Most Popular
-
1
[Exclusive] Korean military set to ban iPhones over 'security' concerns
-
2
Korean, Romanian leaders discuss defense tech, nuclear energy
-
3
S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
-
4
Yoon’s jailed mother-in-law excluded from latest parole list
-
5
Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
-
6
[Pressure points] Leggings in public: Fashion statement or social faux pas?
-
7
Korea’s homegrown nanosatellite successfully launches into space
-
8
Aging population to drive down Korea's housing prices from 2040: experts
-
9
Over-50s, men, single-person households take up majority of those filing for bankruptcy
-
10
Hybe's multilabel system tested amid conflict with Ador
-
New parents to get greater chance at buying home
Housing supply measures, encompassing both the public and private sectors, revised to favor households with newborns came into effect Monday, with the intention to lower the burden of high housing costs as one of the factors pulling down the country’s fertility rate to the world's lowest level. Starting from Monday, households with a child younger than 2 years old, including those with an adopted child or expectant mother, will be eligible to apply for a specialized and prioritized ho
March 25, 2024
-
Korea sighs in relief on US Fed's dovish signal
While the possibility of the US Federal Reserve cutting its base rate three times this year has sent Seoul shares higher, the Bank of Korea is likely to start bringing down its key rate in July, experts viewed. Through a two-day Federal Open Market Committee meeting, the US Fed maintained its benchmark lending rate to stand in the 5.25-5.5 percent range. Though the rate freeze had been expected by the market, the global stock market, including that of Korea, rallied as the Fed stuck to its dovis
March 21, 2024
-
Yoon vows to improve conditions for family business succession
President Yoon Suk Yeol vowed Wednesday to improve the conditions for family business successions as he lamented local conglomerates' reluctance to grow their value out of fear of having to pay a larger inheritance tax. Yoon made the promise during a special lecture marking the 51st Commerce & Industry Day in front of some 1,000 people, including the chief executives of large family-run conglomerates, such as Samsung Electronics, Hyundai Motor Group and LG Group. "Many companies
March 20, 2024
-
Japan's historic rate pivot won't roil Korea: experts
The Bank of Japan's first interest rate hike in almost two decades has rattled the global economy, yet it may not have as much of an impact in South Korea, at least not for a while. The central bank of Japan on Tuesday announced it is lifting its short-term policy rate to a range of 0 to 0.1 percent from minus 0.1 percent, stepping away from the negative interest rate policy it had been applying since 2016 to fight chronic deflation. It also marked the central bank's first interest rat
March 20, 2024
-
[Contribution] Don’t just wait for the lucky dragon
By Marc Van de Walle A New Year is always a time to reflect on the previous year, what we might learn from it and then apply these learnings going forward. What better time for reflection than now, as we usher in the Year of the Dragon, considered one of the most auspicious creatures in the Chinese zodiac. The mythical Dragon symbolizes power, wisdom, strength, and good fortune. From an investment perspective, however, there is more you can do than wait to tap on the Dragon’s luck. Last ye
March 20, 2024
-
Korea pledges W452tr in climate finance until 2030
The South Korean government and local banks on Tuesday pledged to jointly invest 452 trillion won ($337.4 billion) until 2030 to tackle the climate crisis. The move aligns with the country's intensified efforts to achieve carbon neutrality by 2050 and bolster domestic firms' competitive edge in overseas markets. "This unprecedented climate crisis we face today demands action not only to enhance our companies' competitiveness but also for the generations to come," said Ki
March 19, 2024
-
New marriages bounce back buoyed by international couples
One in 10 couples who tied the knot in South Korea last year included a partner of foreign nationality. The growing number of international marriages helped the total number of newly married couples last year to rebound for the first time in 12 years. The number of international marriages stood at 19,700 in 2023, taking up 10.2 percent of the total number of newlywed couples -- 193,700 -- tallied last year, according to Statistics Korea on Tuesday. The number of international marriages grew by 1
March 19, 2024
-
S. Korea to provide W420tr in policy loans for carbon emission reduction by 2030
South Korea's financial regulator unveiled an ambitious plan Tuesday to provide 420 trillion won ($315 billion) in policy loans by 2030 to help reduce greenhouse gas emissions. Seoul has pledged to reduce its greenhouse gas emissions by 37 percent from business-as-usual levels. "There exist concerns that the global competitiveness of our exporters may dwindle should we fail to take appropriate steps to meet the increasing emissions-related regulations in other countries," the Fina
March 19, 2024
-
Trump unlikely to unravel IRA: experts
Korean businesses are unlikely to face a massive challenge by possible shift in US trade policies resulting from the 2024 US presidential election but they should get ready for small hiccups, experts on international trade said on Monday. “From the US perspective, Korean companies are very important partners in trade and investment. … Since the Korea-US Free Trade Agreement has been revised in a way that satisfies US constituencies, there may be hiccups (in the trade relationship) a
March 18, 2024
-
S. Korea, OECD hold conference on 'digital finance'
South Korea and the Organization for Economic Cooperation and Development opened a joint conference in Seoul on Monday to discuss ways to help Southeast Asian countries develop and transform their financial systems. The conference will be held for two days and discuss potential problems arising from the digitalization of financial systems in the Association of Southeast Asian Nations member countries and ways to address them, according to South Korea's financial regulator, the Financial Ser
March 18, 2024
-
Finance stocks rally despite ELS woes
Despite internal setbacks, South Korean finance giants are forging ahead with a robust rally in the local stock market, as several companies reach historic highs. The share prices of KB Financial Co. and Hana Financial Co., two of the nation's biggest finance holding firms, soared to unprecedented levels Thursday. KB Financial's shares hit 78,600 won ($59) after three consecutive days of record-setting gains, while Hana's reached 64,600 won. Shinhan Financial Co.'s shares als
March 17, 2024
-
Rising exports lead economic recovery despite weak domestic demand: finance ministry
The South Korean economy has been on a recovery track on the solid growth of exports, but disparities among sectors remain wide amid weak consumption and investment, the finance ministry said Friday. "As shown in manufacturing production and exports, the country has seen an economic recovery and a stable job market," the Ministry of Economy and Finance said in the Green Book, its monthly economic assessment report. "But the pace of recovery among sectors has been different as priv
March 15, 2024
-
Industry minister asks petroleum firms to avoid price hike
Industry Minister Ahn Duk-geun on Thursday asked petroleum companies to refrain from increasing the prices of their products amid lingering inflation and external uncertainties. The remark came as global oil prices continued to remain volatile due to the prolonged war between Russia and Ukraine, along with the geopolitical instability in the Middle East. "The government is prioritizing taming inflation as the top task for the economy and is currently utilizing all available measures to stab
March 14, 2024
-
[KH Explains] Will Webull reshape Korea's mobile trading?
Webull Corporation, a prominent US-based online stock trading platform, has initiated preliminary operations to establish its presence in South Korea. Speculation surrounding the debut of the New York-headquartered company's services rose recently following reports indicating Webull's engagement with local financial regulators to secure related licenses for domestic operations. Citing Webull Korea Preliminary CEO Rhee Won-jae, Herald Biz disclosed last month that Webull "plans to
March 13, 2024
-
US gains propel Kospi to 2-year intraday high
The Korean stock market rallied early Wednesday, with the benchmark Kospi breaking above 2,700 points during trading hours for the first time in nearly two years as the market tracked overnight Wall Street gains. The local benchmark Kospi touched 2,701.45 points during intraday trading. The peak came shortly after it opened at 2,694.71, marking a 12.9 points rise from the previous close at 2,681.81. After hitting a record high not seen since May 2022, the main index wiped out the gains as invest
March 13, 2024
-
HK-tied ELS sellers may face full compensation claims for losses
With losses from equity-linked securities tied to a Hong Kong index expected to reach almost 6 trillion won ($4.57 billion) this year, South Korean financial regulators announced Monday that sellers may face full compensation for the loss. The announcement follows the Financial Supervisory Service's inspection of local banks and brokerages that sold large amounts of ELS products tied to the troubled Hang Seng China Enterprises Index. From Jan. 8 to Friday, the watchdog conducted a thorough
March 11, 2024
-
[Photo News] HK ELS sales fallout
Financial Supervisory Service Governor Lee Bok-hyun approaches the podium during a press briefing held at the regulator's headquarters in Yeouido, Seoul, on Monday. The FSS announced the results of its investigation into the possible misselling of equity-linked securities products tied to Hong Kong's Hang Seng China Enterprises Index among local financial firms, together with consumer compensation measures, on the day. (Yonhap)
March 11, 2024
-
Exports fall 13.4% from March 1-10; chip sales jump over 20%
South Korea's exports fell more than 13 percent on-year in the first 10 days of March due mainly to fewer working days and weak demand for vehicles, but sales of semiconductors jumped more than 20 percent, data showed Monday. Outbound shipments reached $13.54 billion in the March 1-10 period, compared with $15.64 billion tallied a year earlier, according to the data from the Korea Customs Service. Per-day exports, however, gained 8.2 percent on-year to $2.26 billion. The number of working d
March 11, 2024
-
Portion of foreign buyers hits record high in S. Korean real estate market in 2023: data
The portion of foreigners who bought real estate in South Korea last year hit a record high, led by Chinese buyers, court data showed Sunday. A total of 15,600 foreign nationals completed property purchases in 2023, accounting for a record 0.9 percent of the total land acquisitions, according to the data from the online real estate registry service run by the Supreme Court. The percentage of foreign buyers in the South Korean real estate market has been on a steady increase since the South Korea
March 10, 2024
-
S. Korea, Japan discuss economic cooperation during vice-ministerial talks
South Korea and Japan held a vice-ministerial meeting Friday to discuss ways of cooperating on a wide range of economic and financial issues, Seoul's finance ministry said. South Korea's Deputy Finance Minister Choi Ji-young met with Japanese Vice Finance Minister Masato Kanda in Tokyo earlier in the day for the vice-ministerial finance dialogue, the second of its kind, according to the Ministry of Economy and Finance. During the meeting, the two sides discussed issues of mutual concer
March 8, 2024