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S. Korea’s coincident index plummets to lowest in 21 yearsEconomyJun 30, 2020South Korea’s coincident index -- that summarizes current economic conditions -- plunged to the lowest level in 21 years in May amid the COVID-19 pandemic, data from Statistics Korea showed Tuesday. ... -
FSS finds no proof on alleged hacking attempts of Toss: sourcesMarketsJun 30, 2020South Korea’s financial authorities have tentatively concluded that unauthorized payments made on fintech platform Toss were not caused by any security breach, according to sources Tuesday. The Fina... -
FSC urges lenders to build capital buffer for prolonged pandemicMoneyJun 30, 2020South Korea’s top financial regulator Tuesday called on local lenders to build up their capital conservation buffer to absorb losses in preparation for the prolonged COVID-19 crisis. “(The FSC) urge... -
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[Best Brand] Mirae Asset expands global market entry, backed by strong ETFsMarketsJun 30, 2020ASSET MANAGEMENT MIRAE ASSET GLOBAL INVESTMENTS Under its goal of becoming a global financial company, Mirae Asset Global Investments has been expanding its presence overseas by operating over 1,70... -
Banks' lending rates up in MayEconomyJun 30, 2020Lending rates on fresh bank loans rose slightly from a month earlier in May amid a sharp increase in corporate lending, while interest rates paid by banks on fresh deposits fell sharply on increased ... -
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[Best Brand] Shinhan Card launches credit card tailored for contactless servicesMarketsJun 30, 2020CREDIT CARD SHINHAN CARD From food ordering apps to streaming platforms, non-face-to-face services have become a new norm in the coronavirus era. Joining the contactless trend, Shinhan Card, a lead... -
Finance minister urges National Assembly to swiftly approve 3rd extra budgetEconomyJun 30, 2020SEJONG -- Finance Minister Hong Nam-ki n Tuesday called for the National Assembly to swiftly approve a third extra budget to revive the virus-hit economy, saying the budget would benefit more than 6.... -
S. Korea, Russia hold 5th round of FTA talks on service, investmentEconomyJun 30, 2020South Korea and Russia started another round of negotiations Tuesday to clinch a free trade agreement (FTA) in the service and investment sectors. During the videoconferences that run through Monday... -
Seoul stocks open higher on Wall Street gainsMarketsJun 30, 2020South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street led by estimate-beating housing data. The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.64 points, or... -
S. Korea's industrial output suffers extended slump in May amid virus pandemicEconomyJun 30, 2020SEJONG -- South Korea's industrial output extended its slump in May as the coronavirus pandemic disrupted supply chains, but retail sales reported a robust gain, data showed Tuesday. The nation's ov... -
NH Bank hires ex-Samsung exec as new chief digital officerMoneyJun 29, 2020NH NongHyup Bank said Monday that it will hire Lee Sang-rae, a former executive of Samsung SDS as its chief digital officer, a position that has been vacant for nearly six months. Lee, 56, is the fir... -
Changes in economic structures may dent growth in post-virus era: BOKEconomyJun 29, 2020South Korea is expected to see an accelerated slowdown of its potential economic growth rate, with domestic and global economic structures facing radical transformation in the post-coronavirus era, t... -
Banking, ICT giants need to open data access: FSCMarketsJun 29, 2020South Korea’s financial regulator Monday urged financial institutions and tech companies to widen access to client information to foster personal credit information management services here, dubbed M... -
Seoul stocks shed nearly 2% amid renewed virus fearsMarketsJun 29, 2020South Korean stocks dipped about 2 percent Monday, amid renewed fears over the coronavirus outbreak promoted by a resurgence in new confirmed cases over the weekend. The Korean won continued to rise ... -
NPS joins hands with Allianz to eye $2.3b overseas propertiesMoneyJun 29, 2020South Korea’s largest institutional investor National Pension Service said Monday it has inked a partnership with Germany-based Allianz to co-invest in core real estate assets worth $2.3 billion acro...
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