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Reporter : Yoon Ja-young
Mon, December 11, 2023 | 12:00
Korea's 100 richest in housing own 21,000 homes
The country's richest 100 people in terms of housing ownership possess nearly 21,000 homes. The total official value of these homes exceeds 2.5 trillion won ($1.74 billion). According to Statistics Korea data submitted to Rep. Kim Hoi-jae of the main opposition Democratic Party of Korea, the 100 most prolific homeowners in the country owned 20,689 units of housing as of 2020....
Koreans consume 53 bottles of soju, 83 bottles of beer a year
The average adult residing in Korea consumed on average 53 bottles of soju and 83 bottles of beer last year, data showed. That is equal to a bottle of soju and nearly two bottles of beer a week. According to National Tax Service (NTS) data submitted to Rep. Kim Sang-hoon of the ruling People Power Party, 825,848 kiloliters of soju was shipped out from local soju breweries las...
Brokerages lose credibility due to dearth of sell recommendations
The country's securities firms are losing investors' trust as their analysts are only recommending buying shares in their reports, while sell recommendations account for only 0.13 percent of the total reports. According to Financial Supervisory Service (FSS) data submitted to Rep. Kang Byung-won of the main opposition Democratic Party of Korea, the country's 32 securities fir...
MBK Partners chairman donates $10 million to the Met
MBK Partners' co-founder and partner Kim Byung-ju is donating $10 million to the Metropolitan Museum of Art in New York, the museum announced Tuesday. The museum will name a gallery after Kim and his wife, which will be the first gallery in the museum named after a person of Korean descent.
Korea should raise the official age of senior citizens to 73: researcher
In Korea, people are categorized as senior citizens once they reach 65. In the future, they may have to wait until 73 to be defined as such, as a research think tank suggested raising the official age of senior citizens in an attempt to reduce social welfare spending. Lee Tae-suk, director of the department of public finance and social policy at the Korea Development Institut...
Government moves to overhaul inheritance tax system
The Yoon Suk-yeol administration took the first step to lower inheritance tax rates, following an announcement in July that it will overhaul the inheritance tax system. The Ministry of Economy and Finance announced recently it is taking bids for a research project looking into the introduction of an inherited property acquisition tax system.
Banks to toughen monitoring to prevent voice phishing
When a bank customer wants to withdraw a lump sum of money from their account, they will be asked some specific questions to prevent them from falling prey to voice phishing starting next month, the financial regulator announced on Thursday.
RCI Financial Services Korea appoints new CEO
RCI Financial Services Korea, a specialized automotive finance affiliate of Renault Group and Renault Korea Motors, announced on Monday that it has appointed Alexander Zhurkin as its new CEO. Recognized for his achievements as a development expert and global strategist, Zhurkin has more than 20 years of professional experience in Europe, North America and Russia through Phili...
[INTERVIEW] Data essential for 'evidence-based decisions': Statistics Korea commissioner
Let's say someone wants to open a fried chicken restaurant near his home. Is it a good location to start the business? The person can get some idea by visiting the Statistical Geographic Information Service (SGIS) offered by Statistics Korea, where diverse kinds of information, such as the number of residents, whether they are in their 20s, 30s, or 40s, how each demographic g...
Coordination between Asia-Pacific central banks
Bank of Korea Governor Rhee Chang-yong, fifth from left, poses with Financial Supervisory Service (FSS) Governor Lee Bok-hyun, fourth from left, and other participants of the Executives' Meeting of East Asia-Pacific Central Banks held at the Korean central bank's headquarters in downtown Seoul, Tuesday. Participating at the meeting ― either online or in-person ― were the cent...
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