Most Popular
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Blackpink's solo journeys: Complementary paths, not competition
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Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
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Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid
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[Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts
![[Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050099_0.jpg&u=20241121172748)
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Dongduk Women’s University halts coeducation talks
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Defense ministry denies special treatment for BTS’ V amid phone use allegations
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OpenAI in talks with Samsung to power AI features, report says
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Two jailed for forcing disabled teens into prostitution
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Disney+ offers sneak peek at 2025 lineup of Korean originals
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South Korean military plans to launch new division for future warfare
![[Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050099_0.jpg&u=20241121172748)
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Brokerage firms' net income rises on brisk stock trade
The net profits of 54 securities firms in South Korea rose 1.5 percent on-quarter to 621.4 billion won ($557.8 million) in the second quarter of the year, government data showed Monday.Revenue from brokerage commissions came to 1.99 trillion won during the period, up 13.5 percent from a quarter earlier, on an increase in the stock trade following the Bank of Korea's interest rate cut and Britain's decision to leave the European Union, according to the data compiled by the Financial Supervisory S
Aug. 29, 2016
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Expectations grow for US rate hike in September
Since the US Federal Reserve signaled last week that it was close to raising its interest rates soon, economic policymakers in Seoul are on edge for the potential impact to Korea’s fragile economy and financial markets. The heightened likelihood of the US tightening as early as next month complicates the job of the Bank of Korea, in particular, which already faces a tough balancing act between the desire to support growth and worries over rising household debt levels.Federal Reserve Chair Janet
Aug. 28, 2016
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Daily card spending hits record high in first half
South Koreans spent 2.03 trillion won ($1.82 billion) on a daily basis with their credit cards in the first half of the year, as they opted for a convenient payment tool, data showed Sunday.According to the data compiled by the Bank of Korea, the first-half tally marks the first time that credit card spending on a daily basis exceeded 2 trillion won, and represents a 12 percent rise from a year earlier.The figure includes spending by credit cards, debit cards and prepaid ones.By type, credit car
Aug. 28, 2016
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Banks' credit exposure to Hanjin Shipping estimated at 1.02 tln won
Local banks' credit exposure to cash-strapped Hanjin Shipping Co. is estimated at 1.02 trillion won ($915 million), but they have already set aside sufficient provisions against the loans, industry sources said Sunday.According to the sources, the state-run Korea Development Bank, KEB-Hana Bank and other banks extended a total of 1.02 trillion won to the country's No. 1 shipper.The main creditor, KDB, has credit exposure of 660 billion won, followed by KEB-Hana Bank with 89 billion won, NH Nongh
Aug. 28, 2016
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Iran, South Korea to begin trade in euros
TEHRAN (AFP) -- Iran and South Korea are to start trading in euros, legally circumventing US sanctions on dollar transactions with Tehran, a senior official announced Friday.After months of talks with Washington, at the urging of Iran, Seoul will "with US approval... convert South Korean won to euros without any direct intervention of dollars", Deputy Foreign Minister Hamid Baedinejad said on his Instagram page.If other countries with "local and limited currencies" also traded in euros, it would
Aug. 26, 2016
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Samsung’s financial units relocate to Seocho
Samsung Asset Management said on Friday the company will start its operations in the Seocho Samsung Town starting Monday, marking the beginning of the realignment of the group’s financial units. According to the asset management subsidiary, it will complete the move-in of around 300 employees over the weekend and begin operations in the building that was previously occupied by Samsung Electronics. The company operated in Yeouido for 13 years and in the Taepyeongro building for five years. During
Aug. 26, 2016
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Kookmin Bank opens new center for foreign investors
KB Kookmin Bank said on Friday it opened a new foreign investor support center in southern Seoul in a bid to increase convenience for overseas investors when they are considering investments in Korea. The new center is located at the KB Insurance building on the Teheran Road in Gangnam, which will be a new hub for foreign investment connecting them with Korean businesses. The bank plans to provide one-stop services ranging from legal, taxation to financial services regarding making investments i
Aug. 26, 2016
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Bank lending rates on household loans decline in July
Bank lending rates on new household loans dropped from a month earlier in July and interest paid by banks on new deposits also fell, central bank data showed Friday.The average interest rate on fresh household loans extended by local banks came to 2.96 percent last month, down 0.10 percentage point from the previous month, according to the Bank of Korea.The July reading marked the fourth consecutive months of drop.The decline could prompt additional household borrowing, which had reached a recor
Aug. 26, 2016
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Korean finance minister meets with Fitch delegation
South Korea's finance minister held a meeting with the delegation head of global credit rating agency Fitch Ratings Inc. to exchange their views on the recent economic situation and the country's macroeconomic policies, the finance ministry here said Friday.In a meeting with Finance Minister Yoo Il-ho in Seoul, Thomas Rookmaaker, head of Asia-Pacific sovereigns at Fitch, said South Korea has seen steady economic growth and maintained fiscal soundness, along with its efforts to push forward with
Aug. 26, 2016
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Seoul's anti-debt steps not to weigh on builders: analysts
South Korea's latest measures against soaring household debt are unlikely to impact large private builders much as they are focused on curbing the supply of new apartments by a state housing developer, analysts said Friday.In a bid to tackle snowballing household debt, Seoul announced a package of measures Thursday that calls for the development of fresh residential areas and scale down of the supply of new apartments by state-owned Korea Land and Housing Corp., among others.In a note to clients
Aug. 26, 2016
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Korea to sell 6.5 tln won worth of state bonds in September
South Korea plans to sell 6.5 trillion won ($5.8 billion) worth of state bonds next month, the finance ministry said Thursday.The government will issue 1.6 trillion won worth of bonds with a maturity of three years and 1.4 trillion won worth of five-year bonds.It also plans to sell 1.8 trillion won worth of 10-year bonds and a combined 1.7 trillion won of bonds with a maturity of between20 and 30 years.The finance ministry said the government will repay state debt worth a combined 1.95 trillion
Aug. 25, 2016
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Mobile-focused Naver rises, while O2O-centered Kakao declines
The market valuations of tech giants Naver and Kakao stand in stark contrast, with their mobile strategies expected to affect their profitability in the opposite directions. According to Oh Dong-hwan, an analyst at Samsung Securities, the valuation of Naver is on the rise due to its mobile-focused strategies, while that of Kakao is going downhill as it seeks offline-to-online business models. The country’s largest portal Naver will continue to post annual growth rates of around 20 percent based
Aug. 25, 2016
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Mobile-focused Naver rises, while O2O-centered Kakao declines
The market valuations of tech giants Naver and Kakao stand in stark contrast, with their mobile strategies expected to affect their profitability in the opposite directions. According to Oh Dong-hwan, an analyst at Samsung Securities, the valuation of Naver is on the rise due to its mobile-focused strategies, while that of Kakao is going downhill as it seeks offline-to-online business models. The country’s largest portal Naver will continue to post annual growth rates of around 20 percent based
Aug. 25, 2016
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Woori Bank expands mobile overseas remittance, cuts fees
Woori Bank has expanded its mobile remittance services to 16 countries, the lender said Thursday. Customers can now wire money to the US, UK, Bangladesh, Australia, India and United Arab Emirates via the bank’s mobile platform WiBee Bank, in addition to the 10 countries already available. The fee has also been cut from the previous 8,000 won to 5,000 won per transaction. Money transfers are available 24/7 on WiBee Bank, which is downloadable on mobile devices for both Android and iOS. The servic
Aug. 25, 2016
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Korean stocks remain flat in late morning trade
South Korean shares remained nearly flat on late Thursday morning as investors took to the sidelines amid an apparent lack of leads.The benchmark Korea Composite Stock Price Index stood at 2,043.98 as of 11:20 a.m., inching up 0.22 point or 0.01 percent from the previous session's close.The index opened slightly lower following overnight losses on Wall Street.The Dow Jones industrial average slipped 0.35 percent to close at 18,481.48, with the tech-heavy Nasdaq plunging 0.81 percent to 5,217.69.
Aug. 25, 2016
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Currency swap not on agenda for finance ministers of Korea, Japan
South Korea and Japan will hold a finance ministers' meeting this weekend to discuss various economic and financial topics, the finance ministry here said Thursday.South Korea's Finance Minister Yoo Il-ho and his Japanese counterpart Taro Aso will meet in Seoul on Saturday, with 70 officials, including vice ministers, from the two countries having working-level sessions before and after the meeting, according to the Ministry of Strategy and Finance.The upcoming bilateral meeting will be the seve
Aug. 25, 2016
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Korean shares open lower on oil price woes
South Korean shares opened slightly lower Thursday as investors became wary of recent dips in global oil prices.The benchmark Korea Composite Stock Price Index lost 4.45 points, or 0.22 percent, to 2,039.31 in the first 15 minutes of trading.The decline also followed overnight losses on Wall Street.The Dow Jones industrial average slipped 0.35 percent to close at 18,481.48, with the tech-heavy Nasdaq plunging 0.81 percent to 5,217.69.Investors were apparently spooked by an earlier report that US
Aug. 25, 2016
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Shares of firms with higher foreign ownership gain more
South Korea's listed companies with increased foreign ownership saw their share prices climb relatively more than their peers this month, data showed Thursday.According to the data by Daishin Securities Co., the top 20 issues in terms of foreign ownership gains reported an average return rate of 6.32 percent in the first 23 days of August.The yield rate dwarfed the comparable 1.67 percent for the entire main KOSPI market. Out of the 20 companies, 15 saw their share prices gain ground.Electronic
Aug. 25, 2016
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Korean stocks close lower on US rate hike, oil price concerns
South Korean shares closed slightly lower Wednesday as foreigners turned to selling amid concerns of a US rate hike and a further decline in global oil prices. The local currency lost ground against the US greenback.The benchmark Korea Composite Stock Price Index slipped 6.17 points, or 0.3 percent, to 2,043.76. Trading volume was slim at 280.2 million shares worth 4.03 trillion won ($3.59 billion).Gainers outnumbered losers 404 to 388.The index opened slightly higher but later pared earlier gai
Aug. 24, 2016
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Korean stock market to use AI for monitoring
South Korea will set up a new stock market monitoring system using artificial intelligence by 2018, the nation's bourse operator announced Wednesday.The move is intended to counter unfair stock trading taking advantage of information technology, social micro-blogging sites and robo-advisors, according to the Korea Exchange."Market monitoring to predict and early warn of abnormal trading is necessary by using IT based on big data and AI," said Kim Young-choon, head of the market oversight system
Aug. 24, 2016
