SEOUL, March 11 (Korea Bizwire) — South Korea’s leading petrochemical companies are bracing for potential credit rating downgrades in the first half of 2025 as financial indicators continue to deteriorate due to a prolonged industry slump. The growing concerns come in the wake of Homeplus’ restructuring following a credit rating downgrade, raising alarms over broader [...]
LAGOS, Nigeria, April 26 (Korea Bizwire) — Creating solutions tailored to African problems is crucial in addressing the financial wellness of the continent. The peculiarity of the life patterns of the average African begs one to intentionally design and build mechanisms, to tackle financial illiteracy in the underserved communities. Aella has seized the opportunity to [...]
SEOUL, March 24 (Korea Bizwire) — Major business groups in South Korea greatly expanded their bank loans this month, data showed Tuesday, amid a potential credit crunch caused by the new coronavirus outbreak that apparently limited their direct financing. As of March 20, outstanding loans extended by five major banks to large companies came to [...]
SEOUL, May 13 (Korea Bizwire) – More than one hundred days have passed since the Korean government established new guidelines for credit checks, leading to more rigorous income evaluations for loan applicants. The policy is part of efforts to ease the national economic debt burden, which now stands at over 1.2 quadrillion won in household [...]
SEOUL, May 10 (Korea Bizwire) – The soundness of Korean banks is significantly lower than those of the US, Canada and North Europe. Risk management failures are contributing to increasing rates of weak credit, and Return on Equity (ROE) is lower than ever. According to KB Financial Group (KBFG), the distressed-debt ratios of banks in [...]