The Korea Herald

Kookmin Bank pushes for aggressive downsizing

Jan 18, 2011

Kookmin Bank is accelerating its major manpower restructuring, transferring 219 underperforming employees to an extra department designed for retraining. A certain portion of them will likely face d...
FSC criticized for savings banks push

Jan 17, 2011

Financial groups may see reputation undermined by acquiring distressed institutions The Financial Services Commission has come under criticism for apparently pressuring major financial groups to tak...
Regulator suspends Samhwa Savings Bank

Jan 14, 2011

More face suspension, M&As The Financial Services Commission has launched a massive restructuring of the secondary banking sector, halting operations of a leading savings bank Friday. The financial...
Seoul strives to fight hikes in home rental costs

Jan 13, 2011

A package of government measures unveiled Thursday to curb rising consumer prices includes a policy to stabilize the property market amid soaring housing rent prices. The government has focused on a...
Real estate market may be better off in 2011

Jan 12, 2011

Expectations are rising that the domestic real estate market hit bottom last year and began to recover in the last quarter. The Land & Housing Institute said Wednesday home transaction volume and pr...
KEB union may strike to block Hana

Jan 11, 2011

The labor union of Korea Exchange Bank is bracing for an all-out struggle, including a general strike, to block Hana Financial Group from acquiring the lender, which they fear could lead to a massive...
Korea to establish grain firms in America, Asia

Jan 10, 2011

Korea plans to set up grain procurement companies in major countries such as the United States and Brazil to directly bring in agricultural products as part of its long-term effort to fend off consum...
KEB union files injunction to block Hana’s deal with Lone Star

Jan 10, 2011

The labor union of Korea Exchange Bank filed a court injunction Monday to block U.S.-based Lone Star Funds’ plan to sell its controlling state in the bank to Hana Financial Group. In its filing with...
Hyundai Motor preferred bidder for Hyundai E&C

Jan 7, 2011

Hyundai Motor Group was designated as the preferred bidder for Hyundai Engineering & Construction on Friday. At the shareholder’s meeting held in downtown Seoul, Hyundai E&C’s eight major creditors ...
FSC, banks strive to rescue savings banks

Jan 6, 2011

Financial groups offer to take over troubled secondary institutions The government and large banking groups are coming to the rescue of the savings banks industry to prevent their debt crisis from h...
Hyundai Motor set to win battle over top builder

Jan 5, 2011

Hyundai Motor Group looks set to win its months-long competition with Hyundai Group to take over Korea’s top construction company. Creditors of Hyundai Engineering & Construction, including Korea Ex...
Court dismisses Hyundai’s injunction over builder sale

Jan 4, 2011

A Seoul court on Tuesday supported Hyundai Construction and Engineering creditors’ cancellation of a preliminary contract to sell their controlling stakes to Hyundai Group. The ruling cleared the wa...
Prosecutors probe former top Woori executives

Jan 4, 2011

Woori Bank filed complaints against several former executives with the prosecution last month to investigate allegations that they issued illegal loans and took kickbacks, sources said Tuesday. Amon...
New chief regulator sets hardline stance

Jan 3, 2011

Kim Seok-dong, new chief of the Financial Services Commission, said Monday that the financial regulator will actively intervene in the market if necessary for stability. “To secure order and stabili...