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Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November...
South Korea's exports increased for seven straight months, jumping 13.8 percent in April on strong chip demand and record-high automobile sales. Exports to the US, in particular, reached an all-time high, further widening the gap with China, the country's second-largest export destination. Outbou...
More than 250 startup companies have joined KB Financial Group’s accelerator program over the past 10 years to scale up businesses into unicorns in the fintech industry. KB Financial Group held an event on Tuesday marking the 10th anniversary of the KB Innovation HUB Center, the first organizatio...
Korean banking groups maintained solid capital adequacy despite significant payouts for consumer compensation due to misselling equity-linked securities tracking a Hong Kong index. Industry sources reported that the average capital adequacy ratio, or Common Equity Tier 1, among five major Korean f...
The Ministry of Agriculture, Food and Rural Affairs on Tuesday launched a special commission dedicated to ending dog meat consumption in the country by 2027. Earlier on Jan. 22, the ministry had introduced a task force to iron out the details of implementing a government plan to end the practice, ...
Korean banks may face diminishing profitability due to mounting pressure to take on social responsibilities amid the country's slowing economic growth, a senior official at global credit appraiser Fitch Ratings said. Commercial banks, often criticized for making money from excessively high interes...
MBK Partners Chairman Michael ByungJu Kim has recently donated $25 million to his undergraduate alma mater, Haverford College, according to the asset manager's announcement on Monday. The $25 million donation, the largest amount in the school's history, was made on April 23. It will fund the estab...
The competition to acquire Lotte Insurance, South Korea's seventh-largest nonlife insurer, is intensifying, with Woori Financial Group recently joining the race. Woori Financial Group's Chief Financial Official Lee Sung-wook stated Friday that the company is reviewing the acquisition of the insure...
Korea’s top finance firms -- KB, Shinhan, Hana, Woori and NongHhyup -- have set aside a total of nearly 1.7 trillion won ($1.2 billion) in reserve for the compensation of losses related to the misselling of equity-linked securities products tracking the Hang Seng China Enterprises Index in Hong Ko...
The report also highlights that the total assets of wealthy individuals shrunk from an average of 7 billion won to 6 billion won during the COVID-19 pandemic, primarily due to falling real estate and stock prices. As of the end of last year, real estate accounted for 50 percent of the wealthy's to...
South Korea’s economy expanded at the fastest clip in more than two years in the first quarter as private spending and exports picked up, the central bank said Thursday. The country's real gross domestic product grew 1.3 percent on-quarter in the January-March period, accelerating from a 0.6 perc...
The state-run Export-Import Bank of Korea said Thursday that it planned to dispatch 34 young regional specialists to 13 developing countries under its Economic Development Cooperation Fund, aimed at cultivating a new generation of experts in global development cooperation. As a member of the OECD ...
South Korea's investment in the US increased about 1.8 times last year compared to the pre-COVID-19 period as major conglomerates set up large-scale facilities in the eastern part of the country, a report from a business lobby group showed Wednesday. According to the report published by the Korea ...
Hyundai Mobis, the auto parts manufacturer under Hyundai Motor Group, said Wednesday it held a ground-breaking ceremony for its first factory in Western Europe, which will manufacture battery systems, particularly focusing on supplying the Volkswagen Group. The new factory in Navarre, Spain, will ...
The Korea International Trade Association is ramping up its efforts to support the overseas expansion of local mobility companies in the Gwangju area. On Tuesday, the state-run trade agency's regional headquarters for Gwangju and South Jeolla Province announced that it had signed a memorandum of u...
S. Korea leads world in industrial robot adoption: study
Doosan’s restructuring plan clears regulatory hurdle, awaits shareholder approval
Woori Bank CEO to step down amid legal turmoil over loan scandal
Purme Foundation honored with HD Hyundai charity award
Hyundai Motor’s Genesis US push challenged by Trump’s tariff hike: sources
Daewoo E&C chair honored in India for boosting bilateral economic ties