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The Korea Herald

Markets

June 05, 2024
[Hello India] Krafton eyes bigger footing in India

By Kan Hyeong-woo ( hwkan@heraldcorp.com )
June 04, 2024
Energy shares rally on potential East Sea jackpot

Stock prices of oil- and gas-related companies extended their gaining streak Tuesday, backed by major oil and gas prospects off the East Coast following President Yoon Suk Yeol’s announcement from the previous day. With the government approving exploratory drilling for a potential 14 billion barr...
June 04, 2024
[KH Explains] Has South Korea really struck oil?

What exactly is a geophysical survey? A geophysical survey is a crucial preliminary step in exploring natural resources. It employs methods like seismic, gravity, magnetic and electromagnetic exploration to indirectly assess the subsurface's structure and composition, akin to taking an X-ray of th...
June 04, 2024
Hana’s Travlog currency exchange service hits 5m users

Hana Financial Group announced Tuesday that its mobile currency exchange service, Travlog, has surpassed over 5 million subscribers, with the total amount exchanged exceeding 1.9 trillion won ($1.39 billion). Launched in July 2022, Travlog is a digital service that allows users to exchange currenc...
June 03, 2024
[KH Explains] Korea yet to welcome spot crypto ETFs

While the US Securities and Exchange Commission made another move to embrace cryptocurrency by approving exchange-traded funds tied to the price of ether, the most famous crypto after bitcoin, spot cryptocurrency ETFs remain out of reach for South Korean investors. On May 23, the US SEC gave the g...
June 03, 2024
MBK starts sell-off talks for Homeplus Express

Asia's largest private equity firm MBK Partners is to push for the sale of Homeplus Express, a supermarket unit of Homeplus, according to industry officials Monday. Though details of the sales plan have not been released yet, the private equity firm has kicked off the process by selecting Morgan S...
June 03, 2024
Toss Bank outpaces bigger rivals in workers' pay

Internet-only lender Toss Bank led the local banking industry by paying its employees the highest salaries last year, surpassing even the nation's top five commercial banks. According to recent management disclosure reports from the Korea Federation of Banks, Toss Bank, operated by financial techn...
June 03, 2024
Korea bets big on gas, oil prospects in East Sea

South Korea has approved a large-scale project to carry out exploration drilling of potentially massive gas and oil reserves, which could hold up to 14 barrels of gas and oil in the deep sea off the country’s southeastern coast, President Yoon Suk Yeol announced Monday. Yoon highlighted that the ...
June 02, 2024
Korean builders bet big on Rwanda’s fast-growing economy

Korea’s government and industrial groups are upping efforts to nurture new opportunities and support Korean businesses. In April, Korea’s Land Minister Park Sang-woo visited Rwanda as a special envoy for President Yoon Suk Yeol to pave the way for bilateral cooperation in the fields of construct...
June 02, 2024
Korea seeks to bolster ties with Tanzania, key supply chain partner

President Yoon Suk Yeol will hold summit talks with African leaders on June 4 and 5 in Seoul – the first such summit ever among the leaders of all African countries and South Korea. Tanzanian Ambassador to Korea Togolani Edriss Mavura said the upcoming summit is expected to break barriers between...
June 02, 2024
Chubb unites Korean insurance arms under 'Lina' brand

US insurance group Chubb is uniting its three Korean affiliates under the Lina brand, seeking to create synergies by integrating brand identities. Formerly known as Ace American Fire and Marine Insurance Company Korea, Chubb's general insurance subsidiary announced Friday that it will rebrand as L...
June 02, 2024
Toss Bank racks up profits for third quarter in row

Toss Bank has achieved its third consecutive quarter of net profit, fueling anticipation for the internet-only bank's first profitable year in 2024. The bank announced on Friday a net profit of 14.8 billion won ($10.72 million) in the first quarter, marking a turnaround from the net loss of 28 bil...
May 30, 2024
Gyeonggi governor urges sweeping changes to survive uncertainties

Governor Kim, a former finance minister, echoed the ambassador’s view in his special lecture that followed the welcoming speech. “The world's economic order is completely reshaping amid hegemonic war, nationalism and protectionism,” he said. “Korea should see itself within the rapidly changing...
May 29, 2024
Cheap shot? Soju by the glass gets mixed reactions

South Korea widened the range of drinks that restaurants can sell by the glass Tuesday, as drinkers increasingly prefer to consume alcohol in smaller amounts, rather than by the bottle, according to government officials. Previously, restaurants were restricted from selling most types of alcoholic ...
May 28, 2024
Finance minister hints at tax incentives for local firms

The South Korean government is ramping up discussions on specific tax incentives aimed at enhancing the market value of local companies, with plans to conduct public hearings over the next two months. "We talked about tax incentives for the Value-up Program on several occasions. But now is the tim...

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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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