[Photo News] Promoting financial literacy

Hana Financial Group signed an agreement with the Financial Supervisory Service, North Chungcheong Province and the North Chungcheong Provincial Office of Education to provide financial education in the region. Under the agreement, the financial service provider will offer various support programs, such as online financial education for elementary students and a financial consultation service for youths. It also plans to provide a mentoring program and launch campaigns to prevent financial fraud

April 28, 2025

US tariffs to hurt Korean banks' profitability: Fitch

A surge in US tariffs would pummel South Korean banks, as the slowdown of Asia's fourth-largest economy could take a toll on their profitability and asset quality, according to an executive at a global credit rating agency. While Korea and the US agreed to work toward a comprehensive package deal aimed at removing new US tariffs, Jonathan Cornish, managing director and head of Asia-Pacific Bank Ratings at Fitch Ratings, suggested that local lenders could suffer a blow from higher tariffs. “Overa

April 27, 2025

Thailand spots opportunity in major infrastructure projects

Thailand has strong potential to expand its infrastructure and financial systems, underpinned by a resilient economy, according to speakers at the Ignite Thailand-Korea Business Forum held Tuesday. At the event, Suksit Srichomkwan, deputy secretary-general to the Thai prime minister, promoted the country’s 1 trillion baht ($30 billion) Land Bridge project. It aims to link the Gulf of Thailand with the Andaman Sea through a 90-kilometer highway and railway, offering an alternative to the congeste

April 24, 2025

Ignite Forum spotlights Thailand-Korea synergies

South Korea and Thailand can build a strong partnership based on mutual growth, attendees at the Ignite Thailand-Korea Business Forum discussed. Co-hosted by Herald Media Group, the Royal Thai Embassy in Korea and the Industrial Estate Authority of Thailand, the two-day event at Lotte Hotel Seoul aimed at deepening the bilateral economic ties. Commemorating the 67th anniversary of diplomatic relations between the two nations, the forum welcomed a large delegation of high-ranking Thai government

April 24, 2025

Thailand-Korea forum kicks off in Seoul to deepen economic ties

The Ignite Thailand-Korea Business Forum kicked off in Seoul on Tuesday, providing a platform for participants to explore ways South Korea and Thailand can expand cooperation across diverse sectors. Aimed at deepening bilateral economic ties, the two-day event at Lotte Hotel Seoul was co-hosted by Herald Media Group, the Royal Thai Embassy in Korea, and the Industrial Estate Authority of Thailand. Commemorating the 67th anniversary of diplomatic relations between the two nations, the forum welco

April 22, 2025

Mirae Asset’s Aussie unit surpasses A$10b under management

Global X Australia, an exchange-traded fund manager under Mirae Asset Global Investments, has garnered over 10 billion Australian dollars ($6.4 billion) in assets under management, showing sharp growth, according to the firm’s announcement on Monday. The Aussie ETF provider's assets under management more than doubled from the A$4.64 billion in 2022 when Mirae Asset acquired the firm, to hitting the A$10 billion milestone in just three years. With the assets under management, it is the fifth-larg

April 21, 2025

The Ritz-Carlton to return to Seoul in 2031

The Ritz-Carlton, a top-tier luxury hotel brand, is set to return to South Korea, having been selected to operate a hotel at the redeveloped Millennium Hilton Seoul site by 2031, the asset manager for the site announced Monday. Igis Asset Management, which is in charge of running the Iota project that involves the redevelopment of the premises of the former Millennium Hilton Seoul in Jung-gu into a mixed-use property, selected The Ritz-Carlton brand as the preferred bidder to run the hotel to be

April 21, 2025

‘Cash cow’ SK Siltron draws strong PE interest despite cyclical risks

South Korea's leading private equity firms are eyeing a controlling stake in semiconductor wafer producer SK Siltron, which has been put on the market by energy-to-chip conglomerate SK Group as part of an all-out restructuring drive. SK Inc., the group’s holding company, has reportedly expressed interest in selling its 70.6 percent stake in SK Siltron to optimize its business portfolio and address inefficiencies and financial strain. With the wafer producer’s valuation estimated at around 5 tril

April 18, 2025

Korea’s W12tr extra budget to boost economy by 0.1%p

The South Korean government’s proposed supplementary budget worth 12.2 trillion won ($8.6 billion) is projected to stimulate growth in the country’s gross domestic product by 0.1 percentage point, officials said Friday. The government passed the extra budget proposal at an extraordinary Cabinet meeting on Friday. Of the 12.2 trillion won, roughly 4 trillion won will be injected into shoring up key industries affected by trade tensions and advancing the artificial intelligence sector, while 3 tri

April 18, 2025

BOK holds key rate amid US tariff pressure, won volatility

The Bank of Korea held its base rate steady at 2.75 percent Thursday, as the South Korean economy faces headwinds from the US administration’s tariff measures. The central bank also projected it would have to cut the country’s gross domestic product growth forecast for 2025 to below the previous estimate of 1.5 percent. The rate freeze was supported by five out of six members of the Monetary Policy Board, excluding BOK Gov. Rhee Chang-yong, whose individual vote is not disclosed. One of the six

April 17, 2025