The Korea Herald

[Top Bankers] What South Korea’s longest-serving bank chief faces in 2021

Mar 21, 2021

Kim Jung-tai tasked with smooth succession, digitalization, overseas expansion in his final year at Hana
New dividend payout rule to take center stage at banks’ shareholders meetings

Mar 19, 2021

New dividend payout programs are set to take center stage at shareholders meetings next week as banking giants seek to appease shareholders amid growing discontent over new regulations that limit the...
NPS denies rumors of adjusting targets of domestic equity allocation

Mar 19, 2021

South Korea’s largest public pension body, the National Pension Service, on Friday denied local news reports that it was considering reweighting its investment portfolio and raising its domestic stoc...
KCGI in predicament as hostile takeover bid for KAL fizzles out

Mar 18, 2021

KCGI’s history of shareholder activism dates back to late 2018. KCGI first emerged as a blockholder of Hanjin KAL in November 2018. The PEF disclosed that it had a 9 percent stake in the company and...
Decisions loom for Woori, Shinhan executives over Lime fiasco

Mar 18, 2021

The country’s two major lenders Shinhan Bank and Woori Bank have come under scrutiny again over their sale of unsound products of scandal-ridden Lime Asset Management after being called to a financia...
Local private equity firm to inject W80b in T'way Air

Mar 17, 2021

South Korea’s private equity firm JKL Partners is poised to inject 80 billion won ($70.7 million) in Korean low-cost air carrier T‘way Air in April, a filing showed Wednesday. JKL Partners was offer...
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