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Reporter : Yi Whan-woo
Sat, August 20, 2022 | 00:07
BOK raises key rate to 1.75%, signals more hikes soon
The Bank of Korea (BOK) hiked its key interest rate by a quarter percentage point to 1.75 percent, Thursday, its first back-to-back rate increase in 15 years, in a desperate bid to fight inflation. BOK Governor Rhee Chang-yong hinted at additional hikes in the months to come, stressing that the central bank will place a top priority on keeping prices under control over growth...
Economy | 2022-05-26 16:57
Consumers' inflation outlook hits 10-year high
Consumers' expectation for inflation hit its highest level in nearly a decade at 3.3 percent in May, according to a Bank of Korea survey (BOK), Tuesday, fueling concerns of intensifying inflationary pressure amid soaring oil and raw materials prices. Accordingly, it is presumed that the BOK may raise its key rate faster than expected to preemptively keep inflation under contr...
Economy | 2022-05-24 17:00
KB Financial vows to expand partnership with Jefferies Financial Group
KB Financial Group said Tuesday its Chairman and CEO Yoon Jong-kyoo met with Brian Friedman, president of the U.S. investment banking company Jefferies Financial Group, to discuss consolidating their partnership to help the Korean firm expand its presence in the global investment banking industry. They will widen their partnership from the ongoing cooperation between KB Finan...
Companies | 2022-05-24 16:50
Korea, US get closer to currency swap deal after summit
The latest summit between the leaders of Korea and the United States has raised expectations that the two allies will soon sign a currency swap agreement, since they agreed to cooperate closely to develop the foreign exchange market, according to experts, Monday. Such expectations stem from growing calls for the revival of the currency swap deal here amid a rapid depreciation...
Economy | 2022-05-23 16:49
IBK chairman in consideration for Prime Minister's chief officer position: sources
Industrial Bank of Korea (IBK) Chairman and CEO Yoon Jong-won may well be the strongest candidate as the chief of Office for Government Policy Coordination, according to political and financial sources, Monday. Whoever fills the position will be responsible for assisting new Prime Minister Han Duck-soo to coordinate administrative issues.
Companies | 2022-05-23 15:05
Hana Financial to widen support for aspiring young entrepreneurs
Hana Financial Group will expand nationwide support for university students who aspire to start their own business. The country's fourth-largest banking group said Sunday it signed a memorandum of understanding (MOU) with Korea National University of Cultural Heritage as part of a project named “Hana Social Venture University.”
Companies | 2022-05-22 16:54
Summit tips Korea's economic axis toward US
The bilateral summit between leaders of Korea and the United States, Saturday, shows Seoul's tilt toward the U.S. concerning the economy, which accordingly is anticipated to benefit from the Washington-led alliance in global supply chain networks and trade. But because such a move could mean an end to Seoul's double allegiance to Washington and Beijing, they have the risk of ...
Economy | 2022-05-22 16:54
Summit could pave way for currency swap: analysts
A possible revival of an expired currency swap contract between Korea and the United States is raising hopes here, as the agenda to be covered during a scheduled summit between the leaders of the two countries in Seoul, Saturday, apparently prioritizes close links between the economy and national security. But while it remains uncertain if a bilateral currency swap is on the ...
Economy | 2022-05-20 08:26
KB Financial launches campaign to save bees
KB Financial Group has launched a campaign to save bees, which are vital pollinators for food crops, yet are dwindling in their numbers due to air pollution and other human causes of climate change. The campaign comes on the occasion of World Bee Day on May 20 and the International Day for Biological Diversity on May 22, both observed by the United Nations, and also as a part...
Companies | 2022-05-19 15:44
[INTERVIEW] Reviving currency swap deal with US is matter of restoring trust: ex-FSC chief
The possible revival of a currency swap deal between Korea and the United States has emerged as a hot issue mainly due to concerns over the weakening Korean won against the U.S. dollar. But it is also a matter of restoring bilateral trust, says Institute for Global Economics (IGE) Chairman and CEO Jun Kwang-woo, in the lead-up to the first summit between the leaders of Korea ...
Economy | 2022-05-19 15:38
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