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The Korea Herald

Markets

May 08, 2024
Over 80,000 millionaires, 20 billionaires in Seoul: report

There are over 80,000 individuals with wealth exceeding $1 million residing in Seoul, making it the 19th city in the world with the highest number of millionaires, a recent study found. Around 82,500 residents in Seoul have wealth exceeding $1 million as of December, according to the “2024 World’...
May 08, 2024
Mirae Asset Securities reaps fruits of global growth

Mirae Asset Securities, Korea’s largest stock brokerage company, has yielded solid results and created a strong impetus for growth in overseas markets after two decades of global expansion. Park Hyeon-joo, chairman of the Mirae Asset Financial Group, which covers comprehensive financial services ...
May 08, 2024
Kakao Bank hits record high quarterly profit in Q1

South Korean online-only lender Kakao Bank announced Wednesday that its net profit hit a record high of 111.2 billion won ($81.44 million) in the first quarter, a 9 percent increase from the previous year. Operating profit for the same period was 148.4 billion won, up 8.8 percent from last year. ...
May 08, 2024
Minister pledges support for Naver in Line dispute

Korea will put Naver’s interest in the forefront in coming up with countermeasures to cope with the Korean IT firm’s conundrum of the Japanese government’s pressure on Naver to give up its ownership in Line, a leading messaging app in Japan that Naver has fostered for over a dozen years, the Kor...
May 08, 2024
Korean battery makers heave sigh of relief over 2-year IRA reprieve

South Korea's battery industry has secured a two-year reprieve from the US Inflation Reduction Act restrictions on electric vehicle batteries containing Chinese graphite, giving it time to diversify its supply chain while the Korean government has committed 9.7 trillion won ($7.1 billion) in policy...
May 07, 2024
Dried seaweed prices skyrocket to highest-ever level

The wholesale price of gim, or dried seaweed, in South Korea in April nearly doubled from last year, rising to its highest-ever level. A 100-sheet package of gim was traded at an average of 10,089 won ($7.4) in April, soaring by 80.1 percent compared to the same month in 2023, according to the sta...
May 07, 2024
NPS commits record W1.5tr for alternative investments

South Korea's National Pension Service will pour a record 1.5 trillion won ($1.1 billion) in alternative assets managed by external managers this year, the largest such allocation in the fund's history. The majority of the sum, 1 trillion won, will go to private equity funds, according to a recent...
May 06, 2024
Value-up program: Market disappointment does not mean a failure, just yet

The Korean government's corporate value enhancement guidelines revealed last week may have disappointed investors, yet experts believe there is room for improvement. After a three-month wait following the initial announcement of the corporate value-up program in February, the Financial Services Co...
May 06, 2024
Woori to re-enter brokerage business with acquisition of Korea Foss Securities

Woori Financial Group said Friday that it will launch a new brokerage arm in the third quarter by acquiring digital brokerage firm Korea Foss Securities and merging it into its existing investment banking subsidiary. The tie-up plan between Woori Investment Bank and Korea Foss Securities marks the...
May 03, 2024
Samsung chief returns from Europe after meeting with Pope, business leaders

On April 26, Lee met with top executives of the German optics manufacturer Zeiss, a crucial partner for the Korean tech giant's push to lead the burgeoning market for artificial intelligence chips. He toured the Zeiss headquarters in Oberkochen and also discussed long-term partnership with Zeiss G...
May 03, 2024
KASA chief vows full support for private-led space missions

Korea’s new state space agency, the Korea AeroSpace Administration, or KASA, will focus on rearranging roles with the private sector to support companies to lead commercial space developments while the government concentrates on long-term space projects, the nominee for the top leadership position...
May 02, 2024
Inflation eases in April, continues ‘bumpy’ ride

South Korea's inflation fell to the 2 percent range as the country’s directive to lower price growth goes down a “bumpy” path on fluctuations in the oil and agricultural prices, data showed Thursday. Consumer prices, a key metric of inflation, rose by 2.9 percent in April, marking a 0.2 percent...
May 02, 2024
Global X Canada debuts as Mirae Asset aims unified global ETF brand

Mirae Asset Global Investments announced Thursday that its Canadian exchange-traded fund subsidiary, Horizons ETFs, is rebranded as Global X Canada, aligning with an integrative strategy of its global ETF offerings under the unified brand, Global X. Since being acquired by Mirae Asset Global Inves...
May 02, 2024
[Herald Interview] Former IEA chief calls for strong global governance to achieve net zero

The Paris Agreement, an international treaty on climate change, calls for limiting the global temperature increase to 1.5 degrees Celsius above pre-industrial levels, stressing that emissions need to be reduced by 45 percent by 2030 and reach net zero by 2050. Nobuo Tanaka, former executive direct...
May 02, 2024
[KH Explains] Will alternative trading platform shake up Korean stock market?

Korea’s stock market is set to enter a new phase with the upcoming launch of the first alternative trading system for the Korea Exchange, the nation’s sole bourse operator that has enjoyed almost 70 years of monopoly. Nextrade, a consortium of 34 securities and tech firms established in November...

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EDITOR'S PICKS

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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