The Korea Herald

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...
KDB says PEF-led injunction could halt KAL-Asiana merger

Nov 19, 2020

Top officials of the state-run lender Korea Development Bank said Thursday that the proposed merger of South Korea’s two flag carriers, Korean Air Lines and Asiana Airlines -- largely orchestrated by...
Bitcoin price hits almost 3-year high as investors seek low-risk assets

Nov 18, 2020

The price of largest cryptocurrency Bitcoin reached a recent high dating back nearly three years, rising more than 4 percent within 24 hours amid investors’ rising demand for safe investments, digita...
Kakao Bank to raise W250b from Anchor Equity Partners

Nov 17, 2020

South Korea’s mobile-only commercial lender Kakao Bank said Tuesday that it plans to raise 250 billion won ($226 million) from Hong Kong-based private equity firm Anchor Equity Partners. Under the p...
KFCC boosts global ties amid COVID-19 pandemic

Nov 17, 2020

The Korean Federation of Community Credit Cooperatives, the nation’s leading financial cooperative, has been strengthening global cooperation with its foreign counterparts in the midst of the COVID-1...
Pelicana-backed PEF to close W20b deal to acquire Mr. Pizza

Nov 17, 2020

South Korea’s private equity fund backed by fried chicken franchise Pelicana Chicken is on the verge of closing a 20 billion won ($18.1 million) acquisition deal to become the biggest shareholder of ...
Korean flag carriers eye tie-up as policy lender backs W1.8tr deal

Nov 16, 2020

Korea Development Bank to inject W800b into megadeal to help Korean Air acquire Asiana
S. Korea to cut maximum legal lending rate to 20% next year

Nov 16, 2020

South Korea’s government and the ruling Democratic Party of Korea have decided to lower the maximum legal lending rate to 20 percent from the current 24 percent starting next year to ease financial b...
Korean institutional investors turn to fast-growing private debt market

Nov 15, 2020

Investors say COVID-19 has helped them develop an eye for distressed assets, suitable partners
Incumbent KB Kookmin Bank CEO to serve third term

Nov 12, 2020

Hur Yin, KB Kookmin Bank’ incumbent CEO, was officially tapped by board members to lead the lender for another year, the bank said Thursday. Earlier in October, KB Financial Group’s committee for CE...
At least W436b to evaporate from Optimus hedge fund scam: FSS

Nov 11, 2020

The Financial Supervisory Service said Wednesday that Optimus Asset Management, a local hedge fund house involved in an alleged fraud case, has incurred at least 436.3 billion won ($393 million) in f...
Hana Bank to adopt casual dress code

Nov 10, 2020

Hana Bank is set to allow employees to wear business-casual attire to create a relaxed working environment, industry sources said. The lender has recently decided to adopt a more casual dress code a...
Less than 1% of banking done in person: data

Nov 10, 2020

Less than 1 percent of all banking transactions across the country were made in person, data showed Tuesday, suggesting an apparent change in the retail banking landscape favoring non-face-to-face se...
Shinhan Financial CSO named as Korea’s first member of UNEP FI Global Steering Committee

Nov 8, 2020

Park Sung-hyun, the incumbent chief strategy and sustainability officer of Shinhan Financial Group has been appointed as a new member to the prestigious Global Steering Committee under the United Nat...