Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
Equity funds in Korea gain on bull market, bond funds dwindle
Equity funds in Korea gain on bull market, bond funds dwindleBy Son Ji-hyoungStock market momentum and a looming key rate hike by the central bank in South Korea drove up domestic equity fund investment, while leaving local bond funds bearish, data showed Sunday.Riding the stock bull run in both the first-tier Kospi and second-tier Kosdaq, private and public equity funds in Korea had 78.6 trillion won ($72.3 million) of net assets as of Wednesday, according to data compiled by the Korea Financia
Market Nov. 26, 2017
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Red ginseng for children gains popularity in low birth era
Riding on the expansion of the premium children’s goods market, red ginseng products for children have been gaining popularity among parents here, according to Korea Ginseng Corp.For over a decade, the state-run company has targeted children with signature red ginseng extract products under its signature CheongKwanJang brand. A Korean kid consumes Korean Red Ginseng Kids Tonic. (KGC)“In Korea, it is common for parents to feed herbal supplements to their children to help them build up their immun
Industry Nov. 26, 2017
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[Kosdaq Star] TissueGene’s epic debut represents bio boom
This is the 45th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- EdMid-stage osteoarthritis treatment developer TissueGene’s market cap rose by more than 2 trillion won ($1.84 billion) within three weeks of making its debut, becoming the fifth-largest firm on South Korea’s second-tier Kosdaq market Friday. The stock performance of the Maryland-headquartered firm reflects a market-wide biotech boom built on overheated investor anticipation
Market Nov. 26, 2017
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Watchdog to empower auditors in accounting reform
South Korea‘s top financial watchdog on Thursday unveiled measures to enhance external auditors’ independence, by making it mandatory for auditors to add risk assessments on auditors’ reports.A task force under the Financial Services Commission, steered by the watchdog‘s vice chairman Kim Yong-beom, said that from 2019, an accountant in an auditor’s report must include key audit matters such as risks from revenue recognition, as well as clients’ actions after
Market Nov. 23, 2017
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SC Bank Korea promotes fixed deposit product
Standard Chartered Bank Korea is promoting a fixed deposit product online that offers an interest rate of up to 2.3 percent, before tax, the bank said in a statement Wednesday. The interest rate of the product will go up according to the amount of deposits raised through the promotion. If the product raises more than 100 billion won ($91.7 million), the bank will offer an annual interest rate of 2.3 percent for depositors, with the minimum rate guaranteed at 1.7 percent even if the volume
Market Nov. 22, 2017
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Minister vows no concession on farm sector ahead of KORUS FTA revision
Ahead of the free trade deal revision talks with the United States, Korea’s trade minister vowed on Tuesday not to take a step back in the looming farm sector renegotiation deal.“(The government) is now taking a strong stand on agriculture sector, and will not retreat any further,” Paik Un-gyu, minister of trade, industry and energy told reporters Tuesday in the administrative city of Sejong.This echoed Korea‘s trade negotiator Kim Hyun-chong’s remark in October tha
Economy Nov. 21, 2017
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Kosdaq roars to 10-year high on biotech boom
South Korea‘s second-tier Kosdaq market hit a 10-year high in its closing mark Monday, riding on a biopharma boom.Kosdaq closed at 785.32 Monday, up 1.22 percent from the previous session Friday. The index jumped by 16.7 percent for the month.The closing mark was the highest in over a decade since Kosdaq, designed in its birth to benchmark US’ tech-heavy Nasdaq, closed at 794.08 on Nov. 7, 2007.A combined market cap of Kosdaq hit an all-time high at 275.5 trillion won ($250.6 billion
Market Nov. 20, 2017
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Biotech momentum adds more Kosdaq stocks to top 200
Biotech momentum in the second-tier Kosdaq market has led 33 Kosdaq stocks to enter the list of top 200 listed firms in market cap both on the Kosdaq and top-tier Kospi, as of Friday, up from 23 at the end of 2016, data showed Monday. The 10 new Kosdaq-listed firms include biosimilar drug marketer Celltrion Healthcare and antirheumatic drugmaker TissueGene, which made their market debuts in July and earlier this month, respectively, according to data from the Korea Exchange. The firms’ ma
Market Nov. 20, 2017
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[Herald Interview] Dayli Marketplace opens doors to youth money management
The Korea Herald is publishing a series of interviews on promising startups in the fintech industry. This is the 4th installment. -- Ed. For young adults at the beginning stage of their financial achievements, finding and holding on to cash is a new challenge and a constant battle.They often face cost thresholds of private banking services by conventional banks, or find it challenging to seek alternatives, especially amid the record-low interest rate. Moreover, tech-savvy youths often find it tr
Technology Nov. 19, 2017
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Baskin-Robbins to sell Bacchus sorbet
Dong-A Pharmaceutical has partnered with the local unit of global ice cream chain Baskin-Robbins to turn its signature energy drink Bacchus into a sorbet, according to industry sources Friday.The new sorbet will carry the flavor of Dong-A Pharmaceutical’s flagship Bacchus energy drink, which has developed an iconic image in South Korea since its launch in 1963.The new sorbet will reportedly go on sale later this month. (Yonhap)The Bacchus brand includes sugar-rich, caffeine-heavy Bacchus-D sold
Industry Nov. 3, 2017
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[News Focus] Trump, FOMC decisions unlikely to jolt market
Markets in South Korea were moderately mixed Thursday, while analysts here noted that dovish decisions in the United States would leave the market free of immediate impacts, citing the unlikelihood of a rate hike by the Korean central bank at least until the end of this year.The top-tier stock market index took a breather Thursday. The Kospi closed at 2,546.36, down 0.4 percent from Wednesday’s close. This marked an end to the record run that lasted for the four previous days, which lifted
Market Nov. 2, 2017
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KIS one step closer to lending rights
Korea Investment & Securities, Korea‘s fifth-largest securities firm by net worth, moved a step closer in obtaining the rights to lend to local corporations, and is now awaiting the approval of the country’s top regulator, expected next week. On Wednesday, the Securities and Futures Commission sent approval of the short-term debt instrument license of Korea Investment & Securities to its umbrella body and Korea’s top financial watchdog, the Financial Services Commission
Market Nov. 2, 2017
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KB eyes No. 1 ranking ahead of 16th anniversary
Kookmin Bank celebrated its 16th anniversary on Wednesday, amid anticipations that it would become the nation’s largest commercial bank this year.Yoon Jong-kyoo, chief executive officer of KB Financial Group and its flagship Kookmin Bank, said 2017 is “(the bank’s) first year as a leading bank” in a speech at the anniversary event. This came days after KB Financial Group and Kookmin Bank were found to have both outperformed Shinhan Financial Group and its commercial Shinh
Market Nov. 1, 2017
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Consumer card transaction in Q3 jumps 15%
South Korean consumers’ card transactions in the third quarter this year jumped 14.5 percent on-year, while consumer card payments soared 11.9 percent, partly on the back of a 10-day holiday early in September and the rise in car purchases on the domestic market, data showed Wednesday.Consumers made nearly 4.5 billion card transactions, accounting for over 90 percent of all debit and credit card transactions in the third quarter, according to an estimate from the Credit Finance Association
Market Nov. 1, 2017
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KSFC head Jung Ji-won to helm sole market operator
South Korea’s sole market operator, the Korea Exchange, announced Tuesday that Jung Ji-won, chief executive officer of Korea Securities Finance Corp., will take the helm of the firm starting Thursday. The KRX also announced Won Jong-seok, chief executive officer and director of Shinyoung Securities, will become a non-executive director starting Thursday.Jung and Won will serve for three years.The KRX experienced a monthlong leadership vacuum, after former chairman Jeong Chan-woo left the K
Market Oct. 31, 2017
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