KB News DeskKorean shares tank as global rout continues
South Korean shares dived more than 8 percent on Monday, triggering the stock exchange to temporarily halt the main Kospi and secondary Kosdaq markets, as investors were gripped by fear…
FSC chief vows to curb household debts, stabilize financial market
The head of South Korea’s financial regulator said Monday that he will redouble efforts to reduce high household debts via the implementation of tighter curbs. Kim Byoung-hwan, the chief of…
Dovish Fed advances BOK cut prospects for October
Expectations for the Bank of Korea (BOK) to lower its key rate in October are growing, reaffirmed by the dovish stance of the U.S. Federal Reserve on September easing, market…
Young Koreans say ‘No’ to YOLO, ‘Yes’ to YONO
Choi Ye-bin, a 27-year-old event director, has been keeping a household ledger for four years. She started the habit as she felt a gap between the perceived and actual amount…
New financial regulator aims to forge strong ties with financial watchdog
Young finance chiefs’ collaboration raises both concerns and expectations By Jun Ji-hye Kim Byoung-hwan was officially appointed by President Yoon Suk Yeol as the chief of the Financial Services Commission…
Dairy farmers, firms agree to freeze milk price amid inflation
Korea’s agricultural ministry said Tuesday dairy farmers and businesses have reached an agreement to freeze the price of raw milk to alleviate the public burden amid ongoing inflation. The agreement…
Israel cabinet authorizes government to respond to Hezbollah rocket strike
Israel’s security cabinet on Sunday authorized Prime Minister Benjamin Netanyahu’s government to decide on the “manner and timing” of a response to a rocket strike in the Israeli-occupied Golan Heights…
ABS issuance plunges 34% on-year in Q2
The issuance of asset-based securities (ABSs) in Korea dropped sharply from a year earlier in the second quarter due to a sharp decline in those issued by the state-run housing…
Korea to scrap disputed capital gains tax on financial investments
The government has decided to cancel the proposed capital gains tax on financial investments after years of debates over concerns that the tax could harm the capital market and disadvantage…
WeMakePrice crisis feared to trigger chain of defaults
A growing number of local commercial lenders are denying accounts receivable loans to small merchants on WeMakePrice and TMON, the two beleaguered e-commerce firms operated by Qoo10 at the center…
