Toss Bank, South Korea’s third internet-only bank, commenced full operations on Tuesday, highlighting its user-friendly financial services that differentiate itself from rivals quickly expanding their presence in the emerging market. Under the slogan of “New Banking, New Bank,” the online-only lender showcased its convenient deposit banking and loan service fit for as many users as possible, including thin filers with little credit history and low-credit borrowers. “Ev

Market Oct. 5, 2021

South Korea’s stock market slumped in September on the back of the debt crisis involving Evergrande Group, one of China’s biggest property developers, and a hint by the US Federal Reserve that it would begin tapering. According to the Korea Exchange, the country’s stock market operator, the benchmark Kospi lost 4.08 percent to 3,068.82 points during September. The secondary tech-heavy Kosdaq shed 3.88 percent to close at 1,003.27 points during the same period. Kospi’s

Market Oct. 1, 2021

Over half of young people living in Seoul say they couldn’t buy a home without the help of their parents, data showed Friday. According to a survey conducted by the Seoul Institute, a think tank under the Seoul Metropolitan Government, 53 percent out of 676 Seoul citizens ranging in age from 18 to 34 said that it would be impossible to purchase a house without financial support from their parents. The nationwide average is 46 percent. While 44 percent of respondents said that they would

Market Oct. 1, 2021

South Korean game developer Gamevil said Thursday it will become the second-largest shareholder of Coinone by acquiring a 22 percent stake in the cryptocurrency exchange. During a board meeting Wednesday, the company, through its fully owned subsidiary Gamevil Plus, decided to buy 151,218 shares of the digital coin exchange for 53.9 billion won ($45.5 million). After the additional share purchase slated for January next year, Gamevil will hold a 38 percent stake in Coinone. 　 “The acq

Market Sept. 30, 2021

오세훈 서울시장이 “여의도를 디지털 금융특구로 조성할 계획”이라며 ”ESG 실천을 통해 글로벌 투자를 유치할 역할을 하게될 것“이라고 밝혔다. 28일 서울 포시즌스 호텔에서 열린 ‘2021 코리아헤럴드 금융투자포럼’에서 오 시장은 지난 15일 서울시가 발표한 서울비전 2030 마스터플랜을 강조하며, “서울 소재 해외금융기관을 250개까지 확대하고, 도시 차원의 투자전담기관인 ‘서울투자청’도 설립할 것”이라고 덧붙였다. 　 오 시장은 “코로나 팬데믹이 불러온 급격한 사회경제적 변화로 ESG경영과 디지털을 기반으로 한 산업이 미래 금융의 판도를 바꾸고 있다”며 “서울이 ESG(환경·사회·지배구조) 금융허브의 선도 모델이 되도록 민간의 자발적 참여를 유도하고 기업의 ESG 실천노력을 적극 뒷받침할 것“이라고 말

한국어판 Sept. 29, 2021

한국이 포스트 코로나 시대 지속가능한 경제성장 궤도에 올라서기 위해서는 ‘ESG(환경·사회·지배구조) 대전환’을 전제로 한 생태계 조성에 힘써야 한다는 제언이 나왔다. 　 코리아헤럴드가 28일 ‘한국의 ESG 혁신: 팬데믹 이후의 그린슈트 (Korea‘s ESG revolution: Green shoots after the pandemic)’란 주제로 주최한 ‘2021 코리아헤럴드 금융투자포럼’에 참석한 정부 관료와 국회의원, 금융기업인 등은 이같이 주장했다. 그린 슈트란 ”침체된 경기가 회복될 국면을 맞이한 상황“을 뜻하는 경제 용어로, 포스트 코로나 시대 경제 성장 곡선에 재진입할 가능성을 의미한다. 　 축사를 맡은 윤재옥 국회 정무위원장은 “ESG가 거대한 흐름에 내맡겨진 채 속도만 내려고 하려다보면 방향을 제대로 잡을 수 없을 것”이

한국어판 Sept. 29, 2021

“국민연금공단은 국내 기업 투자 시 지배구조뿐 아니라 환경·사회적 책임 이행 여부를 중점적으로 볼 것이다.” 김용진 국민연금공단 이사장은 28일 서울 포시즌스 호텔에서 열린 ‘2021 코리아헤럴드 금융투자포럼’ 기조연설에서 이 같이 밝혔다. 김 이사장은 기업과의 소통을 통해 그들의 ESG 경영을 활성화 시킬 것이라는 점도 분명히 했다. 그는 “국민연금은 연금의 ESG 책임투자활동 방향을 기업들에게 투명하게 공개하고 이를 바탕으로 ESG 투자가 우리 사회에 성공적으로 뿌리내리도록 할 것”이라고 말했다. 김 이사장은 국민연금의 네 가지 ESG 책임투자 활성화 전략도 공개했다. 첫 번째 방안은 국내 주식 일부 등 일부 자산에만 제한적, 소극적으로 적용되던 ESG 책임투자를 장기적으로 기금 전체 자산군에 적용하는 것이다. 김 이사장은 “ESG 요소를 재무 분석 과정에 융합시키는 ES

한국어판 Sept. 28, 2021

“세계 경제가 포스트 코로나 시대에 발맞춰 환경·사회·지배구조(ESG) 대전환을 이루고 있는 가운데, 한국 정부 역시 규제가 아닌 지원의 관점에서 ESG 정책을 추진해 지속가능한 성장 기반을 더욱 공고히 할 것이다.” 　 홍남기 경제부총리 겸 기획재정부 장관은 28일 서울 포시즌스 호텔에서 ‘한국의 ESG 혁명: 팬데믹 이후의 그린슈트’를 주제로 열린 ‘2021 코리아헤럴드 금융투자포럼’에서 축사 영상을 통해 이 같이 밝혔다. 　 홍 장관은 코로나19(신종 코로나바이러스 감염증) 위기로 인해 전세계에서 기후변화, 취약계층에 대한 고용 · 사회안전망 부족 등 소위 ‘회색 코뿔소’로 불리던 문제들이 경제 성장에 직접적인 장애 요인이 된다는 것을 깨닫는 계기가 됐다고 말했다. 　 그는 “각국 정부와 시장에서 ESG를 핵심 가치로 삼고 지속가능성과 회복력을

한국어판 Sept. 28, 2021

The amount of parked money that can be withdrawn any time has surged to an all-time high, data showed Sunday. According to the Bank of Korea, the amount of demand deposit increased by 3.3 trillion won ($2.8 billion) to some 388.7 trillion won as of July. It is the largest amount since the central bank started to collect related data. Market experts suggested that extra cash ready for new investments has few places to go because of the government’s intensifying regulatory moves on the pr

Market Sept. 26, 2021

K-pop fans have found a new way to support their favorite idols that could also fatten their wallets at the same time. A growing number of fans are experimenting with new investment methods by investing in shares of copyrights to songs by idols. This new combination of Korean culture and investing comes as K-pop fans seek alternative and meaningful ways to show support for their stars.  For instance, Music Cow, a platform for investing in K-pop songs, allows fans to buy shares to own par

Market Sept. 21, 2021

Rich people living outside the Seoul area are rushing to buy apartments in the capital city to secure real estate as a means for stable investment, data showed Tuesday. According to the Korea Real Estate Board, the number of apartments bought by people residing outside of Seoul accounted for 25.3 percent of the total 131,996 apartments purchased in the city as of July. Compared to 19.7 percent in July 2017, the purchasing spree of cash-rich non-Seoul residents has accelerated, market insiders

Market Sept. 14, 2021

South Korean crypto exchange Bithumb said it has joined hands with Bucket Studio, a local mobile content provider, to launch a commerce platform where customers can purchase products and services in bithumb cash. By incorporating Bithumb’s blockchain payment technology, the commerce platform, named Bithumb Live, will serve as a new online marketplace. Customers will watch a live show promoting a product -- similar to TV homeshopping -- and pay with its currency, bithumb cash, later on, o

Market Sept. 13, 2021

The Korea Financial Intelligence Unit said Sunday that it was looking closely at cryptocurrency exchanges on the verge of shutting down. The unit is under the Financial Services Commission, the country’s financial regulator. The regulator, in cooperation with the police and financial institutions, aims to prevent those exchanges from walking away with users’ money parked in their accounts. Any exchanges that fail to register with the FSC by Sept. 24 must inform users by Friday th

Market Sept. 12, 2021

Standard Chartered Bank Korea has named Lee Eun-hyung, former journalist and ex-spokesperson of the Trade Ministry, as the new chair of its board, the lender said Thursday. Lee replaced Oh Jong-nam, a former adviser at local law firm Kim & Chang who was the board chair for three years. Lee’s term as the board chair ends Sept. 2022. She is the first female chair of the board, the bank said, noting that the decision was to reflect the growing demand for gender diversity in the boardro

Market Sept. 9, 2021

If South Korea passes a carbon tax bill in line with global standards, local companies, particularly those in heavy industries that emit high levels of carbon dioxide, may face between 7.3 trillion won ($6.26 billion) and 36.3 trillion won in additional taxes, a local credit rating agency said Wednesday. The carbon tax bill is currently pending in the parliament. The financial costs will be even higher with the implementation of the European Union’s Carbon Border Adjustment Mechanism, sa

Market Sept. 8, 2021