Articles by Im Eun-byel
Im Eun-byel
silverstar@heraldcorp.com-
[Herald Interview] 'Development assistance is important for export-dependent Korea'
Strengthening international development assistance efforts could be a solution to lifting the stagnant Korean economy, as such aid helps create a global economic environment favorable to countries with an export-led growth model, according to the chief of the multilateral lender World Bank Group’s Korea office. “For a country like Korea that is engaged in trading in international markets and a lot of its wealth comes from access to export markets, creating a stable and prosperous g
Economy Dec. 1, 2024
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BOK makes surprise 2nd rate cut to boost growth
The Bank of Korea slashed the base interest rate for the second consecutive time Thursday, amid heightened uncertainties and slow growth. The cut surprised the market as the local currency has weakened against the dollar in recent weeks. The Bank of Korea’s monetary policy board trimmed the base rate by 25 basis points, bringing it down to 3 percent. Four of the other six monetary policy board members, not including BOK Gov. Rhee Chang-yong, agreed to the rate cut, while the remaining two
Economy Nov. 28, 2024
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[Global Finance Awards] Viva Republica transforms financial ecosystem
Viva Republica, operator of the mobile financial service Toss, has been paving the way in shifting the dynamics of the traditional financial environment with its innovative services. With the goal of providing a full range of financial solutions through a single super app, Toss, Viva Republica has introduced a wide array of cutting-edge services, from banking and brokerage to insurance and beyond. Toss made its name in August 2021 by not charging commissions for transfers, a feat that sho
Industry Nov. 27, 2024
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[India Forum] KoINDEX offers glimpse into Korea's commitment to India
NEW DELHI -- Indian employees at Korean conglomerates, including LG Electronics, Hyundai Motors and Orion, enthusiastically showcased their new technology and latest products at an industrial exhibition commemorating the 51st anniversary of diplomatic ties between Korea and India. KoINDEX, with G-FAIR 2024, gathered more than 600 exhibitors with over 3,000 booths from India and Korea to create new business opportunities at the Yashobhoomi convention center in Delhi, India, from Nov. 21-23. LG El
Economy Nov. 26, 2024
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[India Forum] Kintex hopes to become growth platform in India
NEW DELHI -- Kintex, the operator of the convention center of the same name in Korea, hopes to function as a platform for Korean companies aspiring to forage into the burgeoning Indian market. Kintex, short for the Korea International Exhibition Center, operates a convention center under the same name in Goyang, Gyeonggi Province. It is the largest convention facility in Korea with a 108,483 square meters of space for exhibitions. In 2018, the operator received a permit to operate India’s
Industry Nov. 26, 2024
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[India Forum] Daewoo E&C vows to build Koreatown in Haryana
GURUGRAM, India -- Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Media Group, expressed his hopes to establish India’s first Koreatown, the hub of Korean culture and commerce, in a meeting with high-profile Indian government officials. On Thursday, Jung met with Nayab Singh Saini, the chief minister of Haryana, to discuss the bilateral partnership between Korea and India. Haryana, a state in north-central India, surrounds Delhi on three sides
Industry Nov. 26, 2024
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[India Forum] Tapping into young, growing population
NEW DELHI, India -- Korea’s leading asset manager Mirae Asset Global Investments has been rapidly expanding its presence in the Indian market, riding on the country’s strong “appetite for Korean businesses.” Recognizing the country’s growth potential, the company was the first of its peers to enter the Indian market, setting up an office in Mumbai in 2006. “When Mirae Asset came to India, it was a 100 percent foreign-owned equity,” Shrinivas Khanolkar, h
Industry Nov. 26, 2024
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[India Forum] India, more than a manufacturing hub
NEW DELHI -- The India-Korea Business Partnership Forum 2024 held at the Yashobhoomi convention center in New Delhi on Friday highlighted India’s potential to grow as more than a manufacturing hub. South Korean tech behemoth Samsung Electronics believes Indian talent will drive innovation to take the country a step further on the global stage. “Samsung was one of the first companies to realize India's potential as a manufacturing powerhouse. Each state represents a diverse mic
Industry Nov. 26, 2024
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W10tr buyback plan fires up Samsung stock
Shares of Samsung Electronics continued to gain Monday, following the company’s announcement of a share buyback plan worth 10 trillion won ($7.17 billion) on Friday, partly recovering from a steep decline the previous week. Samsung Electronics shares closed trading at 56,700 won Monday, up 3,200 won or 5.98 percent from the previous trading day, according to the Korea Exchange. During intraday trading, the price surged to as high as 57,500 won. The rebound comes after the shares sank to an
Market Nov. 18, 2024
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[KH Explains] Why Korean bank shares got bump from Trump's 2nd term
Shares of local banks are putting up a fight in the bearish Korean stock market, as investors are pricing in expectations that lenders could excel in the second Donald Trump administration under softened regulation and higher interest rates. The KRX Banks index, representing shares of top financial service providers such as KB, Shinhan, Woori and Hana, closed at 913.69 on Nov. 7, up 2.33 percent on-day, after Trump secured his victory in the US presidential election. It was the highest-gaining i
Economy Nov. 17, 2024
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Hana Financial chief vows to boost corporate value in Hong Kong
Hana Financial Group's chief pitched the banking group's strategies to elevate its corporate value to overseas investors at an investor relations event in Hong Kong. Along with the chiefs of other top financial service providers in the country, Hana Financial Chairman Ham Young-joo attended the “Invest K-Finance” event, hosted by South Korea's Financial Supervisory Service. At the event, Ham introduced the group’s plan to boost corporate and shareholder value, ac
Industry Nov. 17, 2024
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Toss posts record revenue in Q3, led by brokerage biz
Viva Republica, the operator of mobile financial service Toss, posted record-high revenue in the July-September period, gaining traction for a potential US listing. According to the company on Thursday, its third-quarter revenue soared 47.5 percent to 502.1 billion won ($356 million) from a year ago, largely buoyed by its diverse business portfolio ranging from internet banking to digital brokerage. With the latest figure, the company's cumulative revenue this year stood at 1.41 trillion wo
Industry Nov. 14, 2024
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Upbit D Conference explores how to bridge crypto with real world
Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, hosted the Upbit D Conference on Thursday, discussing how blockchain technology can bring changes into the real world. This year’s event, in its seventh edition, was held under the title of "Blockchain: Powering Real World Change." “Blockchain is no longer an invisible technology. Just a few years ago, blockchain was considered unfamiliar and complex, but now we can see that perceptions in Kor
Industry Nov. 14, 2024
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Korea Zinc pulls back on capital increase scheme
Korea Zinc Chairman Choi Yun-beom on Wednesday apologized to the public, canceling the company’s hastily-made capital increase plan that sent its shares on a roller-coaster ride in recent weeks. “Though the capital raise was planned to strengthen a more diverse and independent shareholder base consisting of general investors, I offer my sincere apology as the plan, drawn up in urgent and desperate circumstances, was inconsiderate of existing shareholders,” Choi said at a press
Industry Nov. 13, 2024
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[Contribution] Investment diary of a CIO’s son
By Steve Brice My youngest son is starting out on his investment journey. As background, he has been gifted some money, which he wants to invest for at least 7-10 years. He is not interested in finance, although he is interested in making money. He is about to go to university in February and expects to be busy. Therefore, he wants to have an investment plan which he does not have to monitor excessively. He is obviously worried about investing at exactly the wrong time, as is common with most
Industry Nov. 13, 2024
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