The Korea Herald

Investors accuse Lime, Shinhan, Woori of fraud after hedge fund debacle

Jan 10, 2020

Three individual investors have filed criminal complaints against representatives of Lime Asset Management, Shinhan Investment and Woori Bank, accusing them of fraud and capital market law violations...
KDB, K-Growth to earmark W400b fund for supply chain autonomy

Jan 9, 2020

South Korea‘s state-owned lender Korea Development Bank and state-led fund-of-funds management company Korea Growth Investment (K-Growth) are looking for partners to earmark a combined 400 billion wo...
[News Analysis] Can Delivery Hero-Woowa deal reshape Korea’s food delivery market?

Jan 8, 2020

Antitrust agency’s review of $4b deal likely to redefine boundary of fast-evolving industry
Lime Asset’s fund fiasco weighs on local banks

Jan 7, 2020

Local banks, including Woori and Shinhan, take flak for sales of risky funds
[News Focus] ESG drive of Korean banks in spotlight

Jan 6, 2020

Commitments highlighted for responsible restructuring; critics question nature of ESG initiatives in banking sector saying it doesn’t fit purpose
Korea's FX reserves hit record high in Dec.

Jan 6, 2020

South Korea's foreign exchange reserves climbed to a record high in December on the back of the weakening of the US greenback, which pushed up the dollar value of other foreign currencies held by the...
Major banks up ante for W2tr Prudential Life bid

Jan 5, 2020

Major banking groups in South Korea are revealing their appetite for what could become the largest acquisition deal in the nation’s financial industry this year: a 100 percent stake in Prudential Lif...
Wonik QnC embraces Momentive’s quartz operation for $266m

Jan 3, 2020

South Korea’s fabricated quartz maker Wonik QnC said Friday it had completed an acquisition of quartz and ceramics business units owned by New York-based company Momentive Performance Materials for $...
Time is ticking for KDB to sell life insurance arm

Jan 2, 2020

Shareholders of Seoul-based KDB Life Insurance are under intensifying pressure to find a new owner, potentially facing a host of new complex regulations next month when a 10-year grace period expires...
Seoul City’s Zero Pay app has zero impact

Jan 1, 2020

After its launch in Dec. 2018, Seoul City’s own mobile payment app Zero Pay is now in a very fragile situation and is struggling to make a mark in the local payment industry, data showed on Wednesday...
Sales of private equity funds fall after fiasco: report

Jan 1, 2020

Sales of private equity funds for individual investors dropped for the fifth consecutive month in November, amid growing distrust in the aftermath of damages incurred by risky derivatives-linked fund...
Sungdong Shipbuilding averts liquidation with W200b deal

Dec 31, 2019

A consortium led by HSG Heavy Industries signed a contract Tuesday to buy debt-saddled South Korean shipbuilder Sungdong Shipbuilding & Marine Engineering for 200 billion won ($173 million), allowing...
M&As to keep Korean industries going in 2020

Dec 31, 2019

South Korea was brimming with billiondollar mergers and acquisitions in 2019, mainly propelled by large business groups in search of new growth opportunities, along with the divestment of their nonco...
[Best Brand] Lotte Card launches I’m DRIVING for frequent drivers

Dec 30, 2019

Credit card/ Lotte Card For customers driving long distances, Lotte Card, a major credit card company in the nation, has launched the I’m DRIVING card that offers discounts at gas stations across th...
Woori Financial chief recommended for 2nd term

Dec 30, 2019

Woori Financial Group Chairman and Woori Bank CEO Sohn Tae-seung is likely to pursue a second term as head of the financial holdings company. On Monday, a group of outside directors responsible for ...