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Reporter : Lee Yeon-woo
Mon, September 25, 2023 | 01:17
Transfer of wealth to younger generations could energize economy
As Korea's population ages rapidly, wealth becomes increasingly concentrated among older people, particularly those aged over 60. This could undermine economic activity which may otherwise be revitalized by younger people with a propensity to spend, leading experts to suggest the transfer of wealth to young people should be considered as a major policy initiative.
Financial firms vie for lead in private carbon market
Some corporations in Korea have been promoting their products for almost two years as being powered by “carbon neutral gas” or “carbon neutral LNG.”It's common knowledge that fossil fuels contribute significantly to the climate crisis by releasing large amounts of carbon emissions into the atmosphere. So how is it possible for these carbon neutrality claims to be true?
What's behind sluggish banking shares?
While U.S. financial stocks are soaring in the first half of the earnings season, domestic Korean bank stocks are struggling to keep pace.
Kim Min-jae's transfer poses potential marketing setback for Dunamu
Dunamu, the company operating Korea's leading crypto exchange Upbit, may face a potential marketing setback with the expected transfer of Korean football player Kim Min-jae away from SSC Napoli.
Korea's household debt burden rises at 2nd fastest rate in world
The household debt burden in Korea is aggravating, with repayment based on one's annual income increasing at the second fastest pace in the world.
Financial groups support flood damage recovery
As heavy monsoon rain wreaks havoc across the country, leaving many reports of casualties and injuries, financial groups here are rolling up their sleeves to support those hit by the flood damage. They have donated billions of won for faster restoration, and are offering emergency loans to customers in need.
Potential US interest rate hike in July unlikely to impact Korean market
The key interest rate gap between Korea and the U.S. is anticipated to reach an unprecedented level of 2 percentage points, as the Bank of Korea (BOK) held the base rate steady at 3.5 percent Thursday.
Citibank Korea shares economic outlook for multinational companies
Citibank Korea announced on Friday that it hosted an economic outlook seminar for 20 CEOs and CFOs from major multinational companies, to offer insights and help its customers expand their business through the bank's global network and structured finance solutions.
BOK holds key rate steady at 3.5%, warns of household debt
The Bank of Korea (BOK) held the key interest rate steady at 3.5 percent for the fourth consecutive time Thursday amid waning inflation and a sluggish growth outlook, hinting that it will maintain a credit-tightening stance in the months to come. The central bank left open the possibility of a further rate hike to 3.75 percent, citing the U.S. Federal Reserve's rate hike and ...
Korea loses spot among world's top 10 economies
Korea ranked 13th in the world in terms of nominal gross domestic product (GDP) last year, failing to retain a spot among the top 10 global economies. Korea's nominal GDP was estimated at $1.67 trillion in 2022, according to Bank of Korea (BOK) data released on Wednesday.
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