The Korea Herald

S. Korea to face mounting public debt next year: IMF

EconomyAug 7, 2020

South Korea’s public debt is expected to surge until next year due to aggressive government spending to revive the sluggish local economy, according to the International Monetary Fund on Friday. The...
FSS' sanction may put brake on Hanwha Life's digital transition

MarketsAug 6, 2020

South Korea’s financial watchdog said Thursday it will hold a sanctions committee later this month concerning Hanwha Group’s insurance unit’s financial support for the conglomerate’s duty-free busine...
50-story apartment rebuilding scheme faces market backlash

MarketsAug 5, 2020

The local real estate market appears not to be very excited about the government‘s conditional approval of turning old apartments into 50-story buildings, due to its condition of donating more than a...
Seoul home prices now exceed 12 years’ average salary

MarketsAug 3, 2020

A Seoul citizen has to save their entire income without spending a dime for more than 12 years in order to buy a house in the city due to the country’s soaring apartment prices, data showed Monday. ...
S. Korea ranks 2nd in GDP growth rate after China: OECD

EconomyAug 2, 2020

South Korea’s economy declined 3.3 percent on-year during the second quarter, but it ranks second in terms of gross domestic product growth rate among major economies, data showed Sunday. According ...
FSC to tighten regulation on ELS issuance

MoneyJul 30, 2020

In an effort to lower consumer risks caused by the overheated equity-linked securities market, South Korea’s financial regulator said Thursday it will impose tighter regulations on leverage ratio of ...
Regulators apologize for hedge fund fiasco

MoneyJul 29, 2020

South Korea’s top financial authorities on Wednesday pledged to investigate all private equity fund operators over the next three years, apologizing for causing public concerns over the snowballing h...
Older Koreans hope to work until age 73: survey

EconomyJul 28, 2020

Nearly 67 percent of South Koreans between the ages of 55 and 79 want to keep working, a survey showed Tuesday. Their preferred retirement age is 73 on average. According to a survey conducted by St...
K bank to launch ‘untact’ loan transfer service

MoneyJul 27, 2020

South Korea’s online-only lender K bank said Monday it plans to launch a new untact -- non face-to-face -- loan balance transfer service in the second half of this year, the first of its kind in the ...
Shinhan Financial hands over leading bank title to rival KB in Q2

MoneyJul 26, 2020

Taking a hit from the private equity debacle, Shinhan Financial Group failed to prolong its solid earnings streak in the second quarter and handed over the industry’s top position to rival KB Financi...
S. Korea pushes privately funded infrastructure projects worth W30tr

EconomyJul 23, 2020

South Korea will push ahead with privately financed infrastructure projects worth more than 30 trillion won ($25.1 billion) this year, as part of its efforts to revive the coronavirus-battered econom...
FSC OKs BC Card’s acquisition of controlling stake in K bank

MoneyJul 22, 2020

South Korea’s financial regulator said Wednesday it has permitted BC Card to acquire a 34 percent controlling stake in internet-only K bank. With the Financial Services Commission’s approval, the cr...
Hospitality industry’s Q1 output contracts to 10-year low: BOK

MarketsJul 22, 2020

South Korea’s lodging and dining industry’s revenue plummeted to a 10-year low in the first quarter with a surge in loan requests, the central bank said Wednesday. According to data from the Bank of...
FSC, financial giants to mull loan maturity extension to cushion pandemic impact

MoneyJul 19, 2020

Financial Services Commission Eun Sung-soo will attend a closed-door meeting of the heads of South Korea’s five biggest banking groups Friday to discuss whether to further ease loan repayment schedul...
[Weekender] ‘Revenge shopping’ on rise as alternative to summer vacay

MarketsJul 16, 2020

Foreign fashion experts are now eyeing Korean customers, saying a luxury rebound here could drive up a recovery for international luxury labels. “Korean customers are famous for loyalty towards the ...