Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Korea enters full election mode
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Immigrant woman stabbed to death by Korean husband
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[Kim Seong-kon] The April 2024 election will decide our future
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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[Global Finance Awards] ‘Invigorating the economy with creative, innovative financial engineering models’
By Yoo Chang-jo Professor of marketing at Dongguk University The Korea Herald presents the Global Finance Awards upon recognition that, for the Korean economy to grow in this age of cutting-edge technology, it is essential to build a financial ecosystem that meets global standards and raises the competitiveness of the country’s financial industry. The purpose of these awards is to encourage financial institutions that continue to challenge themselves and innovate to provide better financ
Nov. 29, 2022
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[Global Finance Awards] Kyobo Life Insurance tops sustainability ranking for 13 straight years
Kyobo Life Insurance has been continuously incorporating sustainable development concepts into its business strategies and the effort has been acknowledged in an industry-wide index for its socially responsible efforts. The firm topped the 2022 Korean Sustainability Index among local insurance companies on Thursday, marking its 13th consecutive year of securing the top place since 2010. The KSI is a standard for measuring corporate sustainability based on ISO 26000, a global social responsibilit
Nov. 29, 2022
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[Global Finance Awards] SC Bank Korea accelerates sustainable management drive
Standard Chartered Bank Korea has become the only commercial bank in South Korea to receive an A+ rating in corporate governance for four consecutive years, the firm said. The latest A+ rating was given last week by the Korea Institute of Corporate Governance and Sustainability, an expert nonprofit group founded in 2002 that carries out ESG evaluations and policy research. “A healthy corporate governance system is the foundation of what makes sustainable management possible, and it is the
Nov. 29, 2022
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[Global Finance Awards] KB Kookmin Bank increases accessibility for disabled
KB Kookmin Bank has been bolstering the accessibility of its branches for people with disabilities in the first half of 2022, as part of its initiative focusing on diversity and inclusivity. The bank said it surveyed 878 of its branches nationwide in June, measuring each facility’s readiness to greet disabled customers. Based on the survey, the bank installed ramps at the entrances of branches that lacked them. It also put a bell in place that customers could press for assistance, accordin
Nov. 29, 2022
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[Global Finance Awards] Woori Financial Group ready to lead future global financial market
After gaining momentum from structural changes and the privatization process in recent years, Woori Financial Group has been actively making changes to become the global leader of the future financial market. The most evident change was made recently in November when the group launched a new Data Intelligence department with a goal to pursue development in areas of data and artificial intelligence. At the beginning of this year, the group also announced its goal to increase its combined monthly
Nov. 29, 2022
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[Global Finance Awards] Qraft Technologies forays onto Wall Street with AI prowess
South Korean startup Qraft Technologies is one of the companies that has spearheaded the introduction of artificial intelligence in finance here. Since it was founded in 2016, the Seoul-based startup has proved the efficiency of AI when it comes to executing optimal equity asset allocation. The SoftBank-backed company operates four exchange-traded funds -- QRFT, AMOM, NVQ and HDIV. These funds are currently trading on, and have exposure to, North American stock bourses including the New York Sto
Nov. 29, 2022
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[Global Finance Awards] Mirae Asset Securities stands tall against global peers
Mirae Asset Securities became the first in the Korean financial services and investment management industry to post an operating profit of more than 1 trillion won ($754 million) and over 10 trillion won in owned capital last year. It was a dream come true moment for Mirae Asset Group Chairman Park Hyun-joo who said the company will “open an era of 1 trillion won in operating profit and 10 trillion won in owned capital” as it acquired Daewoo Securities in 2016. Having started with a
Nov. 29, 2022
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[Global Finance Awards] Mirae Asset Global Investment solidifies int'l market presence
Marking its 19th anniversary of its overseas business operations this year, Mirae Asset Global Investments has earned many titles as a first mover in the global asset management market. The investment firm kicked off its global business in Dec. 17, 2003, when it established a district office in Hong Kong. This foray came six years after the firm was established. Since then, Mirae Asset Global Investments has come a long way. The company has offices in 36 countries and invested more than half o
Nov. 29, 2022
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[Global Finance Awards] Shinhan aggressively aiming for global growth
Shinhan Financial Group has been actively expanding its global outreach with its overseas operating network that spans over 20 countries. Its overseas business expansion has been carried out under three major principles -- "strengthening overseas capital market in developed markets, promoting gradual economies of scale in nonbanking sectors of developing countries and promoting digital growth of panbanking sectors of developing countries," according to the banking group. Shinhan first
Nov. 29, 2022
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[Global Finance Awards] Woori Card takes deeper tap into Asian market with new subsidiary
Seeking to expand its overseas business portfolio, Woori Card kicked off its global subsidiary Woori Finance Indonesia Tbk, in Jakarta, Indonesia, this month. The subsidiary is the credit card provider’s second global endeavor, following the launch of Tutu Finance-WCI Myanmar in 2016. The card company started negotiations with Indonesian finance firm PT Batavia Prosperindo Finance Tbk in 2019 which led to the signing of a share purchase agreement with its major shareholders in March. It
Nov. 29, 2022
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Seoul shares gain as China lockdown woes ease; Fed rate views at focus
South Korean stocks snapped a two-session losing streak to close higher Tuesday, as worries about China's strict COVID-19 lockdown policy eased with growing expectations for an eventual reopening. The local currency rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index climbed 25.12 points, or 1.04 percent, to close at 2,433.39. Trading volume was moderate at 522.6 million shares worth 6.35 trillion won ($4.79 billion) with advancing issues outstripping decline
Nov. 29, 2022
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Seoul shares open almost flat on China woes, Fed's rate remarks
South Korean stocks turned a tad higher after a weak start Tuesday, amid concerns over China's strict COVID-19 lockdowns and hawkish remarks by US Federal Reserve policymakers on rate policy outlooks. After starting lower, the benchmark Korea Composite Stock Price Index rose 0.95 points, or 0.04 percent, to 2,409.22 in the first 15 minutes of trading. Protests across China against the government's aggressive COVID-19 lockdowns have sparked worries over the world's second-largest e
Nov. 29, 2022
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S. Korea signals delays to crypto income tax
Financial authorities on Monday maintained their position on imposing an income tax on cryptocurrency trading from 2025, delaying the initial plan of levying a 20 percent tax starting next year. According to the Ministry of Economy and Finance, it submitted a bill to lawmakers to push back the new taxation law from 2023 to 2025. Before the end of the year, the bill has to be passed by the National Assembly for the current taxation plan to be postponed. Under the current taxation law, anyone who
Nov. 28, 2022
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Seoul shares sink amid China uncertainties
South Korean stocks closed more than 1 percent lower Monday, as investor sentiment remained wary amid the extended COVID-19 restrictions in China that have stoked concerns over global supply disruptions. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index retreated 29.59 points, or 1.21 percent, to 2,408.27. Trading volume was moderate at 343.2 million shares worth 6.36 trillion won ($4.74 billion) with decliners far outnumbering gainers 703 to
Nov. 28, 2022
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S. Korea seeks to change dividend-linked rules to attract more foreign investment to stock market
South Korea will push to change regulations in a way that would allow investors to know how much they would receive in dividends before buying stocks in a bid to attract more foreign investment in the local equity market, a senior official of the country's top financial regulator said Monday. Under the current rules, listed companies determine who will receive dividends in late December first before setting the amount in March and then pay out dividends to investors in April the following y
Nov. 28, 2022
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Seoul shares open lower on China uncertainties
South Korean stocks started off lower Monday, as the continued COVID-19 lockdowns and unrest at an iPhone factory in China weighed on big tech stocks. The benchmark Korea Composite Stock Price Index fell 30.16 points, or 1.24 percent, to 2,407.70 in the first 15 minutes of trading. The US tech-rich Nasdaq ended lower Friday, with Apple Inc. dipping 2 percent, after media reports it would see a cut in iPhone shipments due to a workers' protest at a main factory in China run by Foxconn. Beiji
Nov. 28, 2022
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Possible Wemix delisting prompts jitters in crypto market
South Korea’s top five crypto exchanges' decision to delist the token issued by Wemade’s blockchain platform has sent another shock wave through the digital currency market here that is still reeling from the earlier terraUSD-luna crash. The Digital Asset Exchange Alliance (DAXA) comprising Bithumb, Upbit, Coinone, Korbit and Gopax announced Thursday they would halt trading of Wemix tokens on their platforms from Dec. 8. DAXA cited that the gaming giant’s blockchain platform
Nov. 27, 2022
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Seoul stocks end lower on lingering recession woes
Seoul stocks closed slightly down Friday as traders took a wait-and-see stance amid persistent uncertainties over monetary tightening and the global economic outlook. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 3.47 points, or 0.14 percent, to close at 2,437.86. Trading volume was light at 430.8 million shares worth 5.98 trillion won ($4.51 billion), with gainers slightly outnumbering losers 445 to 398. Foreign and institutional investors bough
Nov. 25, 2022
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Seoul shares open lower amid lingering recession concerns
Seoul shares opened lower Friday, as traders took a wait-and-see stance amid persistent uncertainties over monetary tightening and global economic outlook. The benchmark Korea Composite Stock Price Index shed 6.5 points, or 0.27 percent, to 2,434.83 as of 9:15 a.m. While traders are increasingly looking to less aggressive rate hikes by the US Federal Reserve as inflation data shows signs of slowing, upward momentum in global stock markets is lacking. China's worsening COVID-19 situation is
Nov. 25, 2022
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Seoul shares open higher ahead of BOK rate decision
Seoul shares opened higher Thursday as investors await a rate hike decision by the Bank of Korea later in the day. The benchmark Korea Composite Stock Price Index had added 18.14 points, or 0.75 percent, to 2,436.15 as of 9:15 a.m. The central bank is widely expected to raise its policy rate by 25 basis points to 3.25 percent, slowing its tightening pace as the economy shows signs of losing momentum. Overnight, US stocks finished higher, buoyed by a dovish stance by US Federal Reserve officials
Nov. 24, 2022