The Korea Herald

Seoul stocks to continue rise on earnings hope next week

MarketsApr 17, 2021

South Korean stocks are likely to maintain their upward momentum next week as expectations of estimate-beating first-quarter corporate earnings run high, although investors may be attempted to cash i...
[Exclusive] Korea stops financing infra projects in Myanmar amid deepening crisis

EconomyApr 16, 2021

Responding to the prolonged crisis in Myanmar, the South Korean government has decided to halt financing for government infrastructure projects there until next year, a source told The Korea Herald o...
Seoul stocks up for 5th session on economic rebound hope

MarketsApr 16, 2021

South Korean shares advanced for the fifth day Friday, finishing just shy of the 3,200-point mark, as expectations of a global economic rebound and sound corporate earnings boosted investor sentiment...
Financial authorities vow to minimize inconveniences from Citigroup’s exit from S. Korea

MoneyApr 16, 2021

Second-tier banks in South Korea likely to bid for Citibank Korea‘s retail biz, according to industry sources
Dongbu-led consortium to take over Hanjin Heavy as debt restructuring nears end

MoneyApr 16, 2021

An investor group led by South Korean builder Dongbu Corp. signed a deal to acquire a controlling stake in debt-saddled shipbuilder Hanjin Heavy Industries & Construction, filings showed Friday. Acc...
Mirae Asset’s Canadian subsidiary rolls out Bitcoin futures ETF

MarketsApr 16, 2021

South Korean asset management firm Mirae Asset Global Investments has launched two exchange-traded funds tracking the value of Bitcoin futures via its Canadian subsidiary Horizons ETFs. Along with t...
Construction workers’ fund to commit W60b to PEs, VCs

MoneyApr 16, 2021

South Korean institutional investor, the Construction Workers Mutual Aid Association, has selected four domestic external partners for its 60 billion-won ($53.7 million) commitment to have exposure t...
Citibank Korea union head says preparation for legal action on the way

MarketsApr 16, 2021

Unionized workers at Citibank Korea voiced criticism against Citibank Korea’s decision to withdraw its retail banking operations, calling it unilateral. “(Citibank Korea’s labor union) can‘t accept ...
Slump in domestic demand eases amid pandemic: finance ministry

EconomyApr 16, 2021

The South Korean economy is on a recovery track as exports remain robust and a slump in domestic demand has gradually eased amid the pandemic, the finance ministry said Friday. In its monthly econom...
Seoul stocks open higher on Wall Street rally

MarketsApr 16, 2021

South Korean shares opened higher Friday, taking a cue from an overnight rally on Wall Street over strong signals of economic rebound. The benchmark Korea Composite Stock Price Index (Kospi) rose 7....
[Newsmaker] Cryptocurrency turnover in S. Korea doubles over past month

MarketsApr 16, 2021

The cryptocurrency turnover in South Korea has more than doubled over the past month, a market tracker said Friday, as retail investors scramble to the virtual currency amid the fallout of the corona...
Citibank to pull retail biz out of Korea, but no timeline set

MoneyApr 15, 2021

Citibank Korea, the South Korean unit of Citigroup, said Thursday that it would withdraw its retail business as part of its parent company’s reorganization plans for Asia. The decision was made to...
Kakao at No. 6 on Kospi in market cap after stock split

MarketsApr 15, 2021

South Korea’s top mobile messenger operator, Kakao, replaced Samsung Biologics as the No. 6 company on the Kospi in terms of market capitalization Thursday, a day after its stock split. Shares of Ka...
Seoul stocks up for 4th day on economic recovery hope

MarketsApr 15, 2021

South Korean stocks finished higher to extend their gains to a fifth session Thursday amid expectations that the economic recovery would be quicker and stronger than expected. The Korean won fell aga...
[News Focus] Gangnam housing prices back on the rise

EconomyApr 15, 2021

10% growth seen in some locations in 5 months