Articles by Im Eun-byel
Im Eun-byel
silverstar@heraldcorp.com-
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
Economy March 21, 2024
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[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
Economy March 20, 2024
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Myeong-dong bustles again as retail shops fill up
Though plagued by emptied-out stores and quiet streets in the wake of the pandemic, the Myeong-dong area in central Seoul is looking to reclaim its title as a top retail district in Korea, seeing a sharp drop in its vacancy rate. Myeong-dong, a major tourist destination here, was hit severely by the lack of travelers during the COVID-19 pandemic, with its vacancy rate hitting nearly 50 percent at the end of 2021. But with pandemic rules lifted and an increase in face-to-face transactions, the ar
Industry March 20, 2024
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[KH Explains] Will Kakao Bank secure footing in untapped Thai market?
Thailand has remained an untapped market for South Korean financial firms since their exodus during the financial crisis in the late 1990s. Now Kakao Bank, the nation’s No. 1 online-only bank, is eyeing an expansion into the burgeoning digital banking market in Southeast Asia's second-largest economy. Earlier this month, Thailand’s Ministry of Finance confirmed regulations for authorizing virtual banks, the equivalent of internet lenders in Korea. According to the regulations, a
Industry March 19, 2024
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Igis to create fancy office complex in central Seoul
Local real estate asset manager Igis Asset Management is set to move forward with its plan to refurbish the office area near the Seoul Station, having recently acquired two office properties on the site. The asset manager announced Monday it had acquired Metro Tower (41,139.6-square-meters) and Seoullo Tower (27,897.5-square-meters) in the area, which connects with another property owned by the company, the Millennium Hilton Seoul. Through the project, the area, situated near the iconic Namsan,
Industry March 18, 2024
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Toss Securities poised to become top retail broker
Toss Securities, a brokerage arm under financial technology giant Viva Republica, shared its vision Thursday to become a leading player in the Korean retail trading market, launching new services ranging from bonds to derivatives to diversify its portfolio. “Until last year, Toss Securities worked on proving its lucrativeness as a brokerage house. This year, it will achieve meaningful results both in profitability and growth by offering diverse financial products,” Toss Securities CE
Industry March 14, 2024
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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
Economy March 13, 2024
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AI, health care top investor picks for Feb.
Startups in the artificial intelligence and health care sectors have secured the largest portion of investments in February, with Korea seeing a reignited funding market, a research firm said Tuesday. Local startups garnered a total of 93 investments worth 441.75 billion won ($336 million) in February, according to a report released by market intelligence firm Startup Alliance Korea. The investment volume shows a 48.6 percent jump compared to February 2023. Of the total amount, fabless AI chipma
Industry March 12, 2024
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Bitcoin hits new record high above W100m in Korea
The price of bitcoin jumped to a new record in Korea on Monday, breaking through 100 million ($76,365) for the first time. Bitcoin, the world’s biggest cryptocurrency, traded at above 100 million won on the nation’s largest crypto exchange Upbit at 4:32 p.m., a surge since the price exceeded 98.4 million won on Friday. The record figure was in line with the global rally. According to global price-tracking platform CoinMarketCap, the price of bitcoin surpassed $71,200 as of 4:48 p.m.
Market March 11, 2024
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[Herald Interview] Crypto.com eyes expansion into Korea
Cryptocurrency exchange operator Crypto.com hopes to expand its footing here by launching an exchange app for Korea in the first half of this year, said Eric Anziani, president and chief operating officer at the Singapore-based crypto trading platform. After more than two and a half years of working to build a foundation in Korea, Crypto.com is ready for full competition on the market. The company operates in 90 countries around the world and has more than 80 million global users. “We are
Industry March 11, 2024
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[KH Explains] ‘Kimchi premium’ returns, but weaker
After the global rally of bitcoin earlier this week, the “kimchi premium,” -- the price discrepancy in cryptocurrency between Korea and international markets -- has soared as well. Shortly after the global price of bitcoin hit a record high, rising above $69,000, the gap had widened to 12 percent as of Wednesday, meaning the bitcoin that traded in Korea was 12 percent more expensive than the global average. It later came down to the 6 percent range as of Thursday. While the bitcoin p
Market March 7, 2024
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[Contribution] The buck stops with all of us, not women
By Judy Hsu This year, for International Women’s Day, the United Nations has called for countries around the world to “Invest in Women: Accelerate Progress”. This crucial call underlines the need to address the deficit in gender equality measures as economies continue to grow. The call also emphasizes the imperative of prioritizing women’s economic empowerment because a stark reality persists: There continues to be a wide economic disparity between men and women in ma
Industry March 6, 2024
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Korea on guard against inflation
Consumer price growth resurged to above 3 percent in February, showing that Korea may be facing stickier-than-expected inflation, data suggested Wednesday. Consumer prices, a key gauge of inflation, advanced 3.1 percent on-year last month, according to data from Statistics Korea. Though price growth fell to 2.8 percent in January, dipping into the 2 percent range for the first time in six months, it rebounded to above 3 percent within a month. The uptick marks the first time in four months that
Economy March 6, 2024
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Korea's GNI rebounds on stable won
South Korea’s gross national income per capita rebounded to over $33,000 in 2023, marking a 2.6 percent rise on-year, while the national economy grew by 1.4 percent, preliminary data from the Bank of Korea showed Tuesday. The GNI per capita, a measure of the amount of money earned per person in a nation, stood at $33,745 last year, advancing by 2.6 percent from $32,886 in 2022. The figure, drawn up by dividing national income in a year by population, helps evaluate the standard of living.
Industry March 5, 2024
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Korean crypto exchanges ride on bitcoin rally
Local crypto exchanges are enjoying a boom in their returns amid the snowballing bitcoin rally. Upbit, the largest crypto exchange here, saw its transaction volume in the past 24 hours surpass 12 trillion won ($8.9 billion) as of Thursday at 3 p.m. It was the first time for the figure to go over 10 trillion won since 2021. As of Friday 2:15 p.m., its transaction volume in the past 24 hours stood at 9.96 trillion won. The volume is similar in size to the average daily transaction volume for Kospi
Industry March 1, 2024
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