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The Korea Herald

Finance

March 14, 2024
Regulator revises stewardship code for institutional investors to join corporate value-up scheme

The financial regulator said Thursday it revised a stewardship code for institutional investors to encourage them to join a corporate value-up scheme. The revised code urges institutional investors to "check to make sure the companies they invest in establish and implement long-term strategies to ...
March 13, 2024
DGB opens fund management unit in Singapore

DGB Financial Group said Wednesday it launched its first overseas subsidiary Hi Asset Management Asia, an asset management arm, in Singapore. DGB Financial Group Chairman Kim Tae-oh, Korean Ambassador to Singapore Hong Jin-wook as well as financial firm officials from Morgan Stanley, Goldman Sachs...
March 13, 2024
Gov't expands low-interest loans for small businesses

The low-interest rate program for low-income earners and small businesses will be expanded to provide benefits to more people and businesses, the financial regulator said Wednesday. The program, launched September 2022, currently provides low-interest loans to those who had taken out loans prior t...
March 11, 2024
HK-tied ELS sellers may face full compensation claims for losses

With losses from equity-linked securities tied to a Hong Kong index expected to reach almost 6 trillion won ($4.57 billion) this year, South Korean financial regulators announced Monday that sellers may face full compensation for the loss. The announcement follows the Financial Supervisory Service...
March 08, 2024
S&P cuts outlook on Mirae Asset Securities, Korea Investment & Securities

S&P Global Ratings on Thursday lowered the outlook for two major Korean asset management firms, Mirae Asset Securities and Korea Investment & Securities, from "stable" to "negative." The agency kept their long-term issuer credit ratings at BBB and short-term ratings at A-2. The negative outlook r...
March 08, 2024
Moody's turns negative on Korean banks' ratings outlook

Ratings agency Moody's downgraded the outlook on the South Korean banks' credit rating to "negative" from "stable" Thursday, predicting their asset quality and profitability will weaken. The agency released a report on the Korean banking system and lowered the credit ratings outlook of 19 South Ko...
March 08, 2024
Finance chiefs of S. Korea, Vietnam discuss cooperation

South Korean Finance Minister Choi Sang-mok held talks with his Vietnamese counterpart Friday and asked the Southeast Asian government to further improve the business environment to seek closer ties. Choi met his Vietnamese counterpart, Ho Duc Phoc, in Seoul to discuss ways to further bolster bila...
March 07, 2024
Woori revamps private banking service

Currently, the bank employs approximately 640 private banking specialists dedicated to selling products for private banking and investment. Additionally, the bank is implementing a more intricate self-inspection process for customers before purchasing high-risk products. Following contract signing...
March 07, 2024
Finance minister stresses banks' role in FX market reform

Finance Minister Choi Sang-mok on Thursday asked for major banks' role and support for the successful reform of the foreign exchange market, the finance ministry said. Choi made the request during a meeting with the chiefs of KB Kookmin Bank, the state-run Korea Development Bank, Shinhan Bank, Woo...
March 06, 2024
NH Bank cracks down on W11b internal failure

A NongHyup Bank employee is being investigated by local police for possible embezzlement reaching nearly 11 billion won ($8.2 million), the bank disclosed on Wednesday. The bank's internal investigation revealed a financial irregularity that could extend up to 10.95 billion won, which is the total...
March 04, 2024
[From the Scene] Staying 'senior-friendly': Next normal of banking

The rise of such specialized offices follows warnings from local financial authorities regarding a significant reduction in branch numbers. According to data from the Financial Supervisory Service, the top four commercial banks -- KB Kookmin, Shinhan, Hana and Woori -- operated 2,824 offline branch...
March 04, 2024
Hana Bank upgrades digital certificates for foreign users

Hana Bank, a leading commercial bank in South Korea, unveiled Monday the latest upgrade to its tailored banking app for foreign exchanges, Hana EZ, with a focus on delivering an enriched and user-friendly mobile banking experience for foreign residents in the country. A key improvement lies in the...
March 04, 2024
Finance giants boost female board numbers amid government initiative

Major Korean financial groups are intensifying efforts to broaden and diversify their boards in response to a governmental drive for inclusivity within the sector. Woori Financial Group is appointing two new female members to its outside board of directors for the first time in its history. Lee Eu...
March 04, 2024
Korean crypto exchanges ride on bitcoin rally

Local crypto exchanges are enjoying a boom in their returns amid the snowballing bitcoin rally. Upbit, the largest crypto exchange here, saw its transaction volume in the past 24 hours surpass 12 trillion won ($8.9 billion) as of Thursday at 3 p.m. It was the first time for the figure to go over 1...
February 29, 2024
Bitcoin soars to record high in Korea

The price of bitcoin traded in Korea climbed to its highest ever Thursday, fueled by a global rally initiated from spot exchange-traded funds and an impending halving. Bitcoin, the world’s biggest cryptocurrency, traded in Korea went above 88 million won ($66,000) at around 2 a.m. on Thursday, a ...

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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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