Updated: 1 week 5 days ago
Mirae Asset Life, which has decided to introduce a voluntary retirement program, and other life insurers are rushing to downsize their workforces, according to industry analysts Tuesday. The move is to secure more capital by reducing labor costs to comply with IFRS17, a new set of strengthened international reporting standards that will go into effect January 2021.
Models order goods with Samsung Pay via a Samsung smart TV. Using the TV's T-commerce payment system, “Samsung Checkout,” Samsung Electronics said Samsung Pay users can order items through Samsung smart TVs starting Oct. 9.
KB Kookmin, Shinhan and other commercial banks have paid “excessive” wages to their employees while collecting record interest earnings from companies and households, government data showed Sunday.
The International Monetary Fund (IMF) on Tuesday lowered its growth outlook for South Korea to 2.8 percent from 3 percent amid sluggish corporate investment and domestic consumption.
President Moon Jae-in should reform the job market and develop the services sector to reverse the dismal unemployment situation and rehabilitate the Korean economy, a Washington-based economic expert said Wednesday.
Mirae Asset's overseas operations are gaining momentum under Mirae Asset Daewoo Hong Kong Chairman and Global Investment Strategy Officer Park Hyeon-joo's leadership. Park is a former chairman of Mirae Asset Financial Group.
Korea's financial bigwigs will visit Bali, Indonesia, from Oct. 12 to 14 for the 2018 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG).
The workplace especially in finance has a serious problem here, said Kim Sang-kyung, chair and chief executive of the Korea International Finance Institute (KIFI), a private institute that provides financial education and licenses. If the government does not address and try to resolve the rising gender inequality through legislative measures like Europe, the United States and Japan are doing, Korea's growth will fall further into deeper turmoil.
The National Pension Service (NPS) appointed BNK Financial Group President An Hyo-joon as the new chief investment officer (CIO) of its Investment Management department, it said Monday.
The country's manufacturing is in crisis, and its days will soon be numbered if it continues to go on like it used to, analysts say. Its existing competitive market structure may have worked before the global financial crisis of 2008, which helped spur growth and lead job creation. With the dawning of the new digital era, analysts say Korea needs to change its strategy to aggressively overhaul and transform manufacturing through a paradigm shift.
The number of workers in their 30s and 40s declined at the steepest pace in the first eight months of this year since 2009, a government report showed Sunday. Employees in this age group often are referred to as the backbone of the Korean economy, and the decline indicates the country's worsening job market conditions.
The National Pension Service (NPS) has come under fire for losing nearly 10 trillion won ($8.7 billion) in stock investments in the first seven months of this year amid the prolonged absence of top investment officers. Market analysts are calling on the state pension fund manager to stay away from political infighting between ruling and opposition parties concerning how its funds are managed, and pay more attention to boosting its investment returns.
Gasoline prices hit 1,740 won per liter at a local petrol station in Seoul, Sunday. The nation's average gasoline price reached 1,659.6 won per liter on Oct. 6, the highest it has been in three years and 10 months. The average gasoline price in Seoul also hit 1,744.8 won per liter on that day.
The National Pension Service (NPS), the country's top institutional investor, lost a whopping 9.9 trillion won (US$8.7 billion) from stock investments through July this year, a lawmaker said Saturday.
An office worker surnamed Kim, 34, let out a sigh of relief after listening to her friend who - yet again - had sought out a divorce lawyer following a heated family dispute during the Chuseok holiday. “I think I made the right decision to live alone every time I hear about my friends getting on the verge of divorce or complaining about how they wish they had never married,” said Kim, who lives in a studio apartment in Chungeongno, Seodaemun, Seoul.
Shares of the nation's big three shipyards _ Hyundai Heavy Industries, Samsung Heavy Industries and Daewoo Shipbuilding & Marine Engineering (DSME) _ are gaining momentum as they have clinched a series of shipbuilding orders this year.
Credit card companies are rushing to adopt payment using Quick Response (QR) codes, a move accelerated by the government-led initiative to facilitate such a system to cut transaction fees for small-to medium-sized businesses (SMEs).
Lee Dong-wook, third from left, managing director of KB Kookmin Card, holds the company's logo with foreign contestants who won prizes after playing a game at COEX in Seoul, Thursday, that tested their Korean language proficiency. The card company sponsored the game hosted by the King Sejong Institute to mark the 572nd Korean Alphabet Day, which falls on Oct. 9.