Queen urges unity after Scotland rejects independence

The Korea Herald > Business

Piketty warns of S. Korea's chaebol factor

Thomas Piketty, whose treatise on economic equality has taken the international economic community by storm, raised the need for property renewal in South Korea where massive wealth is often inherited among a few, select conglomerate clans. "You cannot have the same families forever. There...

Updated : 2014.09.20 09:50

Hana Financial pushes for early merger in Oct.

Top management of Hana Financial Group decided to ask the Financial Services Commission for an approval to integrate with the Korea Exchange Bank in October, a Hana group chairman said on Thursday. “...

Updated : 2014.09.19 21:06

Korea promotes rural development model

Korea Rural Community Corp., an affiliate of the Ministry of Agriculture, Food and Rural Affairs, is expanding international exchanges in an effort to export the nation’s rural development model. “A...

Updated : 2014.09.19 21:06

Seoul shares end higher on abated Scotland concerns

South Korean stocks closed higher Friday amid abated geopolitical uncertainties in Europe, as voters in Scotland chose to stay part of the United Kingdom, analysts said. The benchmark Korea Composite Stock Price Index gained 6.08 points, or 0.3 percent, to 2,053.82. Trading volume was mode...

Updated : 2014.09.19 21:05

Price gap between preferred, common stocks hits 10-year low

The average price gap between common and preferred stocks of major South Korean companies dipped to its lowest in a decade as investors and funds bought up equities tied to better dividends, data showed Friday. Preferred stocks are generally traded at cheaper prices than common stocks beca...

Updated : 2014.09.19 21:05

Credit agencies downgrade shipbuilders’ ratings

Korea Ratings, a leading local credit appraiser, said Friday that it has downgraded its credit ratings for local shipbuilders like Hyundai Heavy Industries, but has retained a stable outlook. The ratings agency lowered its long-term credit rating for Hyundai Heavy Industries, the world’s ...

Updated : 2014.09.19 21:05

Korean won extends loss to dollar

The South Korean won continued to decline against the U.S. dollar Friday, extending its loss to the second consecutive session as it moves in tandem with the global trend of the strong dollar following the Federal Reserve meeting.The local currency ended at 1,044.60 won against the greenba...

Updated : 2014.09.19 21:05

Korea, Turkey sign FTA in service, investment

South Korea and Turkey initialed a free trade agreement for their investment and service sectors Thursday, which will complement a trade pact that went into effect last year.The new South Korea-Turkey FTA on service and investment will soon undergo reviews by each side, according to the Mi...

Updated : 2014.09.19 21:05

Will Hyundai chief hit the jackpot again?

Hyundai Motor Group chairman Chung Mong-koo raised eyebrows among stock market investors and analysts on Thursday when a Hyundai Motor-led consortium won its bid for Korean Electric Power Corp.’s off...

Updated : 2014.09.19 21:04

Hyundai Motor justifies KEPCO land purchase amid stock dive

While investors and markets were still digesting the whats and whys of Hyundai Motor Group's purchase of land for more than three times the assessed value, the global automotive giant argued Friday it...

Updated : 2014.09.19 15:36

LG sets Guinness record with billboard

LG Electronics Inc., South Korea's No. 2 tech giant, said Friday it has successfully won a Guinness World Record title for its new billboard installed in Saudi Arabia, which boasts a size of two football fields using 1,800 tons of steel.The 250-meter-wide, 12-meter-high sign, constructed n...

Updated : 2014.09.19 10:16

National debt to hit W570tr next year

The government plans to spend 376 trillion won ($361 billion) in 2015, up 5.7 percent from this year, as it seeks to revitalize the economy and increase welfare.The Ministry of Strategy and Finance sa...

Updated : 2014.09.18 21:45

Hyundai Motor lands Gangnam KEPCO site

Hyundai Motor, South Korea’s largest automaker, has won the bid for Korea Electric Power Corp.’s office property in the affluent Gangnam district of Seoul, the state-run power distributor said.KEPCO...

Updated : 2014.09.18 21:44

[Newsmaker] Kakao to launch news services

Kakao Corp., South Korea’s biggest mobile messenger service provider, said Thursday it plans to start its own local news services later this year, issuing a challenge to Naver Corp., which dominates ...

Updated : 2014.09.18 21:42

Farmers protest rice tariff, storm parliament meeting

The government’s decision to set the tariff on rice imports at 513 percent and to liberalize the domestic rice market next year triggered an intense backlash from local rice farmers.A dozen farmers and civic group members broke into the National Assembly on Thursday morning, halting a mee...

Updated : 2014.09.18 21:29