Park calls for development of carbon industry

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Largest Korean-American bank to come to S. Korea

BBCN Bank, the largest Korean-American bank that has mostly focused on ethnic Korean customers in the United States, said Monday it is set to start business here to support Korean companies entering the U.S.    "BBCN Bank plans to officially open its Seoul office in November and prepar...

Updated : 2014.11.24 15:49

Tax agency launches probe into medicine rebates

Major South Korean pharmaceutical companies may soon face a heavy penalty, with the Seoul Regional Tax Office investigating into charges of their tax evasion using illegal sales practices, according to industry sources. Seoul’s tax probe came after the National Tax Service found out irreg...

Updated : 2014.11.23 21:13

[Herald Interview] Korean rich should pay more tax: ADB

An economist from the Asia Development Bank urged Korea to consider levying more taxes on the rich to create a more balanced wealth distribution. “Korea, which was considered a success story in gener...

Updated : 2014.11.23 21:13

Banks’ overseas earnings jump 32.1% in H1

South Korean banks saw their combined net profit from overseas operations jump 32.1 percent in the first six months of the year from a year earlier due mainly to a drop in bad debt expenses and a rise in interest income, the financial watchdog said Sunday.Earnings by 156 overseas units and...

Updated : 2014.11.23 21:11

Seoul stocks likely to creep up on signs of global economic recovery

South Korean stocks are predicted to pull off modest gains this week as the global economy, led by the United States, may grow steadily at least until early 2015, analysts said Saturday.The benchmark Korea Composite Stock Price Index finished at 1,964.84 last Friday, up 1.01 percent, or 19...

Updated : 2014.11.23 21:11

S. Korean banks' overseas earnings jump 32.1 pct in H1

South Korean banks saw their combined net profit from overseas operations jump 32.1 percent in the first six months of the year from a year earlier due mainly to a drop in bad debt expenses and a rise in interest income, the financial watchdog said Sunday.Earnings by 156 overseas units and...

Updated : 2014.11.23 15:42

KB Financial chief set on LIG takeover

KB Financial’s new chief Yoon Jong-kyoo wasted no time in voicing his determination to take over LIG Insurance. “(The takeover of LIG Insurance) is an indispensable part of our plans for creating sy...

Updated : 2014.11.21 21:31

Seoul shares buoyed by U.S. data, institutional buying

South Korean stocks rebounded Friday after backtracking for two sessions, buoyed by encouraging economic data from the United States and net buying by foreign investors and institutions. The local currency rose against the U.S. dollar. Starting the day in positive territory, the benchmark ...

Updated : 2014.11.21 21:29

Audi Korea issues voluntary recall campaign

Audi Korea has issued a voluntary recall campaign for more than 9,000 of its 2013-2015 model A4 and S4 vehicles for faulty frontal airbags, the carmaker said Friday.The recall models are the A4 2.0 TDI (8,055 units), A4 2.0 TFSI (977 units) and S4 3.0 TFSI (59 units) that were manufactured...

Updated : 2014.11.21 21:28

Korean won rebounds from 15-month trough

South Korea’s currency rebounded from a 15-month low on Friday, snapping a three-day losing streak as it paralleled the Japanese yen’s ascent to the greenback.The Korean won closed at 1,113.80 per U.S. dollar, up 1.3 won from the previous session’s close, after rising as high as to 1,10...

Updated : 2014.11.21 21:28

OB welcomes Brazilian beer expert as new CEO

Frederico Freire, the new CEO of Oriental Brewery. (OB)South Korea’s top beer company, Oriental Brewery, said Thursday that it had appointed Frederico Freire, vice president of Anheuser-Busch InBev A...

Updated : 2014.11.20 21:21

Banks pay nearly W3tr in dividends to foreign investors

South Korean banks’ dividend payouts to foreign shareholders have reached nearly 3 trillion won ($2.7 billion) in the past four years, accounting for 10 percent of their net income, industry data showed Thursday.A total of 4.5 trillion won was paid out as dividend to their stakeholders by...

Updated : 2014.11.20 21:21

Financial tech market hindered by regulations

As shown by Apple Pay, Ali Pay and Bank Wallet Kakao, the mobile payment market is one of the very few sectors that is continuing to achieve a fast and steady growth ― a phenomenon that has led to the coining of the term “fintech,” a combination of “finance” and “technology.” Howeve...

Updated : 2014.11.20 21:15

MSCI adds Samsung SDS to emerging market index

Global index provider MSCI has added Samsung SDS Co., a key IT unit of Samsung Group, and three other Korean stocks to its emerging market index in its latest quarterly review, which will take effect later this month, according to its website Wednesday.The U.S.-based provider of investment...

Updated : 2014.11.19 21:11

Finance minister sees recovery in housing market

South Korea's property market is recovering from a long slump with home transactions picking up recently, the finance minister said Wednesday, rebuffing media reports that the market conditions remain harsh for many people."Thanks to the government's policy support, the volume of home tran...

Updated : 2014.11.19 10:00