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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Bank chiefs see slowing household debt
[THE INVESTOR] Household debt increase rate will drop during the second half of the year, the chiefs of South Korean commercial banks said on July 21.Speaking at a meeting with Bank of Korea Gov. Lee Ju-yeol, they forecast a drop in the rate due to the efforts made by the government and banks. Saying that the effects of the measures rolled out by the financial authorities and the banks’ risk management will start to show during the second half despite the rapid increase seen during the first six
July 21, 2016
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Korean insurers’ overseas investments hit all-time high
[THE INVESTOR] South Korean insurance companies’ investments overseas rose to a record high in the first quarter in 2016 as they are branching out into higher-return foreign assets to combat falling yields at home.Local insurers committed US$49.4 billion for foreign assets and companies during the January-March period, up 15.9 percent from a quarter earlier or up 50.9 percent on-year, according to data from financial investment industry. The Q1 figure remarks the all-time high amount and has sur
July 21, 2016
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Finance union to stage nationwide strike in September
[THE INVESTOR] The Korean Financial Industry Union announced on July 20 that it will stage a nationwide strike in September.The union put the strike plans to the vote on July 19, and 95.7 percent of the voting members approved the plans. The industry union said that of the 95,168 members, 82,633 participated in the vote. If the financial union goes ahead with the plans, it will be the first time since September 2014 that the union will go on a nationwide strike. The Korean Financial Industry Uni
July 20, 2016
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Seoul will improve conditions for foreign financial instutions
[THE INVESTOR] Seoul will review the country’s financial industry environment for any shortcomings vis-a-vis global standards, Financial Services Commission Vice Chairman Jeong Eun-bo said on July 20.“(The financial authorities) will review whether there are elements in (South Korea’s) financial environment that fall short of global standards,” Jeong said at a meeting the chiefs of foreign financial institutions’ South Korean operations, saying that concerns are growing over their decision to re
July 20, 2016
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Woori Bank Q2 net income jumps 35%
[THE INVESTOR] Woori Bank, South Korea’s largest bank in terms of consolidated assets, posted a 35 percent on-year surge in its second-quarter net profits as its exposure to debt-ridden companies abates.The lender’s second-quarter net income surged to 307 billion won (US$269.81 million), up 35.8 percent on-year. “Given that Woori spent some 92 billion won to carry out an early retirement program during the second quarter, it posted net profit of over 400 billion won for two consecutive quarters,
July 19, 2016
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Korean banks rush to issue foreign currency bonds
[THE INVESTOR] Commercial and state-run banks of South Korea are planning massive foreign currency-denominated bond issuances in the second half of the year. According to industry sources, KB Kookmin Bank is planning to raise US$1 billion by issuing foreign currency denominated bonds. The bank is reported to be planning two issuances of equal amount. The first is set for between late July and early August, and the second is planned for sometime between October and November. Headquarters of KB K
July 18, 2016
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Moody’s to be sole owner of Korea Investors Service
[THE INVESTOR] Moody’s Investors Service will become sole owner of Korea Investors Service, local media reported on July 18. According to reports, NICE Holdings agreed to sell all Korea Investors Service shares held by its subsidiary NICE Infra to Moody’s. NICE Infra currently holds one share less than half of Korea Investors Service. Once the deal is complete, Korea Investors Service will wholly owned by Moody’s. The global ratings agency first acquired a stake in Korea Investors Service in 199
July 18, 2016
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Household debt rises despite gov’t projections
[THE INVESTOR] South Korea’s household debt jumped more than 36 trillion won (US$ 31.70 billion) during the first five months of the year, Bank of Korea data showed. The rate of increase is higher than that recorded in the same period last year, in stark contrast to the government’s projections that the rate of increase will drop. According to the data, loans taken out by Korean households taken out from all depository institutions increased by 36.21 trillion won during the first five months of
July 18, 2016
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NPS seeks damages from DSME
[THE INVESTOR] National Pension Service has filed a 48.9 billion won (US$ 43 million) compensation suit against Daewoo Shipbuilding and Marine Engineering, it was revealed on July 14.The NPS said that it has filed a suit against 10 Deloitte Anjin, and DSME executives. It did not elaborate on how the amount was calculated. The prosecution investigating corruption at the shipbuilder estimates that DSME’s mismanagement led to the country’s financial industry sustaining more than 10 trillion won in
July 14, 2016
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SFC fines Yuanta Securities W2b
[THE INVESTOR] Yuanta Securities Korea has been slapped with a fine of 2 billion won (US$ 1.76 million) for omitting transactions with affiliated entities in its regulatory filings, the securities regulator said July 14.The Securities and Futures Commission noted that the company will also be audited by an external auditor designated by the state for two years. The company omitted real estate transactions with an affiliated person, and monetary transactions between a subsidiary and an affiliated
July 14, 2016
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S. Korea’s home-backed loans reach record high
[THE INVESTOR] South Korea’s household debt secured against residential properties broke the 500 trillion won (US$ 436 billion) mark for the first time in June, central back data showed on July 13. According to the Bank of Korea, household debt secured against residential properties rose 4.8 trillion won in June to reach 500.9 trillion won. Overall household debt hit 667.5 trillion won, up 6.6 trillion won from May. Compared to end of June 2015, the figure is 28.4 trillion won higher. Experts sa
July 13, 2016
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Brokerages expand investment banking on increased M&A activity
[THE INVESTOR] Investment banking at local brokerages grew more than 41 percent from 2013 to 2015, with volume reaching 158.5 trillion won (US$137.65 million) last year, according to a local think tank. A recent rise in merger and acquisition deals involving South Korean firms was cited as one of the main drivers behind the growth. The Korea ExchangeIn 2013, brokerages engaged in 112.17 trillion won worth of investment banking, but the figure expanded by 41.3 percent, said the Korea Capital Mark
July 13, 2016
