News Link
Daily news updates provided by Joongang Daily
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June 20, 2013
- Incheon City chases after investment
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The local government of Incheon City has made extensive efforts to attract leading companies from both home and abroad. The Incheon Metropolitan Government, along with the Incheon Free Economic Zone Authority, Incheon Development & Tourism Corporation and Incheon Chamber of Commerce & ...
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June 20, 2013
- CEO outlines global aspirations for Korean Re
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Korean Re CEO Won Jong-gyu said he will take the country’s largest reinsurance provider to the next level and transform it into a leading global reinsurer that generates half of its revenues from overseas by 2020. The company, also known as Korean Insurance Company, currently gets about 80 per...
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June 20, 2013
- Women face a stacked deck in workplace
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Seo Jeong-eun, who has a 3-year-old son and a newborn daughter, is afraid of returning to work after a six-month maternity leave because she might be passed over for promotion to assistant manager - again. “When I returned last year after a seven-month break for having my first child, the com...
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June 20, 2013
- Employers offering less hours, more flexibility
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Increasing the number of regular part-time jobs is a key part of the government’s road map to the 70 percent rate of employment announced June 4, and there have been several initiatives targeting the likeliest beneficiaries of that strategy: women of childbearing age. While there has been som...
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June 19, 2013
- Key rate to stay frozen, say banks
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Most investment banks expect the Bank of Korea to keep the key interest rate unchanged this year as the bank takes a wait-and-see stance on the global economic situation, according to investment bank reports compiled by the Korean Center for International Finance. The BOK left the key borrowin...
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June 19, 2013
- China cash crunch hints at early banking crisis
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China’s worst cash crunch in at least seven years is an indicator of shadow lending gone awry and a banking crisis could appear earlier than expected if liquidity remains tight, according to Fitch Ratings. “We are starting to see some issues emerging” in liquidity, Charlene Chu, Fitch’s hea...
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June 19, 2013
- Allies of Woori regional banks muster at forum
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As the government beefs up its efforts to expedite the privatization of Woori Financial Group, controversy is rising over how it should dispose of two regional banks affiliated with the country’s largest financial holding company. Earlier this month, Financial Services Commission Chairman Shin...
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June 19, 2013
- Public institutions not making the grade
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Six more public institutions received the lowest grade of E in the latest evaluation of public entities, while two heads of E-level institutes were advised by the Park Geun-hye government to step down. The government’s action sends a strong signal to public organizations that have been critic...
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June 18, 2013
- Kospi dips on concerns over U.S. easing
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Korean shares fell 0.32 percent yesterday as foreign investors continued to take out their capital in the local stock market amid growing uncertainty ahead of the U.S. Federal Open Market Committee meeting this week. Concerns have been rising that the Fed may curtail or withdraw from its quantit...
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June 18, 2013
- Report cites potential risks
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The scaling down of the United States’ quantitative easing and the delayed economic recovery in emerging countries are among potential risk factors that could affect the international financial market in the second half of the year, according to a Korea Center for International Finance report r...
