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Economy

Thu, May 19, 2022 | 21:37

[INTERVIEW] Reviving currency swap deal with US is matter of restoring trust: ex-FSC chief

The possible revival of a currency swap deal between Korea and the United States has emerged as a hot issue mainly due to concerns over the weakening Korean won against the U.S. dollar. But it is also a matter of restoring bilateral trust, says Institute for Global Economics (IGE) Chairman and CEO Jun Kwang-woo, in the lead-up to the first summit between the leaders of Korea ...

Yi Whan-woo | 2022-05-19 15:38

Household income grows at fastest pace in Q1 on economic recovery

Household income grew at the fastest pace on record in the first quarter on the back of the economic recovery and state relief funds for pandemic-hit merchants, data showed Thursday.

2022-05-19 13:57

Delinquency ratio on bank loans down in March

The delinquency ratio on loans extended by banks here declined in March from a month earlier, the financial watchdog said Thursday.

2022-05-19 12:01

Korea's tax revenue up 10.4 trillion won in March

Tax revenue here increased 10.4 trillion won ($8.16 billion) in March from a year earlier, as the collection of corporate and value-added taxes rose amid the economic recovery, the finance ministry said Thursday.

2022-05-19 11:07

FSC's new vice chief stresses risk management amid market uncertainties

The new vice chairman of the Financial Services Commission (FSC) presided over a financial market monitoring meeting on Wednesday morning, stressing the regulator's determination to keep local financial companies' risk management capacities under control. The meeting was Vice Chairman Kim So-young's first public appearance following his appointment on Tuesday, which received ...

Anna J. Park | 2022-05-18 16:00

Young investors panic-stricken over crash of TerraUSD, Luna cryptocurrencies

The shocking implosion of the TerraUSD and Luna cryptocurrencies threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.

2022-05-18 14:21

Inflation in all Korean provinces, major cities up in Q1

Consumer prices rose in all 17 provinces and major cities in the first quarter as high fuel costs and the economic recovery have put upward pressure on inflation, data showed Wednesday.

2022-05-18 14:19

KDI cuts 2022 growth outlook to 2.8%, ups inflation estimate to 4.2%

The Korea Development Institute (KDI) lowered its 2022 growth forecast for the Korean economy to the 2 percent range, Wednesday, while sharply raising its inflation outlook to over 4 percent amid heightened economic uncertainty.

2022-05-18 13:48

Inflation in all Korean provinces, major cities up in Q1

Government needs to overhaul digital asset regulations

Despite the fact that cryptocurrency trades are made in trillions of won every day, the digital asset markets in Korea still stay in the shadow area. There is an opinion that it is too early to incorporate digital assets, including cryptocurrencies, into the institutional system because there are still conflicting perspectives about the fundamentals of cryptocurrencies and th...

Anna J. Park | 2022-05-18 13:00

FSC official calls for beefed-up financial market monitoring amid rising uncertainty

Korea needs to keep close tabs on financial market situations with a "sense of crisis" that the many potential risks facing the country could turn into reality at any time, a top financial regulator said Wednesday.

2022-05-18 10:35

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