Articles by Park Ga-young
Park Ga-young
gypark@heraldcorp.com-
Credit loans soar again amid relaxed rules, bullish market
Credit loans climbed back up in the first week of 2021, fueled by a bullish stock market and eased bank loan rules, data showed Sunday. The total credit loan balance of the major five commercial banks -- KB Kookmin, Shinhan, KEB Hana, Woori and NH Honghyup -- stood at 134.1 trillion won ($122.6 billion) as of Jan. 7, adding 453 billion won from 133.6 trillion won at the end of 2020. The number of new credit loans via overdraft accounts almost doubled from 1,048 on Dec. 31 to 1,960 on Jan. 7.
Market Jan. 10, 2021
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Korean venture capital E& leads merger of clinical stage biotech firms
E& Investment, a South Korean venture capital that specializes in the bio and health care sectors, said Thursday that NeuroBo Pharmaceutical, in which the company owns a 40 percent stake, had acquired a US COVID-19 treatment developer. NeuroBo, a Nasdaq-listed clinical-stage biotechnology company, on Dec. 31 acquired ANA Therapeutics, which is developing a treatment for COVID-19 that is currently in phase two and three clinical trials. “This is an exciting and transformative
Market Jan. 7, 2021
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Retail investors, hopes of recovery open up era of Kospi 3000
An estimated 10 million retail investors, a weak dollar and hope for recovery pushed the benchmark Kospi above the 3,000-point threshold on Wednesday in what could be a new era for the local stock market. Analysts say many factors have driven the rally, including the weak dollar and anticipation for improved corporate earnings, but the biggest force may be legions of small investors, known locally as “ants.” The “ant warriors,” who purchased 60 trillion won ($52.22 bi
Market Jan. 6, 2021
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SK Biopharm shares slump as lock-up expires
SK Biopharmaceuticals shares plummeted as much as 10 percent Monday as almost 5 million shares were released after a lock-up period. Shares in the pharmaceutical company declined 8.58 percent to close at 154,500 won ($142) after plunging as much as 10 percet during trade as the last batch of shares that were locked in after the initial public offering were freed to the market. The benchmark Kospi rose 2.47 percent to 2,944.45 points on Monday. Over 4.9 million additional shares held by
Market Jan. 4, 2021
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K bank upgrades mobile app for tailored services
K bank, South Korea’s first internet-only bank, said Monday that it had revamped its mobile application to provide tailored services to its customers. Designed as a personal finance platform, the app operates an open banking system that allows users to transfer and withdraw money from accounts registered at separate banking institutions. Once a customer logs in, the main page of the K bank app displays the list of all accounts held by that customer. Customers can also personalize the
Market Jan. 4, 2021
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Number of high earners sharply rise: NTS
The number of employees with total paychecks exceeding 100 million won ($91,400) reached a record high of 852,000 in 2019, up some 50,000 from the previous year, data showed Tuesday. According to the National Tax Service, earners of over 100 million won accounted for 4.4 percent of the total 19.17 million salaried workers. An employee here earned 37.4 million won on average, before tax, last year, rising 2.7 percent, or 970,000 won, from 2018. Those who reported non-salary financial income
Economy Dec. 29, 2020
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Delivery discounts offered to support restaurants, social distancing
Consumers who order more than 20,000 won ($18.30) on designated delivery apps with a credit card will get 10,000 won as a cash back reward or discount, the government said Tuesday. Currently, seven delivery apps including Baedal Minjok, Yogiyo, Payco and Coupang Eats are participating, and four more apps are expected to join as soon as they complete system maintenance. Payments have to be made on the delivery apps with credit cards issued by nine card companies -- KB Kookmin, NH Nonghyup,
Economy Dec. 29, 2020
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Trade, business with China positive next year: FKI
A state visit to South Korea by the Chinese leader and the recovery of the world’s second-largest economy will improve trade and business ties between the two countries next year, a report suggested Monday. Comparing business sentiment between the two countries on a timeline, the Federation of Korean Industries said the relationship could get better than it was in 2016, just before the two started to bicker over the US decision to deploy an anti-missile system on Korean soil. The report
Economy Dec. 28, 2020
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[Herald Interview] With community-driven accelerator program, duo seeks startups with global impact
The world of venture investments is largely constrained to experts like venture capitalists and entrepreneurs who are well-versed in the industry. But what if the role of finding promising startups was extended to everyday people? This is exactly what Ho Chang-seong and Moon Ji-won, the co-founders of TheVentures, a South Korea-based investor and incubator for early-stage startups, did with their Impact Collective, a community-driven accelerator program. Launched this year, Impact Collective,
Industry Nov. 16, 2020
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TV personality Tyler Rasch turns to environmental activism with 'There is No Second Earth'
What would you think of a friend who earns $2,000 a month but spends $3,500? Most people would see it as an unsustainable lifestyle bound for bankruptcy. In his latest book “There is no second earth,” which addresses climate issues in a palpable way, TV personality Tyler Rasch compares the status of humanity’s exploitation of nature with that spendthrift friend. He warns that we are all debtors to the earth because we are using resources 1.75 times faster than the rate at wh
People Oct. 17, 2020
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[Herald Interview] Beverages legend bets on health drinks, overseas markets
“I’m very excited about this year, which will be the first year our beverage has truly made a foray into the US market,” Jo Un-ho, CEO of Hite Jinro Beverage, said in a recent interview. Hite Jinro Beverage is a subsidiary of Korea’s leading liquor conglomerate Hite Jinro and produces the group’s nonalcoholic drinks, including purified water and various tea products. This year, the company extended its market by adding US grocery chain Trader Joe’s as a ne
Industry Sept. 9, 2020
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[Herald Interview] By turning biomass into fuel, 4EN eyes to become impact unicorn
4EN is a South Korean startup with an ambition to become Asia’s largest greenhouse gas reduction initiative. The company aims to tackle the climate change problem using sustainable businesses ideas such as mitigating greenhouse gases and reducing toxic agricultural by-products, produces solid fuel, organic fertilizers, and bioplastic from coffee grounds and agricultural by-products, such as peanut shells. Up until a few years ago, the 9-year-old company was best-known for coff
Industry Sept. 1, 2020
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[Herald Interview] 'Eco-friendly initiatives now present corporate opportunities'
At a forum held in Jeongseon last month, Kang Tae-sun, founder and CEO of leisure clothing brand BYN Black Yak Korea, showed off the company’s new black shirts, which have been made in Gangwon Province. “We made this T-shirt from recycled plastic bottles carefully collected in Gangwon to help the province reduce its environmental impact and encourage customers to become more comfortable using products made from harmless recycled materials, such as these,” Kang said. “I
Industry Sept. 1, 2020
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[Herald Interview] Environment activist sees future in eco-smart city
The Leonardo DiCaprio environmental movie awards are one of Choi Yeol’s current ambitions. As a prominent South Korean environmental activist who leads the Environment Foundation, Choi, who is a big believer of cultural ripple effects, has already carried out several movie events and exhibitions to promote environmental awareness. His interests in the cultural movement and international collaboration are not coincidental. He believes that climate change is the most pressing environmental
Industry Sept. 1, 2020
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Asia Culture Center prepares to light up the night with 5-month exhibition
The Asia Culture Center, an international arts and cultural exchange organization based in Gwangju, announced Friday that it will be hosting a multimedia art project titled the Hall of Night Light, designed to illuminate the night sky through a range of light shows and interactive art installations from August 15 to December 31. Throughout the event, the center will transform into a colorful playground packed full of interactive multimedia art pieces, and feature dazzling light shows which w
Arts & Design Aug. 14, 2020
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