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Hana Bank said Tuesday it signed a partnership deal with Japan’s largest payment processing company, GMO Payment Gateway, to launch a cross-border payment and settlement system for domestic companies expanding into Japan. Under the partnership, Hana and GMO will collaborate in providing a wide ra...
Housing supply measures, encompassing both the public and private sectors, revised to favor households with newborns came into effect Monday, with the intention to lower the burden of high housing costs as one of the factors pulling down the country’s fertility rate to the world's lowest level. S...
The Export-Import Bank of Korea, or Eximbank, announced it will form a 1 trillion won ($745 million) fund to support businesses in high-tech strategic industries, especially semiconductors and batteries. The policy lender will put in 150 billion won toward the fund which will close out at 1 trilli...
The Industrial Bank of Korea on Monday announced the establishment of a strategic investment fund worth 100 billion won ($75 million) to nurture businesses with innovative digital technologies. The fund will be pooled by the policy lender and its affiliate IBK Capital, with each investing 90 billi...
With the rapid influx of global e-commerce into the domestic market, the Fair Trade Commission is set to launch an extensive market survey starting Tuesday, to examine the evolving landscape and structure of the e-commerce market in Korea. The survey marks the first step in gathering data to produ...
Hyundai Motor Group said Monday that it has joined hands with Red Sea Global to implement eco-friendly future mobility to Saudi Arabia’s development project to open luxurious and pro-nature tourism resorts along the west coast of the Middle Eastern country. According to the announcement, the repr...
A majority of large companies in South Korea disadvantage applicants who craft their resumes using artificial intelligence services, such as ChatGPT, according to a survey released Sunday. The Labor Ministry and the Korea Employment Information Service unveiled a report on employment trends in the...
The antitrust regulator said Monday it will launch a study into the e-commerce sector to analyze the market structure and check competition issues as part of efforts to ensure fair business practices amid a growing number of online shopping consumers. Four-week preliminary market research will beg...
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...
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...
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 ...
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...
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...
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...
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...
Korea’s top finance firms put aside W1.7tr for Hong Kong-tied ELS compensation
Samsung mobile chief, Google device head meet in Seoul
Posco Future M, Honda to launch battery materials venture in Canada
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
Experts raise concerns about Japan putting pressure on Naver over Line
SK hynix profits soar on AI chip boom