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The Korea Herald

Markets

July 05, 2024
FSC chief nominee vows to keep tight rein on household debts

First Vice Finance Minister Kim Byoung-hwan, the nominee to head the Financial Services Commission, said he must put in all efforts to bring down the fast growth of household debts on Friday. Kim, a 53-year-old macroeconomics expert, was tapped to the post to lead the country's top financial polic...
July 05, 2024
Hanwha Energy makes tender offer as part of group succession plan

Hanwha Energy launched a bid on Friday to acquire shares worth 180 billion won ($130 million) in the group's holding company Hanwha, as part of a succession plan to transfer management control from the current Hanwha Group chairman to his three sons. Hanwha Energy, the renewable energy arm under H...
July 05, 2024
Samsung SDI clinches W1tr energy storage deal with top US electric utility

Samsung SDI is set to supply energy storage solution batteries worth 1 trillion won ($724 million) to NextEra Energy, the largest electric utility in the United States. Industry sources report that Samsung SDI is finalizing a contract to provide batteries with a total capacity of 6.3 gigawatt-hour...
July 05, 2024
Value-up Program optimism brings Kospi to two-year high

South Korean shares hit the highest level in nearly two and half years on Thursday, with much-awaited tax incentive plans for the Korean government’s program to boost the stock market taking shape. The benchmark Kospi rose 1.11 percent to close at 2,824.94, reaching the highest since January in 2...
July 04, 2024
First vice finance minister tapped as FSC chief

First Vice Finance Minister Kim Byoung-hwan has been nominated to lead the Financial Services Commission, South Korea's top financial policy-making unit, the presidential office announced Thursday. In nominating Kim, the office noted, "With his exceptional insights into finance and macroeconomics,...
July 04, 2024
Mirae Asset chief named AIB executive of the year, first feat for Asian financier

Mirae Asset Financial Group Chairman Park Hyeon-joo on Wednesday received the International Executive of the Year Award from the Academy of International Business, a top industrial honor, recognized for his pivotal role in lifting the firm as a global financial service provider. Park was the first...
July 04, 2024
SK Square names new CEO to reshape investment portfolio

SK Square, the investment arm of SK Group, is set to reshape its business portfolio to concentrate on the chip industry and divest "non-core" investments, under a new leader. On Wednesday, the company nominated Han Myung-jin, the head of the company's investment support center and former chief str...
July 04, 2024
SK, Canada’s EDC forge partnership on green energy

SK Group said Thursday that it has teamed up with Export Development Canada, the country’s exports credit agency, to boost cooperation in high-tech areas such as renewable energy and batteries. SK Inc., the holding unit of the group, signed a memorandum of understanding with EDC to forge a long-t...
July 04, 2024
FSS slaps record short selling fine on Credit Suisse

Global investment bank Credit Suisse affiliates have been fined a record amount for violating Korea's short selling regulations. The Securities and Futures Commission under the Financial Services Commission announced that it had decided to impose fines totaling 27.17 billion won ($19.5 million) on...
July 03, 2024
Korea to weigh in on food delivery fees

South Korea plans to form a public-private consultative group to address the rising costs of food delivery fees this month to help lift the burden on restaurant owners, the government announced Wednesday. The plan is part of pangovernmental measures to support small business owners. Government off...
July 03, 2024
AmCham launches mentoring program for young professionals

The American Chamber of Commerce in Korea said Wednesday that it has kicked off the Young Professionals Program to empower emerging leaders and strengthen Korea-US ties. Hosted and supported by AmCham, YPP provides young professionals in their 20s and 30s with networking opportunities with industr...
July 03, 2024
LG acquires Dutch smarthome specialist to enhance connectivity

LG Electronics is acquiring Athom, a smart home platform based in the Netherlands as part of its effort to strengthen connectivity for its open smart home ecosystem, the company announced Wednesday. The Korean tech giant said it has acquired an 80 percent stake in the Dutch firm, and plans to purc...
July 03, 2024
Jollibee Foods buys 70 percent of Compose Coffee for $238m

Jollibee Foods Corp. -- a multinational restaurant company based in the Philippines and owner of the country's largest fast food chain Jollibee -- will acquire a 70-percent stake in South Korean coffee chain Compose Coffee for $238 million, as part of its global expansion of coffee and tea business...
July 03, 2024
Korea soft-launches longer forex trading hours

South Korea’s won-dollar trading on the first day with extended trading hours has gotten off to a smooth start with ample liquidity and no significant increase in volatility, the country’s financial authorities said Tuesday. Starting from Monday, Korea has extended won trading hours to make the ...
July 02, 2024
Hana Bank’s extended forex trading kicks off on smooth run

Hana Bank’s foreign exchange trading room in Seoul, the largest in South Korea, completed its first extended trading session on Tuesday. Starting Monday, Korea extended its foreign currency trading hours, pushing the closing time from 3:30 p.m. to 2 a.m. the following day. This move is part of Ko...

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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
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