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The Korea Herald

Markets

August 07, 2024
[Herald Interview] Procurement chief aims for greater transparency, charts global path for SMEs

The Public Procurement Service, responsible for managing procurement contracts worth 209 trillion won ($152 billion) last year — a third of the South Korean government's entire spending — serves as both an allocator of domestic demand and a driver of innovation for the country’s thriving small a...
August 07, 2024
Public Procurement Service helps Korean businesses reach global stage

South Korea's Public Procurement Service is spearheading efforts to help local businesses break into the global procurement market, valued at an estimated $12 trillion. Of this total, Korean companies are positioned to vie for a lucrative $2 trillion portion, presenting a significant opportunity fo...
August 07, 2024
Eximbank to fund $260m for new airport project in Philippines

The Export-Import Bank of Korea said Wednesday that it will provide a $260 million loan to support the development of a new airport in Dumaguete, Philippines. Yoon Hee-sung, chairman and CEO of Eximbank, met with Ralph G. Recto, the secretary of the Philippine Department of Finance, in Manila on t...
August 07, 2024
Govt. rolls out W1.2tr aid package for Qoo10 liquidity crisis

The Korean government announced on Wednesday a policy support package totaling 1.2 trillion won ($871 million) to address damage from Tmon and WeMakePrice payment delays, with refunds for general products to be completed within the week. The measures, part of a follow-up support plan announced by ...
August 06, 2024
World Bank's digital chief vows to close digital divide

World Bank's new Vice President for Digital Transformation Kim Sang-bu outlined his mission to enhance the impact of digital technologies in accelerating development. "Digital technology has become a critical focus as the World Bank advances initiatives aimed at eradicating poverty," Kim said at a...
August 06, 2024
Seoul shares remain volatile after market meltdown

The South Korean stock market partially rebounded Tuesday from the previous day's massive rout, as bargain-hunting investors sought to profit. The benchmark Kospi stood at 2,531.91, up 90.36 points, or 3.7 percent, as of 2:30 p.m. It opened at 2,533.34, showing limited recovery, but fluctuated thr...
August 06, 2024
Govt. sets deadline for Qoo10 crisis consumer refunds

Customers who have yet to receive refunds after purchasing general products from e-commerce platforms Tmon and WeMakePrice due to a liquidity crisis surrounding the companies will get their money back by the end of this week, officials said Tuesday. Finance Minister and Deputy Prime Minister Choi ...
August 06, 2024
[Exclusive] Thailand’s SCBX reaffirms partnership with Kakao Bank

Thailand’s largest financial group SCBX has reaffirmed its commitment to the digital banking partnership with Kakao Bank despite growing legal risks surrounding Kakao Corp., the controlling shareholder of the Korean internet-only bank. "We do not foresee any changes to our current business relati...
August 06, 2024
Korean shares tank as global rout continues

South Korean shares dived more than 8 percent on Monday, triggering the stock exchange to temporarily halt the main Kospi and secondary Kosdaq markets, as investors were gripped by fear that the US economy may head toward a recession. A record 190 trillion won ($139 billion) was wiped off the Kosp...
August 05, 2024
SK chief inspects HBM chip production lines

SK Group Chairman Chey Tae-won called for its memory chip-maker SK hynix to seek next-generation profit models to continuously secure its leadership in the burgeoning artificial intelligence semiconductor market. “SK hynix is currently recognized in the high bandwidth memory market, but competiti...
August 05, 2024
Woori returns to investment banking after 10-year hiatus

Woori Investment & Securities, a brokerage house under Woori Financial Group, is poised to bolster its presence in investment banking, backing the potential of its group affiliates. The securities firm, formed through the merger of Woori Investment Bank and Korea Foss Securities, officially launch...
August 05, 2024
[From the Scene] Woori Bank nurtures global talent in Asian push

A total of eight participants — four each from Indonesia and Vietnam — were selected. Of these, four will be chosen for scholarships and offered employment opportunities at the bank's regional offices in their home countries. "Along with their understanding of the Korean language and culture, gl...
August 05, 2024
Investors join forces to secure Qxpress management rights: report

Qoo10 Group CEO Ku Young-bae could lose control over the group’s logistics arm Qxpress, as its financial investors are reportedly mulling taking over his management rights. According to a local news report Friday, a group of private equity firms, including Crescendo Equity Partners, Corstone Asia...
August 05, 2024
Authorities to tighten control over financial services by e-commerce

The South Korean government is considering stricter regulations on e-commerce platforms' involvement in financial services, aiming to avert another payment failure crisis amid ongoing investigations into cases involving Tmon and WeMakePrice. According to industry sources, local financial regulator...
August 05, 2024
Shinhan Card launches joint venture with Kazakh autodealer Aster

South Korea's leading card firm, Shinhan Card, has strengthened its foothold in Kazakhstan's auto finance market by establishing a joint venture with the nation's top used-car seller Aster Auto. Shinhan Finance, the Kazakh unit of Shinhan Card, announced on Sunday the launch of this joint venture ...

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Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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