Most Popular
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[AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Yoon seeks rebound, taps 5-term lawmaker as chief of staff
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Medical standoff deepens as doctors reject new med school plan, talks
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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[Herald Interview] Why Toss invited hackers to penetrate its system
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S. Korean envoys convene to navigate strategy amid Middle East tensions
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North Korea fires several short-range ballistic missiles into sea: JCS
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Samsung, SK hynix investors dump shares on Nvidia crash
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[News Focus] Moon reiterates financial reform drive with FSS chief nomination
Even after the two previous leaders’ terms ended amid disputes, the next candidate tapped as chief of the financial market watchdog is, again, another reformative nonbureaucrat, reflecting the administration’s determination for financial reform.President Moon Jae-in on Friday approved Yoon Suk-heun as the new governor of the Financial Supervisory Service. Yoon is a visiting professor of business administration at Seoul National University and chairman of the FSC’s Financial Adm
May 4, 2018
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[Newsmaker] Another reformative FSS nomination highlights pledge on financial reform
Even after the two previous leaders’ terms ended amid disputes, the next candidate tapped as chief of the financial market watchdog is, again, another reformative nonbureaucrat, reflecting the administration’s determination for financial reform.The Financial Services Commission said Friday that it had nominated Yoon Suk-heun as the new governor of the Financial Supervisory Service. He is a visiting professor of business administration at Seoul National University and chairman of the
May 4, 2018
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Inter-Korean thaw strengthens Korean won
The local currency strengthened against the greenback for two consecutive trading days until Monday on heightening expectations of a thaw in inter-Korean relations after a summit between North and South Korea. As of the trading session’s close Monday, the US dollar was trading at 1,068 won, according to the Seoul Money Brokerage. The market closed Tuesday due to the Labor Day holiday. The won-dollar exchange rate dropped 12.9 won from Thursday’s close and 8.6 won from Friday’s
May 1, 2018
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[Herald Interview] Blockstream CSO urges crypto caution
Overly-hyped sentiments have begun to give way to skepticism toward a flurry of promises made by founders of distributed ledger systems like blockchain and the digital currencies encrypted and traded on them.Fanning such cynicism was the global race to place cryptocurrency transactions into regulatory frameworks to deter speculation and prevent crimes like money laundering. Such moves have resulted in noticeable declines in prices of cryptocurrencies.The volatility in the cryptocurrency market o
April 30, 2018
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Mirae Asset‘s target date fund tops yearly returns
Mirae Asset Global Investments, South Korea’s asset management firm, had its target date fund product rank No. 1 in terms of yearly return on the Korean market. A TDF refers to a collective investment scheme in the form of a mutual fund or collective trust fund, whose asset allocation mix of the portfolio becomes conservative -- largely from equities to bonds -- in the coming of an individual investor‘s target date, typically for retirement. The scheme was introduced in the early 199
April 29, 2018
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Korean startup to develop blockchain-powered solution for SMEs with Upbit operator
Korea Credit Data, a South Korean startup providing accounting software to small and mid-sized companies, will embark on a project to develop a blockchain-powered solution for SMEs, the company said Friday. Dunamu, operator of Korea‘s largest cryptocurrency exchange Upbit, will coordinate with KCD to develop the blockchain solution to lower procurement cost and help SME operators get easier access to structured securities.The project will be on the back of investment from Dunamu &
April 27, 2018
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Stocks end higher on historical summit
South Korea’s stock markets ended higher Friday in the wake of a historic inter-Korean summit that signaled the path to denuclearization of the Korean Peninsula. The top-tier Kospi closed at 2,492.40, up 0.7 percent from Thursday’s close, while the second-tier Kosdaq came to 886.49, up 0.8 percent. Earlier Friday morning, the Kospi had breached the 2,500 mark, hitting an intraday high of 2,508.13 for the first time in over a month.The Kospi and the Kosdaq saw net purchases by foreign
April 27, 2018
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Historical summit highlights stocks related to inter-Korean businesses
With drummed up expectations for a more stable Korean Peninsula upon the inter-Korean summit on Friday, stocks of South Korean firms related to cross-border businesses have seen sharp gains.The firms are associated with the inter-Korean business initiative pledged by South Korean President Moon Jae-in. Named “New Economic Map of the Korean Peninsula,” it contains plans to jointly develop areas across the peninsula, including Kumgangsan, Kaesong industrial park and the Korean De
April 26, 2018
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Korea M&A Center launches protection service for ICO investors
The Korea M&A Center said Thursday it has launched a patented financial service aimed to protect investors of initial coin offerings.The system named “ESC Lock” combines the escrow system used in financial markets such as e-commerce, together with ICOs, to create a model that “locks” the investments of investors and the cryptocurrency issued by ICO companies, the center explained.Recently in Vietnam, the largest ICO scam in history was recorded as some 32,000 investor
April 26, 2018
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SC Bank Korea’s airline card rewards users with bonus flight to SE Asia
Standard Chartered Bank Korea’s newly-released airline miles credit card with efficient options that can reward a user free flight tickets to destinations like Southeast Asian nations, in return for spending at least 2 million won ($1,900) each month for a year.Launched in March, the new credit card dubbed “Plus Mile” offers at most bonus 3.5 miles to fly Asiana Airlines or bonus 3 miles with Korean Air, both per 1,000 won spending. This means those spending 2 million won
April 24, 2018
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[Photo News] AIA Group head meets FSC Chairman
AIA GROUP HEAD MEETS FSC CHAIRMAN -- Visiting AIA Group Chief Executive Ng Keng Hooi (left) and South Korea‘s Financial Services Commission Chairman Choi Jong-ku hold a meeting at the FSC headquarters in Seoul on Monday. The two discussed current issues regarding the life insurance industry in Korea, according to AIA Korea. (AIA Korea)
April 23, 2018
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Komsco to hold global forum on future of mints industry
South Korea will bring together the world’s 46 manufacturers of coins, medals and banknotes this week to discuss the future of the minting industry amid the emergence of new technologies across the globe. The state-run coin and bank note manufacturer, Korea Minting and Security Printing & ID Card Operating Corp. (Komsco), will host the biannual Mint Directors Conference from Monday to Thursday, the organizers said Sunday. The upcoming event will mark the 30th of its kind and the second
April 22, 2018
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Seoul stocks open lower on foreign selling
South Korean stocks opened lower Friday on foreign selling, tracking overnight losses on Wall Street.The benchmark Korea Composite Stock Price Index shed 9.5 points, or 0.38 percent, to 2,476.6 in the first 15 minutes of trading. The decline followed overnight losses in the US market due to concerns over faster inflation growth and losses in tech shares.The Dow Jones industrial average retreated 0.34 percent, and the tech-heavy NASDAQ composite index skidded 0.78 percent. Big-cap shar
April 20, 2018
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Finance minister to attend G-20 finance ministers meeting this week
SEJONG -- South Korea's finance minister will attend the upcoming Group of 20 meeting later this week to discuss current global financial and economic issues, the finance ministry said Wednesday.Finance Minister Kim Dong-yeon will head to Washington, DC on Thursday for the G-20 Finance Ministers and Central Bank Governors meeting that runs from Thursday to Friday (local time), according to the ministry.He will also participate in the International Monetary and Financial Committee conference to e
April 18, 2018
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Korean commerce minister makes first trip to US
The South Korean commerce minister on Wednesday embarked on a weeklong trip to the United States to meet American policymakers and business leaders as part of efforts to expand economic ties between the two nations, his office said.Paik Un-gyu, minister of trade, industry and energy, made his first trip to the US since taking office last year after the two nations agreed in principle on key issues to fix their six-year-old trade deal. The agreement came against the backdrop of negotiations to ge
April 18, 2018
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IMF maintains 3% growth forecast for S. Korea
The International Monetary Fund said Tuesday that it will maintain its earlier 3-percent growth forecast for South Korea this year.The IMF adjusted up the country's gross domestic product growth in January, with the revision in line with Seoul's growth outlook for 2018. The government here said it expects Asia's fourth-largest economy to advance 3 percent in 2018.The IMF also said the country's economy could grow by 2.9 percent in 2019, the same expansion as forecast earlier.South Korea's econom
April 17, 2018
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Financial reform loses momentum on FSS leadership void
Recent political rows surrounding the chiefs of the Financial Supervisory Service are expected to put the brakes on the Moon Jae-in administration’s ambitious financial reform drive, while leaving the financial regulator struggling in a leadership void. Speculations, meanwhile, quickly spread Tuesday after the resignation of former lawmaker and civic activist Kim Ki-sik, on who would be the next candidate, and whether Cheong Wa Dae would still take a chance with a non-bureaucrat. Kim offer
April 17, 2018
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Feud-ridden FSS chief offers to resign
The Financial Supervisory Service Gov. Kim Ki-sik on Monday offered to resign, shortly after the election watchdog concluded that his past behavior as a lawmaker violated laws."I have offered my resignation (to the presidential office)," the FSS quoted Kim as saying.The National Election Commission, after an hours-long meeting, said that Kim's donation of 50 million won ($46,577) to a group of former and incumbent lawmakers of his home Democratic Party breached the Publi
April 16, 2018
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FTC increases punitive actions against anti-trust violations
The Fair Trade Commission took more punitive actions against anti-trust law violators in 2017 over the previous year, its data showed Monday.The data, submitted to ruling party legislator Park Yong-jin, indicated that the commission received 3,037 petitions last year and took administrative action on 2,877 of them. The corporate watchdog has six different levels of punitive measures, ranging between warning at the lowest level and punitive penalty fees and referral to the prosecution at the two
April 16, 2018
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Foreigners turn to net buyers of S. Korean stocks in March
Foreign investors turned to net buyers of South Korean stocks last month, data showed Monday.Offshore investors bought a net 123 billion won ($114.95 million) worth of local stocks in March, compared with net selling of 3.96 trillion won a month earlier, according to data by the Financial Supervisory Service. They were net sellers in the main KOSPI market by offloading around 200 billion won, but their purchase of shares on the secondary KOSDAQ market offset the sell-off on the main bourse, the
April 16, 2018