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With regulatory change, Korea’s internet-only banks to see ownership shift, new players

South Korea’s internet-only banking sector is set to undergo a series of ownership changes and to see new market players, as a new regulatory change allowing nonfinancial institutions to own and oper...

Jan 16, 2019
Finance
SoftBank Ventures Asia hires Lee Seung-hoon as new CFO

SoftBank Ventures Asia, the venture investment arm of Japan’s SoftBank Group, announced Wednesday that it has hired Lee Seung-hoon as its new chief financial officer. Lee will be responsible for the...

Jan 16, 2019
Finance
Kimchi exports continue to rise

Exports of kimchi have been rising steadily in recent years, reaching $97.5 million last year, up 20 percent from the previous year, data from the Ministry of Agriculture, Food and Rural Affairs show...

Jan 16, 2019
Industry
Hyundai Motor’s Kona EV debuts on Singaporean carpooling market

Hyundai Motor said Wednesday that its Kona EV has debuted on the ride-hailing market in Singapore via carpooling service Grab. It is the first time an electric vehicle has been chosen for a carpooli...

Jan 16, 2019
Industry
Health supplement market surpasses W4.3tr on e-commerce boom

The health supplement market grew 20 percent over the past three years to reach 4.3 trillion won ($3.8 million) in 2018 as compared with 3.5 trillion won in 2016, the Korea Health Supplements Associa...

Jan 16, 2019
Industry
Seoul to spend 537 b won for traditional markets

South Korea plans to spend 537 billion won ($478 million) to help nurture the country's traditional markets, the government said Wednesday. According to the Ministry for SMEs and Startups, around ha...

Jan 16, 2019
Economy
Samsung to launch Galaxy A8s in Korea this month

Samsung Electronics Co. plans to launch its first smartphone with a camera hole in the display itself in South Korea later this month, industry sources said Wednesday. The world's largest phone make...

Jan 16, 2019
Technology
Regulator vows more support for fintech firms

The head of the financial regulator on Wednesday vowed to lend more support to financial technology firms, with the aim of turning small fintech firms into "unicorns" ith higher market capitalization...

Jan 16, 2019
Finance
Growth of outstanding state bonds slows in 2018

South Korea saw growth in the value of outstanding state and special bonds slow down in 2018 due to increased tax revenue and public agencies' asset restructuring efforts, data showed Wednesday. The...

Jan 16, 2019
Finance
Korea jobless rate exceeds that of US in Q3

South Korea posted a higher unemployment rate than the United States in the third quarter of last year for the first time in 17 years amid a sluggish job market here, data showed Wednesday. South Ko...

Jan 16, 2019
Economy
Samsung’s Lee, SK’s Chey ‘spar’ over semiconductors in front of Moon

Owners of the world’s two largest memory chipmakers -- Samsung’s Lee Jae-yong and SK Group’s Chey Tae-won -- boasted of their business confidence during a walk with President Moon Jae-in at Cheong Wa...

Jan 15, 2019
Economy
[News Focus] Consumer confidence in Korea lowest among OECD members

SEJONG -- The atmosphere on the streets at year-end was not the same in 2018 as what people remembered from past years. To explain it, they pointed to the large number of struggling small business ow...

Jan 15, 2019
Economy
[Graphic News] Global OLED TV market grows twofold every year since 2015

The global market for organic light-emitting diode TVs has surged twofold every year since 2015. IHS Markit said sales of OLED sets are estimated to have reached some 2.6 million units in 2018, up...

Jan 15, 2019
Business
Korea’s mortgage-backed lending rate hits three-year high, raising household debt burden

South Korea’s mortgage-backed lending rates have hit a three-year high, affected by the central bank’s latest key interest rate hike. As local banks mark up their loans accordingly, the country’s hou...

Jan 15, 2019
Finance
SKT introduces new messaging service in challenge to Kakao Talk

South Korean mobile carrier SK Telecom on Tuesday unveiled a new text-message service designed to more efficiently deliver videos and pictures -- a move that industry watchers said signaled an inten...

Jan 15, 2019
Technology

The Korea Herald by Herald Corporation

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Publisher. Editor : Kwon Chung-won
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