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The Korea Herald

Finance

March 26, 2024
Korean banks up ante in Poland amid heightened ties

South Korean banks are poised to bolster their presence in Poland, anticipating a surge in demand for financial assistance as the two nations deepen their strategic alliances and economic ties. On Tuesday, KB Kookmin Bank, one of the country's leading lenders, announced a partnership with Poland's...
March 26, 2024
Banks compete for foreign customers

Recognizing the expansion of the foreign population in Korea, banks are striving to improve access for foreign residents here by providing customized services from the point of arrival to departure. As Foreign nationals are expected to take up a more significant portion of Korea’s demographics am...
March 26, 2024
Hana Bank, GMO-PG to simplify Korea-Japan business payments

Hana Bank said Tuesday it signed a partnership deal with Japan’s largest payment processing company, GMO Payment Gateway, to launch a cross-border payment and settlement system for domestic companies expanding into Japan. Under the partnership, Hana and GMO will collaborate in providing a wide ra...
March 25, 2024
Eximbank to form W1tr fund for chips, battery

The Export-Import Bank of Korea, or Eximbank, announced it will form a 1 trillion won ($745 million) fund to support businesses in high-tech strategic industries, especially semiconductors and batteries. The policy lender will put in 150 billion won toward the fund which will close out at 1 trilli...
March 25, 2024
IBK to roll out W100b fund for digital tech

The Industrial Bank of Korea on Monday announced the establishment of a strategic investment fund worth 100 billion won ($75 million) to nurture businesses with innovative digital technologies. The fund will be pooled by the policy lender and its affiliate IBK Capital, with each investing 90 billi...
March 25, 2024
KB Financial Group names first woman board chair

KB Financial Group picked banking expert Kwon Seon-joo as its board chair, making her the first woman to serve in the role. The decision was approved at a board meeting on Friday. With over 30 years of experience in the financial industry, Kwon served as the CEO of the Industrial Bank of Korea fr...
March 22, 2024
Woori Bank first to start ELS compensation

South Korean banks are beginning compensation measures for losses stemming from the misselling of equity-linked securities tied to Hong Kong's Hang Seng China Enterprises Index, with the sector's smallest seller, Woori, leading the initiative. Woori Bank officially announced Friday it would begin ...
March 21, 2024
Korea sighs in relief on US Fed's dovish signal

While the possibility of the US Federal Reserve cutting its base rate three times this year has sent Seoul shares higher, the Bank of Korea is likely to start bringing down its key rate in July, experts viewed. Through a two-day Federal Open Market Committee meeting, the US Fed maintained its benc...
March 20, 2024
Japan's historic rate pivot won't roil Korea: experts

The Bank of Japan's first interest rate hike in almost two decades has rattled the global economy, yet it may not have as much of an impact in South Korea, at least not for a while. The central bank of Japan on Tuesday announced it is lifting its short-term policy rate to a range of 0 to 0.1 perce...
March 20, 2024
Hana pledges W30b for emergency child care

Hana Financial Group announced Wednesday the introduction of its 365 Day Hana Child Care initiative, aiming to tackle South Korea’s declining birth rate by offering reliable back-up child care options. An inauguration ceremony took place at a child care center in Nowon-gu, northern Seoul, on Tues...
March 19, 2024
[KH Explains] Will Kakao Bank secure footing in untapped Thai market?

Thailand has long remained an untapped market for South Korean financial firms since the exodus of the financial crisis in the late 1990s. Now Kakao Bank, the nation’s No. 1 Internet-only bank, is eyeing an expansion into the burgeoning digital banking market in Southeast Asia's second-largest eco...
March 19, 2024
Korea pledges W452tr in climate finance until 2030

The South Korean government and local banks on Tuesday pledged to jointly invest 452 trillion won ($337.4 billion) until 2030 to tackle the climate crisis. The move aligns with the country's intensified efforts to achieve carbon neutrality by 2050 and bolster domestic firms' competitive edge in ov...
March 18, 2024
Finance stocks rally despite ELS woes

Despite internal setbacks, South Korean finance giants are forging ahead with a robust rally in the local stock market, as several companies reach historic highs. The share prices of KB Financial Co. and Hana Financial Co., two of the nation's biggest finance holding firms, soared to unprecedented...
March 15, 2024
Container shipping costs of EU-S. Korea route up 40 pct amid Red Sea crisis

Container shipping costs from Europe to South Korea soared nearly 40 percent in February amid continued tensions surrounding the Red Sea, data showed Friday. The average shipping cost for a 40-foot container for the route jumped 38.7 percent on-month to 1.24 million won ($934.16) last month, accor...
March 14, 2024
BOK warns hasty policy pivot amid inflation woes

South Korea's central bank said Thursday it will maintain its current restrictive policy stance as any hasty rate policy change may undermine market confidence and further raise already high household debt. In its latest monetary policy report, the Bank of Korea (BOK) said the country's inflation ...

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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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