The Korea Herald

S. Korea’s debt grows at fastest pace in 2019: BIS data

Jun 21, 2020

The level of household debt in Asia’s fourth-largest economy rose at the fastest pace among major economies in 2019, data showed Sunday. According to the data from the Bank for International Settlem...
[News Focus] N. Korea’s liaison office demolition dampens cross-border projects of banks

Jun 21, 2020

Despite escalating hostility, Seoul’s financial groups still hold onto a glimmer of hope
Hyundai Capital issues green bonds worth $316m

Jun 18, 2020

South Korean auto financing firm Hyundai Capital said Thursday that it has issued three-year Swiss franc-denominated green bonds worth 300 million francs ($316 million). The bonds are being issued b...
KDB refuses to back SsangYong Motor with bailout fund

Jun 17, 2020

Korea Development Bank, South Korea’s policy lender, on Wednesday refused to support the liquidity-stricken SsangYong Motor using its bailout fund of 40 trillion won ($32.95 billion) created to exten...
Mr. Pizza to invite bids for controlling stake

Jun 17, 2020

MP Group, the South Korean company that controls pizza restaurant franchise Mr. Pizza and coffee chain Manoffin, is seeking to sell a controlling stake through an open bidding process, its announceme...
Interest rates fall to near zero for 6 in 10 savings accounts

Jun 17, 2020

Six out of 10 accounts offered at commercial banks in South Korea offer near-zero interest rates on their deposits following the central bank’s key rate cut in May. According to data released Wednes...
Hyundai Card, Starbucks launch private label credit card

Jun 16, 2020

Hyundai Card said Tuesday it has forged a partnership with Starbucks Korea to launch a private label credit card in the second half of this year. The local credit card issuer will be in charge of ma...
SK Biopharmaceuticals eyes W960b blockbuster IPO in July

Jun 15, 2020

CEO says its market debut unscathed by coronavirus; parent SK Holdings’ shares surge 9 percent
Commercial banks slash savings, checking account yields to near 0%

Jun 14, 2020

Korean commercial banks had cut their yields on savings and checking accounts to near zero as of Sunday, in line with the central bank’s move to slash its policy rate to a record low of 0.5 percent l...
[Exclusive] WeWork Korea offers voluntary retirement to employees

Jun 11, 2020

Shared working space operator WeWork’s Korean subsidiary has offered its employees a voluntary retirement last week as part of its restructuring plan, sources with knowledge about the matter told The...
Asset management firms’ profits halve in Q1

Jun 11, 2020

South Korea’s asset management companies’ combined net profit has shrunk by over half on-year in the first quarter, data showed Thursday. The net income of 300 AMCs here came to 116.4 billion won ($...
Stock recovery puts Woori privatization plans back on track

Jun 10, 2020

Woori Financial Group’s privatization plan, which has been stalled due to the novel coronavirus outbreak here coupled with its plunge in stock price, is likely to move forward again, on account of it...
Samsung Asset creates feeder fund to invest in Man AHL’s signature fund

Jun 10, 2020

Samsung Asset Management said Wednesday it has launched a fund to pool South Korean retail investor’s money into a signature fund by London-based quantitative hedge fund manager Man AHL. By investin...
[Economy in Pandemic] S. Korean banks face fierce ASEAN market competition in post-virus era

Jun 9, 2020

Despite pandemic impact, ASEAN countries remains lucrative for local lenders
Banks' average capital adequacy ratio down in Q1

Jun 8, 2020

South Korean banks saw their average capital adequacy ratio fall slightly in the first quarter from the previous quarter, data showed Monday. The average capital adequacy ratio of 19 commercial and ...