Insurers have chalked up surprisingly robust earnings in the first half of 2023 on their first introduction of the latest global insurance contract reporting standards.
Members of the International Council of Securities Associations (ICSA) stressed the dire need to alleviate post-pandemic global financial risks posed by escalating macroeconomic uncertainties here and abroad. A group of 300 members of the ICSA and Korea Financial Investment Association (KOFIA) discussed the agenda of breaking through the ongoing financial volatility on the sidelines of the 36th annual general meeting of the ICSA in Seoul, Tuesday.
Financial Supervisory Service (FSS) Governor Lee Bok-hyun has taken a step back from short-selling rules, stating that its full resumption will not be considered unless the Bank of Korea (BOK) cuts the key interest rate.
While banks are announcing plans to lower interest rates on loans one by one following visits by the top financial regulator, concerns are being raised that the “pressure” on the banks to lower interest rates contradicts the recent key interest rate hikes and possibly more rises in the future.