Companies with higher involvement of foreigners and small investors are more likely to release more detailed corporate governance reports, demonstrating more transparency, the Korea Exchange said Tuesday. The Korea Exchange, the nation's sole bourse operator, released an analysis on the corporate governance reports of companies listed on the local stock market. As companies with assets between ...

More than 70,000 people under the age of 30 are obliged to pay a gift tax for receiving assets in 2021, marking a two-fold increase from the year before, data showed Monday. According to Rep. Jin Sun-mee from the Democratic Party of Korea, 70,115 people under 30 are obliged to pay a gift tax for receiving land, properties or securities in 2021. Jin is a member of the Strategy & Finance Committee...

Shinhan Bank President Jin Ok-dong, 61, has been appointed as the final candidate for the new chairman of Shinhan Financial Group, South Korea's No. 2 bank by total assets, Thursday. The group said that nonexecutive directors of the group unanimously voted for Jin at a candidate recommendation meeting held at the firm's headquarters in central Seoul. Other candidates were Shinhan Financial Grou...

Seoul-based private equity house MBK Partners Founder and Chairman Michael Byung-ju Kim has been named one of the 15 “Asia’s Heroes of Philanthropy” by US business magazine Forbes for the second year in a row. He was the only Korean to make this year’s top philanthropist list. Kim was one of only three people -- the other two being billionaire brothers Ronnie and Gerald Chan who are the co-found...

BOK says 50,000-won banknote has life span over 15 years, compared to 23 years of $100 and 41 years of 50-pound bills

Around 8,000 people have won first prizes for South Korea’s most popular lottery Lotto 6/45 in its 20 years of history, with their combined jackpot totaling 16 trillion won ($12 billion), according to the lottery commission on Monday. According to the Korea Lottery Commission, an organization under the Finance Ministry, the number of first prize winners of the Lotto reached 7,803 as of Nov. 26 t...

JB Financial Group has been honored with the ESG Excellent Company Award by the Korea Institute of Corporate Governance and Sustainability (KCGS) at the Korea Exchange in Yeouido, Seoul, on Friday. “We see this recognition as an opportunity to further strengthen our responsibility and role in taking the lead in sincere and advanced ESG management,” the financial group said in a statement. Since...

'Newly rich' in 30s, 40s account for 18.4% of wealthy Koreans

Powell's signal on Fed pullback on rate hikes gives green light to investors

By Yoo Chang-jo Professor of marketing at Dongguk University The Korea Herald presents the Global Finance Awards upon recognition that, for the Korean economy to grow in this age of cutting-edge technology, it is essential to build a financial ecosystem that meets global standards and raises the competitiveness of the country’s financial industry. The purpose of these awards is to encourage fi...

Insurer of the Year / Kyobo Life Insurance

ESG Innovator / Standard Chartered Bank Korea

Bank of the Year / KB Kookmin Bank

IR Innovator / Woori Financial Group

Digital Innovator / Qraft Technologies