Foreigners turn net buyers for 1st month this year

Foreign investors were net buyers of Korean stocks in August for the first time this year, snapping a seven-month selling streak, though the level remained modest after heavy selloffs in previous months. Overseas investors bought a net 344 billion won ($248.4 million) worth of locally listed shares last month, according to data released Friday by the Financial Supervisory Service. It marked their first monthly net purchase since December. The turnaround followed particularly heavy selling in rec

2026-09-18 14:16:42:00

Shinhan offers $200m financing as Central Asia push deepens

Shinhan Financial Group plans to make up to $200 million in financing available to financial institutions in Uzbekistan as it expands cooperation with the country and neighboring Kazakhstan. The group said Thursday it signed agreements with Uzbekistan's Ministry of Investment, Industry and Trade and Kazakhstan's state-owned development finance group Baiterek on Monday and Tuesday. Under the agreement with the Uzbek ministry, Shinhan will work toward providing the financing, jointly seek investme

2026-09-17 15:14:01:00

With Hanwha’s backing, LGI targets Indonesia’s top five

Lippo General Insurance is targeting a place among Indonesia’s top five general insurers within three to five years, after an overhaul under controlling shareholder Hanwha Insurance turned its loss-making health business into its biggest earnings contributor. “Our priority is not simply to grow in size or improve our ranking,” LGI President Director Agus Benjamin said in a recent interview with The Korea Herald. “We want to achieve sustainable growth based on the profitability-focused strategy w

2026-09-17 09:00:05:00

German lawmakers visit Korean tax agency for first time

Members of Germany's Bundestag visited Korea's National Tax Service for the first time to discuss digital tax administration and the use of artificial intelligence, the tax agency said Wednesday. NTS Commissioner Lim Kwang-hyun met Tuesday with a seven-member delegation led by Christian Goerke, acting chair of the Bundestag's Finance Committee, at the Seoul Regional Tax Office. Lim presented Korea's strategy for using big data and advancing AI transformation in tax administration, outlining the

2026-09-16 20:00:02:00

KB succession surprise reshapes year-end bank appointments

KB Financial Group’s surprise decision to pass over incumbent Chair Yang Jong-hee despite record earnings is reshaping expectations for year-end leadership changes across Korea’s financial industry and raising a broader question: Is strong performance still enough to win another term? The chief executives of the country’s five major commercial banks — KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank and NH NongHyup Bank — all see their terms expire Dec. 31. While the succession of a financia

2026-09-15 15:50:15:00

'We should not become complacent just because we are No. 1': KB chair nominee

KB Financial Group Chairman nominee Lee Jae-keun on Monday framed his selection as a mandate to push the country's leading financial group beyond its record-setting performance, while signaling continuity in its overall direction. "KB posted nearly 3.9 trillion won ($2.9 billion) in net profit in the first half, its best-ever performance, while its share price has also reached a record high," Lee told reporters at the group's headquarters on his first day as final candidate nominee. "I take my s

2026-09-14 15:00:59:00

KB taps Lee Jae-keun in surprise succession as growth challenges mount

KB Financial Group's choice of Lee Jae-keun as its next chairman nominee marks an unexpected break from continuity, putting the focus on whether the veteran banker can deliver new growth at Korea's largest financial group. The group's Chairman Recommendation Committee on Friday picked Lee, 60, currently chief business officer overseeing global, wealth management and corporate finance, over incumbent Chairman Yang Jong-hee, 65, and former Woori Bank CEO Kwon Kwang-seok, 63. The outcome defied bro

2026-09-13 14:55:18:00

Citi Foundation invests $25m to support youth skills in AI era

Citi Foundation said Thursday it has launched a $25 million global initiative to help young people build the skills needed for jobs increasingly shaped by artificial intelligence. The fourth Global Innovation Challenge will provide $500,000 each to 50 community organizations working to improve employment prospects for low-income youth. The programs will focus on both AI-related and human-centric skills, ranging from prompt engineering and digital content creation to problem-solving and critical

2026-09-10 15:38:18:00

63 Building draws 300,000 visitors in first 100 days after revamp

Seoul's landmark 63 Building has drawn about 300,000 visitors in the first 100 days since reopening as a revamped cultural and lifestyle complex, Hanwha Life Insurance said Thursday. The building, which reopened in June, marks its 100th day on Friday following a major renovation aimed at transforming the decades-old landmark from a destination best known for its observation deck into a venue combining art, dining, shopping and entertainment. At the center of the revamp is Pompidou Center Hanwha,

2026-09-10 14:25:07:00

Korea Eximbank expands Africa financing in AI, critical minerals

Korea Eximbank signed a pact with the African Development Bank to expand financing for African projects in artificial intelligence, critical minerals and green infrastructure, the state lender said Thursday. Korea Eximbank Chairman and President Hwang Ki-yeon and AfDB President Sidi Ould Tah signed the agreement Wednesday in Seoul during the eighth Korea-Africa Economic Cooperation Ministerial Conference. Under the agreement, the two institutions will seek to expand joint financing in areas incl

2026-09-10 14:24:44:00