U.S. ambassador to Korea Sung Kim said South Korea is a safe and attractive business venue despite North Korea’s military threats.“The very fact that we are gathered here this evening to celebrate this anniversary of AMCHAM is sending a strong message that despite North Korea’s provocations, Korea is a safe and attractive place to do business,” he said in the ceremony to mark the 60th anniversary of the American Chamber of Commerce in Korea on Tuesday evening. Leaders of the two countries’ busin

KB Financial Group chairman Euh Yoon-dae will share business views with Bill Gates, Warren Buffett and other global business tycoons at this year’s Microsoft CEO Summit in Seattle this week. Euh is the only Korean CEO to join the three-day global business networking hub in three consecutive years, the lender group said in a statement. Last year’s summit in 2012 involved discussion on solutions for the global economic slowdown by some 100 global business leaders including former British Prime Min

KB Financial Group and its major subsidiaries have set out to strengthen their global operations of community services for 2013.The nation’s leading financial group currently serves over 400,000 corporate clients and 26 million retail customers through a network of around 1,200 branches at home and abroad.It incorporated four key categories ― youth, global, environment and senior welfare ― to fulfill corporate social responsibilities.Back in November 2011, KB Financial launched a large-scale soc

KB Financial Group chairman Euh Yoon-dae on Thursday raised the possibility that Asian countries may experience a massive outflow of funds in the wake of some developed countries’ quantitative easing.His remarks come during the first day of the two-day summit of some 120 Asian financial leaders, dubbed the 2013 Institute of International Finance Asia CEO Summit, at the Westin Chosun Hotel in downtown Seoul.“Should developed countries unexpectedly adopt an exit strategy (from Asia) upon world eco

Some conglomerates’ financial woes and households’ growing difficulties in repaying debts are increasing local banks’ bad debt. The total sum of nonperforming loans from the country’s six largest banks has been snowballing, reaching 13.1 trillion won ($12 billion) as of the end of March, up 12.9 percent since December’s 11.6 trillion won. A nonperforming loan is one that appears unlikely or impossible to be repaid.The six banks ― Shinhan Bank, Hana Bank, Korea Exchange Bank, KB Kookmin Bank, Woo

South Korea must work on stronger ties with Japan before discussing creative economy, French professor and columnist Guy Sorman said on Tuesday.Speaking at a meeting with a group of government policymakers and businesspeople in Seoul, he said, “South Korea needs to rebuild its ties with Japan. It’s absolutely necessary for the geopolitical stability of the region and for economic reasons.“It’s useless to talk about creative economy and added-cultural value, if the world around you is struggling,

Woori Investment & Securities Co. has launched its “Octo Global Installment-type Service,” which it touts as the fastest and easiest trading overseas stock service of its kind. The securities house has introduced the automatic trading service amid rising domestic popularity of trading overseas stocks and overseas exchange-traded funds.Exchange-traded funds, or ETFs, are a security that tracks an index, commodity or asset vehicles like an index fund, while trading on stock exchanges like a stock.

CHEONGJU, North Chungcheong Province ― “Spec” is a term used by Korean job seekers. It refers to highly thought of qualifications such as university name, grades, internships, awards and overseas experience. Many Korean students believe great specs are a must for promising jobs.Shin Ji-yoon, 23, an English major senior at Chungbuk National University, admitted that she was daunted by students from in and around Seoul ― her soon-to-be competitors in the job market. “It would be a lie to say that

The nation’s top tax official has sought to ease concerns among businesspeople about the government’s move to strengthen its tax monitoring of firms and vowed to support them with proper tax management.Speaking at a meeting with a group of enterprises organized by the Korea Chamber of Commerce and Industry on Thursday, National Tax Service Commissioner Kim Duk-joong also urged business circles to join its push for “clean taxation” polices. The meeting was organized to appease businesspeople who