Today’s Daily Dig looks at some long lasting institutions and what the future may hold, along with how housing and banking is affected in other parts of the world.
Foreign banks take much of their profits outside Korea as “consulting fees”
A controversy is brewing in South Korea over the percentage of profits foreign banks, including Citibank, are removing from the country. The removed funds are being termed “consulting fees” and can top 50% of total profits. The Korean Herald explains.