Deutsche Bank Group Korea said Thursday it will give up to 120 days of parental leave to its male employees as part of the European bank’s family-friendly corporate policy.While most companies offer legally-fixed 90-day parental leave, Deutsche Bank used to give 120-day leave to female employees to take care of a newborn. (123rf)Under the new policy, a male employee as a primary caregiver, taking care of his child during work hours, can use the maximum 120-day parental leave. A non-primary careg

South Korea's two state financial regulatory agencies sought to dispel public worries Thursday about possible conflicts over overlapping work and a lack of synergy, holding a joint meeting of top officials."At a time when uncertainties run high like this year, risk management is more important than any other time," said Yim Jong-yong, chairman of the Financial Services Commission. Yim Jong-yong, chairman of the Financial Services Commission (Yonhap)"For that, the FSC and the Financial Supervisor

South Korea said Thursday it will focus on reforming the nation's financial sector this year, especially in promoting the trust business and enhancing the competitiveness of local insurers and financial holding firms.The Financial Services Commission will also continue efforts to reinforce the fintech industry and raise the transparency of accounting practices. Kim Yong-beom, secretary general of the Financial Services Commission, holds a press briefing in a file photo. (Yonhap)The state regulat

South Korea's finance minister on Wednesday pledged to put the country's mounting household debt under control and prevent it from spreading to systemic risks."Household debt has been on the rise, but we can definitely slow down the pace," Finance Minister Yoo Il-ho said in a conference on the South Korean economy held at a hotel in New York. South Korea's Finance Minister Yoo Il-ho speaks at a conference in New York on Jan. 11, 2017. (Ministry of Strategy and Finance)"The government has impleme

The trade ministry will get rid of 10 percent of its invested firms within this year that repeatedly underperform and reinforce its monitoring of others, officials said Thursday.There will be a sweeping review starting in April of all companies invested in by public entities under the Ministry of Trade, Industry and Energy, and the decision on which ones will be ousted will be made around June, ministry officials said after a meeting in Seoul among the head of the public firms. The ministry has

The total amount of corporate bonds issued in South Korea declined 7 percent in 2016 from a year earlier, amid rising volatility in global bond yields and political uncertainties, the Korea Securities Depository said Wednesday.The volume of corporate bonds issued last year reached 310.8 trillion won, down from 334.6 trillion won in 2015, the state-run custodian and settlement services provider said.It is the first decline since 2013 when the issuance of corporate bonds fell 0.5 percent on-year.

Major South Korean banks have been strengthening their mobile capabilities to dominate markets ahead of the planned launch of the country's first Internet-only bank, industry sources said Wednesday.Shinhan Bank set up its mobile banking platform 'Sunny' bank as part of efforts to lure new customers. It said customers can open bank accounts by verifying their identities through mobile phones and ID cards without visiting bank outlets. Woori Bank has also introduced its mobile bank called 'Wibee'

Creditor banks will receive the final bids to sell Kumho Tire Co., South Korea's second-biggest tire company by sales, this week, the main creditor bank Korea Development Bank said Wednesday.The tiremaker's creditors led by KDB are set to receive the final bids from interested companies Thursday. One Indian and four Chinese firms have submitted preliminary bids, according to a person with direct knowledge of the deal.Nine creditors hold a combined 42.01 percent stake in Kumho Tire, with Woori Ba

South Korea's state pension fund increased its investment into petrochemical and bank stocks, while trimming its exposure to bio and pharmaceutical stocks, a market tracker said Wednesday.The National Pension Service, the country's leading institutional investor, held stakes of 5 percent or more in a total of 285 listed firms here at the end of last year. Of the tallied firms, the NPS increased its stakes in 96 firms, 10 of which were petrochemical stocks such as Kumho Petrochemical Co., accordi

South Korea's finance minister met with leaders of global investment banks in Wall Street to brief them on the country's recent economic situations and its fiscal policy road map, his office here said Wednesday.In a meeting with Goldman Sachs CEO Lloyd Blankfein in New York on Tuesday (US time), Finance Minister Yoo Il-ho stressed Asia's fourth-largest economy has been running steadily and smoothly despite the impeachment of President Park Geun-hye in December, according to the finance ministry.

South Korea's financial industry cut more than 12,000 jobs in the past three years, hit by a drawn-out economic slump, data showed Wednesday.The number of financial sector workers fell 5.6 percent to 207,000 at the end of the third quarter of 2016 from 220,303 three years earlier, according to CEO Score, a corporate management evaluation agency.It analyzed the employment situations at a total of 102 financial services firms nationwide.The number of rank and file workers fell to 205,662 from 217,

Foreign investors continued their buying spree for 10 consecutive trading days on Tuesday for South Korea’s main bourse, despite strong US dollars amid US interest rate hikes. 　 Foreigners bought a net of 99.7 billion won ($83 million) in shares Tuesday, marking the 10th day of net buying, although the benchmark Korea Composite Stock Price Index closed down 0.18 percent, or 3.66 points, to 2,045.12 points as institutional investors dumped a net 248 billion won. 　 As of Tuesday, foreigner

South Korea's financial authorities on Tuesday announced a plan to launch a full-scale pilot project this year on blockchain-powered financial services.South Korea, known for its ICT prowess, has accelerated its drive for capitalizing on the new platform. An international conference on bitcoin is held in South Korea in 2015 in this file photo. (Yonhap)Blockchain is a key technology for the digital currency bitcoin enabling data sharing across a network of individual computers. As a kind of distr

Shinhan Bank has launched a multilingual mobile banking application for foreign customers in South Korea, the bank said Tuesday.Shinhan Global S Bank offers banking services in 10 languages -- English, Chinese, Japanese, Vietnamese, Thai, Cambodian, Russian, Tagalog, Mongolian and Indonesian.  Shinhan Global S Bank (Shinhan Bank)The services include allowing users to check their account balance and exchange rates, make local and international transfers, as well as link up with a foreign-language

South Korea’s Finance Ministry said Tuesday it will seek changes in tax incentives early this year in a bid to promote marriage as well as increase jobs and corporate investment.To promote marriage, the ministry plans to offer up to 1 million won ($835) of tax deduction for a couple who ties the knot, until 2019.(123rf)Following the 10-day preannouncement of the bill containing such changes in tax incentive rules, the government will submit it to the National Assembly by early February for revie