Loan Interest Rates on the Rise as Banks Adjust Additional Interest Rates
Loan interest rates are on the rise, with commercial banks adjusting their additional interest rates accordingly. Despite efforts by financial authorities to tighten household loans, there has been no slowdown in the increase of household loans, including home mortgage loans. To curb loan demand, banks are lowering favorable interest rates and raising additional interest rates. […]
The Looming Crisis: Delinquency Rates in the Financial Sector on the Rise
Second Financial Sector Faces Rising Delinquency Rates, Sparking Concerns of a September Crisis The delinquency rate in the financial sector has seen a significant increase in the past six months, leading to rumors of a potential crisis in the second financial sector. Despite the efforts of financial authorities, the looming end of Corona 19 loan […]
Kakao Founder Kim Bum-soo Faces Price Manipulation Allegations and Company Crisis
Title: Kakao Founder Kim Bum-soo Faces Investigation for Stock Price Manipulation Heading 1: Kakao’s Main Affiliates Suffer as Performance Plummets Kakao, the influential South Korean tech company, is facing a daunting challenge as its founder, Kim Bum-soo, becomes the target of a search and seizure operation for alleged price manipulation. The consequences of this investigation […]
Responsibilities for internal control of CEOs of financial companies will become clear in the future…Recommendation for dismissal in case of violation
Financial Services Commission Commissioner Kim Joo-hyun (fifth from left) and Financial Supervisory Service Governor Lee Bok-hyun (fourth from left) pose for a commemorative photo at the meeting held at the Press Center in Jung-gu, Seoul on the morning of the 22nd. [사진=유대길 기자 dbeorlf123@ajunews.com] In the future, the CEO of a financial company must draw […]
Financial Services Commission deregulation of corporate accounting, delaying introduction of internal accounting control for 5 years with less than 2 trillion assets
[비즈니스포스트] The financial authorities have decided to postpone the mandatory external audit of the internal accounting control system for listed companies with less than 2 trillion won in assets by five years. In addition, it was decided to reduce the burden of the auditor designation system by reducing the reasons for designating auditors ex officio. […]
[‘금피아’ 카르텔]① 1 in 10 people as an auditor in a financial company… A reasonable ‘Internal control hole’
Woori and Hana Bank, a new permanent auditor from the Financial Supervisory ServiceBetween 2018 and 2022, 22 government people were re-employed as auditors Concern about ‘guarding’ lobbying windows and authority directors japchae Direct visits to institutions under the supervision of ‘supervisors’ continue. This is a case of re-employment in a private financial company such as […]
[2023 APFF] High interest rate shock aggravates compound crisis… All-out efforts for preemptive response
On the morning of the 21st, attendees are taking a commemorative photo at the ‘2023 Asia Pacific Financial Forum (2023 APFF)’ held at The Plaza Hotel in Jung-gu, Seoul. From left in the front row, NH Nonghyup Bank President Lee Seok-yong, General Insurance Association Chairman Jeong Ji-won, KB Financial Group Vice Chairman Yang Jong-hee, Financial […]
Financial authorities are examining the performance bonus party of insurance and credit card companies
zoom image The financial authorities check not only banks, but also insurance companies and credit card companies to see if their performance and compensation systems are appropriate. Its purpose is to check the soundness of financial companies that managed to break the record last year and increase dividends and the adequacy of consumer services. It […]
“Efforts should be made to improve the performance based pay system” “Labour management autonomy”… Banknotes blocked from government interference
300-400% Public Opinion Based on Performance Federation Bank, data submission and call A rebuttal to the recent comments of the Governor of the Financial Supervisory Service Regarding the ‘performance pay party’ debate, the banking sector emphasized that performance pay is a matter that is decided by labor and management. It is interpreted that the financial […]
Significant challenges left by the Wemix crisis
Events large and small in the virtual asset market are constantly increasing. Related lawsuits are ongoing. The problem is that the debate in the virtual asset market is very complex. There are no regulations to control the market, and there are also guidelines for determining the properties of virtual asset securities. Even if the victimized […]
