The Korea Herald

Pandemic pushes major banks to offer early retirement

Dec 2, 2020

South Korea’s major banks have been asking employees to accept early retirement to cut costs amid the prolonged coronavirus pandemic, industry sources said Wednesday. More than 1,700 employees at th...
Kakao Bank pre-IPO cost Korea Investment W142b

Dec 2, 2020

Korea Investment & Securities board agreed to pay 142 billion won ($128.9 million) to its wholly owned subsidiary Korea Investment Value Asset Management, as Kakao Bank moves on to raise nearly a com...
Korean Air to sell Incheon yacht marina

Nov 30, 2020

Korean Air Lines is inching closer to selling its yacht marina operation in Incheon to a new Korean buyer for roughly 130 billion won ($117 million). The investor group of Consus Asset Management an...
Percentage of 50,000 won notes returned to central bank falls to all-time low

Nov 30, 2020

South Korea’s central bank said Monday that the percentage of 50,000 won ($45.26) notes returned to the bank plummeted to a record low due to sentiment surrounding the COVID-19 pandemic. The return ...
Correction to the report titled ‘Gen2 Partners fund freeze headache for Korean brokerages, banks’

Nov 30, 2020

In the report titled “Gen2 Partners fund freeze headache for Korean brokerages, banks” dated Aug. 11, 2020, we stated that South Korean financial institutions associated with Hong Kong-based hedge fu...
[Global Finance Awards] Hana Bank leads digital finance ties among global industries

Nov 29, 2020

DIGITAL INNOVATION / HANA BANK
[Global Finance Awards] NH NongHyup takes key role in supporting virus-hit communities

Nov 29, 2020

SOCIAL CONTRIBUTION / NH NONGHYUP BANK
Overdraft accounts surge on fear of stricter lending rules

Nov 29, 2020

The number of South Koreans that flocked to banks to open new overdraft accounts surged in recent days, following the financial authorities’ announcement to tighten lending rules in a bid to curb the...
Federation of Korean banks appoints NH Financial chief as new head

Nov 27, 2020

NH Financial Group Chairman Kim Kwang-soo has officially been tapped to lead the Korea Federation of Banks, a representative body of commercial banks, officials said Friday. The KFB board of directo...
Woori Financial sets up infrastructure fund to promote New Deal project

Nov 25, 2020

Woori Financial Group said Wednesday that it has set up a 200 billion won ($180 million) fund to invest in social infrastructure projects, called the “Woori Global Infra New Deal Fund.” In September...
NH Financial chief set to resign to lead federation of Korean banks

Nov 24, 2020

NH Financial Group Chairman Kim Kwang-soo is likely to offer resignation soon as he was named the sole candidate to represent the nation’s largest bankers’ club, according to reports quoting insiders...
ESR-controlled industrial REIT gears up for W357.3b IPO

Nov 23, 2020

South Korea’s real estate investment trust, indirectly controlled by Hong Kong-listed real estate platform ESR, said Monday that it is gearing up for an initial public offering that will raise 357.3 ...
Bumpy road ahead of KAL-Asiana tie-up

Nov 22, 2020

Controversy escalated Sunday over the proposed business integration plan of South Korea’s two flag carriers -- Korean Air Lines and Asiana Airlines -- as to whether the fundraising plan of Korean Air...
Korea’s sovereign wealth fund joins climate change coalition

Nov 22, 2020

South Korea’s sovereign wealth fund Korea Investment Corp. said Sunday that it was now a member of the One Planet Sovereign Wealth Fund, the world’s largest multilateral working group convened by sov...
S. Korean banks adopt stricter lending rules for overdraft accounts

Nov 20, 2020

South Korean banking groups are set to tighten lending rules for overdraft accounts, lowering borrowing limits amid government efforts to put a brake on the nation’s fast-growing household debt, indu...