The Korea Herald

Articles by Son Ji-hyoung

LATEST NEWS

November 19, 2018 Finance

Large-scale executive reshuffles loom in Korea’s banking sector

South Korea’s financial groups are facing potentially massive reshuffles of their executive teams as a majority of the incumbents at commercial lenders and their holding companies approach the end of...

[News Focus] State-sponsored ‘Zero-Pay’ scheme brings sustainability into question

South Korea’s capital city is poised to set up a state-sponsored financial infrastructure project aimed at lowering card payment-processing costs for small merchants. But there are already doubts ab...

November 18, 2018
Finance
Conglomerates' spending on business assets jumps 10.9%

Affiliates and subsidiaries of South Korea’s top 30 conglomerates spent a combined 64.9 trillion won ($57.3 billion) on acquiring business assets, such as facilities and projects for research and dev...

November 18, 2018
Industry
Citibank Korea pays out W827.5b dividend for ‘capital optimization’

Citibank Korea said Wednesday it plans to pay out an interim dividend worth some 827.5 billion won ($731.3 million) in cash to its Delaware-based US parent company Citibank Overseas Investment Corpor...

November 15, 2018
Finance
Nonprofit organization to provide W345b to stimulate startups, create 11,000 jobs

South Korean nonprofit organization Banks Foundation for Young Entrepreneurs unveiled Wednesday plans to provide 345 billion won ($304.7 million) over three years to local startups to support their g...

November 14, 2018
Finance
Global ‘investment war’ looms: Kofia chairman

The chief of South Korea’s capital investment business association on Tuesday urged the nation to prepare for a looming global “investment war,” which he views as a global phenomenon that will soon s...

November 13, 2018
Finance
Woori Bank’s M&A capability in question despite new holding company structure

While South Korean commercial bank Woori Bank and its subsidiaries are inching closer to a holding company structure, possibilities of aggressive mergers and acquisitions to expand the banking group ...

November 11, 2018
Finance
Korean financial institutions suffer $150m cross-default on Chinese bond insolvency

South Korea’s financial institutions suffered insolvency of asset-backed commercial papers Friday at midnight, following a Chinese firm’s default on payments due for bonds. The ABCPs were backed by ...

November 10, 2018
Finance
Relief rally in Korean markets after US midterm elections result

South Korean stock markets were bullish Thursday on strong foreign buying, as the midterm elections results in the United States stoked investors’ appetite for risk. The benchmark index of top-tier ...

November 8, 2018
Finance
Woori Bank CEO tapped to head holding firm

Woori Bank nominated its incumbent Chief Executive Officer Sohn Tae-seung as the chairman of a new holding company set to control the nation’s fourth-largest commercial bank, officials said Thursday....

November 8, 2018
Finance
Woori Bank to adopt financial holding company structure

Woori Bank, South Korea’s fourth-largest commercial bank and the parent company of 19 financial subsidiaries, has gained regulatory approval to adopt a financial holding company structure. (Yonhap) ...

November 7, 2018
Finance
Seoul to provide W15b for Korean firms eyeing ASEAN market

Some 15 billion won ($13.4 million) will be allocated in the national budget next year to assist Korean small and medium-sized companies making inroads into the Southeast Asian market, a presidential...

November 7, 2018
Economy
FSC chairman hints at securities transaction tax cut

Financial Services Commission Chairman Choi Jong-ku hinted Tuesday at cutting or removing the securities transaction tax on the Korean equity market and to discuss the matter with tax authorities. “...

November 6, 2018
Finance
Regulator standardizes QR code for electronic payment

The Financial Services Commission, South Korea’s financial regulator, unveiled Tuesday a set of standards for QR codes for electronic payment, in a nation where the smartphone penetration rate is hig...

November 6, 2018
Finance
Won rally ends on US jobs growth, renewed trade war

South Korea’s local currency edged down against the greenback on Monday on robust jobs readings in the United States that sparked an upsurge in the US dollar, and on renewed threats of a US-China tra...

November 5, 2018
Finance

The Korea Herald by Herald Corporation

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