When is foreign too foreign? Korea's takeover tensions

A recent streak of mergers and acquisitions led by private equity firms has intensified the debate over foreign-owned companies investing in Korean businesses, raising concerns about the possible outflow of key strategic technologies At the center of the controversy is a recent revision to the Enforcement Decree of the Act on Prevention of Divulgence and Protection of Industrial Technology. The updated regulation, set to take effect on July 22, does not apply "foreign investment" provisions to K

May 15, 2025

Won falls as US-China tariff truce lifts dollar

The Korean won weakened Tuesday, hit by the strengthening of the US dollar as Washington and Beijing deescalated their trade war. The benchmark Kospi remained flat, unable to join the global stock rally. The won stood at 1,416 won per dollar as of the close of daytime trading Tuesday, down 13.6 won from the previous session. After opening at 1,415 won, it briefly strengthened to 1,408 won before slipping to 1,420.5 during the session. On the previous day, the won had weakened to 1,426 per dollar

May 13, 2025

KB Bank signals strategic shift in Indonesia with profit rebound

KB Kookmin Bank is expected to push for a breakthrough at its long-struggling Indonesian subsidiary, KB Bank, with a change in leadership this year. Accelerating the shift, the unit returned to profitability in the first quarter. KB Bank President Director Lee Woo-yeol is set to step down at the holding company’s shareholder meeting scheduled for May 28 at its Seoul headquarters. The bank is reportedly considering appointing an Indonesian national as Lee's successor. If confirmed, it would mark

May 12, 2025

Korea posts worst Q1 growth among major economies

South Korea’s economy was the worst-performing among 19 major countries with available data, held back by its demographic challenges, according to data released Sunday by the Bank of Korea. Data from the central bank’s Economic Statistics System, based on figures from the OECD, showed that the country’s real gross domestic product — a key indicator of economic growth — contracted by 0.246 percent in the January-March period. This 0.246 percent contraction was the poorest economic performance amo

May 11, 2025

BOK faces growing rate cut dilemma as US Fed stands pat

The US Federal Reserve held its key interest rate unchanged, adding pressure on the Bank of Korea’s rate-setting decision later this month. Following a two-day Federal Open Market Committee meeting, the Fed maintained its benchmark lending rate in the 4.25–4.5 percent range. With the decision, the gap between Korea’s key rate and the US rate remains at 1.75 percentage points. The Fed’s decision puts additional pressure on the BOK, which has kept its policy rate at 2.75 percent since February. In

May 8, 2025

[Hello Thailand] From EVs to smart cities: Thailand seeks to unlock growth potential with Korea

South Korea and Thailand could seek synergy in diverse sectors, from electronic vehicle manufacturing to smart city development to waste management, according to senior executives of the Southeast Asian country's state economic development authorities. The Korea Herald interviewed three senior executives while they were visiting Korea for the Ignite Thailand-Korea Business Forum held last month. The executives highlighted that Thailand can offer streamlined investment procedures for foreign capi

May 7, 2025

[Hello Thailand] 'Thailand ready to join Asia’s financial hubs'

With its geographical connectivity and sound regulatory infrastructure, Thailand is well-positioned to emerge as the financial hub of Southeast Asia, according to Deputy Minister of Finance Julapun Amornvivat. “We believe Thailand can serve as a strong financial hub in Southeast Asia,” Amornvivat said in a recent interview with The Korea Herald. He visited Seoul late last month to attend the Ignite Thailand-Korea Business Forum, co-hosted by Herald Media Group, the Royal Thai Embassy in Korea an

May 7, 2025

Won climbs on softer US tariffs, Taiwan currency surge

With the South Korean won having recently gained strength, the record gain of the Taiwanese dollar, sparked by speculation about Taiwan's trade talks with the US, sent other Asian currencies rallying and further pushed up the value of the won. The Korean won appreciated against the US dollar in offshore trading, with the one-month non-deliverable forward contract quoted at 1,372.9 won on the New York forex market. If this level were to hold, the Korean won would open in the 1,370 won range again

May 6, 2025

Korea gears up to celebrate Buddha's birthday

With Buddha's birthday falling on Monday this year, South Korea geared up for the celebrations on Sunday. Lotus lanterns are hung around Jogyesa, the main temple of the Jogye Order of Korean Buddhism, which is situated in central Seoul. On Sunday, children participated in a "Buddha bathing" ritual, traditionally held on the eve of Buddha's birthday. One can pay his or her respect to Buddha and celebrate his birth by bathing a statue of baby Buddha. Calligraphy artist Kim Dong-wook performed a ce

May 4, 2025

Won gains to 5-month high

The Korean won gained its value sharply against the greenback on Friday, reaching the 1,390 won range for the first time in five months during after-hours trading. The won against the dollar strengthened to 1,397.2 won at around 18:42 p.m., gaining value by 30 won from 1,426.9 won, the closing price of the previous after-hours trading session. Its value per dollar stood at 1,393.27 won as of 9:50 p.m. The won's appreciation came amid the gain of the Chinese yuan. With China indicating a softenin

May 2, 2025