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Finance

Woori Bank launches \'Our Wish\' time deposit and savings products with rates up to 8.29 percent

Woori Bank has launched customer-participation time deposit and savings products to mark the 150th anniversary of the birth of independence activist Kim Gu and Liberation Day. Customers who take part in an “Our Wish” message campaign can receive maximum annual rates of 3.60 percent on the time deposit and 8.29 percent on the savings product. The time deposit is sold in 6- and 12-month terms, with a total sales cap of 1 trillion won.

Finance

KOSPI record surge puts focus on whether rebound can continue

South Korea\'s stock market, after posting its biggest one-day jump on record on July 31, is in focus this week for signs the rebound can continue. Easing worries about a slowdown in AI investment, upcoming U.S. economic data and interest rates, and whether semiconductor supply normalises are seen as key variables. Foreign investors returned in force, while individuals sold heavily. Market participants are also watching the impact of tighter rules on single-stock leveraged ETFs.

Finance

Daol Savings Bank launches cost-of-living stabilisation loan for mid-to-low credit borrowers

Daol Savings Bank has launched a new loan product aimed at mid-to-low credit borrowers to help them secure funds for living expenses. The Daol mid-interest-rate cost-of-living stabilisation loan targets customers in the bottom 50 percent by credit score and offers up to 10 million won. Interest rates range from 5.9 to 15.27 percent a year, with terms of up to 120 months. Borrowers must use funds for living stabilisation purposes and sign an agreement including restrictions such as limits on home purchases.