Korean banks stop ELS sales after HSCEI debacle

Korean banks stop ELS sales after HSCEI debacle

South Korean banks are scurrying to suspend the sale of equity-linked securities (ELS) after the country’s financial regulator said it may con...

Korea needs population growth for sustainability: World Bank chief

Korea needs population growth for sustainability: World Bank chief

World Bank President Ajay Banga said on Thursday that South Korea needs to boost population growth by easing the fierce competition in education and...

Harim, KDB in dispute over $5 bn HMM deal conditions

Harim, KDB in dispute over $5 bn HMM deal conditions

Talks to sell South Korea’s No. 1 ocean carrier HMM Co. to Harim Group, a leading poultry processor, have made little progress amid disputes o...

Korean banks flock to Poland, Korean Inc.’s new manufacturing hub

Korean banks flock to Poland, Korean Inc.’s new manufacturing hub

South Korean banks are in a race to advance into Poland to support Korean companies rushing to build factories in the new offshore manufacturing hub...

Why spend more on an IPO? No invitation to foreign banks

Why spend more on an IPO? No invitation to foreign banks

South Korea’s Viva Republica Inc. has recently invited a handful of domestic brokerage companies to give presentations to revive its IPO plan....

South Korean central bank not to increase gold reserves

South Korean central bank not to increase gold reserves

South Korea’s central bank does not plan to buy more gold for its foreign exchange reserves, although the monetary authority has not purchased...

Woori Bank issues $700 mn in ESG bonds

Woori Bank issues $700 mn in ESG bonds

South Korea's Woori Bank announced on Thursday that it has issued $700 million (940 billion won) worth of foreign currency ESG (environmental, socia...

Woori Financial to bolster private banking service: chairman

Woori Financial to bolster private banking service: chairman

Woori Financial Group, South Korea’s fourth-largest financial holding company, will reinforce its wealth management service for high-net-worth...

Toss Bank launches commission-free foreign exchange services

Toss Bank launches commission-free foreign exchange services

South Korea’s fintech platform Toss Bank said on Thursday it has launched commission-free foreign exchange services for the first time as a do...

BOK hints at policy rate peak but in no hurry to cut rates

BOK hints at policy rate peak but in no hurry to cut rates

South Korea’s central bank on Thursday hinted its policy rate may have peaked after leaving the rate unchanged for the eighth straight meeting...

Gov Rhee Chang-yong turning BOK into dynamic central bank

Gov Rhee Chang-yong turning BOK into dynamic central bank

Bank of Korea (BOK) Governor Rhee Chang-yong has transformed the central bank into a dynamic monetary authority by cooperating with not only oversea...

Yen deposits at Korean banks surge to record $9.9 bn

Yen deposits at Korean banks surge to record $9.9 bn

Yen deposits at South Korean banks grew by the largest-ever monthly amount in November to a record $9.92 billion, central bank data show, as investo...

Korean banks enjoy robust earnings in Asian emerging markets

Korean banks enjoy robust earnings in Asian emerging markets

Four major banks in South Korea are enjoying healthy earnings from overseas businesses, particularly in Asian emerging markets.KEB Hana Bank posted ...

BOK chief says rates need to stay high for over 6 months

BOK chief says rates need to stay high for over 6 months

South Korea’s central bank chief on Thursday said interest rates will have to stay high for more than six months, leaving the door open for an...

Korean ELS investors biting nails over sharp falls in Hong Kong shares

Korean ELS investors biting nails over sharp falls in Hong Kong shares

Chinese shares listed on the Hong Kong bourse have fallen sharply so far this year, placing the city’s main stock index, the HSCEI, among the ...

S.Korea to pour $26 bn in UK’s renewables, infrastructure

S.Korea to pour $26 bn in UK’s renewables, infrastructure

South Korea’s sovereign wealth fund, banks and other private sector companies plan to pour £21 billion ($26.3 billion) in renewables, in...

Woori Bank Vietnam opens PB branch in Hanoi

Woori Bank Vietnam opens PB branch in Hanoi

South Korea's Woori Bank revealed on Tuesday that the Vietnamese corporation Woori Bank Vietnam opened its 22nd branch in Starlake, Hanoi. Star...

Korea Inc.’s dividend repatriation soars on new tax breaks

Korea Inc.’s dividend repatriation soars on new tax breaks

Major companies in South Korea, such as affiliates of Samsung, LG and Hyundai Motor Group, are bringing larger amounts of capital back home from abr...

Windfall tax on Korean banks to create quintuple burden

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...

Goldman Sachs promotes YK Yoon in Seoul to MD

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

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

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

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 ...

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

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 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

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

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

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

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...

Korea's GS Caltex faces FTC probe into intra-group trading

Korea's GS Caltex faces FTC probe into intra-group trading

The Korea Fair Trade Commission (FTC) has begun an investigation process for alleged intra-group transactions between GS Caltex Corp., the country&r...

Saudi Crown Prince bin Salman courts Korean AI startups as Riyadh, Abu Dhabi vie to build tech hubs K Shipbuilding up for sale as Korean shipyards ride new boom Samsung to buy US health tech firm Xealth in digital health push Korean waste management firm Koentec on market for $730 mn US unveils 25% tariffs on S.Korea, sets Aug. 1 deadline for agreement