Finance

Central bank pessimistic about economic outlook The Bank of Korea (BOK) shaved this year’s economic growth forecast to 2.2 percent on July 18, three months after the central bank lowered the projection by 10 basis points to 2.5 percent. It marks...

Central bank takes preemptive step amid trade dispute The Bank of Korea (BOK) cut its benchmark rate by 0.25 percentage points to 1.5 percent on July 18 to help the sluggish economy deal with the trade tension with Japan. The...

Why foreign life insurers have so many executives? There are 24 life insurance companies in Korea. Excluding small-sized players, 18 outfits have more than 250 employees as of this April, according to the Korea Life Insurance Association. A total of...

Officials complain about NY's strong standards This is the second in a series looking at whether Korean lenders are properly dealing with anti-money laundering issues in time with the visit to Korea of the Financial Action Task Force this month....

FATF will check local banks for anti-money laundering compliance This is the first in a series looking at whether Korean lenders are properly dealing with anti-money laundering issues in time with the visit to Korea of the Financial Action Task...

Seoul-based lender recognized by prestigious magazine A renowned financial magazine picked Citibank Korea as the “Best International Bank in Korea.” The Seoul-based lender won the accolade 10 times for the past 12 years. FinanceAsia, a Hong Kong-based publication reporting Asia’s financial...

Korean lenders opt not to acquire Cambodian financial outfit Shinhan Bank is Korea’s largest lender by net profit. When its new CEO Jin Ok-dong took charge of the Seoul-based entity early this year, he promised to remain ahead of the...

Korean outfit earns 120 million euros in 2 years Mirae Asset Global Investments has signed a deal to sell an office tower in Frankfurt’s banking district at 400 million euros, two years after it bought the property named Taunusanlage 8...

BOK chief stresses 'timely strategies' Bank of Korea Gov. Lee Ju-yeol hinted at the possibility of cutting down the benchmark rate amid the Sino-US trade conflicts, which weigh on Asia’s fourth-largest economy. In a speech commemorating the central bank’s 69th anniversary...

Central bank argues that economy rebounds The Bank of Korea (BOK) recently comes up with a rosy view on the Korean economy, which suffered the worst setback in a decade during the first quarter of this year. The central bank said...