Korea’s economic growth last year was the lowest since the 1998 Asian economic crisis, according to data from the Bank of Korea Thursday.
Kwon Kwang-seok, CEO of Woori Bank, will likely extend his term as Woori banks CEO, as the nomination committee announced Thursday that it has selected Kwon as the final candidate for the position.
Businesses borrowed a record amount to survive the coronavirus pandemic last year.
According to KB Kookmin Bank on Tuesday in its monthly housing market report, the average price of residential units including apartments in Seoul exceeded 800 million won ($711,420) for the first time.
Woori Bank said Tuesday that it has let go of all employees that were hired unfairly.
Korea and Switzerland agreed to extend their currency swap agreement for five years.
The Bank of Korea on Thursday projected a 3 percent economic growth rate for 2021, maintaining its estimate from November last year, as it held rates steady and dismissed inflation as a concern.
Korea's central bank maintained the benchmark interest rate at 0.5 percent Thursday.
Naver Financial joined forces with Woori Bank to offer a loan service to small businesses that sell products online.
Woori Bank and the Industrial Bank of Korea (IBK) have been ordered to make restitution for up to 78 percent of some investments made in Lime Asset Management funds.