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Reporter : Lee Min-hyung
Thu, February 2, 2023 | 06:35
Income gap widening among workers
Salaried workers' income gap has widened for the past couple of years after the economy was hit by the outbreak of the COVID-19 pandemic, data showed Wednesday. The National Tax Service (NTS) data submitted to the office of Rep. Jin Sun-mee of the main opposition Democratic Party of Korea showed that salaried employees in the top 20 percent bracket earned 15.1 times more than...
Chip, robot ETFs most profitable in January
Exchange-traded funds (ETFs) on chips and robots turned out to have generated the largest returns in January in hopes of a gradual recovery in the global semiconductor market. According to data from the Korea Exchange, TIGER U.S. Philadelphia Semiconductor Leverage ETF topped the list of most profitable ETFs listed here. The ETF generated returns of 30.03 percent between Jan....
Korea Exchange to toughen rules against unfair traders
The Korea Exchange has pledged to root out any illegal and unfair trading practices by blocking violators' access to the local financial investment market for up to a decade, Sohn Byung-doo, head of the exchange, said Tuesday. “We will thoroughly eradicate unfair trading practices by toughening rules against those caught for doing such acts,” Sohn told reporters during a pres...
Stock-leveraged investments rise again amid bullish KOSPI
Leveraged investments in the local stock market are on the rise again in tandem with the recent bullish market sentiment here, data showed Monday. According to data from the Korea Financial Investment Association, the outstanding credit transaction loan amount in the benchmark KOSPI and secondary Kosdaq reached 16.11 trillion won ($13 billion) as of Jan. 26. This is a slight ...
Bank labor union to sue management over normalized operating hours
A financial union has warned it will take legal action against banks' decision to normalize their operating hours on Monday, the first day of the lifting of most indoor mask rules here. According to the Korea Financial Industry Union (KFIU), the banks' decision goes against an agreement between labor and management. The union said it will file a lawsuit against the banks soon.
Slowed Fed rate hike, China's reopening to boost KOSPI
The benchmark KOSPI will continue its momentum for a rally and attain the 2,500-point mark this week on additional foreign capital inflow, which is being driven by hopes of the U.S. Fed slowing down its rate hike pace during its upcoming rate-setting meeting, analysts said.
Hana unveils vision to become Asia's best financial group
Hana Financial Group Chairman Ham Young-joo has presented three major group-wide strategies: global expansion, digital innovation and financial competitiveness reinforcement, as part of its 2023 corporate vision to become Asia's leading financial group, the company said Sunday.
Securities firms face dismal earnings results for 2022
Korea's major securities firms are forecast to report weaker-than-expected earnings for 2022, as their brokerage commission revenues plunged in the wake of an unexpected stock market crash sparked by steep rate hikes and multiple external risk factors such as the outbreak of war in Ukraine, data showed Friday. Mirae Asset Securities, the nation's largest brokerage house by ma...
Woori shortlists four candidates for next chairman
Woori Financial Group confirmed the shortlist for its next chairman, Friday, with four contenders vying for the leadership of the financial holding firm. The four candidates included Woori Bank CEO Lee Won-duk, Woori America Bank CEO Shin Hyun-seok, former Woori FIS CEO Lee Dong-yeon and former Financial Services Commission (FSC) Chairman Lim Jong-ryong.
Korean firms' weak earnings outlook to burden KOSPI
The Korean stock market is feared to face an adjustment period on escalating fears of recession and conglomerates' dismal earnings outlooks. The negative outlook came amid growing skepticism over major firms' earnings growth on falling demand for Korea's major export items.
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