The Korea Herald

Shinhan Investment CEO steps down over Lime scandal, derivatives misselling

Mar 20, 2020

Shinhan Investment CEO Kim Byung-cheol resigned on Friday, taking responsibility for the brokerage’s role as a key sales channel for now-frozen Lime Asset funds and derivatives that caused huge losse...
Bidding war for Prudential Life intensifies amid coronavirus risks

Mar 19, 2020

An intense bidding war for the takeover of Prudential Life Insurance of Korea, valued at some 2 trillion won ($1.6 billion), kicked off early Thursday as major banking groups and private equity house...
NPS to vote against chiefs of Shinhan, Woori, Hyosung

Mar 19, 2020

The National Pension Service, South Korea’s public pension fund, said Thursday it would disapprove of the chiefs of Shinhan Financial Group, Woori Financial Group and Hyosung as board directors in th...
[Exclusive] Foreign residents still locked out of online banks

Mar 19, 2020

Despite FSC’s recent guidelines, major operators bar them
Banking groups under profit pressure by rate cut

Mar 18, 2020

South Korea’s major banking groups are operating under emergency systems to deal with impact by the central bank’s record-low key rate on the financial and forex markets. The current 0.75 percent in...
NongHyup Financial nominates VP as new CEO for bank unit

Mar 17, 2020

NongHyup Financial Group’s committee for nominating executive members announced Tuesday that it has recommended incumbent Vice President Son Byung-hwan as the sole candidate for the new CEO post of i...
Foreign investors beef up shareholder activism with legal clarity

Mar 16, 2020

South Korea introduced a law in February to support a new form of activism by “general” equity investors, enabling minority shareholders to have a say in corporate decisions. The revision of the Cap...
Bandi & Luni’s bookstore chain up for sale

Mar 16, 2020

The owners of the Seoul Book Center -- operator of South Korea’s third-largest bookstore chain, Bandi & Luni’s -- are looking to put their stake in the company up for sale through deal manager eBest ...
Shinhan Bank’s call center workers start remote working

Mar 15, 2020

Shinhan Bank said Sunday that its call center employees will start remote working as part of its preventive measures against the spread of the new coronavirus. A total of 150 call center employees w...
Bank deposits surge amid market volatility fears

Mar 15, 2020

South Korean banks are seeing a surge in deposits, reflecting investors’ concerns amid growing uncertainties in the capital market, according to latest data Sunday. Nearly 36 trillion won ($30 billi...
[Herald Interview] ‘Korea’s impact investors should seek cross-border deals’

Mar 15, 2020

Head of Asia’s largest deal-sharing pool talks about Korea’s potential to rise as powerhouse
Busan-based VC to control mask inventory app operator Carelabs

Mar 13, 2020

Busan-based venture capital Maple Investment Partners has been selected as the preferred bidder to become the largest stakeholder of Carelabs, a South Korean company listed on the development stock b...
Citibank, JP Morgan and two others fined W1.3b for fixing prices of forex derivatives

Mar 11, 2020

South Korea’s antitrust watchdog said Wednesday that it had fined four foreign banks a total of 1.3 billion won ($1.1 million) for fixing the prices of foreign exchange derivatives and manipulating t...
Banking groups to hold shareholders meetings despite coronavirus scare

Mar 11, 2020

Even though the novel coronavirus outbreak is increasing “social distancing,” local banking groups are set to hold shareholders meetings as scheduled, but are also considering complementary measures ...
Heung-A Shipping to undergo KDB-led debt restructuring

Mar 11, 2020

South Korea’s No. 5 shipping firm Heung-A Shipping is planning a corporate workout program as its maritime cargo operations have faltered, with snowballing debt, a regulatory filing showed Wednesday....