Finance

Finance

#Fitch
Fitch cuts 2021 growth outlook for S. Korea to 4 pct
SEOUL, Sept. 17 (Yonhap) -- Global credit appraiser Fitch Ratings said Friday it has cut its 2021 growth outlook for the South Korean economy to 4 percent due mainly to the latest surge in COVID-19... 14:52 Sep. 17
#bank union
Bank union set to hold strike in Oct. over wage hike
SEOUL, Sept. 17 (Yonhap) -- A labor union of South Korean bank workers said Friday it will stage a strike in mid-October over failed wage negotiations with the management. The Korean Financial I... 13:32 Sep. 17
#compensation
Compensation to pandemic-hit merchants to begin in late Oct.: official
SEOUL, Sept. 17 (Yonhap) -- South Korea plans to start to compensate pandemic-hit small merchants from late October for their losses incurred by anti-virus restrictions, a senior government officia... 10:38 Sep. 17
#EDCF
S. Korea to provide US$250 mln in loans for Egypt's railway project
SEOUL, Sept. 17 (Yonhap) -- South Korea said Friday it plans to provide US$250 million in loans to Egypt for a state railway modernization project in a bid to promote economic cooperation with Cair... 10:11 Sep. 17
#overseas investment
Q2 overseas direct investment rises at fastest pace in 9 quarters
SEOUL, Sept. 17 (Yonhap) -- South Korea's overseas direct investment grew at the fastest pace in nine quarters in the second quarter of this year amid the global economic recovery, data showed Frid... 09:00 Sep. 17
#SMEs
State funds to rollover debts owed by pandemic-hit merchants, small firms
SEOUL, Sept. 16 (Yonhap) -- Finance Minister Hong Nam-ki said Thursday that state-backed funds will extend loan maturity and rollover interest payments again for smaller firms and merchants hit har... 09:03 Sep. 16
Big firms' debt-service ability improves amid pandemic
SEOUL, Sept. 15 (Yonhap) -- Large South Korean companies' ability to service their debts improved sharply in the first half of the year amid the coronavirus pandemic, a corporate tracker said Wedne... 09:00 Sep. 15
#internet banks
S. Korean internet banks vying to lure more deposits
SEOUL, Sept. 15 (Yonhap) -- South Korean internet-only banks are ramping up efforts to attract more deposits in the wake of a newcomer's entry into the fast-growing sector, industry sources said We... 08:41 Sep. 15
#rate-setting meeting
BOK board members says rate hike warranted in light of financial imbalances: minutes
SEOUL, Sept. 14 (Yonhap) -- Members of the central bank's rate-setting board said growing risks from financial imbalances pointed to a need to conduct a rate hike without delay, minutes from the lat... 17:03 Sep. 14
#credit card firms
Card firms H1 net rises 33.7 pct on higher commission income
SEOUL, Sept. 14 (Yonhap) -- South Korea's credit card firms saw their combined earnings rise 33.7 percent on-year in the first half of the year due largely to an increase in commission income, the ... 13:40 Sep. 14
#FX deposit
Residents' FX deposits rise in Aug. amid brisk exports
SEOUL, Sept. 14 (Yonhap) -- Foreign currency deposits at banks in South Korea gained in August from a month earlier as exporters increased dollar holdings, central bank data showed Tuesday. Resi... 12:00 Sep. 14
#money supply
Money supply keeps growing in July
SEOUL, Sept. 14 (Yonhap) -- South Korea's money supply continued to expand in July on increased corporate fund-raising and household loans amid the COVID-19 pandemic, central bank data showed Tuesd... 12:00 Sep. 14
#KDB
KDB chief calls for speedy approval for integration of Korean Air, Asiana
SEOUL, Sept. 13 (Yonhap) -- Korean Air Lines Co.'s acquisition of Asiana Airlines Inc. is inevitable to keep the Korean aviation industry afloat in the pandemic era and promptly needs final approva... 18:34 Sep. 13
#housing market
(LEAD) Finance chief calls for beefed-up monitoring of housing markets
(ATTN: UPDATES with more details in last 3 paras) SEOUL, Sept. 13 (Yonhap) -- Finance Minister Hong Nam-ki on Monday raised the need to strengthen the monitoring of the property market as the lates... 17:00 Sep. 13
#housing market
Finance chief calls for beefed-up monitoring of housing markets
SEOUL, Sept. 13 (Yonhap) -- Finance Minister Hong Nam-ki on Monday raised the need to strengthen the monitoring of the property market as the latest rate hike and the talks of U.S. tapering could i... 15:14 Sep. 13
#Kakaopay
Kakaopay to suspend car insurance comparison service
SEOUL, Sept. 10 (Yonhap) -- Kakaopay Corp., a financial unit of tech giant Kakao Corp., will suspend its car insurance comparison service later this month after providing an unauthorized brokerage ... 21:19 Sep. 10
#Woori Financial
Gov't to sell up to 10 pct of its stake in Woori Financial this year
SEOUL, Sept. 9 (Yonhap) -- The government said Thursday it will sell up to 10 percent of its stake in Woori Financial Holdings Co. this year as part of its plan to put the company in private hands.... 13:27 Sep. 09
#bond sale
Bond issuance in S. Korea inches down in Aug.
SEOUL, Sept. 9 (Yonhap) -- Bond issuance in South Korea inched down in August from the previous month due to decreased corporate debt sales, data showed Thursday. The value of bonds sold in Asia... 11:07 Sep. 09
#card spending
Daily card spending up 8.4 pct in H1 amid pandemic
SEOUL, Sept. 8 (Yonhap) -- Daily card spending in South Korea rose 8.4 percent in the first half from a year earlier, supported by increased online purchases amid the pandemic, central bank data sh... 13:47 Sep. 08
#savings banks
Savings banks see H1 net jump 67 pct on interest income
SEOUL, Sept. 8 (Yonhap) -- South Korean savings banks saw their combined net profit jump 67 percent in the first half from a year earlier thanks to a rise in interest income, data showed Wednesday.... 12:00 Sep. 08