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Finance

U.S. Treasury's unusual verbal intervention seen pausing won's weakness

South Korea's financial industry expects the recent sharp rise in the won-dollar exchange rate to pause after an unusual verbal intervention by the U.S. Treasury secretary on the won's weakness. Analysts said concerns about excessive volatility could heighten caution over further market intervention. They also noted Japan's own verbal intervention. Some see the joint comments by the U.S., South Korea and Japan having short-term impact, though durability is uncertain.

Finance

Wall Street falls for second day on Iran fears, tech slide

Wall Street's three main indexes closed lower for a second straight session as concerns that the United States could intervene militarily in Iran weighed on sentiment and the Supreme Court did not deliver a ruling on the legality of tariffs. Losses narrowed late in the day after President Donald Trump suggested he might not strike Iran. Technology shares led declines, while energy stocks outperformed.

Finance

Hana Bank launches pension living expense loan for public pension recipients

Hana Bank said on Thursday it has launched a small credit loan product, the Pension Living Expense Loan, for customers receiving public pensions. The bank said the product targets recipients of the National Pension, Government Employees Pension, Private School Teachers Pension and Military Pension. It offers a single limit of 500,000 won with a fixed annual interest rate of 1.0 percent and a three-year term, and operates as an overdraft-style account for unexpected expenses.