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The Korea Herald

Markets

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...
May 28, 2024
S. Korean biz leaders meet with UAE president

Before the meeting took place in the afternoon, some 200 business people and government officials from both countries gathered at the Korea-UAE Business Investment Forum, hosted by the Korea Chamber of Commerce and Industry and the United Arab Emirates Embassy in Seoul, held at the Four Seasons Hot...
May 27, 2024
KB Financial to announce ‘value-up’ plans in Q4

KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corpo...
May 27, 2024
Korea’s EV investment in Georgia prompts more flights to Atlanta

South Korean companies’ growing investment in Georgia has led to increases in the number of flights and passengers traveling to Atlanta, the capital and most populous city in the state, according to industry sources Monday. “Delta Air Lines saw a significant increase in the number of business tr...
May 27, 2024
Korea ushers in new space era with KASA launch

With the maximum quota of KASA employees set at 293, the new space body began operation with about 110 people, including public officials who transferred from the Science Ministry and elsewhere. The Ministry of Science and ICT reorganized its institutional chart as the space bureaus have been switc...
May 26, 2024
KRX CEO pledges to turn Korea discount into premium

The chief of Korea Exchange, the country's sole bourse operator, vowed Friday to boost the market valuation of companies listed on the local stock market with a seamless backup of the country’s “corporate value-up” directive. During a press conference commemorating his first 100 days in office,...
May 26, 2024
Banks to resume compensation talks for ELS losses

Major local banks are expediting compensation procedures for losses tied to Hong Kong-linked derivative products, with some poised to distribute payments this week. KB Kookmin Bank, the largest seller of equity-linked securities tracking the troubled Hang Seng China Enterprises Index, will officia...

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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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