In a bid to bolster the competitiveness of the country's exports, which form the foundation of Korea's economy, the government has introduced an additional 23 trillion won ($17.18 billion) financial support plan, building upon a prior 16.7 trillion won initiative in funds for export enterprises. The "Comprehensive Export Finance Support Plan" comes after the fourth meeting on export strategy conve.
In a bid to bolster the competitiveness of the country's exports, which form the foundation of Korea's economy, the government has introduced an additional 23 trillion won ($17.18 billion) financial support plan, building upon a prior 16.7 trillion won initiative in funds for export enterprises. The "Comprehensive Export Finance Support Plan" comes after the fourth meeting on export strategy conve.
Commercial banks are hiking the costs associated with taking out a mortgage even while the benchmark interest rate has remained steady for more than half a year, in their bid to cover expenses needed to counter growing liquidity risks.
The Financial Supervisory Service (FSS) and banks have jointly launched a taskforce team to cooperate in setting up guidelines for the banking industry s best practices in corporate governance. The FSS announced Sunday that the kickoff meeting of the taskforce team took place late last week, drawing participants from eight financial holdings companies as well as the Korea Federation of Banks (KFB).
Korea s top financial regulator has vowed to lower entry barriers to the local banking industry by expanding accreditations of banking licenses to competent new players, a measure aimed to foster healthy competition in the local banking sector.