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The Korea Herald

Finance

August 11, 2024
Meritz Fire joins protracted race for MG Insurance acquisition

A three-way takeover battle for MG Non-Life Insurance began Thursday, with Meritz Fire & Marine Insurance entering the prolonged race as a new contender. According to local reports, three companies submitted letters of intent to participate in the fourth preliminary bidding for MG Insurance on Thu...
August 08, 2024
Mirae Asset chief honored with AIB award

Mirae Asset Financial Group Chairman Park Hyeon-joo has been recognized by the Academy of International Business for expanding the financial service provider's scope of business on a global level. Park received the International Executive of the Year Award from the AIB on July 3. He was the first ...
August 07, 2024
Eximbank to fund $260m for new airport project in Philippines

The Export-Import Bank of Korea said Wednesday that it will provide a $260 million loan to support the development of a new airport in Dumaguete, Philippines. Yoon Hee-sung, chairman and CEO of Eximbank, met with Ralph G. Recto, the secretary of the Philippine Department of Finance, in Manila on t...
August 06, 2024
World Bank's digital chief vows to close digital divide

World Bank's new Vice President for Digital Transformation Kim Sang-bu outlined his mission to enhance the impact of digital technologies in accelerating development. "Digital technology has become a critical focus as the World Bank advances initiatives aimed at eradicating poverty," Kim said at a...
August 06, 2024
[Exclusive] Thailand’s SCBX reaffirms partnership with Kakao Bank

Thailand’s largest financial group SCBX has reaffirmed its commitment to the digital banking partnership with Kakao Bank despite growing legal risks surrounding Kakao Corp., the controlling shareholder of the Korean internet-only bank. "We do not foresee any changes to our current business relati...
August 05, 2024
SK chief inspects HBM chip production lines

SK Group Chairman Chey Tae-won called for its memory chip-maker SK hynix to seek next-generation profit models to continuously secure its leadership in the burgeoning artificial intelligence semiconductor market. “SK hynix is currently recognized in the high bandwidth memory market, but competiti...
August 05, 2024
Woori returns to investment banking after 10-year hiatus

Woori Investment & Securities, a brokerage house under Woori Financial Group, is poised to bolster its presence in investment banking, backing the potential of its group affiliates. The securities firm, formed through the merger of Woori Investment Bank and Korea Foss Securities, officially launch...
August 05, 2024
[From the Scene] Woori Bank nurtures global talent in Asian push

A total of eight participants — four each from Indonesia and Vietnam — were selected. Of these, four will be chosen for scholarships and offered employment opportunities at the bank's regional offices in their home countries. "Along with their understanding of the Korean language and culture, gl...
August 05, 2024
Authorities to tighten control over financial services by e-commerce

The South Korean government is considering stricter regulations on e-commerce platforms' involvement in financial services, aiming to avert another payment failure crisis amid ongoing investigations into cases involving Tmon and WeMakePrice. According to industry sources, local financial regulator...
August 05, 2024
Shinhan Card launches joint venture with Kazakh autodealer Aster

South Korea's leading card firm, Shinhan Card, has strengthened its foothold in Kazakhstan's auto finance market by establishing a joint venture with the nation's top used-car seller Aster Auto. Shinhan Finance, the Kazakh unit of Shinhan Card, announced on Sunday the launch of this joint venture ...
July 31, 2024
Hanwha Aerospace logs record profit in Q2

Hanwha Aerospace posted record operating profit of 358.8 billion won ($260 million) in the second quarter thanks to arms exports to Poland, the Korean defense firm said Wednesday. According to the company, operating profit surged by 357 percent compared to the second quarter of last year. Hanwha A...
July 31, 2024
Regulators look into shady cash flow within Qoo10

Once a prominent figure in the Korean e-commerce sector, Qoo10 Group's CEO Ku Young-bae is now facing allegations of a Ponzi scheme involving delayed payments amounting to thousands of billions of won for vendors on local online marketplaces Tmon and WeMakePrice. These accusations emerged after Ku...
July 31, 2024
Bankruptcy fears loom large over Tmon, WeMakePrice

Qoo10 CEO Ku Young-bae pledged a "complete recovery of damages" related to the payment delays affecting its struggling e-commerce affiliates, Tmon and WeMakePrice, with government support. Addressing the National Assembly’s Political Affairs Committee on Tuesday, Ku's commitment followed the comp...
July 30, 2024
Toss Securities to launch US subsidiary this year

Toss Securities, a brokerage arm under financial technology giant Viva Republica, announced Tuesday that it plans to establish a subsidiary in the US to explore further business opportunities in the country. The US entity, a 100 percent-owned subsidiary of Toss Securities, will be founded within t...
July 29, 2024
Cash-strapped Tmon, WeMakePrice file for court receivership

He estimated that customer losses from Tmon and WeMakePrice total around 50 billion won, primarily affecting travel-related products. To support refunds and recovery efforts, the cash-strapped company is seeking new funding through Qoo10’s overseas capital and by disposing of or using its assets ...

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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
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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