The Korea Herald

Coupang founder divests $42m stake after NYSE debut

Mar 16, 2021

Coupang founder Kim Bom-suk has divested his stake in the South Korean e-commerce giant worth $42 million, a filing showed Tuesday. According to the disclosure, Kim converted his Class B stocks into...
Residents' foreign currency deposits rise in February

Mar 16, 2021

Foreign currency deposits at banks in South Korea rose in February, mainly due to a gain in corporate holdings of US dollar deposits, central bank data showed Tuesday. Outstanding foreign currency-d...
Creditor slams SsangYong's passive stance on HAAH deal

Mar 15, 2021

The Korea Development Bank, a major creditor of debt-saddled SsangYong Motor, said Monday that the commercial vehicle maker and its labor union had been “uncooperative” when dealing with the proposed...
Woori to compensate victims of Lime misselling

Mar 15, 2021

South Korea’s Woori Bank on Monday has decided to heed to the financial watchdog’s recommendation to compensate to end-investors who dealt with heavy losses due to the lender’s selling of funds tied ...
Schroders Korea raises W100b for global sustainable growth fund

Mar 15, 2021

Schroders Korea said Monday it had pooled over 100 billion won ($88 million) from South Korean end-investors earlier this month through its fund product that is designed to hold a portfolio of its fl...
[Newsmaker] Investors flock to unicorns after Coupang's IPO jackpot

Mar 14, 2021

The race to bid for unlisted companies‘ next initial public offering bonanza among South Korean investors is intensifying, data showed Sunday, as the recent high-profile deals including Coupang’s $4....
Lotte Card launches new financial services

Mar 11, 2021

Credit card firm Lotte Card said on Thursday that it has launched LOCA MONEY, a group of financial services covering short-term and long-term loans and “over-the-limit,” credit card services. The co...
BlackRock increases 1% stake in KB Financial

Mar 10, 2021

US investor BlackRock said Wednesday it has increased its stake in South Korea‘s largest banking group KB Financial Group to 6.02 percent, from 5.01 percent in May 2014. According to the disclosure,...
[Top Bankers] Head of bankers’ club in South Korea calls for stricter regulation on big tech

Mar 10, 2021

Former NH Financial chief say banks still have upper hands in credibility, security of financial services amidst intensifying digital war
Hana Financial declares carbon neutrality vision

Mar 10, 2021

Hana Financial Group on Wednesday unveiled its vision to go carbon neutral by 2050 to support the nation’s transition toward a sustainable economy. Under the goal of achieving “coal-free finance,” t...
NPS to remain neutral over embroiled Posco chief’s second term

Mar 10, 2021

The National Pension Service said Wednesday it would engage in voting for Posco Chairman and CEO Choi Jeong-woo’s new term as a Posco board member in a way that does not affect the result of the shar...
FSC extends eased liquidity rules for banks amid pandemic

Mar 9, 2021

South Korea’s financial regulator said Tuesday it has decided to further ease local lenders’ obligations to pile up liquid assets until September, in a move to encourage them to prop up the real econ...
Korea's final coal power project faces renewed scrutiny

Mar 9, 2021

South Korea’s last coal power project in Gangwon Province is facing renewed scrutiny as civic activists called for a state audit against Korean financial institutions for allegedly overlooking and co...
Bond issuance soars in Feb.

Mar 9, 2021

Bond issuance in South Korea rose by more than 11 trillion won in February from the previous month due mainly to increased state and corporate debt sales, industry data showed Tuesday. The value of ...
Korean golf courses pricier than ever for investors

Mar 7, 2021

South Korea‘s golf courses are carrying heftier price tags as investment destinations than ever, and their transactions are becoming more and more active, as the coronavirus pandemic since last year ...