Moody’s maintains S. Korea’s credit rating at Aa2

　Global ratings firm Moody’s has kept the credit rating of South Korea at Aa2, affirming the outlook at stable, according to the Ministry of Economy and Finance on May 12. 　The US rating firm holds discussions with the ministry and the state-run Bank of Korea on a regular basis before announcing a credit rating report for the nation. 　The rating agency cited the nation’s strong economic fundamentals, and quick economic recovery from the coronavirus pandemic as some of the reasons

Korean banks brace for India’s COVID crisis

After Myanmar’s military coup, banks’ overseas expansion plans face yet another major hurdle in India

[Market Close-up] Financial firms scurry to forge cross-industry partnerships for data-driven innovation

　Cross-industry partnerships in the financial sector are in full swing as banks seek to transform personal data into a new revenue source, ditching their reliance on interest rates. 　Commercial lenders and credit card companies have been rushing to forge alliances with mobile carriers and retailers to compile large volumes of customer data from business partners in order to provide personalized products and to fuel data-driven marketing activities. 　The competition was ignited by the governme

SKIET shares lose vitality after Kospi market debut

　SK ie technology, a battery materials subsidiary of refinery and battery firm SK Innovation, rose on its market debut on the South Korean main board on May 11, but lost value over the trading day, despite rosy market forecasts. 　As soon as the opening bell rang, shares of SKIET started off at 210,000 won ($187.64), doubling its initial public offering price, but closed at 26.43 percent down from their opening price, at 154,500 won. On the first day of trading, the company’s market capit

From textile to advanced biochemicals, Ventex expands, evolves

Researcher-turned-entrepreneur sees huge potential for its antibacterial spray lineup

‘Safety is taking a back seat in Korea’s vaccine rollout’

South Korea’s COVID-19 vaccination program has on critical occasions disregarded evidence-based approach and principles of safety first, a top infectious disease epidemiologist and vaccine expert said. “In a race to vaccinate Koreans as quickly as possible, safety concerns went unaddressed, costing in the process what is most integral to any successful vaccination program -- public trust in the system,” Dr. Chun Byung-chul, a professor at Korea University’s preventive

Cosmetic surgery review app aims to capitalize on K-beauty boom

When walking into a restaurant, people usually have a sense about how expensive the food would be. But when it comes to cosmetic surgery clinics here, it is a different story. Not many -- perhaps none -- openly display the price of their services or procedures, not to mention the specs of medical equipment they use. “Say that I want to receive a skin toning laser treatment and there are two hospitals. One uses equipment that costs 200 million won (about $180,000), and the other uses o

Anyang’s ‘Iron Man’ mayor charts ground-breaking path

Mayor Choi Dae-ho helps expand city’s international network, undertaking first-ever projects and spearheading measures to fight COVID-19

Moon's leaflet stance effort to manage NK ties before summit with Biden: experts

In a speech marking the start of his final year in office, President Moon Jae-in issued a strongly worded statement, apparently condemning an activist group for sending anti-Pyongyang leaflets across the inter-Korean border.  　 “It is never desirable to dampen inter-Korean relations by violating inter-Korean agreements and current laws. I stress that the government has no choice but to strictly enforce the laws,” Moon said Monday in a televised speech. 　 While the president d

Samsung estate sparks debate on inheritance tax

Business circles call for alleviation, govt. refrains from immediate action

Government urged to take swift action as small businesses reel from COVID-19

Revenue plunged for self-employed businesses last year amid pandemic

Korea outstrips US, Japan in property taxes

Korea No. 7 in tax-to-GDP, No. 2 in growth pace in OECD