SEOUL, Nov. 9 (Korea Bizwire) – South Korea’s top financial regulator said Wednesday the related authorities will do their best for market stabilization with an “utmost sense of tension,” as Americans caught the world off guard by choosing Donald Trump as their next president. “Following the U.S. presidential elections, the expansion of swings at South [...]
SEOUL, Nov. 9 (Korea Bizwire) – Amid stagnant growth of local household consumption, a recent study indicated that the elderly will play an essential role in leading Korea’s future consumption. According to the report – Consumption Status of the Elderly and its Implications – compiled by the Bank of Korea’s research bureau, the contribution rate [...]
SEOUL, Nov. 3 (Korea Bizwire) — The National Pension Fund (NPF), South Korea’s largest institutional investor, is expected to inject some 1 trillion won (US$870.5 million) into the stock market this month, financial sources said Thursday, a welcome booster to the market in need of positive energy. According to the sources, the pension operator is [...]
SEOUL, Nov. 3 (Korea Bizwire) — Growing household debt and a looming U.S. rate hike are two major systemic risks facing South Korea’s financial system, a survey showed Thursday. The household debt issue topped the list of key systemic risks cited by market watchers at 70 percent, compared with 54 percent in April, according to [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s political uncertainties over an unfolding influence-peddling scandal could increase downside risks to the country’s economic growth, a report said Wednesday. Citigroup said the scandal involving President Park Geun-hye’s longtime confidante could shrink consumer sentiment, which in turn could further slow the economic growth rate in the fourth [...]
SEOUL, Nov. 2 (Korea Bizwire) – South Korea’s top financial regulator, nominated to lead the finance ministry, on Wednesday vowed to make all-out efforts to address the household debt problem. Yim Jong-yong, chairman of the Financial Services Commission (FSC), described it as a potential “core risk factor” especially as South Korea may have to raise [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s exports are expected to receive a much-needed boost next year from more imports by its major trading partners including China and the United States, the Bank of Korea (BOK) said Thursday. In a report on global trade, the central bank analyzed the estimated income and import growth [...]
SEOUL, Oct. 13 (Korea Bizwire) – South Korea’s financial watchdog said Thursday it will step up efforts to early detect possible risks in the local banking sector amid a full-fledged corporate restructuring drive at home and unrelenting uncertainties abroad. Speaking to lawmakers, Zhin Woong-seob, governor of the Financial Supervisory Service (FSC), reminded domestic banks of [...]
SEOUL, Oct. 12 (Korea Bizwire) – Household loans extended by local banks rose 11.8 percent in September from a year earlier due to an increase in collective loans, central bank data showed Wednesday. Outstanding household loans from local lenders came to 688.4 trillion won (US$613 billion) as of end-September, compared with 615.7 trillion won from [...]
SEJONG, Oct. 11 (Korea Bizwire) – The South Korean economy has been experiencing a bumpy recovery as a slowdown in production and exports dragged down an apparent upturn in domestic demand, a government report said Tuesday. “The economy has been on a flaccid recovery track as private consumption and investment have made a turnaround in [...]