KoreaTimes - Markets

The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Markets

Thu, February 9, 2023 | 22:21

Banks rush to lower interest rates for savings products

Banks rush to lower interest rates for savings products

Commercial banks here have come under criticism for cutting their savings interest rates on a larger scale than those from loan products. According to data from Korea's top five banks - KB, Shinhan, Hana, Woori and NongHyup - the average interest rate for their savings product with a one-year maturity was within a band from 3.36 to 3.6 percent as of Wednesday. This is a drop ...

2023-02-09 16:42

Mid-tier brokerages report earnings shock

Mid-tier brokerages report earnings shock

Mid-tier securities firms reported a more drastic fall in earnings compared with their bigger counterparts in 2022, in the aftermath of slumping stock sentiment and a slowdown in the real estate market, which was prompted by sharp interest rate hikes. Hanwha Investment & Securities recorded a deficit last year with a net loss of 47.6 billion won ($37.72 million). This is a dr...

2023-02-09 16:15

Risks of real estate project financing loom large on economy

Risks of real estate project financing loom large on economy

Risks stemming from real estate project financing (PF) is looming large as one of key threat factors in the local financial sector this year. Securities companies particularly experience a high default rate of their loans to real estate PF, concerning market watchers that a negative chain reaction could result in a crisis for the market.

Anna J. Park | 2023-02-09 16:07

Stocks end higher after zig-zagging on Fed chair's comments

Stocks end higher after zig-zagging on Fed chair's comments

Wall Street is ticking higher Tuesday after the head of the Federal Reserve signaled last week's stunningly strong jobs report isn't likely to change where interest rates are heading on its own, as some investors had feared.

2023-02-08 11:39

Inflation starting to slow but long, 'bumpy' road ahead: Powell

Securities firms lower outlook on KOSPI's growth

Securities firms lower outlook on KOSPI's growth

Securities firms are on track to lower the outlook on the benchmark KOSPI, citing the possibility of Korean stocks entering a readjustment period after achieving a vigorous rally throughout January. They expected the local stock market to face widening volatility this month amid rekindling woes over global monetary tightening after the U.S. reported robust job recovery. Key e...

2023-02-07 15:33

Korea to extend FX trading hours, allow offshore firms' participation

Korea to extend FX trading hours, allow offshore firms' participation

Korea plans to more than double its foreign-exchange trading hours and allow offshore firms to participate in the market in line with efforts to attract more investment from overseas, the financial authorities said Tuesday.

2023-02-07 12:13

Tech stocks boosted by Apple Pay's arrival

Tech stocks boosted by Apple Pay's arrival

Shares of electronic payment and wireless communication service operators surged Monday on growing hopes for the launch of Apple Pay in Korea. According to data from the Korea Exchange, KG Mobilians' share price soared by more than 20 percent soon after the opening of the stock market here. The company operates businesses on wired and wireless payment services.

2023-02-06 16:56

Seoul stocks end lower amid Fed rate hike woes

Seoul stocks end lower amid Fed rate hike woes

Seoul shares ended lower Monday, as strong U.S. jobs data fueled fears of further rate hikes to tame inflation. The Korean won fell sharply to a monthly low against the U.S. dollar.

2023-02-06 16:48

Exchange rate on rollercoaster ride amid stronger US job recovery

Tasks lie ahead for Woori's next chairman nominee picked amid controversy

Tasks lie ahead for Woori's next chairman nominee picked amid controversy

Woori Financial Group's next chairman nominee Yim Jong-ryong stands to be tasked with a drastic organizational reshuffle and non-banking portfolio expansion if he takes the position, a possibility that could become reality by as early as March. Yim has been nominated as the sole candidate for the position last week to replace outgoing Chairman Son Tae-seung. Woori's decision ...

2023-02-05 16:39

FSC approves security token transactions in Korea

FSC approves security token transactions in Korea

Korea's Financial Services Commission (FSC) on Sunday approved the issuance and distribution of security tokens - a kind of cryptocurrency used to trade fractions of assets, such as real estate and art, in the digital form. Under the decision, investors will be able to trade security tokens sometime as early as 2024 after the FSC finishes the revision of relevant laws.

2023-02-05 16:34

1 2 3 4 5 6 7 8 9 10

Top 10 Stories

1	Korean Peninsula may face fallout from balloon saga

2	PHOTOSTurkey-Syria earthquake

3	Daughter-centered photos, title of honor reinforce speculation over North Korea succession

4	SM's management dispute to benefit Kakao

5	INTERVIEW'Growth slowdown can accelerate depletion of retirement pension fund'

6	National Assembly votes to impeach interior minister for Itaewon tragedy

7	Key real estate owned by McDonald's Korea excluded from sale

8	Philip Morris seeks to surpass KT&G in e-cigarette market

9	SM6 Feel attracts customers with popular options, low price

10	Korean companies move to support victims in earthquake-hit Turkey, Syria

DARKROOM