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Heavy rain-caused deaths stand at 14; number of missing revised down to 4
Suspended ruling party chief again cries foul over leadership switch
K-musicals have a myriad of challenges to benefit from explosive potential
[Travel Bits] Festivals, sights across Korea
20 years on, K-webtoons have become first movers
[Box Office] Movies in theaters this week
From ‘Shiri’ to ‘Parasite,’ Korean films came a long way
[Hwang’s China and the World] What makes China so committed to winning the international technical standards battle?
New COVID-19 cases down for 3rd day; deaths at over 3-month high
N. Korea moves toward pre-pandemic normalcy after declaring victory in COVID-19 fight
Giant whale installation to appear in Jeju fest
On presidential pardon, Lotte chief vows investment in biotech, hydrogen
President Yoon, UN chief discuss N. Korea, voice concern over growing nuclear threat
COVID-19 reinfections rising in South Korea
For Seoul‘s first Formula E, DHL Korea delivers 415 tons of cargo
[Today’s K-pop] Astro’s Cha Eunwoo to host 1st solo fan meet event in Seoul
Yi Yuksa’s handwritten letters to be listed as cultural heritage
Korea raises alarm for supply shortage in farm products
Jecheon International Music & Film Festival returns in full force with in-person events
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Money
Money supply up for 3rd month in June on increased deposits
Aug 11, 2022
South Korea's money supply grew for the third straight month in June on increased deposits amid rising interest rates, central bank data showed Thursday. The country's M2, a key gauge of the money supply, stood at 3,709.3 trillion won ($2.85 trillion) on average in June, up 12 trillion won, or 0.3 percent, from the previous month, according to the preliminary data from the Bank of Korea (BOK). The money supply rose for the third straight month in June after posting the first contractio
KB Financial Group wins Red Dot Award
Aug 8, 2022
KB Financial Group said Monday that its wine collection using its character design won the Red Dot Award for Brands and Communication Design. The character design, which the firm created to boost its image as a friendly bank open to ordinary Koreans, is aimed at raising domestic wine sales amid the pandemic when small business owners face greater economic challenges, the firm added. “We are grateful for the award because we feel acknowledged for our efforts to help those most in need,&r
Top Korean banks face flak for profiting from surging rates
Aug 3, 2022
Customer requests to reevaluate credit scores rise, but acceptance rates fall
Foreign reserves grow for 1st time in 5 months in July
Aug 3, 2022
South Korea's foreign reserves increased for the first time in five months in July, thanks to increased operation profits and expanded deposits in foreign currency, central bank data showed Wednesday. The country's foreign reserves came to $438.61 billion as of end-July, up $330 million from the previous month, according to the data provided by the Bank of Korea (BOK). Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund re
Move over stockbrokers: ‘Ant’ investors new stars of TV shows
Aug 2, 2022
Beneath the fun facade, new content depicts underlying fears and horrors of individual investors
Coins ‘luna, terraUSD had obvious design flaws’: crypto pioneer
Jul 27, 2022
Ethereum founding member says crypto winter likely to continue; warns of market hype, system that still lacks regulatory oversight
Assets of 8 key financial groups nearly double over decade
Jul 27, 2022
Major financial groups in South Korea have seen their assets almost double over the past decade on the back of their push for business expansion, data showed Wednesday. The country's eight financial groups had 3,221.7 trillion won ($2.46 trillion) as of the end of 2021, up 95 percent from 2012, according to the data from corporate tracker CEO Score. The eight financial groups are KB, Shinhan, Hana, Woori, NH Nonghyup, Mirae Asset, Meritz and Korea Investment Holdings. In particular, their o
JB Financial renames venture investing biz as JB Investment
Jul 21, 2022
JB Financial Group, a Jeonju-based financial holding company, said Thursday it has renamed its subsidiary Mega Investment to JB Investment. The finance company inked a deal to take over Mega Investment from South Korean online educational service provider MegaStudy in May for 48 billion won ($36.5 million). The deal was signed as part of the regional bank’s efforts in diversifying its business portfolio, said JB Financial Group. The newly named JB Investment is a venture investment firm
Prosecutors raid cryptocurrency exchanges in probe into Terraform crash
Jul 20, 2022
Prosecutors raided local cryptocurrency exchanges on Wednesday as part of an investigation into a fraud case in connection with the collapse of Terraform Labs’ digital coins, TerraUSD and Luna, officials said. A team of investigators from the Seoul Southern District Prosecutors Office began seizing transaction records and other material from Upbit and other local exchanges around 5 p.m., they said. Investors in TerraUSD and Luna filed complaints against Terraform Labs’ CEO Do Kwon
‘Myeongdong to recover from pandemic woes’
Jul 17, 2022
Real estate firm Colliers Seoul head paints brighter future for pandemic-hit shopping mecca, citing expected return of Chinese tourists
[Newsmaker] Internet-only banks lure customers with Tamagotchi-like savings accounts, digital piggy banks
Jul 1, 2022
South Korea’s three internet-only banks so far amassed 30 million combined users
Top court clears Shinhan chief of unethical hiring claims
Jun 30, 2022
South Korea’s top court on Thursday cleared Shinhan Financial Group Chairman Cho Yong-byoung of unethical hiring charges, putting an end to a four-year legal battle and allowing a possible third term for Cho. The Supreme Court upheld the Seoul High Court’s decision in November last year to side with Cho on allegations that he had exercised his influence by accepting hiring requests from lawmakers and company executives to recruit their children from 2013 to 2016 while he was CEO of
KB Kookmin provides $300m for JFK Airport redevelopment
Jun 29, 2022
KB Kookmin Bank, South Korea’s top lender said Wednesday that it will join other financial institutions in a $6.6 billion syndicated loan package to finance the John F. Kennedy International Airport’s Terminal One redevelopment project in New York. KB Kookmin will contribute $300 million of the $6.6 billion loan, alongside Japan’s Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp. and Dutch financial giant ING Bank. KB said the airport renovation financing project
BOK likely to weigh more on 'big-step' rate hike should June inflation hit 6 pct: official
Jun 29, 2022
Demand for an unprecedented "big-step" rate hike among policymakers of the Bank of Korea (BOK) will likely intensify ahead of an upcoming rate-setting meeting should the country's consumer prices in June rise 6 percent or higher, a high-ranking central bank official has said. The outlook comes amid growing speculation the BOK could lean more toward the possibility of an unprecedented 0.5 percentage-point hike in borrowing costs when monetary policy board members gather on July 13 in th
[Photo News] World Cup Coins
Jun 27, 2022
The official commemorative coins issued by the Qatar Central Bank to celebrate the 2022 Qatar World Cup were showcased in Seoul on the sidelines of a ceremony held to launch limited edition medals to commemorate the Korea-Japan World Cup held 20 years ago. A set of 24 gold and silver legal tender coins were released by the Middle Eastern country last month as part of FIFA‘s Official Host Country Coin Program, in collaboration with MDM Deutsche Muenzhandelsgesellschaft, FIFA’s officia
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COVID-19 reinfections rising in South Korea
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Giant whale installation to appear in Jeju fest
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