The Korea Herald

Worst is over for Korean economy but not in recovery yet: BOK chief

EconomyNov 26, 2020

South Korea’s central bank chief said Thursday that the worst for the nation’s economy is over but it is still not on the road to recovery, while the bank held the key interest rate steady at a recor...
Spending on tobacco, liquor hit record high amid pandemic

EconomyNov 25, 2020

Household expenditure on alcohol and cigarettes hit a new high in the July-September period, data showed Wednesday, with the “stay-at-home” situation amid the coronavirus pandemic apparently fueling ...
[Herald Interview] S. Korea vows to open an era of ‘digital IP’: IP office chief

EconomyNov 24, 2020

Furthermore, KIPO would focus on advancement and digitalization of patent assessment by utilizing AI technology and continue to update the process and standards, so it could bring about effective and...
S. Korea’s housing market polarization grows

EconomyNov 23, 2020

The number of multiple-home owners with five or more homes hit a record high last year, while the number of nonhomeowners also grew, data showed Monday, reflecting an intensifying housing market pola...
KB Financial union’s attempt to hire outside director falls through yet another year

MarketsNov 20, 2020

KB Financial Group labor union’s attempt to convince shareholders to appoint two outside directors recommended by them fell through Friday, deflating the union’s yearslong efforts to enter the boardr...
S. Korean banks adopt stricter lending rules for overdraft accounts

MoneyNov 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...
Korea to allow international flights without landing

EconomyNov 19, 2020

As part of the investment, 1,000 startups focused on the development of contactless technology would receive financial support on research and development through 2025, and a separate financial suppo...
BOK chief discusses COVID-19, digitalization with Asia-Pacific central banks

EconomyNov 16, 2020

Bank of Korea Gov. Lee Ju-yeol attended a videoconference with central bank representatives from 11 Asia-Pacific nations, the nation’s central bank said Monday. Key topics included the effects of COV...
Lawmakers set to adding ‘employment promotion’ to BOK’s role

EconomyNov 16, 2020

South Korean lawmakers of both the ruling and opposition parties’ latest attempt to amend the law to add the goal of maximum employment to the Bank of Korea’s mandate has been prompting divided respo...
Shinhan Bank partners with Microsoft to develop R&D platform

MarketsNov 15, 2020

Shinhan Bank said Sunday said it would collaborate with Microsoft Korea in building and operating its new research and development platform. On Friday, the two companies signed a strategic partnersh...
Shinhan presses ahead with zero-carbon drive

MarketsNov 15, 2020

South Korea’s financial behemoth Shinhan Financial Group has pledged to promote carbon neutrality in Korea and the rest of East Asia by adopting environmentally friendly standards for its investment ...
Global GDP to grow 5% in 2021, but COVID-19 risks to linger: KIEP

EconomyNov 12, 2020

The global economy will grow 5 percent next year, but risks will linger from the coronavirus pandemic, a state-run South Korean think tank forecast Thursday. “The global economy is projected to grow...
S. Korea’s household debt surges at fast pace in Oct.

EconomyNov 11, 2020

South Korea’s household debt extended by local banks surged at a rapid pace in October, gaining more than 10 trillion won ($9 billion) on-month, central bank data showed Wednesday, despite government...
Proxy advisers oppose KB's union-recommended outside directors

MarketsNov 10, 2020

South Korea’s largest proxy adviser, alongside Institutional Shareholder Service and Glass Lewis, has urged KB Financial Group shareholders against the appointment of two outside directors apparently...
What strong won on back of Biden victory means for S. Korea

EconomyNov 9, 2020

South Korea’s currency surged to a 22-month high against the US greenback on Monday as Joe Biden’s election victory sent waves across the global financial market. After opening at 1,120 won against t...