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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Trump picks ex-N. Korea policy official as his principal deputy national security adviser
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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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S. Korea not to attend Sado mine memorial: foreign ministry
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Toxins at 622 times legal limit found in kids' clothes from Chinese platforms
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Korea to hold own memorial for forced labor victims, boycotting Japan’s
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[Weekender] Korea's traditional sauce culture gains global recognition
![[Weekender] Korea's traditional sauce culture gains global recognition](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050153_0.jpg&u=20241123224317)
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BLACKPINK's Rose stays at No. 3 on British Official Singles chart with 'APT.'
![[Weekender] Korea's traditional sauce culture gains global recognition](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/11/21/20241121050153_0.jpg&u=20241123224317)
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Finance chief-nominee to prioritize inflation fight
Finance minister nominee Bahk Jae-wan said the fight against inflation will stay as the priority with focus on flexible macroeconomic measures, revealing his intention to maintain the policy stance currently in place.Answering questions at the parliamentary confirmation hearing on Wednesday, Bahk said he will try to make people in the middle class and low-income brackets feel the improving busines
May 25, 2011
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Hana calls emergency meeting on Lone Star
Board to discuss on eurozone woes possible extension of KEB takeover dealHana Financial Group plans to hold an emergency board meeting as early as this week to conclude the issue on whether to extend the expiry date of a takeover deal with U.S. Lone Star Funds.The initial contract between Hana and Lone Star to trade shares of Korea Exchange Bank expired on May 24 and they have all been entitled to
May 25, 2011
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Korea aims to launch 1st local hedge fund
Korea is moving to quicken a regulatory revision in a bid to launch the first local hedge fund within the year, an official at the financial regulator said.The Financial Services Commission had planned to submit a revision bill to the capital market law to parliament in July or August as part of its efforts to spur the creation of local hedge funds. Instead of rewriting the law, the FSC will seek
May 24, 2011
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Hyundai seeks to sell 30,000 hybrid cars next year
South Korea's largest automaker Hyundai Motor Group will seek to significantly increase its sales of energy-efficient hybrid cars next week, group officials said Tuesday, amid increasing government efforts to promote the use of clean energy.Hyundai Motor Group, the world's fifth-largest automaker, has the country's two leading automakers Hyundai Motor Co. and Kia Motors Corp. under its wing."The g
May 24, 2011
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Top regulator hints Lone Star’s KEB sale possible
Financial Services Commission Chairman Kim Seok-dong said it would not be easy to order U.S. Lone Star Funds to sell its stake in Korea Exchange Bank by directing “concrete” sale terms.His remarks are based on the assumption that the financial regulator will decide to issue a sanction of coercive stake sale against the Texas-based buyout fund, suspected of stock manipulation.“(Under the scenario o
May 24, 2011
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Hwang first Asian to head global securities lobby group
KOFIA chairman becomes head of International Council of Securities AssociationHwang Kun-ho, chairman of the Korea Financial Investment Association, was elected to head the International Council of Securities Association, the local body announced Tuesday.Hwang became the first Asian chief of the international body of practitioners promoting the common interest of securities companies worldwide.“I h
May 24, 2011
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Shares tumble 2.64 percent on foreign selling
Korean stocks plunged 2.64 percent on Monday as foreign investors unleashed holdings on falling risk appetite, analysts said. The local currency dipped against the U.S. dollar.The benchmark Korea Composite Stock Price Index plunged 55.79 points to 2,055.71. Trading volume was moderate at 289.8 million shares worth 6.24 trillion won ($5.7 billion), with losers far outnumbering gainers 691 to 146.“F
May 23, 2011
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Bidding for 7 savings banks to begin today
Bidding competition for debt-saddled ailing savings banks in business suspension will be launched Tuesday, according to the Korea Deposit Insurance Corp.The state-run KDIC has decided to make a public notice for sale of the seven savings banks on Tuesday, aiming to select preferred bidders by July.In a bid to induce close competition and fast conclusion of deals, the government agency will lower t
May 23, 2011
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Rising utility bills, food costs fan inflation fears
The government is considering raising public utility prices in the coming months to correct the growing deficit by major public corporations plagued by rising raw material and production costs.Burdened by rising prices in grain, sugar, corn and wheat, food makers are also expected to raise the prices of processed foods in the second half. Seoul is mulling raising subway fares by 300 to 400 won aft
May 23, 2011
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Irrespective of sanctions, Lone Star could sell shares to Hana Financial
Financial regulatory officials have floated the possibility that Lone Star Funds could be ordered to sell most of its controlling stake in Korea Exchange Bank under a punitive action.Such a scenario could raise the issue of whether the Texas-based buyout fund would still be allowed to choose a particular investor, including Hana Financial Group, to dispose of the KEB shares.The headquarters of Kor
May 22, 2011
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No. of elderly weddings doubles in 10 years
Getting married is becoming increasingly popular among the elderly. Over 18,791 couples aged 50 years old or more got married last year alone, the highest figure on record. According to Statistics Korea, The number is 3.7 times increase from 1990 when only 5,014 couples in the same age group chose to wed their partner. It is also almost double the 8,928 newly married elderly couples in 2000.“The p
May 20, 2011
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Hana says will agree KEB deadline delay with Lone Star
Hana Fnancial Group chairman Kim Seung-yu said Friday that his company would be able to agree with the U.S. Lone Star Funds to extend the deadline for the takeover of Korea Exchange Bank. “We can draw a conclusion by next weekend,” Kim told The Herald Business, the sister paper of The Korea Herald.The two sides are in talks to extend their May 24 deadline. Kim reportedly flew to Tokyo on Wednesday
May 20, 2011
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State pension fund CEO stresses shareholder rights
Korea's national pension fund needs to rigorously exercise its shareholder rights as it is along-term investor with massive assets under management, its headsaid Thursday.Controversy has heated up over whether pension funds should exercise their shareholder rights in the country's family-ownedconglomerates since Kwak Seung-joon, a key presidential aide,brought up the issue last month."Exercising s
May 19, 2011
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Banks ordered to cut down forward trading
The financial authorities will soon instruct banks to slash their forward trading, as part of government measures to crack down currency speculation by regulating foreign exchange positions.The Ministry of Strategy and Finance and the Bank of Korea said on Thursday that they have decided to order banks dealing with foreign currency trading to reduce the ceiling of forward trading by about 20 perce
May 19, 2011
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Hana-KEB deal delay weakens both: Moody’s
Analyst says extended FSC deadlock especially damaging for KEBThe financial regulator’s delay in approving Hana Financial Group’s bid of Korea Exchange Bank is credit negative for both lenders but especially for the lender long been put up for sale, credit rating agency Moody’s said Thursday. “We gave an A2 to KEB because one, their performance was good and two, we expected it to be sold over to H
May 19, 2011
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[Herald Interview] ‘Tighter rules needed before Woori sale’
Bancorp CEO says new rules would be desirable for megabanks in KoreaBetsy Cohen, founder and CEO of U.S. internet retail bank Bancorp Inc., said tightening capital and liquidity rules should come before the creation of the megabank due to be formed by the privatization of Woori Financial Holdings.“Size is not protected easily. Activities of large institutions carry a great deal of risk for a wider
May 19, 2011
![[Herald Interview] ‘Tighter rules needed before Woori sale’](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/05/19/20110519000927_0.jpg&u=20110519184040)
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[Herald Interview] ‘Electronic traveler’s checks gaining popularity’
An electronic version of the traveler’s check, which has gained popularity among Western travelers for its convenience and security, is also drawing interest in Korea.“In the past, we prepared traveler’s checks when going on a trip, but these days we need to hold a traveler’s card instead of traveler’s checks,” said Richard Kim, country manager of Card Services Korea. Card Services Korea country m
May 19, 2011
![[Herald Interview] ‘Electronic traveler’s checks gaining popularity’](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/05/19/20110519000778_0.jpg&u=20110519183943)
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IMF's Strauss-Kahn resigns amid sex charges
Dominique Strauss-Kahn (AP-Yonhap News)WASHINGTON (AP) _ Dominique Strauss-Kahn, the embattled managing director of International Monetary Fund, resigned saying he wanted to devote ``all his energy'' to battle the sexual assault charges he faces in New York.The IMF's executive board released a letter from the French executive Wednesday in which he denied the allegations lodged against him but said
May 19, 2011
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Hyundai Capital faces sanctions over hacking case
The financial watchdog said Tuesday that it is considering penalizing Hyundai Capital and several of its staff for incurring cyber attacks due to negligent internal controls.Those subject to the regulatory sanctions will possibly include several executives, including CEO Ted Chung, of the loan issuance company jointly owned by Hyundai Motor Group and U.S.-based GE Capital, the Financial Supervisor
May 18, 2011
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Korea rises to 22nd in global competitiveness
By Cynthia J. KimKorea’s rating in the World Competitiveness Yearbook by a Switzerland business school rose by one place to No. 22 this year, the highest level the country has reached since joining the list in 1997.The annual report of the world’s 59 most competitive countries by the International Institution for Management Development ranked Korea higher on government and business efficiency, rai
May 18, 2011
![[Herald Interview] ‘Tighter rules needed before Woori sale’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/05/19/20110519000927_0.jpg&u=20110519184040)
![[Herald Interview] ‘Electronic traveler’s checks gaining popularity’](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2011/05/19/20110519000778_0.jpg&u=20110519183943)
