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Economy

Mon, September 25, 2023 | 01:32

Financial irregularities put brakes on plan to boost number of nationwide banks

Financial irregularities put brakes on plan to boost number of nationwide banks

The government's plan to increase the number of commercial banks operating nationwide faces a setback amid a slew of financial irregularities in the banking industry. According to media reports, the Financial Supervisory Service (FSS) extended its inspection of DGB Daegu Bank, which was scheduled to end on Sept. 1.

2023-09-07 16:10

Korea's exports decline easing amid lingering uncertainties: KDI

Korea's exports decline easing amid lingering uncertainties: KDI

Korea's exports are showing signs of improvement, but uncertainties from China continue to weigh on the economy, a state-run think tank said Thursday.

2023-09-07 14:09

Corporate loan growth accelerates in Q2

Corporate loan growth accelerates in Q2

Corporate loan growth in Korea picked up in the second quarter from three months earlier, central bank data showed Thursday, mainly due to a gain in loans for the service sector.

2023-09-07 14:09

BOK chief to attend BIS meetings in Switzerland

BOK chief to attend BIS meetings in Switzerland

Korea's top central banker will attend meetings of the Bank for International Settlements (BIS) to be held in Switzerland early next week, his office said Thursday.

2023-09-07 13:57

Korea and Indonesia to deepen financial cooperation in fintech, digitalization

Korea and Indonesia to deepen financial cooperation in fintech, digitalization

Financial Services Commission (FSC) Vice Chairman Kim So-young vowed to actively support mutually beneficial business activities by private financial companies in Korea and Indonesia to deepen bilateral cooperation.

Anna J. Park | 2023-09-06 16:45

Koreans increasingly embrace cashless society

Koreans increasingly embrace cashless society

Following the transition to a cashless society, an increasing number of Koreans are no longer using wallets because their smartphones are proving to be more convenient. According to data released by the Bank of Korea (BOK), Tuesday, consumers are increasingly using digital wallets to buy goods, with the average daily number of payments ticking up 13.4 percent from a year earl...

2023-09-06 16:33

Korea's inflation set to moderate toward 2% by end-2024: IMF team

Korea's inflation set to moderate toward 2% by end-2024: IMF team

An International Monetary Fund (IMF) team said Wednesday that Korea's inflation is likely to "moderate" down the road to reach the government's target of 2 percent by the end of 2024.

2023-09-06 15:56

8 in 10 foreign residents satisfied with life in Korea: survey

8 in 10 foreign residents satisfied with life in Korea: survey

Around eight in 10 foreigners in Korea say they are satisfied with life here, data showed on Wednesday. In its 2022 survey aimed at analyzing the quality of life in Korea, Statistics Korea said 40.8 percent of the respondents said they were “extremely satisfied” with life in Korea while another 39.6 percent responded they were “a little satisfied.”

2023-09-06 14:32

Korean shipyards rank 2nd in new global orders in August

Korean shipyards rank 2nd in new global orders in August

Korean shipbuilders lagged far behind their Chinese rivals in new global orders to place second worldwide in August amid sinking demand, industry data showed Wednesday.

2023-09-06 11:09

S. Korea's monetary, budget tightening policies 'right': IMF

S. Korea's monetary, budget tightening policies 'right': IMF

The International Monetary Fund (IMF) has said South Korea's latest restrictive monetary and budget policies are headed in the right direction and anticipated the economy will speed up recovery in the second half, Seoul's finance ministry said Tuesday.

2023-09-05 21:20

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