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Tue, July 16, 2019 | 07:59

BOK under growing pressure to cut key rates

The Bank of Korea (BOK) is under growing pressure to lower its key interest rate after U.S. Federal Reserve Chairman Jerome Powell strongly hinted at a rate cut later this month, Thursday. Experts said the BOK is likely to lower the benchmark rate in August at the latest if the Fed cuts its policy rate this month. The Korean central bank is scheduled to have rate-setting mone...

Jhoo Dong-chan | 2019-07-15 17:42

BOK faces further delay in building new head office

The construction of the Bank of Korea's (BOK) new head office won't start in the near future due to a legal issue between the procurement office and bidding builders, the central bank said.

Jhoo Dong-chan | 2019-07-14 17:08

Biz communities unhappy with minimum wage hike

Business communities have expressed dissatisfaction with the country's decision to raise the 2020 minimum wage. The Minimum Wage Council - comprising of representatives from labor, management and the public - announced Friday that next year's minimum wage has been set at 8,590 won ($7.30) an hour, up 2.87 percent from this year. The council's decision came after a 13-hour dis...

Kwak Yeon-soo | 2019-07-12 17:18

Korea to raise minimum wage for 2020 by 2.9%

To counteract Japan's retaliation

Minister of Economy and Finance Hong Nam-ki, third from left, speaks during a ministers' meeting held at the Export-Import Bank of Korea in Seoul, Friday, to discuss countermeasures against Japan's export curbs. The minister said at the National Assembly the same day that the size of the extra budget to cope with Tokyo's restrictions could exceed 120 billion won ($101 million...

Park Jae-hyuk | 2019-07-12 15:51

With future writers

Korea Housing Finance Corp. (HF) CEO Lee Jung-hwan, center, poses with winners of the first HF Policy Mortgage Literature and Creative Writing Contest at the Federation of Korean Industries Hall on Yeouido, Seoul, Thursday. / Courtesy of Korea Housing Finance Corp.

Jhoo Dong-chan | 2019-07-11 19:49

Moon discusses Japanese trade restrictions with business leaders

President Moon Jae-in presides a meeting with business leaders from the country's 30 major companies at Cheong Wa Dae, Wednesday, to discuss measures in response to the trade restrictions imposed by the Japanese government. From left are Kumho Asiana Group Vice Chairman Lee Won-tae, Mirae Asset Chairman Park Hyeon-joo, KT CEO Hwang Chang-gyu, GS Group Chairman Heo Chang-soo, ...

Jung Da-min | 2019-07-10 23:59

Moon warns Japan not to aggravate row

Helping farmers

Korea Exchange (KRX) Management Support division head Chae Nam-ki, second row seventh from left, poses with the exchange's employees and farmers at Buksam Village in Yeoncheon County, Gyeonggi Province, Wednesday. Chae and 40 KRX workers volunteered at the village to help farmers there. / Courtesy of Korea Exchange

Jhoo Dong-chan | 2019-07-10 20:59

Job creation posts biggest growth in 17 months

Korea added more than 281,000 jobs in June, the largest year-on-year jump in 17 months since January 2018, according to Statistics Korea, Wednesday. However, the number of people who lost or could not find jobs reached 1.13 million the same month, the highest number for June since 1999.

Jhoo Dong-chan | 2019-07-10 20:59

Training for officials from Latin America

Korea Exchange Management Support division head Chae Nam-ki, eleventh from left, applauds with financial industry officials from Latin America at the agency's office in Seoul, Monday. Under the topic of “Sustainable Capital Market,” Chae and guests from Latin America will discuss a wide range of financial topics including foreign direct investment during the five-...

Jhoo Dong-chan | 2019-07-08 21:28

FSC to launch taskforce for Lone Star suit

The Financial Services Commission (FSC) will launch a taskforce that will focus on affairs relating to financial disputes, the regulator said Sunday. The taskforce, scheduled to begin operation on July 19, is set to deal with the Lone Star suit with the government.

Kim Bo-eun | 2019-07-07 16:52

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