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Tue, May 30, 2023 | 13:58
Vietnam emerges as major market for Korean chipmakers
Vietnam is quickly emerging as a major market for Korean semiconductor makers, which have been struggling amid sluggish chip demand in China, according to a report by the Bank of Korea (BOK), Monday. The BOK stressed the importance of diversifying export markets for Samsung Electronics and SK Hynix in light of the escalating rivalry between the U.S. and China.
SC Bank Korea promotes high-interest Jaeil EZ Account
Standard Chartered (SC) Bank Korea is running a promotional event offering high-interest returns for new customers who open a Jaeil EZ Account by the end of May. The bank offers an annual interest rate of up to 3.6 percent on a pre-tax basis, even if account holders deposit money for just a single day.
Top 20% of income earners fuel increase in Q1 consumption as pandemic ends
The top 20 percent of income earners in Korea have been opening up their wallets in the first quarter, especially since the government has lifted nearly all quarantine measures. This wealthy group is driving domestic consumption, showing a surge in outdoor activities and travel.
Concerns grow over KEPCO's credit rating
International credit rating agency Moody's has recently downgraded the baseline credit assessment (BCA) of Korea Electric Power Corp. (KEPCO). It moved from Baa2 to Baa3, which is the lowest within the agency's investment grading system.
Can Seoul succeed in transforming Yeouido into a global financial hub?
Seoul revealed its blueprint to establish Yeouido as a global financial hub, but concerns are rising that the city still has a long way to go before it can emulate its models - London and Singapore. On Thursday, Seoul began soliciting public opinions on its plans to elevate the environment of the district to international standards, as part of its aim of transforming the city...
Rise and fall of 'Battery Ajeossi,' hero of individual investors
Park Soon-hyeok, the former public relations director of Kumyang, who is better known as “Battery Ajeossi (uncle)” to the public, has suddenly announced the cessation of his public activities and disappeared from the media.
K bank enters car loan market with Deutsch Motors
Following its previous expansion into credit and mortgage loans, K bank is now entering the car loan market in collaboration with Deutsch Motors. This marks the first time an internet-only bank has taken such a step in Korea.
Shinhan Bank Vietnam receives award for digitalization efforts
Shinhan Bank Vietnam, a subsidiary of Shinhan Bank, was awarded by the State Bank of Vietnam (SBV) for its digitalization efforts. It was the only foreign-affiliated firm to receive an award at the event, the bank announced on Tuesday.
Financial regulator plans to freeze accounts of stock market manipulators
The bank accounts of those suspected of manipulating stock prices will be frozen and their illegally earned profits will also be confiscated. These are part of plans announced by financial regulators in what they are calling their “war against those who disturb the market.” The Financial Services Commission (FSC), the Financial Supervisory Service (FSS), Korea Exchange (KRX) ...
Tax shortage forces gov't to mull restricting budget spending
With a fiscal deficit looming, government restrictions on budget spending are looking increasingly inevitable. Given the challenges in planning a supplementary budget and the finance minister's opposition to it, cutting expenditures is currently the most viable option to address the fiscal deficit.
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