Citibank Korea names first new chief in 6 years

Citibank Korea is set to have a new chief after six years, with its corporate banking head Kim Kyoung-ho poised to take the helm after the current chief Yoo Myung-soon steps down. Citibank Korea's executive recommendation committee selected Kim as the final candidate for chief at a meeting held Tuesday. Kim is expected to be appointed following approval at a shareholders' meeting and a subsequent board meeting. Kim joined Citibank Korea in 2001 and has held various positions in corporate banking

2026-09-23 10:11:34:00

KRX sees high volatility in first week of extended trading

The Korea Exchange's newly launched after-hours market has seen high levels of volatility in its first week, amid relatively thin liquidity and a high concentration of retail investors. According to the KRX, an average of 54.85 million shares, worth 1.1 trillion won ($811 million), changed hands each day in during the 4-8 p.m. after-hours market from Sept. 14 to Friday, accounting for 4.6 percent of total market trading value. During the period, a total of 5,354 volatility interruptions — measur

2026-09-22 15:09:02:00

State Street sees won retreating after sharp rally

The South Korean won has limited room to strengthen further in the near term, as exporter dollar-selling flows have weakened and demand for overseas stocks remains strong, according to State Street Markets. "The Korean won has already strengthened to its capable extent," Choi Ji-uk, senior macrostrategist for the Asia-Pacific region at State Street Markets, said at a media roundtable held at the custodian bank's Seoul office on Thursday. The won, which had dipped to its weakest point since the g

2026-09-17 17:43:25:00

How Korea plans to take won global

South Korea has allowed foreign financial institutions to settle won payments directly overseas, marking a step toward making the currency more widely used on a global scale, the Finance Ministry said Wednesday. Under the new framework, existing registered foreign institutions will be able to obtain an additional license as Registered Foreign Institutions for KRW Business, or RFI-Ks for short. With the license, foreign financial institutions will be able to open omnibus accounts with domestic ba

2026-09-16 15:02:53:00

Chip sell-off drags down Kospi

South Korea's stock market rally has stalled as chip stocks lose ground, wiping more than 200 trillion won ($147 billion) off its combined market capitalization over the past month. The benchmark Kospi's market capitalization stood at 5,464.31 trillion won, while the Kosdaq's totaled 455.08 trillion won at Tuesday's close, bringing the combined market capitalization of the two markets to 5,922.87 trillion won. The figure represents a decline of over 200 trillion won from 6,234 trillion won on Au

2026-09-15 15:57:48:00

Mirae Asset's Global X launches MLCC ETF to capture AI power boom

Global X, the US exchange-traded fund arm of Mirae Asset Global Investments, has launched an ETF focused on multilayer ceramic capacitors and other electronic components benefiting from the rapid expansion of AI infrastructure. The Global X MLCC & Electronic Components ETF began trading Friday on the Cboe BZX Exchange. The actively managed fund invests in manufacturers of MLCCs, essential components used to regulate power and filter electrical signals in AI servers, electric vehicles, smartphone

2026-09-15 13:37:58:00

NPS taps pension veteran Lee Kyu-hong as new CIO

Lee Kyu-hong, former chief investment officer at Teachers' Pension Korea, has been appointed to head fund management at the National Pension Service, the world's third-largest pension fund, which manages 1,866 trillion won ($1.4 trillion) in assets, the pension fund announced Monday. Lee will assume his duties as CIO on Tuesday. He will serve a two-year term with the possibility of annual reappointment based on performance. Having held senior investment positions at both private and public asset

2026-09-14 15:01:04:00

KB Financial taps global executive as next chair

KB Financial Group named Lee Jae-keun, chief business officer of global, wealth management and corporate finance, as the final candidate to be its next chairperson, defying expectations that incumbent Chairman Yang Jong-hee would serve a second term, the banking group said Friday. Following a meeting of its chair candidate recommendation committee, the group announced Lee as the final candidate. He is expected to be formally appointed as chairperson at an extraordinary general meeting of shareho

2026-09-11 18:12:31:00

Korea Eximbank links Korean firms to African countries' AI, digital push

The Export-Import Bank of Korea will step up economic cooperation with African countries while supporting domestic companies seeking to expand into local markets, the policy lender announced Friday. During the 8th Korea-Africa Economic Cooperation Ministerial Conference held Wednesday and Thursday, Korea Eximbank held bilateral meetings with the Botswana Vice President Ndaba Nkosinathi Gaolathe and finance ministers from Tanzania, Kenya, Rwanda, Ghana, Egypt, Uganda, Zimbabwe, Lesotho and Sierra

2026-09-11 15:41:54:00

Korean investors rush back to US stocks on stronger won

A stronger South Korean won is encouraging local investors to step up their purchases of US stocks again, as a stronger currency makes dollar assets cheaper in won terms. According to the Korea Securities Depository, the outstanding value of US stocks held by residents in Korea stood at $191.84 billion as of Wednesday. The figure rose from $171.46 billion at the end of July and $188.36 billion at the end of August, continuing its upward trend into September. While Korean investors' purchases of

2026-09-11 15:02:11:00