Financial Supervisory Service Gov. Kwon Hyouk-se reiterated Thursday that he would increase the manpower directing probes of financial companies by reshuffling the regulatory body.Kwon, who took office as the chief financial regulator a week ago, told reporters that he would prioritize increasing the ratio of inspectors among FSS staffers in coming months.He cited the slashed ratio of inspectors ―

The government said Thursday that it plans to tackle the recent spike in the price of farm and fisheries products that has contributed to rising inflationary pressure.The announcement by the Ministry for Food, Agriculture, Forestry and Fisheries came after soaring costs for food helped send growth in consumer prices to a 29-month on-year high of 4.7 percent in March. Of total gains, prices for far

Standard Chartered First Bank pays first dividendBritish banking giant Standard Chartered Plc will continue to invest in Korea, its head said Thursday, dismissing speculation that planned closures of some of its branches here may indicate retreats in its investment.“Our business here in Korea is the core part of growth,” Peter Sands, chief executive officer of Standard Chartered, said at a press c

Nestle S.A., the world’s largest food company, is seeking to boost its beverage and coffee machinery purchase from innovative Korean manufacturers, one of the firm’s high-ranking officials said Thursday. The firm saw the biggest potential of local companies in its leading technologies and dynamics, said Ruguo Hu, head of equipment & system of Nestle R&D Centre Shanghai. The Shanghai R&D center is

State-run oil firm also seeks to diversify business to crude alternatives State-run Korea National Oil Corp. is stepping up overseas development projects and expanding its portfolio into alternative resources in bid to boost the country’s energy security. Korea, the world’s fifth-largest importer of crude oil, has been vulnerable to global oil price volatility and uncertainties in the market, espe

Korean beef promotion event is held in Suwon, Gyeonggi Province. (Yonhap News)About half of Korean consumers cut spending on beef and pork due to concerns over foot-and-mouth disease, which has spread nationwide since November and caused significant damage, a survey conducted by Nielsen Company showed Tuesday. The survey was conducted on 1,000 internet users in major cities in Korea including Seou

(MCT)While people move from one company to another for many different reasons, a recent study showed that the biggest factor is salary.In a survey by Korea-based recruitment portal Saramin, about 41.5 percent of respondents who had changed jobs said salary was the main reason. About 2,057 people participated in the research, with 65.8 percent of respondents having experience of moving in their car

CEO says company will seek to supply electric-car batteries to Japanese firmsOCHANG, North Chungcheong Province ― LG Chem, the nation’s largest chemical company, sees South Korea having a global edge as a supplier of lithium batteries for electric vehicles, including in markets such as Japan. Renewing the firm’s pledge to join hands with international carmakers to lead the world’s battery industry

Shinhan Bank president & CEO Suh Jin-won pledged Wednesday to achieve the goal of making the lender one of the top 10 commercial banks in Asia and No. 1 in Korea within four years.Suh, who took office 100 days ago, unveiled the bank’s mid- and long-term targets during his meeting with reporters in downtown Seoul.“I will take the role of initiating changes under the goal of pulling up our bank to t