KB News DeskMinister pushes for inheritance tax overhaul
Ministry to propose tax bill in H1 2025 South Korea is set to overhaul its inheritance tax system next year, with the Finance Ministry preparing a bill to tax the…
FSC chief calls on mutual savings banks to swiftly address risks on PF loans
The chief of the financial regulator urged mutual savings banks Monday to recommit themselves to their basic duty of serving their communities, also calling on them to quickly address risks…
S. Korea logs current account surplus for 3rd month in July
South Korea racked up a current account surplus for the third consecutive month in July, driven by robust exports, central bank data showed Friday. The country’s current account surplus reached…
Financial 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…