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The Korea Herald

Markets

March 25, 2024
Executives get paid 11 times more than average employees: report

The average salary of an executive of a major South Korean corporation is almost 11 times that of an average employee working at those companies, a report by an online think-tank monitoring local conglomerates showed Sunday. Chaebol.com analyzed the salaries of the people working for 162 subsidiar...
March 25, 2024
KB Financial Group names first woman board chair

KB Financial Group picked banking expert Kwon Seon-joo as its board chair, making her the first woman to serve in the role. The decision was approved at a board meeting on Friday. With over 30 years of experience in the financial industry, Kwon served as the CEO of the Industrial Bank of Korea fr...
March 22, 2024
Woori Bank first to start ELS compensation

South Korean banks are beginning compensation measures for losses stemming from the misselling of equity-linked securities tied to Hong Kong's Hang Seng China Enterprises Index, with the sector's smallest seller, Woori, leading the initiative. Woori Bank officially announced Friday it would begin ...
March 22, 2024
US official notes Korean firms' move not to sell used chip equipment to China as 'encouraging'

A senior US official on Thursday portrayed South Korean companies' reported move to stop selling used semiconductor manufacturing equipment to China as "encouraging," as Washington has been seeking tighter export controls on key technologies amid an intensifying Sino-US rivalry. Alan Estevez, unde...
March 21, 2024
Korea sighs in relief on US Fed's dovish signal

While the possibility of the US Federal Reserve cutting its base rate three times this year has sent Seoul shares higher, the Bank of Korea is likely to start bringing down its key rate in July, experts viewed. Through a two-day Federal Open Market Committee meeting, the US Fed maintained its benc...
March 21, 2024
Gov't pledges continued support for chip sector, aims export of $120 bln

Industry Minister Ahn Duk-geun said Thursday the government will proactively support the semiconductor industry, and accelerate the development of high-bandwidth memory and artificial intelligence chips to achieve the annual export target of $120 billion. "The government will support the timely es...
March 20, 2024
Japan's historic rate pivot won't roil Korea: experts

The Bank of Japan's first interest rate hike in almost two decades has rattled the global economy, yet it may not have as much of an impact in South Korea, at least not for a while. The central bank of Japan on Tuesday announced it is lifting its short-term policy rate to a range of 0 to 0.1 perce...
March 20, 2024
Myeong-dong bustles again as retail shops fill up

Though plagued by emptied-out stores and quiet streets in the wake of the pandemic, the Myeong-dong area in central Seoul is looking to reclaim its title as the top retail district in Korea, seeing a sharp drop in its vacancy rate. Myeong-dong, a major tourist destination here, was hit severely by...
March 20, 2024
[Contribution] Don’t just wait for the lucky dragon

By Marc Van de Walle A New Year is always a time to reflect on the previous year, what we might learn from it and then apply these learnings going forward. What better time for reflection than now, as we usher in the Year of the Dragon, considered one of the most auspicious creatures in the Chines...
March 20, 2024
Hana pledges W30b for emergency child care

Hana Financial Group announced Wednesday the introduction of its 365 Day Hana Child Care initiative, aiming to tackle South Korea’s declining birth rate by offering reliable back-up child care options. An inauguration ceremony took place at a child care center in Nowon-gu, northern Seoul, on Tues...
March 20, 2024
Hanjin signs MOU with Mongolia firm for logistics partnership

Hanjin Logistics said Wednesday it has signed an initial pact with a Mongolian company to explore business opportunities in the East Asian country's logistics market. Under the memorandum of understanding signed in Seoul on Tuesday, Hanjin Logistics and Mongolia's comprehensive logistics firm Tuus...
March 19, 2024
[KH Explains] Will Kakao Bank secure footing in untapped Thai market?

Thailand has long remained an untapped market for South Korean financial firms since the exodus of the financial crisis in the late 1990s. Now Kakao Bank, the nation’s No. 1 Internet-only bank, is eyeing an expansion into the burgeoning digital banking market in Southeast Asia's second-largest eco...
March 19, 2024
New marriages bounce back buoyed by international couples

One in 10 couples who tied the knot in South Korea last year included a partner of foreign nationality. The growing number of international marriages helped the total number of newly married couples last year to rebound for the first time in 12 years. The number of international marriages stood at...
March 19, 2024
Korea pledges W452tr in climate finance until 2030

The South Korean government and local banks on Tuesday pledged to jointly invest 452 trillion won ($337.4 billion) until 2030 to tackle the climate crisis. The move aligns with the country's intensified efforts to achieve carbon neutrality by 2050 and bolster domestic firms' competitive edge in ov...
March 19, 2024
Tuggle joins Goyang, Yourside in promoting pet-related industries

DAO Research Institute, operator of pet service platform Tuggle, signed a memorandum of understanding with the city government of Goyang, Gyeonggi Province, and the Yourside volunteer group to collaborate on developing pet-related industries, officials said Tuesday. The memorandum was to ensure th...

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