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Reporter : Lee Min-hyung
Sat, June 3, 2023 | 06:59
Physical connectivity key for Korean financial firms to make global leap forward
Most Korean financial firms are still globally disconnected, as few of them attempt to take on challenging and innovative tasks due to the country's outdated network separation rules, a renowned digital expert said in a recent interview with The Korea Times.
Investors urged to avoid steeply rising EcoPro stocks on overvaluation risk
EcoPro shares extended a sharp rally on Tuesday on its surprising triple-digit earnings growth, but market experts advised investors to be aware of overvaluation risks in the Kosdaq-listed leading rechargeable battery maker's stock price.
Tax agency promotes exports of Korean traditional alcohols
The National Tax Service (NTS) has launched a council dedicated to promoting exports of Korea's traditional alcohols, in a bid to tackle a rising liquor trade deficit, the tax agency said Tuesday. The K-Liquor Promotion Council pledged to rebrand the identity of Korean alcohols by developing proper naming that can better represent all the exported alcoholic products.
BNK, JB, DGB feared to suffer earnings fall on weak non-banking portfolio
Provincial banking groups such as BNK, JB and DGB Financial Group are forecast to suffer an earnings fall this year due to their weak non-banking business structures. Last year, the three financial holding firms generated robust profit growth, which was driven by improved loan-to-deposit margins amid global monetary tightening.
Mirae Asset chief donates dividends from asset management arm
Mirae Asset Financial Group Chairman Park Hyeon-joo on Monday donated all the dividends - 1.6 billion won ($1.21 million) worth - he received from the group's asset management arm, Mirae Asset Global Investments. Park has continued the donation campaign since 2010 when he pledged to put all his dividends received from the company toward the younger generations. The total dona...
Klaytn seeks to become versatile, sustainable blockchain
Klaytn, an open-source public blockchain developed by Korea's largest mobile platform operator Kakao, is seeking to become a more versatile public mainnet used in areas encompassing games, non-fungible token (NFT) and metaverse, Klaytn Foundation Director Sam Seo said in a recent interview. “Our primary goal is to keep sophisticating our blockchain network in a more sustainab...
Financial firms on track to scout top executives from rival firms
Financial firms here are scouting top executives from their competitors, in a move to add fresh energy to their corporate culture and embrace diversity in their hiring practices. KB Kookmin Bank recently appointed ex-NH Financial Group Chairman Son Byung-hwan as a new outside director. The lender has so far focused on hiring experts in the academic circle, but is now moving t...
Koreans go on revenge spending spree in Q1 as social distancing fizzles out
Lee Jin-seok, a 35-year-old office worker, increased his spending on trips after the government lifted the outdoor mask mandate in January. He plans to increase the frequency of trips not just in Korea, but also to neighboring countries despite the cost burden. Lee said he will continue traveling abroad, because the COVID-19 pandemic prevented him from doing so for the past t...
HYBE shares soar after Jimin of BTS tops Billboard chart
Shares of HYBE, the agency of K-pop superstar BTS, is on a robust rally after its member, Jimin, topped the Billboard Hot 100 chart with his new single. The stock price of Korea's most valuable entertainment company extended a surprising winning streak for three consecutive trading days until Thursday. According to data from the Korea Exchange, HYBE shares jumped 11.43 percen...
Busan activates WAVE platform for World Expo 2030 bid
The nation's southeastern port city of Busan has pledged to raise global awareness of WAVE - a collective intelligence platform - in an aggressive bid to host the World Expo 2030. WAVE was established by the Korea Chamber of Commerce and Industry (KCCI), with a view to helping resolve challenges facing humanity - such as climate change and education.
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