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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Economy

Thu, March 23, 2023 | 11:32

Preference for sons over daughters no longer case in Korea

Preference for sons over daughters no longer case in Korea

The centuries-old preference for sons over daughters has been diminishing in Korea amid growing awareness of gender equality as well as the rapid population decline witnessed in recent years. The latest data on the sex ratio at births shows such preferences are apparently no longer the case here. Released by Statistics Korea, Wednesday, the data showed that 104.7 baby boys we...

2023-03-01 16:58

Plunging exports add to concerns over possible economic contraction in Q1

Plunging exports add to concerns over possible economic contraction in Q1

Korea's exports declined for the fifth straight month in February, raising concerns that the nation's economy may contract again in the first quarter of this year after shrinking in the final three months of 2022. The data released by the Ministry of Trade, Industry and Energy, Wednesday, showed outbound shipments slid 7.5 percent $50.1 billion last month from a year earlier.

2023-03-01 16:58

Financial authorities increase pressure on banks

Financial authorities increase pressure on banks

The Financial Supervisory Service (FSS) will be conducting a regulator inspection into Shinhan Financial Group and Shinhan Bank later this month, the watchdog agency said Wednesday. It will be the first of its kind conducted on Shinhan in four years. The FSS' regular inspection takes place every two to five years, during which the financial watchdog thoroughly examines a fina...

Anna J. Park | 2023-03-01 16:23

Korea seeks to overhaul banks' corporate governance

Exports down for 5th month in Feb. on falling chip demand

Exports down for 5th month in Feb. on falling chip demand

Korea's exports fell for the fifth consecutive month in February due mainly to weak global demand for semiconductors amid an economic slowdown, the industry ministry said Wednesday.

2023-03-01 09:43

Korea seeks to overhaul banks' corporate governance

Korea seeks to overhaul banks' corporate governance

One of the key areas that Korean banks are lagging behind global financial firms is corporate governance. Along with the country's complex regulations, a less-than-effective system of checks and balances has been cited as a key factor resulting in the undervaluation of stocks issued by Korean financial institutions compared to their earnings performances.

Anna J. Park | 2023-03-01 09:30

Financial authorities increase pressure on banks

Richest 10 percent hold 43 percent of assets in Korea

Richest 10 percent hold 43 percent of assets in Korea

In one episode of the popular reality TV show “I Live Alone,” actor Kim Kwang-kyu sighs in front of an apartment building in southern Seoul's affluent Gangnam District. He just searched for the market price of his old apartment, where he had lived for six years before moving out. “I was asked to buy this home for 1 billion won ($750,000).”

2023-03-01 08:28

Korea pins high hopes on China's reopening

Korea pins high hopes on China's reopening

China's reopening is fueling optimism in Seoul that sluggish Korean exports will bounce back and possibly offer a breakthrough for the country's trade-reliant economy that is struggling with slowed growth. During a Cabinet meeting in Seoul, Tuesday, Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho urged all related ministries to “pay special attention t...

2023-02-28 16:30

Trade terms worsen for 22nd straight month in Jan.

Trade terms worsen for 22nd straight month in Jan.

Korea's terms of trade worsened for the 22nd straight month in January from a year earlier as export prices fell at a faster pace than import prices, central bank data showed Tuesday.

2023-02-28 15:45

Banks' FX liquidity conditions 'sound' despite uncertainties: finance ministry

Banks' FX liquidity conditions 'sound' despite uncertainties: finance ministry

Korean banks are maintaining sound foreign exchange liquidity conditions, the finance ministry said Tuesday, despite the growing uncertainties in the global foreign exchange market.

2023-02-28 15:23

Finance minister urges passage of bill on tax incentives for chipmakers

Finance minister urges passage of bill on tax incentives for chipmakers

Korea's chief economic policymaker called Tuesday for parliament to promptly pass a bill on providing more tax incentives to chipmakers amid the prolonged downturn in exports.

2023-02-28 11:02

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Top 10 Stories

1	Korean firms balk at donating to fund compensating victims of Japan's forced labor

2	Sexual assaults by Korean diplomats continue despite zero-tolerance policy

3	Consumers choose to travel abroad over purchasing luxury goods

4	Main opposition leader indicted, faces calls to resign

5	World water day

6	Outback Steakhouse sees sales soar as it opens stores in large shopping malls

7	Samsung, SK avoid worst-case scenario as US 'guardrails' are less stringent than feared

8	Korean pension fund hit by overseas banking crisis

9	INTERVIEWRetired FSC chief finds inspiration exploring Koreans' ancestral roots

10	Campaign launched to promote equal treatment for multicultural families

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