Most Popular
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Actor Jung Woo-sung admits to being father of model Moon Ga-bi’s child
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Wealthy parents ditch Korean passports to get kids into international school
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First snow to fall in Seoul on Wednesday
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Man convicted after binge eating to avoid military service
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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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Final push to forge UN treaty on plastic pollution set to begin in Busan
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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S. Korea not to attend Sado mine memorial: foreign ministry
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Nvidia CEO signals Samsung’s imminent shipment of AI chips
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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FSC moves to roll over bad loans
Regulator instructs savings banks to secure sufficient cashThe financial authorities are moving to extend the maturity of bad loans the government purchased from savings banks in a bid to ensure a soft landing for the distressed industry.Between 2008 and 2010, the state-run Korea Asset Management Corp. acquired bad loans of savings banks. The latter are supposed to repurchase the loans in three ye
June 8, 2011
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Q1 growth revised down to 1.3%
The Korean economy expanded at a slower pace than estimated by the central bank in the first quarter on weak domestic demand.The gross domestic product grew 1.3 percent in the January-March period, falling short of the 1.4 percent estimate made in April, the Bank of Korea said Wednesday. Though the strongest performance in three quarters, the lower than expected figure reflects domestic demand mak
June 8, 2011
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Decentralizing business essential for R&D growth
Academics call for stronger IP protection and incentives for R&D programsFamed scholars of management consulting said decentralizing Korea’s business model driven by a few conglomerates is essential for inclusive growth based on innovations by smaller businesses.Management experts including Hermann Simon, author of “Hidden Champions of the 21st Century,” and Harvard University professor George Whi
June 8, 2011
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Seoul stocks fall 0.65% on economic woes
Korean stocks closed 0.65 percent lower on Tuesday as oil refiners and auto companies tumbled on economic slowdown fears and concerns over oil price falls, analysts said. The local currency lost ground against the U.S. dollar.The benchmark KOSPI skidded 13.76 points to 2,099.71, extending its losing run to a fourth straight session. Trading volume was light at 243.8 million shares, worth 6.1 trill
June 7, 2011
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BOK looks tilted toward rate freeze
Korea’s central bank may leave the key rate unchanged for the third straight month for June in the face of lingering economic uncertainty, including the eurozone debt woes, a poll showed Tuesday.Nine out of 15 economists forecast that the Bank of Korea will freeze the benchmark seven-day repo rate at 3 percent on Friday, according to the survey by Yonhap Infomax, the financial news arm of Yonhap N
June 7, 2011
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Credit card firms face weekly monitoring
Regulators mull business suspension, warning CEOs on violatorsCredit card companies which will fail to meet new regulatory standards will face tougher sanctions such as business suspension, financial regulators said Tuesday.In addition, regulators are expected to turn up the heat on card company CEOs as they are poised to issue a censure-level warning against rule-violators.As credit card issuers
June 7, 2011
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Shares expected to gain further ground this week
Korean stocks are expected to continue their upward trend this week on a series of events that may keep market sentiments afloat, analysts said.The benchmark Korea Composite Stock Price Index closed this week at 2,113.47, up 0.63 percent from a week earlier.The KOSPI lost ground at the beginning of last week, dipping to 2,093.79 on program and foreign sell-offs. The index rebounded to the 2,100 le
June 6, 2011
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Local food prices rise sharply in May
Local food product costs rose twice as fast as national consumer prices in May, fueling inflationary concerns that could exert a negative influence on economic growth, a government report showed Monday.The joint report by the Bank of Korea and Statistics Korea showed prices of 38 staples such as pork fat back cuts, various traditional stews and noodles shot up by more 8 percent last month compared
June 6, 2011
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Lone Star plans another dividend under new deal
Lone Star Fund is in talks with Hana Financial Group to recoup another quarterly dividend off the Korea Exchange Bank as part of its re-negotiation to sell its majority stake over to Hana, sources involved in the negotiation said Monday.The insider said details of the payout dividend are expected to arrive when the two officially extend the $4.3 billion takeover deal of KEB for six months. The two
June 6, 2011
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Two Credit Suisse staff indicted for stock fraud
Prosecution charges foreign brokerage workers for the first time; Kyobo Securities brokers also face trialThe prosecution said Sunday it had indicted two former employees of the Hong Kong branch of Credit Suisse Group AG on charges of manipulating Korean stocks.It is the first time staff of a foreign investment bank have been indicted in Korea on such charges, though there was a similar case invol
June 5, 2011
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Korea’s household debt figures ‘overstated’: Goldman Sachs
U.S. investment banking giant Goldman Sachs said Thursday that Korea’s household debt figures are exaggerated, and a liquidity crunch among indebted households is unlikely to occur, thanks to the country’s foreign exchange system.“We think that widely quoted household debt figures are overstated in Korea. ... The numbers, widely quoted by the press, overstate the extent of household indebtedness s
June 2, 2011
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Korea’s foreign reserves slide
Korea’s foreign exchange reserves shrank in May from the previous month as a stronger U.S. dollar reduced the conversion value of assets in other currencies, the central bank said Thursday.The country’s foreign reserves reached $305.08 billion as of the end of May, down $2.12 billion from April’s record high of $307.2 billion, according to the Bank of Korea. It was the first monthly decline since
June 2, 2011
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Seoul shares fall 1.27% on U.S., Greek strife
Korean stocks sank 1.27 percent on Thursday as investor sentiment was dented by downbeat U.S. economic data and a cut in Greece’s credit rating, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index tumbled 27.14 points to 2,114.2. Trading volume was moderate at 245.9 billion shares worth 7.19 trillion won ($6.7 billion), with losers outnumb
June 2, 2011
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KDB set to adopt ‘dual bank’ after merger with Woori
KDB Financial Group on Thursday expressed its wish not to merge the Korea Development Bank and Woori Bank for years even if it acquires Woori Financial Group.A group executive said, “a dual bank system on a long-term basis will be adopted under the scenario of the merger between KDB Financial and Woori Financial.”He dismissed the speculation that Woori Bank would be absorbed into the state-run KDB
June 2, 2011
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[Herald Interview] ‘Every corporation should embrace clean technologies’
Global corporations should pursue revenue opportunities in such clean technologies as solar cells and smart-grids to keep up with the trend toward a low-carbon economy, said Gil Forer, the head of Ernst & Young’s global cleantech unit.Forer said corporations should take advantage of transformational opportunities and adopt clean technologies.“A number of factors including the growth in world popul
June 2, 2011
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One third of employers see skills shortage: ManpowerGroup
One in three employers worldwide is experiencing difficulty filling vacancies due to lack of available talent despite an over-supply of available workers, staffing company ManpowerGroup said Thursday.In its sixth annual Talent Shortage Survey, the U.S.-based company said 90 percent of employers across Asia, Europe, the Middle East and Africa have problems filling critical positions, citing a lack
June 2, 2011
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Samsung, POSTECH may sue KTB Asset
Chang denies advice on corrupt investment in Busan Savings BankThe snowballing lobby scandal involving Busan Savings Bank is taking a new twist as two scholarship foundations threatened to sue an asset management agency, claiming that it advised them to invest in the failing bank.The private Pohang University of Science and Technology and Samsung Dream Scholarship Foundation said they would file a
June 1, 2011
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Investment banks expect Korea’s inflation to grow 4.1 percent
Global investment banks forecast Korea’s consumer prices to increase more than 4 percent this year, citing sustained economic growth and high oil prices, data showed Wednesday.The average of inflation projections made in May by nine foreign investment banks, including Barclays Capital, rose to 4.1 percent from the 3.9 percent predicted in the previous month, according to the data provided by the K
June 1, 2011
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Seoul shares end flat on auto falls, bank gains
Korean stocks finished nearly unchanged on Wednesday as losses among automakers outweighed bank gains, analysts said. The local currency climbed against the U.S. dollar.After opening slightly higher, the benchmark KOSPI shed 0.05 percent, or 1.13 points to 2,141.34. Trading volume was moderate at 289 million shares worth 8.02 trillion won ($7.44 billion) with losers leading gainers 437 to 382. “Th
June 1, 2011
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Hana Financial strives to revive KEB deal
FSC hints at ruling against Lone Star ownershipHana Financial Group is striving to maintain its position as the provisional acquirer of Korea Exchange Bank after the preliminary deal with the bank’s biggest shareholder expired a week ago.Though Hana Financial officials had said the group would soon announce the extension of the deal with U.S.-based Lone Star Funds, which holds a 51 percent stake i
June 1, 2011
![[Herald Interview] ‘Every corporation should embrace clean technologies’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/06/02/20110602000433_0.jpg&u=20110602184136)
