees in IT shares, in a market waiting for a second round of capital inflows, are pushing Seoul shares to record high levels, analysts said Thursday. “Investors, including ...

Updated : 2011.04.21 19:04

Savings banks recoup W1tr every year in service fees

The nation’s savings banks have reaped more than 1 trillion won ($900 million) in service fees per annum over the past five years, a lawmaker revealed Thursday. Citing data gained from financial re...

Updated : 2011.04.21 18:53

Financial industry to tighten IT security

Companies considering bigger budget and greater restrictions to protect data The local financial sector geared up to tighten security of its IT systems after watching hackers take advantage of secur...

Updated : 2011.04.21 18:52

Central bank, FSS agree to tighten oversight of FX trade

The central bank and the financial regulator decided to jointly examine banks’ foreign currency trade activities to keep them in check against speculative investments. The inspection comes as the wo...

Updated : 2011.04.21 18:50

Samsung Life earnings more than double in 2010

Samsung Life Insurance Co., South Korea's top life insurer, said Thursday that its earnings more than doubled in fiscal 2010 from a year earlier thanks to investment gains from its securities holding...

Updated : 2011.04.21 11:29

Financial security loopholes stir debate over BOK’s role

Question of central bank’s supervisory authority emerges Recent security incidents in the financial sector have reignited debate on whether the Bank of Korea should have authority to conduct indepen...

Updated : 2011.04.20 18:55

[News Focus] Is time up for Nonghyup chairman?

Nonghyup executives under fire as calls mount for chairman’s ouster Choi Won-byung, chairman of the embattled National Agricultural Cooperative Federation, faces intensifying pressure to step down ...

Updated : 2011.04.20 18:55

Competition brewing over fledging hedge funds

Brokerages seek to capture rich investors on expectations of financial deregulation Brokerages are struggling to capture wealthy investors with high-yielding private equity products as deregulation ...

Updated : 2011.04.20 18:53

Credit card spending up 16.2% in Q1

South Korea’s credit card spending expanded 16.2 percent in the first quarter from a year earlier amid the country’s consumer price advance, a trade association said Wednesday. Purchases made by cre...

Updated : 2011.04.20 18:52