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Transforming South Korea’s economy into a fairer and more transparent one was what President Moon Jae-in had in mind when entering office in 2017. To soothe the public enraged over high-profile corruption involving the former president, his political archrival Park Geun-hye, Moon and his campai...
Cho Young-eun, a 68-year-old retiree in Seoul, thought she would have a comfortable life in the years ahead. She and her husband had an apartment to live in, and a pension and savings to cover their daily expenses. But her expectations were shattered when she learned about the tax hike on her ho...
South Korea’s National Pension Service has adjusted its rules to raise the strategic asset distribution limit for domestic stock holdings by 1 percentage point, Minister of Health and Welfare Kwon Deok-cheol said on April 9. “The proportion of strategic asset allocation limit for domestic equi...
South Korea’s maximum legal interest rate that private lenders can charge customers will be lowered to 20 percent per annum from July, the nation’s top financial regulator said on March 30. A revised enforcement ordinance to cut the maximum lending rate suggested by the policymaking Financial ...
South Korea’s tax agency said on March 15 that it had caught more than 2,400 individuals who hid assets in virtual currencies to avoid taxation. The National Tax Service collected data from digital currency exchanges and caught 2,416 tax delinquents who had concealed assets through cryptocurren...
South Korea should adopt fractional share investing in order to enhance financial inclusiveness and diversify asset portfolio of small investors still rely heavily on real estates, the head of a local fintech firm suggested on March 4. By allowing investors to buy less than a full share, investo...
South Korea’s state-run lender Korea Development Bank said March 3 that it had agreed on a $126 million commitment to finance an artificial satellite project in Indonesia. KDB is the first Korean lender to finance a space satellite project. The bank’s funding is part of the latest batch of a...
Forty South Korean investors were found to have invested a total of $16.8 billion in securities issued by thermal coal-related companies worldwide as of January, data exclusively obtained by The Korea Herald showed Feb. 25. The figure highlights calls for more aggressive climate action on the pa...
Tension between the nation’s financial regulator and the central bank are escalating over which institution should hold a supervisory authority in the area of online payment settlements emerging as a key financial transaction method in the era of digital economy. Payment settlement is the proces...
The Financial Supervisory Service on Thursday warned retail investors to be cautious of initial public offerings launched by promising but still loss-making companies, stressing that short-term gains may not be achievable. “As the rules allow (loss-making) companies (but with growth potential) t...
South Korean investors holding $550.3 million worth of shares in Chinese drone maker EHang Holdings appear to be left in disarray as the Nasdaq-listed firm’s stock price plummeted on a short seller report on Feb. 16. EHang Holdings was the ninth-largest stock listed on the United States bourse to...
The nickname “ants” has been used to describe South Korean retail investors, as a diligent but minor group seeking profit from the market with little in the way of knowledge or funds. The recent stock craze that pushed up the nation‘s main bourse Kospi, however, shows how those minor players are...
Consumers who order more than 20,000 won ($18.30) on designated delivery apps with a credit card will get 10,000 won as a cash back reward or discount, the government said on Dec. 29. Currently, seven delivery apps including Baedal Minjok, Yogiyo, Payco and Coupang Eats are participating, and four...
An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said on Dec. 9. The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30...
South Korea’s financial behemoth Shinhan Financial Group is slated to gain full ownership of its newly-acquired subsidiary Neoplux -- a former venture capital arm under Doosan Group -- as soon as the two sides complete a small-scale stock exchange at the end of this month, a filing showed on Dec. ...
Woori Bank faces probe again over wire transfers
Burden from investor debt binge drags down Kospi: analyst
Kepco raises electricity rate by 5 won per kWh for Q3
Korea unveils W1tr spending package for AI chip dominance
Bumpy road ahead for wage talks at Hyundai Motor Group
LG Electronics makes foray into EV charging market
Approval of South Korea’s 1st homegrown vaccine likely next week
Posco apologizes for sexual violence in workplace