Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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US will take steps for three-way engagement on nuclear deterrence with S. Korea, Japan: Campbell
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Monthly users on local streaming platforms outpace Netflix, Disney+
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NewJeans fans send protest truck against agency chief in conflict with Hybe
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Seoul to promote luxurious side of the city
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[Herald Interview] Korean investment ‘positive catalyst’ to Mongolian stock market: MSE chief
The Mongolian Stock Exchange chief hailed South Korean financial companies’ engagement with its fledging stock market as a “positive catalyst” in its search for increased attention from foreign investors. Speaking in an interview with The Korea Herald, Altai Khangai, chief executive officer of the MSE, cited the initial public offering of LendMN, Mongolia’s first financial technology company that began trading in March, as well as another upcoming IPO involving Korean inv
May 7, 2018
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Financial regulator to begin review of Samsung Biologics' alleged accounting fraud
South Korea's financial regulator said Sunday its accounting oversight panel will hold the first meeting on Samsung Biologics Co.'s alleged violation of accounting rules next week.The Accounting Oversight Deliberation Committee under the Securities & Futures Commission will hold the meeting on May 17 and review the issue, according to the Financial Service Commission. The SFC, a subcommission of the financial regulator, is responsible for the oversight of the securities and futures markets.L
May 6, 2018
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Individual investors flock to Samsung Electronics after stock split
The transaction volume of Samsung Electronics Co. among retail investors jumped nearly six times as the tech giant's stock split lowered the entry bar, the bourse operator said Sunday.The amount of Samsung Electronics shares traded by individual investors on Friday -- after a three-day hiatus to lower its face value from 5,000 won ($4.64) to 100 won -- came to 1.17 trillion won, up from a daily average of 205 billion won before the split, according to the Korea Exchange (KRX).Transactions made b
May 6, 2018
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BOK chief says Korea-Japan talks for currency swap deal could resume soon
South Korea will push to revive a currency swap deal with Japan that was suspended over diplomatic feuds, Bank of Korea Gov. Lee Ju-yeol has said.During a news conference on the sidelines of a regional forum in Manila on Friday, Lee expressed expectations that the two sides will start negotiations in the near future.In January last year, the Tokyo government broke off the negotiations with Seoul to reopen the currency swap agreement, citing Seoul's move to let a statue symbolizing the victims of
May 6, 2018
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Seoul shares set to move in tight range next week
South Korean shares are expected to move in a tight range next week due to a possible US rate hike next month and the ongoing trade dispute between Washington and Beijing, analysts here said Saturday.Market watchers forecast the benchmark Korea Composite Stock Price Index (KOSPI) to trade between 2,459 and 2,530 in the coming week after shedding 1.2 percent this week to close at 2,461.38 on Friday."Investors will likely adopt a wait-and-see attitude as the US Federal Reserve is set to raise
May 5, 2018
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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