Most Popular
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Korean labor force to shrink by 10 million by 2044: report
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[AtoZ Korean Mind] Does your job define who you are? Should it?
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Allegations surrounding BTS resurface, enraged fans demand apology
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Students with history of violence will be barred from becoming teachers
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Medical feud leaves hospitals in financial crisis
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Top prosecutor pledges 'speedy, strict' probe into first lady's luxury bag allegations
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Samsung mocks Apple over iPhone alarm glitch
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Chip up cycle won’t stay long: SK chief
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'Queen of Tears' riding high on Netflix chart
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Speaker floats dual citizenship as solution to falling births
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Authorities to rein in surging credit loans
Responding to an explosive surge in Korean lenders’ credit loans extended to borrowers, financial authorities have embarked on working-level talks with banking circles to implement selective loan regulations, officials said Sunday. The move came as outstanding unsecured loans extended to individuals by the nation’s five major banks -- KB Kookmin, Shinhan, Hana, Woori and NH NongHyup -- surged to 124.3 trillion won ($105 billion) as of end-August, up 4.1 trillion won from Jul
Sept. 13, 2020
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[News Focus] Brokerage credits for stock buying up 120 percent since April
SEJONG -- The balance for credit-based stock purchases has shot up about 120 percent in South Korean capital market over the past five months to reach an all-time high. According to the Korea Financial Investment Association, the outstanding credit for stock buying offered by brokerages came to 17.21 trillion won ($14.49 billion) as of Sept. 10. By market, investors, including individual investors, owe brokerages for stocks worth 8.61 trillion on the first-tier Kospi and worth 8.51 trillion w
Sept. 13, 2020
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[Decoding Shareholders] Is Shinhan breaking ties with Korean-Japanese shareholders?
This is a part of a series exploring the governance structure of financial giants in South Korea and examining diversity and transparency in boardrooms. -- Ed. Shinhan Financial Group has, for many years, been distinguished from its industry peers by its biggest group of shareholders -- Korean Japanese individuals believed to hold some 15 percent stake in the firm combined. This is due to its unique beginnings, born as Shinhan Bank -- now the holding group’s flagship unit -- from an inv
Sept. 13, 2020
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Seoul shares to encounter volatility in coming week
South Korean shares are likely to trade in a tight range in the coming week on valuation concerns, analysts said Saturday. The benchmark Korea Composite Stock Price Index closed at 2,396.69 points on Friday, up 1.2 percent from 2,368.25 a week ago. The index wavered the entire week, roiled by more investors questioning whether stock prices had risen too far beyond their proper values. Such hesitation was a factor in the last session, which finished nearly flat, up 0.01 percent. Local analyst
Sept. 12, 2020
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Asiana takeover deal falls through, creditors to inject more funds for stabilization
Creditors of Asiana Airlines announced Friday that they would pull the plug on a stalled deal to sell the cash-strapped airline to property developer HDC Hyundai Development Co. after 10 months of negotiations. They also decided to inject an additional 2.4 trillion won ($2.02 billion) in industrial stabilization funds to normalize operations at the air carrier for another disposal attempt. “Today, Kumho Industrial Co. has notified HDC Hyundai Development Co. that the merger and acquisiti
Sept. 11, 2020
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Seoul stocks almost flat on valuation concerns
South Korean shares closed nearly flat on Friday amid growing valuation woes in the financial markets. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.21 points, or 0.01 percent, to close at 2,396.69. Trading volume was moderate at about 872 million shares worth some 11.9 trillion won ($10 billion), with gainers outnumbering losers 456 to 377. Foreigners sold a net 164 billion won, while retail investors purchased a net 451 billion won
Sept. 11, 2020
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[Contribution] Chinese listed companies are coming home
The Korea Herald is running a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed. Investors in Asia are cheering the prospect of more Chinese companies listed in the US seeking a dual listing in Hong Kong. The catalyst for the acceleration in this trend is legislation which is likely to pass through the US Houses of Congress. The US legislation, Holding Foreign Companies Accountable Act, has two components that has raise
Sept. 11, 2020
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Kakao Games shares soar for 2nd day in row, leaps to No. 3 on Kosdaq
Kakao Games continued its bullish run on the Kosdaq market, with shares spiking by a daily permissible limit of nearly 30 percent for a second consecutive day Friday. As soon as trading began, the company’s stock price reached 81,100 won ($68.22) per share, up 18,700 won or 29.97 percent from the previous session’s close. It was more than triple the offering price of 24,000 won. The price also maintained throughout the day. It soon rose into the third most valuable stock on the Ko
Sept. 11, 2020
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Seoul stocks open tad lower on Wall Street losses
South Korean shares opened slightly lower Friday, tracking overnight losses on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.73 points, or 0.16 percent, to 2,392.75 in the first 15 minutes of trading. The KOSPI's decline is largely attributed to the US tech retreat and unimproved jobless benefits data from last week. The tech-laden Nasdaq composite fell 221.97 points, or 1.99 percent, to 10,919.59 on Thursday (New York time). The Dow Jones Industrial Average l
Sept. 11, 2020
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Rebound unlikely in sectors reeling from COVID-19
Domestic industrial sectors that are reeling from the coronavirus fallout in South Korea are unlikely to see a drastic rebound and probably face longer-lasting financial strain, officials of credit rating agency the Korea Investors Service said Thursday. Korean businesses dedicated to auto parts manufacturing, oil refining, hotels, duty-free shops, theaters and aviation are seeing a negative credit outlook and facing heightened financial pressure, making them subject to credit downgrading in t
Sept. 10, 2020
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Hyundai Card issues W450b green bonds
Hyundai Card, the credit card company under automotive giant Hyundai Motor Group, said Thursday that it has issued 450 billion won ($379 million) in green bonds to fund alternative energy and environmental projects. The won-denominated bonds that mature in one year and two months to 10 years are sold only to Korean institutional investors. The company issued the same bonds in August last year. Proceeds from the green bonds will be used in providing financing for eco-friendly vehicles, such
Sept. 10, 2020
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Seoul stocks rebound on US tech rally, another stimulus measure
South Korean shares closed higher Thursday in sync with the overnight Wall Street rebound and on the back of another stimulus measure amid the pandemic. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.67 points, or 0.87 percent, to close at 2,396.48. Trading volume was moderate at about 1.1 billion shares worth some 15.6 trillion won ($13.2 billion), with gainers outnumbering losers 596 to 232. Foreigners bought a net 381 billion won
Sept. 10, 2020
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Standard Chartered CEO mentors university students in S. Korea
London-based Standard Chartered Bank CEO Bill Winters mentored Korean university students seeking careers in finance in an contact-free manner as part of his monthlong visit to the country, the lender’s Korean subsidiary said Thursday. Winters and 13 university students on Wednesday discussed issues related to social finance, changes in the financial environment in the post-COVID-19 era and the “fourth industrial revolution” in the program via videoconferencing, Standard Char
Sept. 10, 2020
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Kakao Games makes stellar stock market debut, lands No. 5 on Kosdaq
Kakao Games, the gaming arm of Korean mobile messenger giant Kakao, made a strong market debut on the tech-heavy Kosdaq on Thursday, trading at more than double its initial public offering price. Shares of Kakao Games began trading at 48,000 won ($40.50), twice the offering price. The opening price of a newly listed stock is determined between 8:30 a.m. and 9 a.m. in the first trading session and it can reach up to 200 percent of its IPO price, according to the nation’s sole bourse oper
Sept. 10, 2020
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No. of reported offshore account holders jumps 24%
The number of foreign account holders that reported to the National Tax Service surged 24 percent on-year to 2,685 worth nearly 60 trillion won, data showed Thursday. In June, 1,889 residents of Korea reported accounts to NTS, each holding a balance of 4.2 billion won on average, while 796 Seoul-based corporations documented accounts, with an average balance of 65.2 billion won. Their total account balance came to 59.9 trillion won ($50.5 billion), down 2.6 percent from the previous year. The n
Sept. 10, 2020
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Seoul stocks open sharply higher on Wall Street rebound
South Korean shares opened sharply higher Thursday, tracking an overnight rebound on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.48 points, or 1.11 percent, to 2,402.29 in the first 15 minutes of trading. The index got off to a strong start after a 1.09 percent fall the previous session. Tech shares soared, taking a cue from a rebound in US tech heavyweights. The tech-laden Nasdaq composite rose 293.87 points, or 2.71 percent, to 11,141.56 on Wednesday (New
Sept. 10, 2020
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TVXQ’s Yunho stars in Shinhan’s campaign for millennials
K-pop duo TVXQ’s Yunho was featured in a promotional video for Shinhan Financial Group’s campaign promoting healthy lifestyles for millennials, launched Wednesday. Participants in the three-month social media campaign will receive five tasks to complete every two weeks, designed to “boost their confidence” in areas tied to hobbies, perceptions of the environment and society, talent, exercise and networking. They can then upload photos or videos on social media showing
Sept. 9, 2020
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COVID-19 changing how Korean LPs think about infrastructure bet
Even before the pandemic, South Korean institutional investors pursued safe bets in infrastructure investment, given their tendency to work with top-tier external partners to manage their money and to join the final round of fundraising for those external partners. They became more conservative in the wake of COVID-19, representatives of Korean institutional investors said Tuesday at Infrastructure Investor Seoul Summit Virtual Experience 2020, hosted by the London-based financial intelligence
Sept. 9, 2020
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Seoul stocks dip over 1% on Wall Street-triggered sell-offs
South Korean shares dipped more than 1 percent Wednesday, as investors dumped market heavyweights following a plunge in the US stock market. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 26.1 points, or 1.09 percent, to close at 2,375.81. Trading volume was moderate at about 929 million shares worth some 15.2 trillion won ($12.8 billion), with losers outnumbering gainers 618 to 240. Foreigners sold a net 117 billion won, extending the
Sept. 9, 2020
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KDB chief likely to take second term
Lee Dong-gull, chairman of South Korea’s largest state-run lender the Korea Development Bank, has de facto clinched his second term in office, officials said Wednesday. Once the presidential office Cheong Wa Dae makes it official, Lee is to become the first KDB leader in 26 years to serve two consecutive terms and the fourth to do so in the state-run bank’s 65-year history. Speculation about the KDB’s leadership had been rampant as no plausible candidates were in sight wh
Sept. 9, 2020