The Korea Herald

Banking groups vow to regain customers’ trust in 2020

MarketsJan 2, 2020

With a new year stretching ahead, the chiefs of Korea’s top-tier banking groups underlined the urgent need to restore customers’ trust, defining the latest market situation as a “crisis.” While poin...
BOK chief sees modest economic recovery in 2020

EconomyJan 2, 2020

South Korea's economy is expected to experience a modest recovery this year, helped by the easing of trade tensions between the United States and China and rising global demand, the country's central...
Hyundai Mobis to select outside director for shareholders' rights

EconomyJan 2, 2020

Hyundai Mobis Co., South Korea's biggest auto parts maker and a key affiliate of Hyundai Motor Group, said Thursday it will select an outside director dedicated to enhancing shareholder value. Hyund...
[News Focus] Will S. Korea’s stock market recover vitality in 2020?

MarketsJan 1, 2020

Brokerages say Kospi may rise to 2,450, with possibility of falling below 2,000 due to global trade disputes
Seoul City’s Zero Pay app has zero impact

MoneyJan 1, 2020

After its launch in Dec. 2018, Seoul City’s own mobile payment app Zero Pay is now in a very fragile situation and is struggling to make a mark in the local payment industry, data showed on Wednesday...
Sales of private equity funds fall after fiasco: report

MoneyJan 1, 2020

Sales of private equity funds for individual investors dropped for the fifth consecutive month in November, amid growing distrust in the aftermath of damages incurred by risky derivatives-linked fund...
Credit card use at restaurants declines for first time in 7 years

EconomyJan 1, 2020

South Korea’s credit card spending in restaurants fell 0.3 percent on-year in September 2018, marking the first on-year decline in nearly seven years, data from the Bank of Korea showed Wednesday. T...
Sungdong Shipbuilding averts liquidation with W200b deal

MoneyDec 31, 2019

A consortium led by HSG Heavy Industries signed a contract Tuesday to buy debt-saddled South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering for 200 billion won ($173 million), allowing...
M&As to keep Korean industries going in 2020

MoneyDec 31, 2019

South Korea was brimming with billiondollar mergers and acquisitions in 2019, mainly propelled by large business groups in search of new growth opportunities, along with the divestment of their nonco...
Probable top-down nomination of new IBK CEO triggers backlash

MarketsDec 31, 2019

The state-run Industrial Bank of Korea faced the new year amid heated controversy concerning the likely nomination of a former senior presidential aide as its next CEO. On Tuesday, Reps. Chae Yi-bai...
Financial chiefs look toward new growth momentum in 2020

EconomyDec 31, 2019

Gearing up for the new year, South Korea’s top financial officials steeled themselves to face persistent external challenges and to spark new momentum for growth. Given the current trend toward low ...
Korea's consumer prices rise 0.7% in December

EconomyDec 31, 2019

South Korea's consumer prices rose 0.7 percent on-year in December, marking the fastest growth in six months, the statistics agency said Tuesday. The country's inflation also gained 0.2 percent on-m...
Kospi falls below 2,200, Kosdaq rises near 670 in 2019 finale

MarketsDec 30, 2019

South Korea’s stock market continued its sluggish performance on Monday -- the last trading day of 2019 -- amid a lack of significant momentum. The benchmark Kospi closed at 2,197.67 points, down 0....
[Best Brand] Lotte Card launches I’m DRIVING for frequent drivers

MoneyDec 30, 2019

Credit card/ Lotte Card For customers driving long distances, Lotte Card, a major credit card company in the nation, has launched the I’m DRIVING card that offers discounts at gas stations across th...
Woori Financial chief recommended for 2nd term

MoneyDec 30, 2019

Woori Financial Group Chairman and Woori Bank CEO Sohn Tae-seung is likely to pursue a second term as head of the financial holdings company. On Monday, a group of outside directors responsible for ...