Windfall tax on Korean banks to create quintuple burden

Koreans are piqued by banks raking in extraordinarily handsome profits and handing out generous bonuses amid the high-interest rate environment that...

LX International to buy Indonesia's PT AKP for nickel mining

LX International Corp., the trading unit of South Korea’s LX Group, said on Tuesday it is slated to acquire a 60% stake in Indonesian miner PT...

Goldman Sachs promotes YK Yoon in Seoul to MD

The Goldman Sachs Group Inc. named YK Yoon, head of fixed-income, currency and commodities (FICC) of the Seoul office, as a new managing director (M...

Woori Bank opens regional headquarters in Bangladesh

South Korea's Woori Bank announced on Friday it opened its new regional headquarters in Bangladesh. In 1996, the bank launched its first branch...

Korea plans wider crackdown on foreigners’ short-selling

South Korea’s financial regulator plans wider investigations into illegal short-selling trades by major foreign investment banks to ease conce...

Woori Bank to add two new branches in India 2024

South Korea's Woori Bank plans to open two new branches in India in the first half of next year. The bank announced on Tuesday it has obtained ...

NS Shopping to support partner's Indonesian export

South Korean online shopping mall operator NS Shopping Co. announced on Friday it will support the overseas expansion of its partner, Taeyoung.Taeyo...

S.Korea’s Q3 GDP up 0.6% on-quarter on recovery in exports

South Korea’s economy in the third quarter grew 0.6% from the previous quarter, extending a growth streak to three consecutive quarters on a r...

KB Financial beats profit forecast on higher interest rates

KB Financial Group Inc., South Korea’s top financial holding company by assets, on Tuesday reported better-than-expected net profit in the thi...

BOK chief says inflation may ease more slowly than expected

South Korea’s central bank chief on Thursday said inflationary pressure in Asia’s fourth-largest economy may ease more slowly than earli...

Bank Woori Saudara to open 160th Indonesian branch

South Korea's Woori Bank announced on Wednesday its Indonesian subsidiary Bank Woori Saudara is set to open a new outpost in Pekanbaru, Sumatra's Ri...

Korea Inc.’s record short-term borrowing raises specter of debt overhang

South Korea’s short-term corporate loan growth is picking up at a fast pace, stirring concern among some analysts who see parallels to the 200...

HSBC, BNP Paribas to be fined for naked short sales in S.Korea

South Korea's Financial Supervisory Service (FSS) will fine the Hongkong and Shanghai Banking Corporation Ltd. (HSBC) and Bank BNP Paribas the large...

KakaoBank to acquire 10% stake in Super Bank Indonesia

South Korea's KakaoBank Corp. announced on Tuesday its decision to invest in Indonesia's digital banking entity PT Super Bank Indonesia.This move ...

Dollar/won in wildest swing in 13 yrs despite intervention

The South Korean won suffered its wildest fluctuation against the dollar this year since 2010, shrugging off heavy dollar-selling intervention by lo...

Korean banks go digital in Southeast Asia for non-interest gains

South Korea’s top four banks are strengthening their overseas operations, particularly in the digital banking business, to increase their non-...

Korean Hana ties up with Saudi EXIM Bank for Middle East biz

Hana Financial Group, South Korea’s third-largest financial holding company, joined hands with the Saudi Export-Import Bank to expand its mark...

Net-zero by 2050 will hit S.Korea’s economic growth: BOK

The net zero emission target by 2050 is forecast to lower South Korea’s economic growth rate by an average of 0.6 percentage point per year ...

Daewon Pharma to export $3 mn worth of Pelubi to Indonesia

South Korea's Daewon Pharmaceutical Co. will export its nonsteroidal anti-inflammatory drug (NSAID) Pelubi to the Indonesian market. It's South Kore...

KT provides digital document storage for Shinhan Bank

South Korea's KT Corp announced on Friday the launch of a new digital document storage service at Shinhan Bank, linking with a public electronic doc...

Samsung Galaxy to help locate lost credit cards

Samsung Electronics Co. signed a business agreement with KB Kookmin Card and American Express on Tuesday for the launch of an Internet-of-Things (Io...

Koreans’ US dollar selling spree continues in anticipation of weaker USD

US dollar investors in South Korea have not backed down from their shorting position of the currency despite the strengthening dollar against the Ko...

Celltrion builds clinical data bank for new biosimilars

The use of data and computing is a new paradigm in the biopharmaceutical industry, reducing the new drug development time and cost, Celltrion Inc. C...

KB Financial Vice Chairman Yang named sole chairman candidate

KB Financial Group Inc. has chosen Yang Jong-hee, its vice chairman, as the sole candidate for its next chief in charge of South Korea’s leadi...

SK Ecoplant to build data center linked to landing station in Pohang

South Korea's SK Ecoplant is set to establish, for the first time in South Korea, a global data center linked to a landing station in Pohang, North ...

Hana Bank to enter digital asset custody sector with BitGo

South Korea's Hana Bank on Tuesday said it signed a strategic business agreement with BitGo, a Palo Alto, California-based global digital asset cust...

Shinhan Securities handles listing of private hospital in Indonesia

Shinhan Investment & Securities announced on Thursday that its local subsidiary in Indonesia has organized the listing of private hospital RSCH ...

Korean banks' earnings hit hard by unpaid debts, rate hikes

South Korea’s major banks expect their earnings in the second half to fall on the soaring distressed debts of households and companies due to ...

DGB Fin to set up asset management firm in Singapore

South Korea’s DGB Financial Group is poised to set up an asset management unit in Singapore, its first overseas fund management arm, according...

BOK chief’s top mission: Soft landing for household debt

South Korea’s central bank chief on Thursday vowed to reduce household debt without causing a severe economic downturn as the Bank of Korea he...