KB News DeskFinancial regulator calls for need to reform private pension programs
The head of the financial regulator stressed the need to improve private pension programs Thursday, a day after the government unveiled details of a reform plan for the national pension…
Regulator calls for ‘coordinated’ efforts to curb rise in household debts
The head of Korea’s financial regulator on Wednesday called for coordinated pan-industry efforts to curb the rise in household debts. Lee Bok-hyun, chief of the Financial Supervisory Service (FSS), insisted…
BOK expects inflation to remain stable for time being
The Bank of Korea (BOK) said Tuesday it expects consumer inflation to remain stable for the time being, reinforcing views that the central bank may consider a policy pivot. BOK…
Exports rise for 11th straight month in August on strong chip demand
Korea’s exports extended on-year gains to the 11th straight month in August, data showed Sunday, driven by the strong demand for semiconductors. Outbound shipments rose 11.4 percent on-year to $57.9…
BOK, Bank Indonesia to launch cross-border payments with local currency next month
The Bank of Korea (BOK) said Friday that it agreed to launch local currency transactions for cross-border payments in late September. Under the agreement, current account transactions between the two…
Nearly 10% of real estate PF loans subject to restructuring: regulator
Some 21 trillion won ($15.7 billion) in short-term loans and loan guarantees extended to construction projects have been determined “risky” and may be subject to restructuring, the financial regulator said…
Finance chief calls for thorough responses to Middle East tensions
Finance Minister Choi Sang-mok on Wednesday called for preemptive responses to prevent the possible impact of ongoing conflicts in the Middle East on the domestic economy. Choi made the call…
BOK chief defends rate freeze aimed at curbing household debt
Korea’s central bank chief on Tuesday defended the bank’s latest rate freeze decision, saying that the level of household debt is inching toward a point that can cause an economic…
National, household debt surpasses $2.26 tril. amid lower state revenue
The combined debt of the government and households in Korea has surpassed 3,000 trillion won ($2.26 trillion) for the first time, driven by lower tax revenue, increased bond issuance and…
Foreign currency deposits up for 2nd month in July
Foreign currency deposits rose for the second straight month in July as companies saved more U.S. dollar-denominated currency, central bank data showed Friday. Residents’ outstanding foreign currency-denominated deposits reached $4.44…
