The Korea Herald

BUSINESS

All
Economy
Finance
Industry
Technology
Automode

LATEST NEWS

Quake detected in NK presumed to be natural: S. Korean agency
[Breaking] 3.5-magnitude quake rattles N. Korea near nuclear test site
BTS' 'Love Yourself' hits No. 14 on British albums chart
France reaffirms participation in PyeongChang 2018
China imposes limit on oil supply to North Korea
Does NK H-bomb threat push US closer to war?
Ex-KAI head arrested over W500b accounting fraud scandal
Trump will take 'appropriate' action in event of NK H-bomb test: Tillerson
Teenager charged over London Underground attack: police
Trump calls North Korea's Kim 'a madman'

Sept 23, 2017 Finance

Citibank Korea reappoints current CEO

Citibank Korea, the local branch of New York-based Citigroup, on Friday recommended current CEO Park Jin-hei as the sole candidate for the next term, officials said.Park is to assume his second term in office once his candidacy is confirmed at meetings of the board of directors and stockholders, both slated for next Wednesday. Citibank Korea CEO Park Jin-heiThe top official joined Citibank Korea in 1984, after graduating from Seoul National University and working at the Korea Development Institu

Shares extend downtrend amid US-N. Korea tension

Kospi, Kosdaq fall slightly, Samsung, SK hynix shares remain unfazed over tension

Sept 23, 2017
Finance
Samsung Pay most favored mobile payment platform in Korea: survey

Samsung Pay is the most favored mobile payment system in South Korea, a survey showed Friday.The mobile payment service run by Samsung Electronics Co. received the highest 3.78 points on the 1 to 5 scale, according to the survey of 1,200 people by the Korea Consumer Agency. Screen grab from Samsung Pay's websiteNaver Pay of South Korea's top Internet portal operator and Kakao Pay of South Korea's dominant messaging app KakaoTalk came in second with 3.76 points each. NHN Entertainment Corp.'s Pay

Sept 22, 2017
Finance
US fiscal tightening to have little impact on Korea: BOK chief

The central bank said Thursday that the US Federal Reserve’s belt-tightening gesture should have a limited impact on Korea’s economy.“I do not think that the Fed’s decision will have a big impact on domestic financial markets,” Bank of Korea Gov. Lee Ju-yeol told reporters on the way to his office.The US central bank on Wednesday announced it will shrink its portfolio of bonds by $10 billion a month starting in October and gradually increase the amount over the next year to $50 billion, signalin

Sept 22, 2017
Finance
Exim-Indonesia seek to expand infrastructure investment

Seeking to expand the investment opportunities of South Korean companies in the profitable Southeast Asian infrastructure market, the Export-Import Bank of Korea has hosted a forum to encourage business in Indonesia, according to officials Thursday.The Indonesia Infrastructure Investment Forum was held Wednesday at Millennium Seoul Hilton jointly by Eximbank and Indonesia’s Ministry of National Development Planning, upon the sponsorship of Korea’s Ministry of Strategy and Finance. From fourth fr

Sept 22, 2017
Finance
Seoul shares down for 3rd day on auto, steel losses

South Korean stocks closed lower Thursday, down for the third consecutive day, as auto and steel stocks retreated. The Korean won declined against the US dollar.The benchmark Korea Composite Stock Price Index shed 5.7 points, or 0.24 percent, to close at 2,406.5. Trade volume was moderate at 270 million shares worth 5.5 trillion won ($4.85 billion), with losers overwhelming gainers 620 to 198.The local bourse opened nearly flat after the US Federal Reserve hinted at the chance of a December rate

Sept 21, 2017
Finance
Regulator seeks to lower interest rates for margin trading

South Korea's financial regulator said Thursday it will seek to lower interest rates for margin trading and enable more people to pay their insurance fees with credit cards.The plan is a part of the government's aim to enhance the protection of consumers for financial products as the Financial Supervisory Service launched an advisory body on the rights of financial consumers. Interest rates for margin trading vary considerably. Kiwoom Securities Co.'s rate for 15-day margin lending is 11.75 perc

Sept 21, 2017
Finance
KB Kookmin Card eyes Myanmar market

KB Kookmin Card Co. said Thursday it is pushing to tap into Myanmar's credit card market after getting the nod to set up an office in the Southeast Asian country.KB Kookmin Card, a unit of South Korea's banking giant KB Financial Group Inc., said it won approval from Myanmar's central bank the previous day to establish a representative office there.The card issuer said it plans to take a step-by-step approach since Myanmar has yet to open its credit card and payment market to foreign companies.

Sept 21, 2017
Finance
Seoul shares down late Thursday morning

South Korean shares traded lower late Thursday morning driven by losses in auto and steel shares.The benchmark Korea Composite Stock Price Index shed 5.58 points, or 0.23 percent, to 2,406.62 as of 11:20 a.m.Automakers traded bearish with industry leader Hyundai Motor losing 1.41 percent and its sister affiliate Kia Motors declining 1.28 percent. No. 1 steelmaker POSCO surrendered 2.62 percent and Hyundai Steel was down 1.3 percent.Market kingpin Samsung Electronics, meanwhile, gained 0.38 perce

Sept 21, 2017
Finance
Financial regulator vows flexible rules to help fintech industry growth

The head of the Financial Supervisory Service said Thursday the regulator seeks to build an innovation-friendly financial environment to help the growth of the financial technology industry. Choe Heung-sik, governor of the FSS, made the remarks during a conference in Seoul to debate how best the financial industry can cope with challenges in uncertain times."Fundamental change is under way in financial platforms as the industry is connected with fintech," Choe said. Financial Supervisory Servic

Sept 21, 2017
Finance
Pharmaceuticals, biotechs soar on US rally

South Korean pharmaceuticals and biotech stocks have gone on a tear this year on the back of a biotech rally on the US NASDAQ market, data showed Thursday.The main stock market's subindex for the pharmaceutical sector had spiked 44 percent as of Wednesday from the start of this year, according to the data from the Korea Exchange and market tracker FnGuide.The figure is more than double the 19 percent increase in the benchmark Korea Composite Stock Price Index over the cited period.On the seconda

Sept 21, 2017
Finance
Seoul shares open lower after Fed meeting

South Korean stocks opened slightly lower Thursday, as the US Federal Reserve hinted at the chance of a December interest rate hike.The benchmark Korea Composite Stock Price Index shed 1.87 points, or 0.08 percent, to 2,140.33 in the first 15 minutes of trading.After holding a two-day policy meeting, the Fed left interest rates unchanged and said it would begin reducing its bond portfolio starting next month.Most large caps on the Seoul bourse traded mixed, with market kingpin Samsung Electronic

Sept 21, 2017
Finance
Seoul stocks down ahead of US Fed policy statement

South Korean stocks ended lower Wednesday as investors took a wait-and-see stance before the results of the US Federal Reserve's policy meeting, analysts said. The Korean won rose against the US dollar.The benchmark Korea Composite Stock Price Index lost 3.85 points, or 0.16 percent, to close at 2,412.2. Trade volume was moderate at 262 million shares worth 5.2 trillion won ($4.6 billion), with losers outnumbering gainers 593 to 216.The local stock market opened a tad higher tracking overnight g

Sept 20, 2017
Finance
Seoul shares down late Wednesday morning

South Korean stocks traded slightly lower late Wednesday morning as investors took to the sidelines awaiting the results of the US Federal Reserve meeting. The benchmark Korea Composite Stock Price Index shed 1.24 points, or 0.05 percent, to 2,414.81 as of 11:20 a.m.The two-day Federal Open Market Committee meeting is slated to finish Wednesday (local time) probably providing clues on US monetary policy. Most large caps on the Seoul bourse traded mixed, with market kingpin Samsung Electronics sh

Sept 20, 2017
Finance
Seoul shares open slightly higher on Wall Street gains

South Korean stocks opened slightly higher Wednesday, following overnight gains on Wall Street.The benchmark Korea Composite Stock Price Index added 1.9 points, or 0.08 percent, to 2,417.95 in the first 15 minutes of trading.On Tuesday (local time), US stocks closed at fresh record highs, with the S&P 500 inching up 0.11 percent and the Dow gaining 0.18 percent. (Yonhap)Most large caps on the Seoul bourse traded mixed, with marking kingpin Samsung Electronics shedding 0.04 percent.SK hynix, a m

Sept 20, 2017
Finance

The Korea Herald by Herald Corporation

Address : Huam-ro 4-gil 10, Yongsan-gu,Seoul, Korea
Online newspaper registration No : Seoul 아03711
Date of registration : 2015.04.28
Publisher. Editor : Kwon Chung-won
Juvenile Protection Manager : Shin Chang Hoon
Tel : 02.727.0114