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Fri, October 23, 2020 | 20:32

Financial authorities concerned about group chairs' 'emperor-like power'

Financial authorities concerned about group chairs' 'emperor-like power'

The country's top financial supervisor and regulator called for a greater scrutiny of financial group heads whose “limitless power” has resulted in a slew of corrupt business practices including hiring fraud.

Lee Kyung-min | 2020-10-23 16:57

Gov't hints at intervening in forex market

Gov't hints at intervening in forex market

Continued volatility in the foreign exchange market will necessitate government intervention, a pre-emptive measure to limit swings in the value of the won hit by supply and demand mismatch amid continued market volatility, the country's finance minister said Thursday.

Lee Kyung-min | 2020-10-22 17:55

Kakao mentors Bank of Korea on AI, blockchain

Kakao mentors Bank of Korea on AI, blockchain

Kakao is serving as the most important adviser to the Bank of Korea (BOK) for its digital innovation, which was selected as one of the central bank's four long-term development strategies on its 70th anniversary.

Park Jae-hyuk | 2020-10-22 14:24

A simple math problem too difficult for FSC?

A simple math problem too difficult for FSC?

The Financial Services Commission (FSC) had abruptly removed a clause in a revision governing businesses having to select an accounting firm, in a desperate, last-minute attempt at saving face following what essentially was a simple failure to “do the math,” according to sources Monday.

Lee Kyung-min | 2020-10-21 16:46

Gov't relief should prioritize manufacturing, IT jobs: KDI

Gov't relief should prioritize manufacturing, IT jobs: KDI

Government emergency relief should focus on retaining jobs in the manufacturing and other industries in the “tradable sector,” as part of a long-term move to limit the loss of quality jobs which will lead to a significant subsequent downturn in the service and retail industries, a state-run think tank said Wednesday.

Lee Kyung-min | 2020-10-21 16:44

Gov't needs to compile data on foreign home buyers

Gov't needs to compile data on foreign home buyers

The government is being urged to set up a system to compile data on properties owned and traded by foreign nationals to better identify taxable income and prohibit speculation amid their suspected growing presence in the property market, a ruling party lawmaker said Tuesday.

Lee Kyung-min | 2020-10-20 16:58

Korea can be used as haven for foreign landlords

Korea can be used as haven for foreign landlords

Korea can be used as haven for foreign landlords

The government is facing calls to prevent foreign landlords from fleeing abroad without returning rental deposits to their tenants, after it was revealed that some were able to use loopholes in domestic real estate laws.

Park Jae-hyuk | 2020-10-20 15:35

Gov't needs to compile data on foreign home buyers

Questions linger over New Deal Fund

Questions linger over New Deal Fund

The much-hyped New Deal Fund may not be as effective a growth plan as the government expects, unless preceded by a drastic measure to guarantee profit margins acceptable to businesses that have no need to borrow money at a higher rate from the fund pooled by the public, experts said Thursday. The profit-oriented infrastructure builders and renewable energy producers will have...

Lee Kyung-min | 2020-10-19 18:13

Finance ministry's portal 'useless'

Finance ministry's portal 'useless'

Open Fiscal Data, a tax revenue and expenditure data portal set up and operated by the Ministry of Economy and Finance, remains underutilized by the public despite a hefty investment of 600 million won ($525,000) spent to update the system in 2018, an opposition party lawmaker said Monday.

Lee Kyung-min | 2020-10-19 16:55

Korea needs to embrace inclusive policies for multiracial families

Korea needs to embrace inclusive policies for multiracial families

Korea needs to become more accepting of those with foreign backgrounds, a task that requires continued nationwide advertising and education campaigns to end discrimination, experts said Sunday. Social cohesion will be best achieved through consistency in education and awareness-raising programs, backed by sensitivity training of not only children but also their parents and ed...

Lee Kyung-min | 2020-10-18 17:34

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