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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
Biden tells US to have confidence in banks after collapse
SVB collapse adds to woes of NPS' record investment loss
Large exposure limits for banks to be extended again amid SVB fallout
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
Bank stocks tumble; others rise on hopes for easier rates
Biden promises 'whatever needed' for US bank system
Biden tells US to have confidence in banks after collapse
Financial markets show resilience to SVB collapse
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
US stems SVB fallout by backing customer deposits
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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Roland Garros 2023
Airlines fiercely compete to acquire additional aircraft
More banks offer daily interest payments on deposits
Hyundai Elevator launches AI, IoT-powered maintenance service
Seoul imposes sanctions on North Korean hacking group for role in space launch
POSCO, GM expand joint EV battery materials investment in North America
LG Chem joins Korean firms strengthening ties with Japan
HMM tasked with preventing sale of Hyundai LNG to foreign firm
Korean stocks feared to lose steam on prolonged trade deficit, real estate doldrums
KAERI distances itself from Oxford professor's claim on Fukushima water
Roland Garros 2023