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Reporter : Yi Whan-woo
Sat, June 3, 2023 | 07:11
KB to host annual golf tournament
KB Financial Group will host a Korea Professional Golfers' Association (KPGA) tournament from Thursday to Sunday, offering 700 million won ($533,700) in prize money, including 140 million won for the winner, the company said Tuesday.
3rd straight rate freeze likely this week amid sluggish economy
The Bank of Korea (BOK) is expected to keep its key interest rate intact for the third consecutive time in its rate-setting meeting this week, as an economic slowdown has become a bigger concern than inflation, according to analysts, Sunday.
[INTERVIEW] Korea to showcase economics prowess at World Congress in 2025
The academic discipline of modern economics in Korea and the nation's economic flourishing following the 1950-53 Korean War share strong parallels. This makes Korea a distinct and fitting case study as it prepares to be the next host of the Econometric Society World Congress (ESWC). The country is looking forward to sharing its remarkable economic success on one hand and its ...
Hana, SK join hands on cross-business cooperation
Hana Financial Group joined hands with SK Group to enhance cooperation across business boundaries and develop services to better serve their respective customers, the banking group announced on Tuesday. According to the banking group, three affiliates each from the two groups will share their respective customer data.
Default looms large for self-employed as COVID-19 emergency ends
The risk of default faced by small businesses and the self-employed throughout the COVID-19 pandemic is looming large again, after the government declared an end to classifying COVID-19 as a health crisis last week.
Gov't, Assembly remain divided over belt-tightening policy
The government and the opposition-led National Assembly remain poles apart over the government's push to curb the fiscal deficit and improve financial soundness.
Will utility fee hikes affect inflation cooldown?
The hikes in the costs of utilities starting Tuesday are prompting speculation over how they may affect the course of inflation, which has been cooling down in recent months. Analysts said Monday the price increases are not likely to disrupt the easing of headline inflation, the overall measure of change in value of all goods and services within an economy.
Fiscal deficit grows faster than expected amid falling tax revenue
Korea's fiscal deficit surpassed 90 percent of the total amount projected for all of 2023 in the first three months of the year, data showed. The government is struggling with falling tax revenue while clinging to belt-tightening policy to improve financial soundness.
US default would send shockwaves through global markets: experts
The possibility of the U.S. government defaulting on its debt could cause repercussions in Korea and seriously dent its efforts for economic recovery, even though the chances of that happening are slim, according to analysts in Seoul, Friday. The experts noted that the Korean financial market is highly influenced by the U.S. economy and a failure in raising the U.S. debt ceil...
Delinquency rate of businesses adds to economic concerns
Companies are borrowing more money from banks while increasingly failing to make repayments on time, fueling concerns of corporate debt and risks of defaults that can further disrupt the country's efforts to revitalize its sluggish economy. According to data from five major banks, KB Kookmin, Shinhan, Hana, Woori and NH NongHyup, Thursday, the remaining balance of loans taken...
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