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[Editorial] Time for self-reflection
[J. Bradford DeLong] Utopia or bust -- the politics of economic governance
[Song Young-gil] There is no Planet B!
[From the Scene] Police clashes, political drama at memorial for Seoul crowd crush victims
Hyundai gains momentum with high-performance cars
[Photo News] NFT art in Times Square
Former journalist appointed as Yoon’s new spokesperson after 5-month vacancy
KT&G aims big for overseas expansion
Will BTS make history with its first win at 65th Grammy Awards?
New EU rules picked No. 1 ESG concern this year
[Newsmaker] US downs Chinese balloon, drawing a threat from China
LG unveils net-zero goals in first group-wide report
'Energy inflation' hits 25-year high in January
[Herald Interview] Samsung bets big on cameras to fight Apple
S. Korea, US vow action on N. Korea amid push for new ties
3 rescued, 9 missing after boat capsizes off South Jeolla
S. Korea's new COVID-19 cases below 15,000 for 3rd day
Families of crowd crush victims hold memorial rally in downtown Seoul
[Seoul Subway Stories] Dongnimmun Station, where memories of heroes are commemorated
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Finance
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Money
Citibank Korea to arrange syndicated loan for Posco's lithium salt lake project
Feb 3, 2023
Citibank Korea announced Friday that it signed a syndicated loan agreement with Posco Argentina to support the development of a salt lake with lithium reserves for Posco Holdings. As a joint mandated lead arranger, Citibank arranged a $412 million (505.4 billion won) syndicated loan for Posco Argentina with support from Korea Trade Insurance Corp. The agreement was reached on Jan. 25. “This deal is meaningful as it provides financing support for enhancing Korean companies’ competitiv
Tax revenue up 15% in 2022
Jan 30, 2023
South Korea's tax revenue rose 51.9 trillion won ($42 billion) in 2022 from a year earlier on the back of an increased collection of corporate income taxes, coupled with revitalized consumption, the finance ministry said Monday. The government collected 395.9 trillion won in taxes last year, up 15.1 percent from the 344.1 trillion won tallied in 2021, according to the Ministry of Economy and Finance. In 2020, the tax revenue fell by 7.9 trillion won due to the fallout of the COVID-19 pandem
Mirae Asset Global Investments tops TDF market share
Jan 25, 2023
Mirae Asset Global Investments has gobbled up nearly half of target-date fund market share, recording 3.5 trillion won ($2.84 billion) under management as of the end of 2022. TDF refers to an investment scheme where a portfolio’s asset allocation mix automatically rebalances throughout an account holder’s lifecycle to make it less prone to volatility as the target date draws near. Analysts attributed Mirae Asset's top position to the group's chairman, Park Hyun-joo, who has
Mirae Asset buoyed by upbeat overseas earnings
Jan 19, 2023
Marking 20th year of global business, investment firm outpaces crosstown rivals in overseas profits
[Newsmaker] After 'giant' interest rate hikes, are savers better off?
Jan 11, 2023
Tough conditions mean high interest rates advertised for savings accounts are often a mirage
Banking groups under pressure to boost dividend payouts
Jan 10, 2023
Activist fund declares proxy fight against 7 local lenders, calls for them to raise dividend ratio to some 50%
South Korea's foreign reserves expand in December on dollar's descent
Jan 4, 2023
South Korea's foreign reserves continued to expand for the second straight month in December as the weakening dollar resulted in a rise in the converted value of holdings denominated in other currencies, central bank data showed Wednesday. The country's foreign reserves came to $423.16 billion as of end-December, up $7.06 billion from the previous month, according to the data provided by the Bank of Korea. The increase came as the dollar-converted value of other currency-based assets i
Invisible finance is ultimate goal for Shinhan Bank: new CEO
Dec 30, 2022
The new CEO of Shinhan Bank, one of South Korea's top four lenders by net profit, vowed to put customer-centric service and digital innovation first during his tenure. “Shinhan will manage its soundness through precise data analysis and protect customer value through timely support measures,” said Han Yong-gu, former deputy president in charge of sales management at the lender, who was inaugurated as CEO on Friday. Offering supportive measures for vulnerable debtors such as ow
Where do the superrich keep their money?
Dec 25, 2022
KB's exclusive banking branch lures superwealthy parents who want a smooth transition of assets to their children
NongHyup Financial Group taps CEOs for affiliates
Dec 22, 2022
NongHyup Financial Group announced their affiliate CEO candidates, including NongHyup Bank, Thursday. The candidates were selected through a recommendation committee meeting held earlier in the day. The group has tapped Lee Seok-yong, a senior official in charge of planning and coordination at the National Agricultural Cooperative Federation, as NongHyup Bank CEO. NongHyup Bank is an affiliate of the National Agricultural Cooperative Federation. Lee joined the company in 1991 and has since been
Toss Securities joins hands with Hana Bank for 24-hour forex trading service
Dec 16, 2022
Hana Bank on Thursday signed a memorandum of understanding with Toss Securities, the brokerage arm of fintech company Viva Republica, to jointly provide around-the-clock service for foreign exchange trading. “Through continuous cooperation with various financial companies like Toss Securities, we will create a new trend in the foreign exchange market,” Hana Bank official Namgoong One said in a statement. According to Hana Bank on Friday, the bank will mainly provide exchange rate i
Hana Financial taps CEO candidates
Dec 14, 2022
Lee Seung-lyul from now-defunct Korea Exchange Bank appointed as Hana Bank CEO candidate
Firms with more foreign shareholders more transparent
Dec 13, 2022
Companies with higher involvement of foreigners and small investors are more likely to release more detailed corporate governance reports, demonstrating more transparency, the Korea Exchange said Tuesday. The Korea Exchange, the nation's sole bourse operator, released an analysis on the corporate governance reports of companies listed on the local stock market. As companies with assets between 1 trillion and 2 trillion won ($767 million to $1.53 billion) were required to release corporate
Nearly 70,000 under 30s subject to gift tax
Dec 12, 2022
More than 70,000 people under the age of 30 are obliged to pay a gift tax for receiving assets in 2021, marking a two-fold increase from the year before, data showed Monday. According to Rep. Jin Sun-mee from the Democratic Party of Korea, 70,115 people under 30 are obliged to pay a gift tax for receiving land, properties or securities in 2021. Jin is a member of the Strategy & Finance Committee at the National Assembly and the data was provided by the National Tax Service. Jin argued the fi
Jin Ok-dong tapped as chairman candidate for Shinhan Financial
Dec 8, 2022
Shinhan Bank President Jin Ok-dong, 61, has been appointed as the final candidate for the new chairman of Shinhan Financial Group, South Korea's No. 2 bank by total assets, Thursday. The group said that nonexecutive directors of the group unanimously voted for Jin at a candidate recommendation meeting held at the firm's headquarters in central Seoul. Other candidates were Shinhan Financial Group Chairman Cho Yong-byoung and Shinhan Card CEO Lim Young-jin. Though it was rumored that cur
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Will BTS make history with its first win at 65th Grammy Awards?
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'Energy inflation' hits 25-year high in January
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92 people evacuated as fire breaks out in public bathhouse
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3 rescued, 9 missing after boat capsizes off South Jeolla
[Newsmaker] US downs Chinese balloon, drawing a threat from China
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