The Korea Herald

COVID-19 irony: Banking groups set to break records in pandemic

Nov 1, 2020

Banking groups stun onlookers with earnings surprises driven by retail investors’ buying binge, increased loan demand
NPS reaps 5% return as measures to boost gains are underway

Oct 30, 2020

South Korea’s public pension fund, the National Pension Service, said Friday that it has reaped a 5.07 percent return on its total investments from January to August this year. The nation’s largest ...
[Advertising Awards] Shinhan’s 'Sobi Mama' campaign finds wit in wise spending

Oct 29, 2020

The company’s latest advertisement was to introduce Shinhan Pay Fan’s various financial services in My Data era, and to show customers that we will always be with them and help them take care of thei...
Major Korean banking groups post stronger-than-expected Q3 earnings

Oct 29, 2020

Brokerages, not banking units, see greatest gains over stock market rally
Woori Bank launches Korea desk in Bangladesh

Oct 28, 2020

Woori Bank said Wednesday it has launched a Korea desk at its branch in Dhaka, Bangladesh, to help South Korean companies extend their business into the South Asian country. Through the service desk...
New Citibank Korea CEO stresses risk management

Oct 28, 2020

Yoo Myung-soon, the new CEO of Citibank Korea -- the local branch of New York-based Citigroup -- urged the bank’s leaders as well as employees to ramp up efforts to counter potential managing risks f...
Citibank Korea officially names first female CEO

Oct 27, 2020

Yoo Myung-soon, incumbent interim chief executive officer of Citibank Korea, was officially tapped to lead the bank as the first female chief to lead the US lender’s local unit, officials said Tuesda...
Woori Financial posts better-than-expected Q3 net profit

Oct 26, 2020

Woori Financial Group said Monday that its third-quarter net profit dropped 1.13 percent on-year to 479.8 billion won ($425 million), but was above market expectations amid coronavirus woes. Local b...
Woori Financial to acquire Aju Capital for W572.4b

Oct 23, 2020

Woori Financial Group said Friday its board of directors agreed to buy a controlling stake in nonbanking lender Aju Capital from private equity firm Well to Sea Investment for 572.4 billion won ($507...
Lock-up free institutions’ selloff behind Big Hit stock plunge: market watchers

Oct 22, 2020

An instant 425.8 billion-won ($375.1 million) selloff by major shareholders of South Korean pop music agency Big Hit Entertainment appears to have caused a sharp decline of the Big Hit stock price in...
Kakao to raise $300m in Singapore to muster up M&A dry powder

Oct 22, 2020

South Korea‘s internet giant Kakao is planning to issue $300 million worth of exchangeable bonds to accumulate the dry powder for its future mergers and acquisitions activities, the company said in a...
JB’s Cambodian subsidiary launches e-loan repayment services

Oct 21, 2020

Phnom Penh Commercial Bank -- the Cambodian subsidiary of JB Financial Group’s flagship lender -- signed a deal with a Thailand-based financial technology firm to provide electronic loan repayment se...
Central bank upgrades large-value fund transfer system

Oct 21, 2020

South Korea’s central bank on Wednesday held a ceremony for the launch of its upgraded large-value interbank fund transfer system, which started operations last week. The Bank of Korea’s real time g...
Authorities seek to revoke Lime Asset license

Oct 20, 2020

South Korea’s financial watchdog on Tuesday recommended that Lime Asset Management lose its license, the toughest penalty possible, for defrauding its investors and costing them trillions of won. Th...
S. Korea state pension partners with Dutch fund for joint investments

Oct 20, 2020

South Korea's state pension fund said Tuesday it has partnered with its Dutch counterpart to make joint investments in overseas assets. The National Pension Service has recently joined hands with AP...