Hana Financial Group Chairman Ham Young-joo (front, center left) and celebrity psychiatrist and author Oh Eun-young (front, center right) pose for a picture following a "healing concert" in Seo-gu, Incheon, Friday, for family members of Hana employees to share their various concerns. Some 500 attendees participated in the event in person, while 2,000 others joined via video links. (Hana Financial...

'Newly rich' in 30s, 40s account for 18.4% of wealthy Koreans

South Korea is expected to post a growth in 2022 exports from a year earlier, but it is unlikely to meet its yearly target of $700 billion in outbound shipments due to sluggish sales of key items, like mobile devices and ships, government data showed Sunday. Exports of 15 major products, including semiconductors, ships, cars and petrochemicals, for the first 11 months of 2022 amounted to $490.6 ...

South Korea's exports of agricultural and food products jumped to touch a new record high in the first 11 months of this year, government data showed Sunday. Outbound shipments of agricultural and food goods came to $8.08 billion in the January-November period, up 4 percent from the same period a year earlier, according to the agriculture and fisheries ministries. Exports of instant noodles sur...

South Korea’s largest private equity firm Hahn & Company said Friday it has completed the acquisition of the industrial film business of SK Group affiliate SKC in a deal worth 1.6 trillion won ($1.2 billion). The latest deal is the largest merger and acquisition closed in the country this year amid M&A jitters globally. The company said SKC’s industrial film business has full potential as its p...

South Korea's on-year growth in consumer prices sharply slowed in November from a month earlier at the lowest level in seven months, data showed Friday, hinting the country's inflationary pressure has passed its peak. Consumer prices, a key gauge of inflation, rose 5 percent last month from a year earlier, compared with a 5.7 percent growth tallied in October, according to the data from Statisti...

South Korean stocks opened lower Friday, as investors took a breather after recent rallies fueled by optimism that the US Federal Reserve may slow the pace of interest rate hikes. The benchmark Korea Composite Stock Price Index fell 21.94 points, or 0.88 percent, to 2,457.90 in the first 15 minutes of trading. Latest US data showed its manufacturing contracted last month for the first time in 2...

Powell's signal on Fed pullback on rate hikes gives green light to investors

South Korea's exports fell for the second consecutive month on-year in November and the decline accelerated from the previous month due to the global economic slowdown and logistics disruptions over a truckers' strike, the trade ministry said Thursday. The country also suffered a trade deficit for the eighth straight month on high global energy prices, ringing an alarm over its growth momentum. ...

Finance Minister Choo Kyung-ho on Thursday reiterated his call for local truckers to return to work, stressing that their strike is causing severe damage to the country's economy, already hurt by uncertainties. The remark came after South Korea invoked a return-to-work order on truckers of the cement industry earlier on Tuesday, as thousands of truckers have been on strike since last week, deman...

South Korean stocks opened sharply higher Thursday, boosted by US Federal Reserve Chair Jerome Powell's remarks signaling smaller rate hikes. The benchmark Korea Composite Stock Price Index rose 24.23 points, or 0.98 percent, to 2,496.76 shortly after the opening bell. It briefly breached the 2,500-point mark. Speaking at a Brookings Institution event Wednesday, Powell indicated the Fed could ...

Top picks include Samsung Electronics, LG Energy Solution, Samsung SDI, SK hynix

South Korean stocks opened lower Wednesday, as investors were cautious ahead of an upcoming speech by US Federal Reserve Chair Jerome Powell, which may offer clues on the future direction of interest rate hikes. The benchmark Korea Composite Stock Price Index slid 11.68 points, or 0.48 percent, to 2,421.71 in the first 15 minutes of trading. Powell is scheduled to speak on the economic outlook ...

By Yoo Chang-jo Professor of marketing at Dongguk University The Korea Herald presents the Global Finance Awards upon recognition that, for the Korean economy to grow in this age of cutting-edge technology, it is essential to build a financial ecosystem that meets global standards and raises the competitiveness of the country’s financial industry. The purpose of these awards is to encourage fi...

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