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The Korea Herald

Finance

July 05, 2024
FSC chief nominee vows to keep tight rein on household debts

First Vice Finance Minister Kim Byoung-hwan, the nominee to head the Financial Services Commission, said he must put in all efforts to bring down the fast growth of household debts on Friday. Kim, a 53-year-old macroeconomics expert, was tapped to the post to lead the country's top financial polic...
July 05, 2024
Value-up Program optimism brings Kospi to two-year high

South Korean shares hit the highest level in nearly two and half years on Thursday, with much-awaited tax incentive plans for the Korean government’s program to boost the stock market taking shape. The benchmark Kospi rose 1.11 percent to close at 2,824.94, reaching the highest since January in 2...
July 04, 2024
First vice finance minister tapped as FSC chief

First Vice Finance Minister Kim Byoung-hwan has been nominated to lead the Financial Services Commission, South Korea's top financial policy-making unit, the presidential office announced Thursday. In nominating Kim, the office noted, "With his exceptional insights into finance and macroeconomics,...
July 04, 2024
Mirae Asset chief named AIB executive of the year, first feat for Asian financier

Mirae Asset Financial Group Chairman Park Hyeon-joo on Wednesday received the International Executive of the Year Award from the Academy of International Business, a top industrial honor, recognized for his pivotal role in lifting the firm as a global financial service provider. Park was the first...
July 03, 2024
Korea to weigh in on food delivery fees

South Korea plans to form a public-private consultative group to address the rising costs of food delivery fees this month to help lift the burden on restaurant owners, the government announced Wednesday. The plan is part of pangovernmental measures to support small business owners. Government off...
July 03, 2024
Korea soft-launches longer forex trading hours

South Korea’s won-dollar trading on the first day with extended trading hours has gotten off to a smooth start with ample liquidity and no significant increase in volatility, the country’s financial authorities said Tuesday. Starting from Monday, Korea has extended won trading hours to make the ...
July 01, 2024
Business arrears of self-employed hits all-time high in Q1: report

The amount of overdue business loans taken by self-employed business owners in South Korea surpassed 10 trillion won ($7.2 billion) for the first time ever in the first quarter of this year, marking the highest figure ever since the government started tallying the figure in 2009. Overdue business ...
July 01, 2024
Nine One Hannam sets record for highest apartment price ever

The record for the most expensive apartment ever sold in South Korea was broken in June, according to government data tracking real estate transactions. The country's new most expensive apartment is a 273.94-square-meter first-floor unit at Nine One Hannam in Yongsan-gu, central Seoul, which sold f...
July 01, 2024
Korea’s chip exports reach all-time high in June

South Korea’s semiconductor exports soared to a record high in June, backed by strong global demand, data from the Trade Ministry showed Monday, helping the country's exports to continue their upward trajectory. The country’s total exports stood at $57.07 billion in June, jumping 5.1 percent on-...
July 01, 2024
Forex market hours extended to 2 a.m.

South Korea’s foreign exchange market will operate until 2 a.m. from Monday, while its crypto market is to enter a new phase with the enactment of the virtual asset user protection law this month, as part of new government measures to come into place in the latter half of this year. The Finance M...
June 28, 2024
Woori Financial Group reveals progress in sustainable management

Woori Financial Group said Friday it released its annual sustainability report containing the conglomerate's initiatives and achievements pursued last year to strengthen its environmental, social and governance endeavors. “At Woori Financial Group, all executives and employees will work together ...
June 27, 2024
Finance Minister indicates inheritance tax reform in July

The South Korean government is to revise the inheritance tax scheme that imposes up to a 50 percent tax for big companies here as part of the government’s tax code revision slated for late July, Finance Minister Choi Sang-mok said Thursday. “I personally prioritize the inheritance tax reform, wh...
June 26, 2024
Mirae Asset Global Investments' global assets exceed W340tr milestone

Mirae Asset Global Investments' assets exceeded 340 trillion won ($244.7 billion), with over 40 percent being managed on behalf of overseas clients, boasting extensive overseas footholds buoyed by its signature exchange-traded funds. In 2003, the firm’s aggressive market expansion began with Mira...
June 26, 2024
Mirae Asset Securities bolsters global expansion with India, Europe push

Mirae Asset Securities, South Korea's largest stock brokerage company, has been achieving feats in its global expansion through its localization strategy coupled with acquisitions of financial firms in overseas markets. With Mirae Asset Financial Group founder and Chairman Park Hyeon-joo taking th...
June 25, 2024
Kakao Bank launches Dollar Box forex service

Kakao Bank, the internet banking arm under Korean tech behemoth Kakao, introduced its new Dollar Box feature on Tuesday, in hopes of bringing the US greenback into users' everyday life. “The most sought-after foreign currency in Korea is the US dollar. It is a key currency that is acknowledged as...

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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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