Brokerage and insurer dollar deposits are being monitored with extra vigilance as the multi-trillion-dollar economic stimulus packages planned by the Joe Biden administration threaten to flood foreign exchange markets.
Korea will closely monitor a potential increase in volatility of the financial markets as the yield spread between short- and long-term state bonds is increasing, the vice finance minister said Tuesday.
Last year 218,000 fewer people were employed in Korea compared to 2019, the biggest decline in more than two decades since the IMF crisis of the late 1990s.
Risk management, innovative growth and adopting environmental, social and governance (ESG) initiatives were the key issues raised by financial institution heads in speeches to mark the start of the new year.
The government will bring onto the market 460,000 residences next year to stabilize real estate prices, Finance Minister Hong Nam-ki said Tuesday.Some 60 percent of the residences, or 278,000 units, will be in the greater Seoul area.
The pandemic has been terrible for the economy, but some industries have benefitted — and for unexpected reasons.
The Korean stock market extended its all-time high for a fifth consecutive session Monday, backed by chip and pharmaceutical gains amid the government's strengthened social distancing measures.
Korean depository institutions’ loans to self-employed people and companies grew at a much slower pace in the third quarter than three months earlier on improving business conditions, the central bank said Wednesday.
The financial sector posted one of the best performances this year, and banks have begun full-scale job cuts offering massive severance pay for voluntary retirement in an attempt to slim down its workforce.
With hopes for a vaccine giving the stock market a shot in the arm, a top government official offered a reality check, saying that benefits of the good news on the Covid front could take time to affect the real economy.