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Reporter : Yi Whan-woo
Sun, August 14, 2022 | 12:10
Inflation set to get worse following record rainfall
The record rainfall witnessed this week is feared to further accelerate inflation in the lead up to Chuseok as the unexpected downpour compounds unfavorable harvest conditions and disrupts the supply of agricultural goods. Around Chuseok, a traditional mid-autumn holiday in Korea, prices normally rise as many people go shopping to prepare festive dishes. It falls this year on...
Vacationers warned not to buy marijuana cookies in Thailand
Eating “samgyeopsal” with a glass of soju while traveling Thailand can bring the peculiar joy of having popular Korean barbeque in an exotic environment. Still, Korean tourists are advised to be cautious, as the aforementioned Korean meal may be served with marijuana, which is forbidden in Korea, according to the nation's customs agency
Woori Financial, WWF co-host circular economy conference
Woori Financial Group, jointly with the World Wildlife Fund (WWF), hosted a conference on circular economy in Seoul in line with the international green campaign, the lender said Wednesday. The circular economy refers to a concept that gives incentives to reusing products, rather than discarding them and then extracting new resources.
Korea's job market losing steam amid COVID-19 resurgence
The pace of the country's job growth slowed for the second straight month in July amid the resurgence of COVID-19 and such a trend is likely to continue throughout the remainder of year due to increasing economic downside risks, Statistics Korea announced on Wednesday.
Banks capitalize on animated characters to appeal to more customers
Commercial banks are using animated cartoon characters to appeal to people's emotions and improve their brand image, in stark contrast to a decade ago when they mostly relied on celebrities in their promotional campaigns. Virtually every top-tier bank has iconic animated characters, including animals, fish and vegetables, which are developed to address their vision and princi...
Hana Bank wins Digital Banking Award 2022 for mobile services
Hana Bank said Tuesday that it won a globally recognized award for its mobile banking service. The lender won in the mobile category of the Innovation in Digital Banking Awards 2022 from The Banker, a U.K. monthly magazine owned by the Financial Times.
Gov't aims to sell off $12.2 billion worth of state-owned properties
The government will sell off 16 trillion won ($12.2 billion) worth of state-owned properties that are rarely used, as a part of efforts to improve the efficiency of the public sector. The targeted properties will be on sale over the next five years and the government expects the plan will lead to a cycle of assets being sold by the public to the private sectors in line with P...
KB Financial wins Red Dot Design Award for local wine packaging
KB Financial Group said Monday it won an internationally-renowned design award for the packaging design of a special set of wines that are produced in its project aimed at supporting small businesses in Korea's rural areas. The nation's largest banking group said the “Star Friends Wine Collection” won in the brands and communication design category of the Red Dot Design Award...
Woori Bank to invest $7.7 million in 10 promising startups
Woori Bank will spend 10 billion won ($7.7 million) on 10 promising startups that it plans to support through an open contest, the lender said Sunday. The bank said it will start receiving applications from Aug 8 to 19 from any startup that has potential for innovation and growth and is also interested in receiving funding.
Gov't considers slashing tariffs on imported produce ahead of Chuseok
The government is anticipated to lower tariffs on imports of vegetables, fruits and other agricultural products in high demand temporarily in the lead up to Chuseok holiday, according to sources familiar with the matter, Sunday. Under the policy on tariff rate quotas, duties on imported target items can be cut far below the regular rate - possibly even to zero - in a bid to t...
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