[Photo News] Hana Bank opens FX transaction center

Hana Bank CEO Lee Ho-sung (fourth from left), Barun Law Managing Partner Lee Dong-hoon (third from left), Yulchon Chairman and Managing Partner Kang Seok-hoon (fifth from left) and other officials pose during a ribbon-cutting ceremony for the bank's new Foreign Exchange Capital Transaction Center at Place 1 in Samseong-dong, southern Seoul, on Tuesday. The center will offer one-stop services covering foreign direct investment, overseas investment and relocation-related financing, while working w

2026-08-12 11:42:05:00

Stock rout shakes confidence, not Korea’s fundamentals

South Korea’s stock-market turmoil has shaken investor confidence but has yet to spill into the broader economy or financial system, highlighting a widening gap between the country’s resilient fundamentals and unusually volatile equity trading. The Korean economy expanded 3.8 percent on-year in the first half, accelerating from 1.8 percent in the second half of last year. Domestic demand has remained resilient, while gains in shipbuilding, biohealth and cosmetics have joined strong semiconductor

2026-08-11 17:01:55:00

[Photo News] Hana Financial honors fallen heroes

Hana Financial Group Chairman Ham Young-joo pays tribute at the Memorial Tower of Seoul National Cemetery in Dongjak-gu, Seoul, on Monday, ahead of the 81st anniversary of Korea's liberation. On the same day, the group signed a memorandum of understanding with the Ministry of Patriots and Veterans Affairs to improve grave sites and visitor facilities at national cemeteries. Under the agreement, the group will refurbish about 2,000 aging gravestones at Seoul and Daejeon national cemeteries and in

2026-08-11 14:53:10:00

Fitch sees limited credit fallout from Korea stock rout

Fitch Ratings sees little sign that South Korea's stock-market rout is spilling into broader credit stress, but says the turmoil has exposed vulnerabilities stemming from market concentration and the rapid growth of leveraged products. "Market concentration does amplify sensitivity to sentiment-driven swings, and this warrants monitoring," Rowena Chen, director of APAC nonbank financial institutions ratings at Fitch, told The Korea Herald Friday. Leveraged products could also increase "the speed

2026-08-10 16:21:49:00

‘Stronger than ever’: Finance chief rejects ‘uninvestable’ Korea claim

South Korea's finance chief on Thursday pushed back against concerns raised by foreign media over investing in the country's stock market, saying the economy remains robust and domestic stock indexes are stabilizing. "While the outlet has raised concerns about investing in the Korean stock market, the Korean economy is stronger than ever and delivering unprecedented results," Deputy Prime Minister and Finance Minister Koo Yun-cheol said at a meeting of economy-related ministers in Seoul. Koo cit

2026-08-06 11:23:18:00

Hana Financial deploys W1.86tr for inclusive finance in H1

Hana Financial Group deployed more than 1.86 trillion won ($1.3 billion), or 60 percent, of its annual inclusive finance target in the first half as it stepped up support for young people, small businesses and vulnerable borrowers. The group set a 3.1 trillion won target for 2026 under an inclusive finance roadmap unveiled in May. To strengthen oversight of the initiative, it appointed Vice Chairman Lee Seung-lyul, who oversees sustainable growth and inclusive finance, as chief inclusive finance

2026-08-05 14:36:09:00

Kakao Bank’s H1 profit jumps 24% on fee, treasury gains

Kakao Bank posted record first-half profit as rising fee income and gains from treasury operations helped offset slower household lending under regulatory curbs. Net income climbed 24.4 percent from a year earlier to 328 billion won ($229.7 million) in the first six months of the year, the internet-only lender said Wednesday. Second-quarter profit rose 11.5 percent to 140.8 billion won. Operating revenue increased 5.5 percent to 1.65 trillion won. Noninterest income, excluding interest earned on

2026-08-05 14:36:01:00

Samsung chief tops dividend earners in H1

Samsung Electronics Executive Chairman Lee Jae-yong received 72.8 billion won ($50.9 million) in dividends in the first half of the year, the highest amount among individual shareholders, as more Korean listed companies stepped up payouts. Corporate tracker Leaders Index said Tuesday that 127 listed companies had declared quarterly or half-year dividends as of Monday, up 48 percent from 86 a year earlier. The survey covered 2,873 listed companies. Their combined first-half dividends rose 18.4 pe

2026-08-04 14:07:27:00

Korea tax overhaul rewards resident homeowners, targets multiple properties

South Korea unveiled its 2026 tax reform package Monday, proposing lower housing taxes for most single-home owner-occupiers but heavier burdens on expensive, rented-out and multiple properties. The package also raises the optional flat tax rate for foreign workers and introduces production-based incentives for strategic industries. "This year's tax reform focuses on supporting sustainable economic growth and livelihood stability through the tax system," Deputy Prime Minister and Finance Minister

2026-08-03 18:01:00:00

Kospi jumps 18% to post record daily gain

South Korean stocks posted their largest daily gain on record Friday, as a chip-led rebound and massive foreign buying lifted the Kospi by more than 1,000 points. The benchmark Kospi closed at 6,595.45, up 1,001.89 points, or 17.91 percent, marking record daily gains in both point and percentage terms. It opened just 1.15 percent higher at 5,657.79 before rapidly climbing by double digits to reach an intraday high of 6,630.77, up 18.5 percent. A buy-side sidecar was triggered on the Kospi at 9:0

2026-07-31 17:00:37:00