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Reporter : Yi Whan-woo
Sat, June 3, 2023 | 06:16
Korea suffers lowest job growth in two years amid population decline
Korea added the lowest number of new jobs in two years in February, when the number of newly hired people aged below 60 fell by more than 100,000 from the month before in the face of a rapid population decline. Statistics Korea announced, Wednesday, the number of employed people amounted to 27.71 million last month, up 312,000 from a year earlier.
Economy | 2023-03-15 15:44
Record loss prompts relocation debate on pension operator's investment division
The record investment loss suffered by the National Pension Service (NPS) has sparked a debate over whether its investment division should be relocated back to Seoul from Jeonju, North Jeolla Province, to foster a more favorable working environment.
Companies | 2023-03-15 08:16
Average annual salary at internet-only lenders tops W100 mil.
Three digital banks in Korea pay around 100 million won ($76,000) in average annual salary to their employees, the companies said Tuesday in their respective reports. The biggest of the three, KakaoBank said its executives and rank-and file-employees received 107 million won on average in 2022.
Companies | 2023-03-14 16:22
Are Korean banks safe from SVB fallout?
The bankruptcy of Silicon Valley Bank (SVB) is raising questions over whether commercial banks in Korea are exposed to risks stemming from a sharp U.S. rate hike, which was behind SVB's downfall. Analysts said Tuesday that the management and business structure of Korean banks is quite different from that of SVB and that such differences enable local banks to withstand the adv...
Economy | 2023-03-14 16:12
Financial markets show resilience to SVB collapse
Financial markets in Korea remained resilient, Monday, in the face of the sudden bankruptcy of Silicon Valley Bank (SVB) that prompted concerns of an exodus of foreign capital in search of safer assets and a surge in market volatility. The benchmark KOSPI advanced 16.01 points, or 0.67 percent, to close at 2,410.60, following a three-day losing streak until Friday when SVB be...
Economy | 2023-03-13 16:57
SVB collapse adds to woes of NPS' record investment loss
The National Pension Service (NPS) had more than 100,000 shares in the Silicon Valley Bank (SVB) that has been suspended from trading as it became the largest U.S. bank to collapse since the 2008-09 global financial crisis, according to industry sources, Monday. The shares owned by the NPS were valued at over $230 billion as of the end of 2022.
Companies | 2023-03-13 16:57
SVB's collapse feared to trigger capital flight out of Korea
The sudden bankruptcy of Silicon Valley Bank (SVB), Friday, is sparking concerns in Korea of weakened investor confidence that could force foreign investors to scramble for safer assets and lead to a capital exodus from the Korean market. Financial authorities said, Sunday, they are closely monitoring the effects of the U.S. lender's debacle, which could significantly increas...
Economy | 2023-03-12 16:59
Eximbank donates cars to charity organizations for multicultural families
Export-Import Bank of Korea (Eximbank) donated cars to charity organizations dedicated to supporting multicultural families in Korea, the state-run bank announced on Thursday. The lender said it donated a total of 12 cars, one each to charity organizations for migrant wives, their children and other members of multicultural families across the country.
Companies | 2023-03-09 16:23
Proxy adviser ISS opposes KB union-backed outside director
The Institutional Shareholder Services (ISS), the world's largest proxy adviser, has recommended shareholders of KB Financial Group vote against the nomination of an outside director endorsed by the group's labor union, according to industry sources, Thursday.
Companies | 2023-03-09 16:22
Woori Bank CEO abruptly resigns
Woori Bank CEO Lee Won-duk tendered his resignation, Tuesday, in the lead-up to the official appointment of new Woori Financial Group Chairman Yim Jong-ryong who competed with Lee for the nomination last month. Lee's decision came on the same day the banking group carried out a reshuffle of the CEOs of eight affiliates whose terms expired.
Companies | 2023-03-07 16:51
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