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The Korea Herald

Markets

December 20, 2024
Taipei Fubon Bank to launch first office in Seoul

Taipei Fubon Bank, the banking arm of Taiwan's Fubon Financial Holding, is waiting to receive the final nod from the local authorities to launch its first office in Seoul. South Korea’s Financial Supervisory Service recently completed its review of the Taiwanese commercial bank’s office establis...
December 20, 2024
KB Kookmin Card obtains merger nod for Cambodian subsidiaries

KB Kookmin Card said Friday that it has received approval from Cambodia’s Ministry of Commerce to merge its two local subsidiaries -- auto finance firm KB Daehan Specialized Bank and leasing company i-Finance Leasing. Under the merger, iFL will be integrated into KDSB, with the new entity retaini...
December 19, 2024
Mirae Asset’s overseas stock holdings hit W40tr

With more South Korean retail investors flocking to US shares and other overseas stock markets, the balance of foreign equities held by Mirae Asset Securities customers has reached 40 trillion won ($27.6 billion), according to the country’s leading brokerage house Thursday. Investors at Mirae Ass...
December 19, 2024
Authorities on alert as Korean won sinks to 15-year low

The Korean won fell Thursday to its weakest levels against the US dollar since the 2009 global financial crisis as the dollar strengthened after the US central bank signaled a slower pace of rate cuts, fueling concerns over further depreciation as markets continue to digest political turmoil unfold...
December 18, 2024
Govt. vows to encourage increased corporate investment

The South Korean government pledged to implement a set of measures to stimulate corporate investment despite the recent political disruption sparked by President Yoon Suk Yeol's short-lived martial law declaration. “With the escalated uncertainties surrounding the economy, a sense of crisis has b...
December 18, 2024
Seoul vows to restore market credibility amid political turmoil

Finance Minister Choi Sang-mok said economic instability and market volatility show signs of easing thanks to the swift responses by the government and the country's constitutional and economic systems. "Economic policies are being pursued through cooperation between the government, ruling party a...
December 17, 2024
Martial law debacle likely to hurt job market: report

The political turmoil following President Yoon Suk Yeol's ill-fated martial law declaration could negatively impact the labor market, according to a report by a state-run think tank. The Korea Labor Institute said that employment for 2025 is expected to increase by less than 100,000 compared to th...
December 17, 2024
Political uncertainty weighs on Korea’s credit rating

The political turmoil surrounding President Yoon Suk Yeol has begun to subside since the National Assembly passed the motion to impeach him on Saturday, but the uncertainty in state leadership continues to weigh on the country’s sovereign credit rating. Shortly after the fiasco caused by Yoon’s ...
December 17, 2024
Economy's biggest fear is uncertainty, says SK chief

SK Group Chairman Chey Tae-won, who also heads the Korea Chamber of Commerce and Industry, on Tuesday urged policymakers to ensure consistent economic policies to support businesses amid growing uncertainty following the National Assembly’s impeachment of President Yoon Suk Yeol over his botched m...
December 17, 2024
Woori Financial reaches out to global investors

Woori Financial Group said Monday it has activated its emergency operation system and ramped up communications with investors as South Korea navigates deepening political turmoil. Chairman Yim Jong-yong convened an emergency meeting earlier in the day to address rising financial instability follow...
December 16, 2024
Impeachment rattles Kospi despite stabilization hopes

Seoul's stock market saw heightened volatility on Monday, the first trading session following President Yoon Suk Yeol's suspension over the weekend. The benchmark Kospi opened at 2,511.08, up 16.62 points from Friday's close, briefly reaching 2,515.62 in the morning before reversing. By 2:30 p.m.,...
December 16, 2024
Bitcoin soars to new record on 'Santa rally'

Riding on an unprecedented global rally, the price of cryptocurrency bitcoin reached another historic milestone on local exchanges Monday, surpassing the 150 million won ($104,493) mark for the first time. Bitcoin, the world’s largest cryptocurrency, topped its previous all-time peak and soared t...
December 16, 2024
Court seizures of debt-laden real estate mark 11-year high: data

In a sign the local real estate market is in distress, the number of court seizures of property due to debt delinquency has marked the highest figure since 2013, Supreme Court data showed Monday. According to the Internet Registry Office of the Supreme Court, there were 129,703 applications for au...
December 16, 2024
Finance minister's profile rises amid leadership vacuum

Finance Minister and Deputy Prime Minister Choi Sang-mok has vowed all-out efforts to fill the leadership vacuum created by President Yoon Suk Yeol's impeachment.On Sunday, he held an emergency economy-related ministerial meeting, where he said, "Our economy once again faces a critical test," warni...
December 16, 2024
Can W10tr stabilization fund revive Kospi?

While the country's benchmark Kospi remains volatile, hit by the recent political strife sparked by President Yoon Suk Yeol’s martial law fiasco, a stock stabilization fund worth over 10 trillion won ($7 billion) may come to the rescue. In response to the turbulence in the local stock market, fin...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
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