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Finance

Policies

Fri, March 5, 2021 | 21:50

Finance ministry to receive handsome dividends from IBK

Finance ministry to receive handsome dividends from IBK

The Industrial Bank of Korea (IBK) will pay 220.8 billion won ($196 million) in dividends to the Ministry of Economy and Finance, the state lender's largest shareholder with a 59.2 percent stake. This is an increase of about 55 billion from 166.2 billion paid out to the ministry in 2019.

Lee Kyung-min | 2021-03-05 16:17

Rising US treasury yields pushing exchange rate higher

Rising US treasury yields pushing exchange rate higher

Rising 10-year U.S. treasury yields are putting the brakes on the dollar's weakening valuation against the won amid hopes of an economic recovery here and abroad.

Lee Min-hyung | 2021-03-04 16:23

State-run organizations to strengthen ESG values

State-run organizations to strengthen ESG values

The government plans to require state-run entities to increase the number of environmental, social and governance (ESG) criteria in organizational governance plan subject to public disclosure, in a move to pave way for private firms to follow suit to advance sustainable growth initiative.

Lee Kyung-min | 2021-03-04 16:23

Angry investors

Angry investors

Members of Korea Stockholders Alliance, a group of individual investors, hold banners and signs criticizing the National Pension Service's (NPS) excessive sell position in the stock market which they claim is damaging individual investors, during a rally in front of the pension operator's office in Jeonju, North Jeolla Province, Thursday. The NPS sold shares worth 13 trillion...

Nam Hyun-woo | 2021-03-04 16:19

Gov't under fire for lax screening of ailing companies receiving support

Gov't under fire for lax screening of ailing companies receiving support

Korean banks are criticizing the government's allegedly lax screening of ailing companies that are selected to be recipients of state support.

Lee Min-hyung | 2021-03-04 09:09

Management of foreigners' ID to be strengthened

Management of foreigners' ID to be strengthened

Foreigners seeking to change their personal information will be required to undergo a more stringent verification process, in a strengthened measure to better prevent identity theft, according to a bill proposed by a ruling party lawmaker, Wednesday.

Lee Kyung-min | 2021-03-03 16:24

Korea to extend loan maturity again for pandemic-hit firms, merchants

Korea to extend loan maturity again for pandemic-hit firms, merchants

Korea's financial regulator said Tuesday local banks will extend loan maturity and delay interest payments again for smaller firms and merchants hit hard by the pandemic.

2021-03-02 19:51

Foreigners without local income likely to face mortgage ban

Foreigners without local income likely to face mortgage ban

Foreigners hoping to purchase high-priced property here without locally earned income are facing a high probability of a ban on taking out mortgages from domestic banks.

Park Jae-hyuk | 2021-03-02 16:06

Gov't proposes $13.3 billion extra budget to fund another round of relief aid

Gov't proposes $13.3 billion extra budget to fund another round of relief aid

Korea proposed an extra budget of 15 trillion won (US$13.3 billion) Tuesday to finance another round of relief aid for smaller merchants and the underprivileged hit hard by the pandemic. The extra budget, the third-largest ever, will be used to fund the 19.5 trillion-won relief aid package, the fourth of its kind, designed to help ease economic pains caused by the COVID-19 pa...

2021-03-02 12:42

Korea to unveil plan to further slow growth of household debt

Korea to unveil plan to further slow growth of household debt

South Korea's financial regulator will unveil a plan next month to further slow the growth of household debt, an official said Sunday. Household credit had reached a record high of 1,726.1 trillion won (US$1.55 trillion) as of December last year, up 44.2 trillion won from three months earlier.

2021-02-28 14:18

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