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The Korea Herald

Finance

November 21, 2024
Main opposition pushes to ease, not postpone, tax on crypto gains

The main opposition Democratic Party of Korea is planning to pass a bill that raises the threshold for a planned tax on virtual asset-related gains, up to 50 million won ($35,800) from the previously planned 2.5 million won, sources said Thursday. The original scheme for crypto tax gains would hav...
November 15, 2024
Toss posts record revenue in Q3, led by brokerage biz

Viva Republica, the operator of mobile financial service Toss, posted record-high revenue in the July-September period, gaining traction for a potential US listing. According to the company on Thursday, its third-quarter revenue soared 47.5 percent to 502.1 billion won ($356 million) from a year a...
November 08, 2024
Mirae Asset Securities Q3 earnings more than double

Mirae Asset Securities, a leading brokerage house in Seoul, reported robust earnings in the third quarter, largely buoyed by the strong performance of overseas units. In its earnings report on Thursday, the brokerage firm said its operating profit more than doubled to 370 billion won ($265 million...
November 05, 2024
Hanwha chief touts bigger global footing of asset management unit

Hanwha Group Chairman Kim Seung-youn on Tuesday visited Hanwha Asset Management to praise the asset management unit's recent progress in its ongoing efforts for global expansion. He was accompanied by Kim Dong-won, president and chief global officer at Hanwha Life Insurance, and Hanwha Asset Manag...
November 03, 2024
Hana opens 100th child care center

Hana Financial Group said Sunday that it has launched the 100th child care center in Bonghwa-gun, North Gyeongsang Province, as part of its 150 billion won ($108.6 billion) project aiming at addressing the nation’s chronically low birth rate. The Korean financial giant launched the project in 201...
November 01, 2024
Financial watchdog puts brakes on Korea Zinc’s W2.5tr capital increase

Korea Zinc’s decision to execute a 2.5 trillion won ($1.8 billion) paid-in capital increase has come under the scrutiny of financial authorities. The country’s financial watchdog views there could be a possibility of unfair practice in a potential overlap in the period. “The Financial Superviso...
October 25, 2024
Korea to regulate cross-border trading of crypto

The Korean government is to tighten the monitoring of cross-border trading of virtual assets, including cryptocurrency, through a revised law set for enactment by the latter half of 2025. "The government will push for the revision of the Foreign Exchange Transactions Act related to virtual assets ...
October 23, 2024
[Contribution] SGATAR in Seoul: NTS driving cooperation in tax administration

By Choi Jae-bong Vice Commissioner of National Tax Service Nestled in the southeastern corner of France lies the small sovereign state of Monaco, a tranquil city-state renowned for actress Grace Kelly and Formula 1 racing. However, in 1962, this peaceful city-state found itself at the center of a...
October 20, 2024
[Exclusive] Iranian bank may consider closing Korea branch: source

Bank Mellat, a private bank based in Iran, may have to consider pulling its operations out of South Korea with its hands tied here due to the looming fears of secondary boycott actions from the US authorities. “With the upcoming US presidential election, the pressure on Iran will only escalate. B...
October 20, 2024
KB Kookmin Bank adds two new branches in India

KB Kookmin Bank said on Sunday that services will begin on Monday at its new branches in Chennai and Pune as the Korean bank seeks to expand its footing in the Indian market. Chennai, the largest city in southern India, serves as a major commercial and manufacturing hub, while Pune, in India’s we...
October 17, 2024
Shinhan partners with China's BoCom on QR payment service

Shinhan Financial Group announced Thursday it has signed a memorandum of understanding with China's Bank of Communications to enable its SOL Travel Card users to make payments using QR codes in China. The Bank of Communications, one of China’s five state-owned commercial banks, ranked ninth in Th...
October 17, 2024
Hyundai Card to supply AI solutions to Japan’s Sumitomo Mitsui

Hyundai Card announced Thursday that it has secured a global deal to sell its self-developed artificial intelligence software. The Korean card issuer signed an agreement to sell its AI software, known as Universe, to Japan's Sumitomo Mitsui Card Co., marking the first AI software export deal by a ...
September 26, 2024
Financial firms turn to carbon trading for growth, ESG goals

The local carbon trading market is set for a boost early next year, with an influx of financial firms joining as players and securities firms expanding their roles as transaction brokers. Effective Feb. 7, 2025, the government has amended the Enforcement Decree on the Allocation and Trading of Gre...
September 25, 2024
[Contribution] Ignore market noise, boost your investment returns

By Steve Brice August started off poorly for investors. Peak to trough, global equities fell 9.2 percent, with the losses accelerating in the first three days of August when they lost 6.4 percent. While equity markets have recouped almost all the early-August losses, the earlier sell-off is natura...
September 24, 2024
SC Bank launches new high-interest savings account

Standard Chartered Bank Korea said Tuesday that it launched a new savings account offering eligible customers a special annual interest rate of up to 4 percent. The name of the product, Hi account, reflects both a greeting to new customers and the promise of a high interest rate. The account adds ...

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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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