The Korea Herald

Proposed insurance rules may force Samsung Life to unload Samsung Electronics shares

Aug 17, 2020

The push by some lawmakers to revise the Insurance Business Act is weighing down on the nation’s largest life insurance firm, Samsung Life Insurance, as the insurer would have to offload a large part...
Demand for personal credit loans surges amid stricter mortgage rules

Aug 17, 2020

Korean banks’ personal credit loans extended to individuals have continued to soar in August, as the government tightened mortgage loan regulations to stabilize the overheated housing market, data sh...
Kakao founder becomes second-richest S. Korean stockholder, bumping Samsung heir

Aug 17, 2020

Kakao founder Kim Beom-su snagged the No. 2 spot on the list of South Korea’s wealthiest businesspeople, with his stock assets rising by some 5 trillion won ($4.2 billion), industry data showed Monda...
Citibank, Standard Chartered Bank post mixed Q2 earnings in Korea

Aug 14, 2020

Citibank and Standard Chartered Bank’s Korean subsidiaries posted mixed earnings in the second quarter, as per their disclosures Friday. The New York-based lender’s subsidiary bit the dust amid the ...
Banks to adjust loan payments, ATM fees for temporary holiday

Aug 14, 2020

For the temporary national holiday slated for Monday, South Korean lenders and financial authorities said Friday that loan payments, ATM fees and other services would be adjusted for the time being. ...
Korean banks’ H1 net profit dips

Aug 13, 2020

The combined net profit of South Korean banks for the first half of this year dipped 17.5 percent on-year due to increased loan-loss provisions amid the coronavirus pandemic, data released by the Fin...
Gen2 Partners fund freeze headache for Korean brokerages, banks

Aug 11, 2020

South Korean financial institutions associated with Hong Kong-based hedge fund manager Gen2 Partners are in a predicament as they struggle to ensure the investment -- sold by them -- could be redeeme...
Korean financial groups step up to aid flood-hit regions

Aug 9, 2020

Hana Financial Group sent 1 billion won in donations to the KDRA, while Shinhan Financial Group’s flagship lender Shinhan Bank donated 500 million won via its 24 branches across the nation. Both plan...
Beauty app Zamface attracts W5.5b in series A funding

Aug 6, 2020

South Korean beauty video app Zamface said Thursday that it has raised 5.5 billion won ($4.64 million) in series A funding from multiple investors to expand into the Southeast Asian market. STIC Ven...
Kospi notches record high for 2020 amid economic rebound hopes

Aug 4, 2020

Buttressed by retail investors’ massive buying, Kosdaq closes at 52-week high
Asiana creditor blasts HDC for looming W2.5tr deal collapse

Aug 3, 2020

Policy lender Korea Development Bank on Monday turned its blame to Hyundai Development Co., the proposed buyer of indebted Asiana Airlines, over its delayed 2.5 trillion-won ($2.09 billion) acquisiti...
Banking groups strive for digitalization amid lingering virus risks

Aug 2, 2020

The performance of South Korean financial groups was all over the map in the April-June period, and the coronavirus pandemic is prompting many to draw up digitalization plans for the second half of t...
Doosan sells golf club for 1st bailout payback

Aug 2, 2020

Financially stressed Doosan Heavy Industries & Construction said Sunday it has closed a deal to sell its golf course for 185 billion won ($155.33 million), enabling it to make debt repayment for the ...
Bridge institution to assume liabilities of scandal-ridden Lime funds

Aug 2, 2020

South Korea is looking to launch a bridge institution to take over all the assets, as well as the liabilities, of the scandal-ridden hedge fund Lime Asset Management and ensure that its end-investors...
VCs mull exit plans as market recovers from pandemic impact

Jul 30, 2020

South Korea’s venture capital houses are actively seeking exit plans from their startup investments as promising firms are gearing up for initial public offerings following the stock market recovery,...