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The Korea Times

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Asia

The Korea Times

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Economy

Thu, March 30, 2023 | 11:23

Calls rise for bolstered deposit insurance coverage following SVB disaster

Calls rise for bolstered deposit insurance coverage following SVB disaster

The sudden collapse of U.S.-based Silicon Valley Bank (SVB) earlier this month has sent jitters across the Korean banking industry, resulting in increased calls to bolster the country's state-led deposit insurance coverage policy.

Anna J. Park | 2023-03-14 16:07

Fitch keeps Korea's credit rating unchanged at 'AA-,' outlook stable

Fitch keeps Korea's credit rating unchanged at 'AA-,' outlook stable

Global credit appraiser Fitch Ratings said Monday it has reaffirmed Korea's sovereign rating at "AA-" with a stable outlook, while suggesting an economic growth of 1.2 percent this year.

2023-03-13 18:23

Financial markets show resilience to SVB collapse

Financial markets show resilience to SVB collapse

Financial markets in Korea remained resilient, Monday, in the face of the sudden bankruptcy of Silicon Valley Bank (SVB) that prompted concerns of an exodus of foreign capital in search of safer assets and a surge in market volatility. The benchmark KOSPI advanced 16.01 points, or 0.67 percent, to close at 2,410.60, following a three-day losing streak until Friday when SVB be...

Yi Whan-woo | 2023-03-13 16:57

Biden tells US to have confidence in banks after collapse

SVB collapse adds to woes of NPS' record investment loss

Large exposure limits for banks to be extended again amid SVB fallout

Large exposure limits for banks to be extended again amid SVB fallout

Large exposure limits for banks to be extended again amid SVB fallout

The financial authorities will extend the large exposure (LEX) limits for banks again this year because of expanding market volatility caused by the collapse of Silicon Valley Bank (SVB) following a liquidity crunch.

Lee Yeon-woo | 2023-03-13 16:00

Biden tells US to have confidence in banks after collapse

Financial markets show resilience to SVB collapse

G20 Sherpa ambassador highlights importance of understanding statistics

G20 Sherpa ambassador highlights importance of understanding statistics

Ambassador for International Cooperation on G20 Affairs Song In-chang, who is also an elite public official with expertise in economics and international finance, strongly advises the public to become savvy with statistics. His interest in statistics grew after realizing that a solid understanding of statistics is a precursor to drawing up beneficial policies, which in turn c...

Anna J. Park | 2023-03-13 09:00

SVB's collapse feared to trigger capital flight out of Korea

SVB's collapse feared to trigger capital flight out of Korea

The sudden bankruptcy of Silicon Valley Bank (SVB), Friday, is sparking concerns in Korea of weakened investor confidence that could force foreign investors to scramble for safer assets and lead to a capital exodus from the Korean market. Financial authorities said, Sunday, they are closely monitoring the effects of the U.S. lender's debacle, which could significantly increas...

Yi Whan-woo | 2023-03-12 16:59

US stems SVB fallout by backing customer deposits

Korea posts record current account deficit in Jan. as exports slump amid recession woes

Korea posts record current account deficit in Jan. as exports slump amid recession woes

Korea posted the largest ever current account deficit in January as exports sharply dwindled amid growing worries over a global economic recession, central bank data showed Friday.

2023-03-10 08:15

BOK to keep restrictive monetary policy 'for considerable period of time'

BOK to keep restrictive monetary policy 'for considerable period of time'

The Bank of Korea (BOK) said Thursday it will keep the current restrictive monetary policy stance "for a considerable period of time" and determine whether to push for additional rate hikes down the road with priority placed on price stability.

2023-03-09 13:41

Korean economy gradually feeling pinch of rate hikes: KDI

Korean economy gradually feeling pinch of rate hikes: KDI

Private spending and construction investment in Korea are gradually being affected by aggressive rate hikes amid high inflation, a state-run think tank said Wednesday.

2023-03-08 17:50

Korea-Saudi cooperation

Korea-Saudi cooperation

Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho, left, shakes hands with Saudi Minister of Finance Mohammed bin Abdullah Al-Jadaan ahead of their meeting at Government Complex Seoul, Wednesday. The two discussed cooperation in tackling global issues such as the low-carbon economy as well as Saudi's Vision 2030. Courtesy of Ministry of Economy and Finan...

2023-03-08 14:24

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