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Moon’s approval rating surges after Pyongyang Summit
China hikes tariffs on US imports
Two BMW cars catch fire in S. Korea
Unification minister vows support for separated families
Holiday season is crime season, lawmaker warns
Dodgers' Ryu Hyun-jin spins another gem vs. Padres
Moon, Abe to hold bilateral summit this week
S. Korea’s Moon arrives in New York for Trump summit, UN meeting
Second woman accuses Trump court pick of sexual misconduct: New Yorker
[Photo News] Kim Jong-un and his ‘finger heart’

Sept 22, 2018 Finance

Seoul shares to seek upturn on eased trade woes next week

Seoul shares may undergo upward momentum next week, as eased concerns over global trade disputes and positive forecasts for corporate earnings could whet investors' appetite for bargains, analysts said Saturday.The benchmark Korea Composite Stock Price Index closed at 2,339.17 on Friday, up 2.32 percent from a week earlier.The index started the week on a bearish note, as conflicts over tariffs between the United States and China appeared to worsen due to President Trump's decision to proceed wit

[Newsmaker] Opposition lawmaker’s office raided for state budget information leak

A senior lawmaker of the main opposition party faced seizure over charges of accessing and leaking confidential government data on the state budget, prosecutorial officials said Friday.The Seoul Central District Prosecutors’ Office seized and searched the office of Rep. Shim Jae-cheol, a fifth-term lawmaker of the conservative Liberty Korea Party, whose aides are suspected of leaking information from the government’s digital budget accounting system.Rep. Shim Jae-cheol of the ruling conservative

Sept 22, 2018
Finance
Banks ready for inter-Korean economic cooperation

Fired up by the thawing peninsular mood built on the latest inter-Korean summit, banks here have buckled down on establishing business in the North in the near future, their initial focus fixed on the resumption of the Kaesong industrial park and Kumgangsan tours.Steering the move are the state-run banks that strive to win an upper hand in infrastructure financing, as well as Woori Bank and NH NongHyup Bank, which had operated businesses in the joint operations zones in the past.On Wednesday and

Sept 21, 2018
Finance
SC Bank Korea launches My Run Savings Account

SC Bank Korea, the Korean subsidiary of British banking giant Standard Chartered, has launched a new money market deposit account, offering a relatively high interest rate opportunity to customers, officials said Wednesday.The bank has launched My Run Savings Account, a new kind of compound account that combines the convenience of a checking account and the profitability of a fixed deposit. The account offers an annual interest rate ranging from 0.1 percent to 2.1 percent maximum, depending on t

Sept 20, 2018
Finance
FSS chief touts Korea as ‘financial hub,’ riding on inter-Korean thaw

The pangovernmental moves to “advance Korean markets to a financial hub in Northeast Asia” will gain steam, riding on the inter-Korean thaw in the wake of this year’s third inter-Korean summit, South Korea’s Financial Supervisory Service Gov. Yoon Suk-heun told heads of foreign financial units in Korea on Wednesday. The remarks came as South Korea President Moon Jae-in and North Korea leader Kim Jong-un signed a joint agreement to reboot plans for bilateral business cooperation, including the re

Sept 20, 2018
Finance
Market watchers play down summit’s potential impact

South Korean markets gained little impetus on the first day of the third inter-Korean summit on Tuesday, as market analysts remained cautious about the summit’s potential long-term impact.But some analysts expressed the view that positive developments in inter-Korean relations could stimulate long-term market growth.(Yonhap)In stock markets, the top-tier Kospi edged up 0.3 percent Tuesday, while the second-tier Kosdaq was 0.4 percent higher.Bond markets were moderately bearish in closing. The th

Sept 19, 2018
Finance
Embattled Toptec CEO denies spilling tech secrets

Toptec, a South Korean maker of automated machines for production of display panels and semiconductors, denied recent allegations that it had attempted to sell confidential information on technology related to mobile phone screen lamination machines to China.The company also refuted claims that it had failed to protect company secrets of its biggest buyer, Samsung Display. (Toptec website)Suwon District Prosecutors’ Office on Friday raided the Toptec headquarters in Gumi, North Gyeongsang Provin

Sept 18, 2018
Finance
Shinhan Bank, EBRD cooperate on trade finance

Shinhan Bank, one of the major commercial lenders in South Korea, has become a confirming bank for a trade program run by the European Bank for Reconstruction and Development, the EBRD said Friday. The cooperation is expected to help Shinhan Bank offer safer trade financing instruments to Korean firms that do business with nations in Eastern Europe, the Middle East and Africa. (Yonhap)In a statement, the EBRD said Shinhan Bank joined the multilateral lender's Trade Facilitation Program, which ai

Sept 14, 2018
Finance
Prime Minister urges BOK rate hike

South Korean Prime Minister Lee Nak-yon urged the Bank of Korea to raise key interest rate Thursday, citing concerns about financial instability.“Without a rate hike, problems related to capital flight, a widening gap in interest rates between Korea and the United States and the (upward) pressure on (the level of) household debt will persist,” said Lee. “It is high time to take this matter more seriously.” (Yonhap)Lee also blamed expansionary monetary policy during the former Park Geun-hye admin

Sept 14, 2018
Finance
Crypto exchanges can discern worthwhile coins, blockchain projects: Upbit CEO

With hundreds of new cryptocurrencies and blockchain projects being released daily, it’s difficult for investors to discern which digital coins are worth backing or are potential scams with no value.　Though the decision is ultimately left to the investor, responsible cryptocurrency exchanges can help this selection process by screening for and listing coins linked to worthwhile blockchain projects, said Lee Sir-goo, CEO of Dunamu which runs Korea’s top cryptocurrency exchange Upbit.“Stock exchan

Sept 17, 2018
Finance
56% of Koreans favor stronger real estate taxes: poll

More than five out of 10 South Koreans are supportive of the government's plan to hike real estate tax rates to curb rising housing prices, a poll showed Thursday.In the survey on 500 adults conducted by Realmeter, 56.4 percent of the respondents said that they are in favor of the government's plan to strengthen the so-called comprehensive real estate tax scheme. It showed that 30.7 percent oppose the move. (Yonhap)Later in the day, the government plans to unveil stronger measures to cool down t

Sept 13, 2018
Finance
KRX to tighten rules on maximum per-case stock trading

The maximum possible number of shares investors can purchase in a single order will be reduced starting next week to prevent fat-finger errors, the local bourse operator said Wednesday.Investors will be allowed to buy a maximum of 1 percent of a firm's total shares per order starting Monday, compared to the current level of 5 percent, according to the Korea Exchange. The Korea Exchange in Yeouido, Seoul (Yonhap)In cases where an order is to purchase shares worth more than 100 billion won (US$88.

Sept 12, 2018
Finance
NH Investment & Securities picked as most preferred bidder for Seoul Square sales

NH Investment & Securities, South Korea’s second-largest securities firm by net assets, was picked as the most preferred bidder for Seoul Square, a prime office building located in central Seoul, according to the company Wednesday. (Herald DB)NH Investment & Securities expects the deal worth 1 trillion won ($890 million) to be complete by the end of November, which would be the second-priciest bid in Korea following an M&G Real Estate Korea 1.1 trillion-won purchase deal of the Centropolice offi

Sept 13, 2018
Finance
Securities firms remove 40% of Korean branches in 7 years

South Korea’s securities firms saw their local branch network shrink by 40.3 percent in the past seven years until June this year, with the arrival of mobile trading infrastructure here, data showed Wednesday. (Herald DB)According to the Korea Financial Investment Association, the number of brick-and-mortar branches of 56 securities firms that locate at least one business unit in Korea came to 1,116 as of end-June, indicating that 756 branches in Korea have been removed since June 2011. By brok

Sept 13, 2018
Finance
Singapore's ABCC crypto exchange to actively tap into S. Korean market

AlphaBit Cryptocurrency Exchange (ABCC), a Singapore-based cryptocurrency exchange, said Tuesday it will proactively push its expansion into the South Korean market.Last month, the exchange entered the Seoul market by opening its Korean website, and it plans to come up with a mobile trading app next month."South Korea is one of the most active cryptocurrency markets in the world, and we are happy to come to this market," ABCC's CEO Calvin Cheng was quoted as saying by the company's officials dur

Sept 11, 2018
Finance

The Korea Herald by Herald Corporation

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