Tag: arirangtv

S. Korea’s household loans soars US$8.9 bil. in October

Recently the Korean government announced new measures to try and bring down the amount of debt burdening Korean households. But data last month show just the opposite happening — borrowing jumped in October by the most in five months… due to a long holiday and lending by new online banks. Our Lee Jeong-yeon has the […]

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Conglomerates borrowed bank loans to make donations to government-led foundation

The heads of two Korean conglomerates testified to prosecutors they were forced to take out bank loans in order to donate money to a government-linked foundation…. that they were pressured by the presidential office of Cheong Wa Dae. SK Group chairman Chey Tae-Won… and Lotte Group chair Shin Dong-bin… claim they each gave five to […]

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Household loan growth fell in January to lowest in 3 years: BOK

The Bank of Korea reported today that outstanding loans to households increased last month by the smallest amount in three years… as the government struggles to get a grip on private debt. The BOK said household loans rose in January by 100 billion won, or about 87 million dollars, just a fraction of the 3-point-4 […]

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Donald Trump officially wins Republican nomination

Few would have thought it possible a few months ago,… but Donald Trump has been formally nominated the Republican Party’s candidate for the U.S. presidential election in November. For more on that, we go live to our correspondent Park Ji-won, who’s in Cleveland, Ohio, covering the G-O-P convention for us. Jiwon Hello Mark After a […]

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Government to use foreign exchange reserves to provide loans to businesses

The Korean government is planning to use some of its foreign exchange holdings to help boost foreign investment by Korean companies. The finance ministry said Monday… the government will use about 10 billion U.S. dollars of the country’s foreign exchange reserves, totalling more than 3-hundred-fifty billion dollars… to provide loans to Korean businesses willing to […]

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Clinton leads Trump ahead of Republican convention: Poll

Over in the U.S., Hillary Clinton has a five-point lead over her rival Donald Trump in a recent poll… heading into the national party conventions. Park Ji-won updates us on the race for the White House. Democratic Party candidate Hillary Clinton has a five-percentage-point lead over her Republican rival Donald Trump… ahead of the party […]

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Debt of low-income, low-credit borrowers increased by US$ 3.5 bil. y/y in 2018

Debt owed by Koreans with low incomes and… or poor credit continues to grow. In 2018, it rose by 3-and-a-half billion U.S. dollars on-year… to reach 76 billion. The Bank of Korea points out debt was mainly in the form of loans from non-bank financial institutions… and other personal loans. The debts of these low-income, […]

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Lotte Mart’s Chinese website back online after 2 months blackout

China appears to be easing its economic retaliation against Seoul for deploying the THAAD missile defense system on South Korean soil. Korean retail giant Lotte Mart reactivated its Chinese website on Tuesday after being forced offline for several weeks. Kwon Jang-ho reports. Lotte Mart’s website in China is back online. For two months the website […]

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Bitcoin, Bitcoin Cash see volatile price fluctuations, local virtual currency exchanges paralyzed

The prices of Bitcoin and Bitcoin Cash fluctuated violently over the weekend,… with many local traders reporting service interruptions on the country’s virtual currency exchanges. According to Coindesk, the price of Bitcoin… which soared to above 77-hundred dollars last Wednesday,… plunged over the weekend… and is now trading at just over six-thousand dollars. Its cousin […]

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