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The Korea Herald

Finance

April 08, 2024
Shinhan joins race for Korea’s 4th internet-only bank

Shinhan Bank, one of the country's top commercial lenders, has thrown its hat in the ring for a license that would make it the country's fourth internet-only bank, competing in the digital space with K bank, Kakao Bank and Toss Bank. Shinhan has joined a consortium launched by Douzone Bizon, an en...
April 04, 2024
IBK Venture Investment to inject W500b into startups

IBK Venture Investment, an investment arm of the state-owned Industrial Bank of Korea, pledged to inject 500 billion won ($370 million) into local startups over the next three years at an event in Seoul on Thursday. The investment unit, the ninth subsidiary under the IBK Financial Group, was found...
April 04, 2024
S. Korea, World Bank vow stronger cooperation on digital ID systems for developing nations

South Korea and the World Bank have agreed to enhance partnership on digital identification initiatives to share expertise and technologies related to South Korea's advanced digital ID system with developing nations, the state-run minting agency said Thursday. During a meeting held in Seoul last w...
April 03, 2024
Hana Bank opens nation’s largest forex dealing room

Hana Bank, South Korea's major commercial bank, opened a new dealing room -- the latest of its kind here -- in Seoul on Wednesday. Named "Hana Infinity Seoul" to signify the bank's ambition to expand its global reach, the new dealing room occupies the fourth and fifth floors of the lender's headqu...
April 03, 2024
Kakao Bank CEO joins Grab's board

Yun Ho-young, CEO of Kakao Bank, has been appointed as a new board member for Grab, the largest super-app operator in Southeast Asia, the Internet-only lender confirmed Wednesday. Yun was officially appointed as an outside director of Grab's board on Monday and will serve as a member of the board'...
April 01, 2024
More women break glass ceiling on financial group boards

South Korean financial groups have undergone a transition in their board composition, indicating governance changes centering on gender diversity and internal control. Given that a financial holding company’s board is the ultimate decision-making body engaging in establishing management strategie...
April 01, 2024
Internet-only banks soar past W100tr in assets

Last year witnessed remarkable growth for South Korea's three internet-only banks, as their combined value surged past the milestone 100 trillion won ($74 billion). The aggregate assets of Kakao Bank, K bank and Toss Bank reached approximately 101.61 trillion won by the end of last year, marking a...
April 01, 2024
Mirae Asset chief’s dividend donations reach W31.5b

Mirae Asset Financial Group founder and Chairman Park Hyeon-joo is donating 1.6 billion won ($1.2 million) he earned from dividends last year, marking the 14th straight year of his philanthropic tradition. On Sunday, the company disclosed that Park will endow his entire dividend income from Mirae ...
March 29, 2024
Banks rush to cough up misselling compensation

Korea's top lenders have all decided to accept the compensation guidelines suggested by the country's financial watchdog, agreeing to make up for the losses from the misselling of equity-linked securities tied to a Hong Kong index, with KB Kookmin Bank and Shinhan Bank joining the list Friday. Fol...
March 29, 2024
Hana Financial teams up with Credit Agricole to expand presence in Europe

Hana Financial Group, one of South Korea's top four finance conglomerates, has joined hands with Credit Agricole Corporate and Investment Bank to strengthen cooperation in expanding its business in Europe, the firm said Friday. The two entities have signed an agreement to expand cooperation in cor...
March 28, 2024
Korea misses out on global bond index boost

Korea failed to join the World Government Bond Index, a global benchmark that measures the performance of sovereign bonds, but it remains hopeful as the index provider gave a positive evaluation of its latest efforts to improve market accessibility. The WGBI, managed by Financial Times Stock Excha...
March 28, 2024
FSS chief vows to boost Korea's attractiveness to investors

Lee Bok-hyun, head of South Korea's Financial Supervisory Service, pledged Thursday to promote "sound and fair finance," aiming to enhance the country's allure as an investment destination for foreign investors. Lee addressed officials from global financial firms and foreign diplomats during the a...
March 28, 2024
FSS chief vows efforts to support economic recovery, corporate value-up program

The head of South Korea's financial regulator vowed Thursday to promote "sound and fair finance," stressing the need to help revitalize the economy amid high interest rates and inflation. Lee Bok-hyun, governor of the Financial Supervisory Service (FSS), stressed the need to further develop and pr...
March 27, 2024
Banks offer W600b to share profits

Korean banks have rolled out a financial package worth around 600 billion won ($444 million) to support small business owners and young people, with an aim to share their profits, according to the Korea Federation of Banks, an organization representing the lenders, Wednesday. The funding is a foll...
March 27, 2024
Investment banking veteran takes helm at NH Securities

Yoon Byung-un, an investment banking veteran, officially took office as the CEO of local brokerage house NH Investment & Securities, after winning approval at the annual shareholders’ meeting Wednesday. “We must be ready to make another leap without being satisfied with the present. The first pa...

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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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