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Reporter : Anna J. Park
Sun, July 3, 2022 | 17:41
Falling copper prices increase concerns over recession
Concerns over a global recession are growing as the international copper price logged a steep fall of 12.8 percent in June. The price of copper on the London Metal Exchange (LME) ended at $8,240 per metric ton on the last day of June, down 12.8 percent from $9,450 earlier in the month. The price of the metal is at its lowest level since February 2021, renewing a 17-month low.
Korea loses money in trade with China
Korea suffered a deficit in trade with China in June, remaining in the red for the second straight month. The lackluster performance reversed Korea's trade surplus with China that lasted for nearly three decades. According to the trade ministry earlier this month, the nation's trade balance with China registered a monthly deficit of $1.21 billion in June, following the previo...
Lotte Card joins UN Global Compact
Lotte Card has joined the United Nations Global Compact (UNGC) in an effort to strengthen its environmental, social and corporate governance (ESG)-based management activities. According to the firm, Thursday, the card company joined the U.N.-backed voluntary governance framework, which is based on CEO commitments to implement universal sustainability principles and take steps...
NongHyup Financial strengthens ESG vision
NongHyup Financial Group Chairman Son Hyun-hwan stressed the importance of the environmental element out of the so-called environmental, social and corporate governance (ESG) management principles, urging group subsidiaries to better cope with the challenges caused by climate change. NongHyup Financial announced Thursday that it held its Social Value and Green Finance Committ...
Hole-in-one golf insurance policy exploited by fraudsters
Various golf-related insurance policies are thriving, as the number of frequent golfers has increased over the pandemic period in the country. While the specifics of the various insurance coverage differ according to each product, most local golf insurance policies cover injuries, damages or vehicle accidents at golf courses, as well as hole-in-one related incentive payments ...
KB Kookmin Bank to co-lead JFK airport project financing
KB Kookmin Bank announced Wednesday that it will jointly lead a financing project for constructing the New Terminal One (NTO) at John F. Kennedy International Airport. The Seoul-based lender said it will be leading the project financing deal along with other global partners, including Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC) and ING Ba...
[INTERVIEW] 'Asia-Pacific region has potential to lead global decarbonization sector'
One of the most noticeable changes in the global business scene in recent years is that the so-called environmental, social and corporate governance (ESG) principles have evolved from a rhetoric put forth by mostly non-profit organizations into a core business strategic consideration by competitive companies around the world.
Toss Bank draws over 3.6 million customers
Since Toss Bank was launched last October as the country's third internet-only bank, it has succeeded in attracting 3.6 million customers in just nine months. More than 2.5 million customers have been added this year alone, and the number of customers has tripled during the past six months.
KB Kookmin Bank mulls further capital increase for Indonesian subsidiary
KB Kookmin Bank might need to inject additional capital into its Indonesian subsidiary, Bank KB Bukopin, as the Southeast Asian country's financial authority urged Seoul's Financial Supervisory Service (FSS) to cooperate on reducing Bank KB Bukopin's debts. According to the financial industry, Tuesday, the Indonesian financial authority has stressed the need to get rid of the...
Hana Financial Investment to change name to Hana Securities
Hana Financial Investment will change its company name to Hana Securities on July 1. The brokerage firm changed to its current name from Hana Daetoo Securities in 2015. While including “financial” and “investment” in the name was a trend among securities companies for quite some time during an expansion period of investment banking operations, securities companies now appear ...
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