The Korea Herald

Citibank Korea to decide on exit plan next week

Aug 17, 2021

Citibank Korea Inc., the South Korean unit of Citigroup Inc., will decide on its exit plan for its retail banking unit next week, an industry source said Tuesday. Citibank Korea will hold a board me...
[Newsmaker] Blame game intensifies over Mergepoint fiasco

Aug 16, 2021

The blame game between financial authorities and discount app operator Mergeplus intensified Monday, leaving customers who bought coupons uncertain as to whether they would lose their money. Mergepl...
NH NongHyup Bank sets up London branch

Aug 12, 2021

NH NongHyup Bank said Thursday it has launched a branch office in London to make inroads into the UK’s banking industry, as part of the lender’s overseas business strategies aimed at expanding its gl...
Banks' H1 net jumps 59% on KDB's one-off gains

Aug 11, 2021

South Korean banks saw their first-half earnings jump 59 percent from a year earlier due largely to a one-off gain by state policy lender Korea Development Bank (KDB), data showed Wednesday. The com...
Banks' household loans jump in July

Aug 11, 2021

South Korean banks' household loans jumped in July, fueled by demand for home-backed lending and overdrafts for stock investments, central bank data showed Wednesday. Outstanding bank loans to local...
Netmarble cashes in W430b upon KakaoBank listing

Aug 11, 2021

South Korea‘s gaming giant Netmarble has divested a 1.3 percent stake in KakaoBank to cash in 430.2 billion won ($372.8 million), a filing showed Wednesday. The disclosure came on the heels of the m...
FSC chief urges banking group heads to strengthen household debt control

Aug 10, 2021

Financial Services Commission Chairman Eun Sung-soo on Tuesday called on the heads of five major banking groups here to ramp up efforts to curb snowballing household debt. “A steep increase in house...
KTB commits W550b to US real estate debt strategies

Aug 10, 2021

KTB Asset Management has closed a 550 billion won ($478.8 million) commitment to Bridge Debt Strategies Fund IV, a pooled investment vehicle mainly targeting securitized multifamily residential housi...
Edison to drum up private equity capital for SsangYong bid

Aug 9, 2021

Electric bus maker weighs acquisition of Mahindra & Mahindra‘s financially-pinched Korean arm to seek electric vehicle transition
Citibank Korea to manage $2b syndicated bonds for Hyundai E&C consortium’s Panama metro project

Aug 9, 2021

Citibank Korea said Monday it had become the sole coordinator for a consortium led by Hyundai Engineering & Construction in dealing with syndicated bonds worth a total $2 billion to build a metro lin...
MBK Chairman to donate W30b to build public library in Seoul

Aug 8, 2021

Seoul-based private equity house MBK Partners founder and chairman Michael Byung-ju Kim has pledged to donate 30 billion won ($26.5 million) to the Seoul Metropolitan Government to build a public lib...
Invesco’s blockchain ETF sheds W10b stake in Nexon GT as NXC founder resigns

Aug 8, 2021

An exchange-traded fund managed by US-based Invesco Investment Management sold 2.4 percent in Nexon GT just a day after its founder Kim Jung-ju stepped down from the top post of gaming giant Nexon’s ...
Political figures cleared in hedge fund scandal

Aug 8, 2021

South Korean political figures were cleared of any involvement in the nation’s high-profile 1.6 trillion won ($1.4 billion) hedge fund fraud, which centers on the effectively defunct private equity f...
Hana Bank launches metaverse task force

Aug 6, 2021

South Korea’s Hana Bank said Friday it has launched a special task force to foster businesses and attract younger customers in the virtual metaverse. Hana’s decision comes as local commercial banks ...
Insurance companies roll out products targeting young Koreans

Aug 5, 2021

Insurance companies, typically some of the most conservative firms in finance, are rolling out subscription services and setting reasonable payment terms to meet the needs of young Koreans in a bid t...