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The Korea Herald

Economy

February 27, 2024
High rates drive 49% surge in 2023 Korean banks' bad loans: report

Rises in high interest rates led to a 49 percent surge in Korean banks' potential uncollected loans for 2023, Yonhap News reported, citing a data from the financial industry. The data released on Tuesday revealed a significant 49 percent increase in the potential uncollected loans held by four maj...
February 27, 2024
Korea's March biz sentiment remains gloomy: Survey

A recent poll indicated that business sentiment in South Korea for March has continued to be pessimistic, largely influenced by ongoing worries about the global economic slowdown. According to the monthly survey conducted by the Federation of Korean Industries (FKI), the Business Survey Index (BSI...
February 27, 2024
New regulation on housing loans comes into force

South Korea has tightened household debt regulations with the introduction of "stress interest" to the debt service ratio system across the banking sector, effective Monday. The Financial Services Commission has implemented the stress DSR system, which imposes surplus interest -- called stress int...
February 26, 2024
Korea's tech exports reach record $15.2b in 2022

South Korea's tech exports surged to a new peak of $15.2 billion in 2022, with a 2 percent increase driven by heightened sales to the United States, government data revealed on Monday. Tech imports grew by 5 percent to $19.6 billion during the same period, leading to a 17.1 percent expansion in th...
February 23, 2024
Regulators warn of possible risks from foreign real estate investment

South Korean regulators warned Thursday of increasing risks in the domestic financial sector due to overseas real estate investments, with around 2.46 trillion won ($1.85 billion) exposed to potential risk, while also aiming to reassure the public that the impact on the overall industry will be lim...
February 23, 2024
Korean 'crypto king' likely to be extradited to US

A court in Montenegro has ruled for the extradition of cryptocurrency entrepreneur Kwon Do-hyung, widely known as "crypto king" Do Kwon, to the United States, according to The Wall Street Journal. Despite Kwon's defense advocating for transfer to his home country of South Korea, the Montenegro cou...
February 22, 2024
Korea to facilitate easier currency trading for foreigners

Foreigners seeking to invest in the Korean capital markets will be able to exchange foreign currencies for Korean won more easily starting in the next quarter, according to the South Korean government on Wednesday. The revision comes as part of the government's efforts to enhance efficiency and st...
February 22, 2024
More South Korean men become stay-at-home dads

More men are reporting themselves as "economically inactive" -- those not working nor seeking work -- to provide full-time parenting for their children, data showed Wednesday. The number of men who were economically inactive in 2023 citing child care stood at around 16,000, according to Statistics...
February 20, 2024
Advertisers pressured to boycott Lee Kang-in

Several advertisers are facing pressure to cancel their contracts with South Korean soccer star Lee Kang-in, following the 23-year-old’s alleged discord with national soccer team captain Son Heung-min. According to industry officials on Monday, some companies intending to feature the Paris Saint-...
February 20, 2024
Coupang, Yuhan join labor policy-focused business lobby

E-commerce giant Coupang and pharmaceutical firm Yuhan Corp. are set to join the Korea Enterprises Federation, a business lobby representing over 4,000 businesses here, according to industry sources on Monday. Some 10 firms, including Coupang, have submitted membership applications to the group, w...
February 20, 2024
8 in 10 builders struggle to pay back debt interest

Eight out of ten construction firms here said they are experiencing difficulties in paying debt interest, according to a local survey released on Monday. According to the Federation of Korean Industries' survey involving 102 construction companies among the top 500 construction firms, 76.4 percent...
February 19, 2024
English service enhanced for electronic disclosures

The Financial Supervisory Service announced Sunday an updated plan aimed at providing foreign investors with more English information on financial disclosures, as part of efforts to facilitate foreign investment in Korean companies. The initiative to provide English services commenced in January 2...
February 19, 2024
[Herald Interview] ‘Korea needs to power up defense academia’

South Korea now should focus on fostering defense academia and young talents to become a leader in the global defense industry, says Kang Eun-ho, former chief of the Defense Acquisition Program Administration. “In the past, Korea followed a catch-up strategy (in advancing its defense industry), w...
February 19, 2024
US commercial property crisis looms over Korea

Under this circumstance, the local financial watchdog has stepped up its oversight of the financial sector and is currently scrutinizing individual investments made by local financial firms. Recently, a local insurance firm faced sanctions from the Financial Supervisory Service due to poor risk man...
February 15, 2024
Korea no longer a land of workaholics, study suggests

The proportion of South Koreans working more than 50 hours a week has sharply dropped over the past 20 years to be on par with the average for member countries of the Organization for Economic Cooperation and Development, according to a new report from a Korean business lobby group on Tuesday. Acc...

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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