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The Korea Times

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SCMP
Asia

The Korea Times

Finance

Economy

Thu, March 23, 2023 | 11:30

Korea to raise guard against market instability after Fed rate hike

Korea to raise guard against market instability after Fed rate hike

Korea's chief economic policymaker warned Thursday of the possibility of further instability in the global financial market, such as a recent bank turmoil sparked by the failure of American lenders, amid the continued monetary tightening moves by the United States and major economies.

2023-03-23 09:57

Banks' bad loans up in Q4 on rise in overdue biz loans

Banks' bad loans up in Q4 on rise in overdue biz loans

Korean banks' nonperforming loans expanded in the fourth quarter from three months earlier on a rise in overdue corporate loans, data showed Wednesday.

2023-03-22 13:43

Foreign currency deposits shrink sharply in Feb. on declined corporate savings

Foreign currency deposits shrink sharply in Feb. on declined corporate savings

Foreign currency deposits shrank at the fastest pace in about 11 years in February on decreased corporate savings, central bank data showed Wednesday.

2023-03-22 13:42

[INTERVIEW] Retired FSC chief finds inspiration exploring Koreans' ancestral roots

INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots

A veteran financial bureaucrat for over thirty years, Kim Seok-dong was a key architect of Korea's economic growth from 1980 to 2013. Known for his intelligence, focus and natural charisma, he succeeded at climbing to the top echelon of the financial authorities, serving as a Chairman of the Financial Services Commission (FSC) - Korea's top financial regulator - for three yea...

Anna J. Park | 2023-03-22 08:15

Gov't considers restoring Korea-Japan finance ministers' meeting

Gov't considers restoring Korea-Japan finance ministers' meeting

The government is considering resuming an annual meeting between the finance ministers of Korea and Japan in response to reconciliation efforts pledged by the leaders of the two countries at their latest summit, according to sources, Tuesday.

Yi Whan-woo | 2023-03-21 16:37

Foreign banks in Korea see net jump over 40% in 2022 on derivatives profits

Foreign banks in Korea see net jump over 40% in 2022 on derivatives profits

Foreign bank branches in Korea saw their combined net profit jump over 40 percent in 2022 due to a rise in earnings from derivative products amid heightened market volatility, data showed Tuesday.

2023-03-21 14:29

Korea endorses World Bank president nominee Banga

Korea endorses World Bank president nominee Banga

Korea's finance ministry said Tuesday it has decided to endorse the U.S.-picked nominee for the president of the World Bank, expressing hope for closer ties between Asia's No. 4 economy and the Washington-based organization.

2023-03-21 12:46

Exports down 17.4% during first 20 days of March

Exports down 17.4% during first 20 days of March

Korea's exports fell 17.4 percent on-year in the first 20 days of March, data showed Tuesday, amid the protracted downcycle in the global semiconductor industry.

2023-03-21 09:44

Producer prices up for 2nd straight month in February

Producer prices up for 2nd straight month in February

Korea's producer prices rose for the second straight month in February as service prices increased, central bank data showed Tuesday.

2023-03-21 09:34

Korea sets record of half million economically inactive youth

Korea sets record of half million economically inactive youth

Almost half a million young people between the ages of 15 and 29 were economically inactive without searching for or preparing to get a job last month, data showed. The number of young people taking time off has been increasing each year as more give up looking for work.

Lee Yeon-woo | 2023-03-20 16:47

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Top 10 Stories

1	Korean firms balk at donating to fund compensating victims of Japan's forced labor

2	Sexual assaults by Korean diplomats continue despite zero-tolerance policy

3	Consumers choose to travel abroad over purchasing luxury goods

4	Main opposition leader indicted, faces calls to resign

5	World water day

6	Outback Steakhouse sees sales soar as it opens stores in large shopping malls

7	Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared

8	Korean pension fund hit by overseas banking crisis

9	INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots

10	Campaign launched to promote equal treatment for multicultural families

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