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Tue, May 30, 2023 | 19:35
Loan refinancing platform expected to push banks to lower rates
Loan refinancing platform expected to push banks to lower rates
Commercial banks and other financial firms are anticipated to lower lending rates to attract new customers following the launch, Wednesday, of an online, one-stop platform allowing borrowers to switch to other lenders.
Yi Whan-woo | 2023-05-30 17:19
Sluggish exports behind weak Korean won
Sluggish exports behind weak Korean won
The Korean won has remained weak against the U.S. dollar for more than a month and a half, hovering at the significant 1,300 won per dollar barrier despite the recent depreciation in the value of the dollar from its highs in 2022.
Yi Whan-woo | 2023-05-30 16:34
Korea's tax revenue to stay sluggish for time being: Choo
Korea's tax revenue to stay sluggish for time being: Choo
Korea's tax revenue is expected to remain sluggish for the time being due to weak corporate performances and a slump in the property market, the finance minister said Tuesday.
2023-05-30 15:30
Vietnam emerges as major market for Korean chipmakers
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.
Lee Yeon-woo | 2023-05-29 16:11
Korea's household debt-to-GDP ratio highest among 34 major economies
Korea's household debt-to-GDP ratio highest among 34 major economies
Korea's household debt-to-gross domestic product (GDP) ratio was the highest among the world's 34 major economies in the first three months of this year, data showed Monday. This has raised concerns that banks and other financial firms may face higher default rates amid higher interest rates and deepening economic warning signs.
Anna J. Park | 2023-05-29 15:47
Top 20% of income earners fuel increase in Q1 consumption as pandemic ends
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.
Lee Yeon-woo | 2023-05-29 09:00
LG Electronics expands social contribution in Middle East, Africa
LG Electronics expands social contribution in Middle East, Africa
LG Electronics has expanded social contribution activities in the Middle East and Africa as it seeks business opportunities there, according to the company Sunday.
2023-05-28 12:23
Sales workforce at offline shops declines as online deals rise
Sales workforce at offline shops declines as online deals rise
The sales workforce at Korea's retail stores continued to decline in the past four years on increased online transactions amid the COVID-19 pandemic, government data showed Sunday.
2023-05-28 11:26
ChatGPT: boon or bane for banking industry?
ChatGPT: boon or bane for banking industry?
The financial sector in Korea is upbeat about adopting ChatGPT, an up-to-date artificial intelligence (AI) chatbot programmed for human-like conversation, as part of the industry's move to accelerate digitalization. A string of executives and researchers at the banks have listed possible services that can be made more efficient, convenient and secure using ChatGPT since it wa...
Yi Whan-woo | 2023-05-28 09:01
China, Korea agree to strengthen talks on chip industry: Chinese commerce ministry
China, Korea agree to strengthen talks on chip industry: Chinese commerce ministry
China and Korea have agreed to strengthen dialogue and cooperation on semiconductor industry supply chains, amid broader global concerns over chip supplies, sanctions and national security, according to China's commerce minister.
2023-05-27 20:48
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Top 10 Stories
1Korea eyes launch of 4th Nuri space rocket in 2025 Korea eyes launch of 4th Nuri space rocket in 2025
2Memorial Day 2023 Memorial Day 2023
3Korea's household debt-to-GDP ratio highest among 34 major economies Korea's household debt-to-GDP ratio highest among 34 major economies
4Japanese destroyer flies controversial flag as it arrives in Korea for joint drill Japanese destroyer flies controversial flag as it arrives in Korea for joint drill
5Seoul on alert over Pyongyang's imminent spy satellite launch Seoul on alert over Pyongyang's imminent spy satellite launch
6Vietnam emerges as major market for Korean chipmakers Vietnam emerges as major market for Korean chipmakers
7[ANALYSIS] China's ban on Micron tests Washington-Seoul alliance ANALYSISChina's ban on Micron tests Washington-Seoul alliance
8Korea's diplomacy put to test amid signs of thaw in US-China relations Korea's diplomacy put to test amid signs of thaw in US-China relations
9Top 20% of income earners fuel increase in Q1 consumption as pandemic ends Top 20% of income earners fuel increase in Q1 consumption as pandemic ends
10Local governments appeal to young generations through YouTube Local governments appeal to young generations through YouTube
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