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Sun, December 3, 2023 | 09:30

AI poses greater risks to highly educated, high earners: BOK

AI poses greater risks to highly educated, high earners: BOK

The jobs of doctors, accountants, asset managers and lawyers are more likely to be replaced by artificial intelligence (AI), compared to workers in the face-to-face service industries, a central bank report said Thursday.

2023-11-16 15:58

[INTERVIEW] Fintech founder hopes to resolve information asymmetry in real estate market

INTERVIEWFintech founder hopes to resolve information asymmetry in real estate market

In real estate transactions, where expenses can range from several million to hundreds of millions of won, there is an inherent anxiety involved. The growing incidence of rental fraud exacerbates the fears of those new to the real estate world. This is a market characterized by heightened information asymmetry, a defining trait of the real estate industry.

2023-11-16 08:30

Banks may have to cough up $1.4 billion in 'windfall tax'

Banks may have to cough up $1.4 billion in 'windfall tax'

Local commercial lenders are coming under increasing pressure to cough up about 1.9 trillion won ($1.4 billion) for a “windfall tax,” which the main opposition Democratic Party of Korea (DPK), seeks to impose on interest income generated almost exclusively as a consequence of rapid central bank key rate hikes over the past few years.

2023-11-15 16:23

IPOs on KOSPI log worst performance in past 5 years

IPOs on KOSPI log worst performance in past 5 years

This year's initial public offerings (IPOs) made on Korea's main benchmark, the KOSPI, are expected to record the poorest performances in the past five years, due mainly to increased market volatility from soaring interest rates and unfavorable external conditions.

2023-11-15 16:18

ESG investments lose steam in Korea

ESG investments lose steam in Korea

Interest in environmental, social and corporate governance (ESG) investments seems to be waning in Korea due to a worsening economic outlook and continuing high interest rates. The trend becomes evident in both money flows observed in domestic exchange-traded funds (ETFs) on the theme of ESG investment, and the funds' returns during the past months.

2023-11-14 16:02

Retail investors take up 64% of Korean stock market

Retail investors take up 64% of Korean stock market

Retail investors accounted for 64 percent of annual transaction amounts in the Korean stock markets last year, the highest ratio in global stock markets, showing the relative strength retail investors wield over the local stock markets compared to other countries. In the U.S. or Japan, the ratio is about 30 percent on average.

2023-11-14 16:00

Seoul shares end lower on Fed chief's hawkish comments, Tesla

Seoul shares end lower on Fed chief's hawkish comments, Tesla

Korean stocks finished lower Friday after the U.S. Federal Reserve's chief hinted that interest rates could be raised further and Tesla dropped overnight. The local currency fell against the greenback.

2023-11-10 21:27

Samsung, HYBE, SK hynix become foreign investors' favorites after short selling ban

Samsung, HYBE, SK hynix become foreign investors' favorites after short selling ban

Foreign investors have raked in Samsung Electronics, HYBE and SK hynix shares during the first four trading sessions, after a complete short selling ban began on Monday.

2023-11-10 15:50

Foreigners sell Korean stocks for 3rd month in October amid geopolitical woes

Foreigners sell Korean stocks for 3rd month in October amid geopolitical woes

Foreign investors sold Korean stocks for a third straight month in October amid risk aversion that stemmed from the Israel-Hamas conflicts, central bank data showed Friday.

2023-11-10 14:36

Woori hit for repeated employee embezzlement amid internal control failure concerns

Woori hit for repeated employee embezzlement amid internal control failure concerns

The Financial Supervisory Service (FSS) fined Woori Financial Group 100 million won ($76,254) after an employee of the group’s savings bank subsidiary was found to have embezzled over 200 million won, in yet another indication of internal control failures, according to market watchers, Thursday.

2023-11-09 16:18

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