The Korea Herald

Card firms' 2019 net down 5.3% on increased costs

Mar 30, 2020

South Korean credit card firms saw their combined net profit fall 5.3 percent in 2019 from a year earlier due mainly to increased loan-loss reserves and marketing spending, data showed Monday. The c...
Hanjin KAL’s proxy war to intensify despite activist fund's defeat

Mar 27, 2020

South Korea’s activist private equity fund Korea Corporate Governance Improvement on Friday vowed to restore Hanjin Group “back on track,” signaling its push for activism despite the Friday defeat. ...
Korean firm buys stake in Russian liver cancer therapy developer for $20m

Mar 27, 2020

Seoul-based Thelma Therapeutics said Friday it has closed a deal to buy 27 percent stake in Russian liver cancer therapy developer for 24.3 billion won ($20 million), to tap the overseas health care ...
$Financial watchdog warns Woori, Hana over board infractions$

Financial watchdog warns Woori, Hana over board infractions

Mar 26, 2020

The Financial Supervisory Service on Thursday issued warnings to two major banking groups here -- Woori and Hana -- directing them to improve their overall transparency and corporate governance. The...
[Weekender] How to raise W100m by 30: Millennial investment strategies

Mar 26, 2020

Defying YOLO image, some millennials start investing in their 20s
KB Card to lease Apple products

Mar 26, 2020

Local credit card issuer KB Kookmin Card said Thursday it will launch a new leasing service of Apple devices -- from iPhones to iPads -- starting April. The company will purchase products on behalf ...
BOK to supply dollars next week under swap deal

Mar 25, 2020

The Bank of Korea said Wednesday that it will release its first batch of US dollar reserves in the financial market next week in accordance with a currency swap deal with the US Federal Reserve. “Ne...
Woori Financial chief seals 2nd term despite opposition

Mar 25, 2020

Chairman Sohn earns majority support despite pressure to quit over derivatives fiasco
Net profit of Korean banks' overseas branches edges up in 2019

Mar 25, 2020

Overseas branches of South Korean banks saw their combined net profit edge up 0.4 percent on-year to $988 million in 2019, data showed Wednesday. The figure accounted for 7.9 percent of the combined...
BOK to begin supplying dollars under US currency swap deal next week: official

Mar 25, 2020

South Korea is seeking to begin supplying US dollars under its bilateral currency swap arrangement with the United States next week, a Bank of Korea (BOK) official said Wednesday, a move that is wide...
Forex pressure looms over Korea's outbound investments

Mar 24, 2020

Facing a weakening local currency amid the escalating novel coronavirus crisis, companies are hedging their cross-border investment plans, including mergers and acquisitions, filings showed Tuesday. ...
Standard Chartered Bank Korea donates face masks to virus-hit Daegu hospital

Mar 23, 2020

Standard Chartered Bank Korea, wholly owned by London-based Standard Chartered Bank, donated 5,000 face masks to a hospital in Daegu, which has become the epicenter of the novel coronavirus here sinc...
Shinhan Financial asks unit CEOs to take digital leadership

Mar 23, 2020

Shinhan Financial Group said Monday that it has decided to adopt a new digital leadership system, assigning tasks of fostering different innovative technologies to the executive officers of its subsi...
Hankuk Paper signs W55b deal to acquire local paper maker Seha

Mar 22, 2020

An investor group led by South Korean pulp product manufacturer Hankuk Paper agreed to buy a majority stake in Korea’s third-largest domestic industrial paper maker, Seha, for 55 billion won ($44.2 m...
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...