A former Goldman Sachs banker was sentenced Thursday to two years in federal prison for his role in a $4.5 billion scheme to ransack a Malaysian state investment fund.
While not yet downgrading next year's growth forecast for Korea, global investment banks are issuing warnings that the ongoing political instability poses a threat to the stock market and economic recovery.
Ryan O'Connor will bring over 17 years of experience as Mirae shakes up its corporate organization.
Foreign exchange rates are displayed at an exchange booth in Myeong-dong, central Seoul, on Tuesday. Goldman Sachs said in a report that the value of the yen may fall to 155 yen against the dollar to hit the lowest level since June 1990.
Global investment banks estimate Korea’s economic growth will average 1.9 percent next year, down from the 2 percent projected in June, according to the Korea Center for International Finance on Monday.
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