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Insurers’ net income jumps 25.7% this year

South Korean insurance companies saw their net income jump 25.7 percent in the first nine months of the year from a year earlier on the back of increased invest­ment-related earnings, the financial watchdog said Friday.The combined net income of local life and nonlife insurers reached 5.1...

Updated : 2014.10.31 21:30

Hana Bank chief resigns prior to KEB merger

Hana Bank president Kim Jong-jun said on Thursday that he would resign next month as the bank’s merger with the Korea Exchange Bank is imminent. Kim had vowed to step down when Hana’s plan to merge with KEB was finalized, adding that he would fulfill his commitments as the bank president...

Updated : 2014.10.31 21:26

[Herald Interview] Peers call for Korea Exchange privatization

Korea’s state-run Korea Exchange would perform better if it were privatized once again and went public, according to the chief of the Japanese stock operator.“I think for the sake of South Korea’s ...

Updated : 2014.10.30 21:27

Mortgage lending growth accelerates in October

Mortgage loans extended by South Korean banks grew at a faster pace in October from the previous month, industry data showed Thursday, stoking concerns that the country’s household debts could be further exacerbated down the road on the back of low borrowing costs and eased property marke...

Updated : 2014.10.30 21:23

S. Korea's financial system stable but faces potential risks: BOK

South Korea's financial system is mostly stable but faces potential risks stemming from the U.S. and the Chinese economies as well as household debt and weakening corporate profit at home, a central bank report said Thursday.The U.S. Federal Reserve's rate hike and China's weakening growth...

Updated : 2014.10.30 15:20

Card spending growth highest in almost 2 years

South Korea’s credit card spending grew in the third quarter at the sharpest pace in almost two years, data showed Wednesday, pointing to a recovery in domestic demand from the deep trough that followed April’s deadly ferry disaster.Purchases made with credit cards reached 147.17 trillio...

Updated : 2014.10.29 21:12

New KB Financial chief to hold dual posts of chairman, bank president

The new head of KB Financial, South Korea's second-largest banking group, said Wednesday that he will hold the dual posts of chairman and bank president for the time being so as to strive for stability in the conglomerate that has been rocked by internal conflict.   In a meeting with rep...

Updated : 2014.10.29 20:18

Hyundai Capital leads in customer satisfaction

Hyundai Capital Services, the nation’s largest finance house, has placed top priority on improving customer services in a move that is setting it apart from others in overseas financial markets, the ...

Updated : 2014.10.28 21:10

Bullish equity markets do not mean recovery: WFE chair

The rather bullish global equity markets today do not signify a recovery from the protracted economic slump but are instead driven by worldwide monetary policies that have increased liquidity, the chairman of the World Federation of Exchanges said Tuesday. “We continue to see bull markets...

Updated : 2014.10.28 21:05

Seoul shares edge down ahead of U.S. meeting

South Korean stocks closed slightly down Tuesday as investors took a wait-and-see stance before the U.S. Federal Reserve's scheduled monetary policy meeting, analysts said. The local currency gained ground against the U.S. greenback.The benchmark Korea Composite Stock Price Index (KOSPI) s...

Updated : 2014.10.28 15:57

KRX to host world exchanges’ forum this week

Stock exchange operators from around the world are to gather in Seoul this week to discuss the future of the capital market and new business opportunities, according to the local bourse operator Korea Exchange. The World Federation of Exchanges will hold its general assembly and annual mee...

Updated : 2014.10.27 20:30

Derivatives trading volume plunges on bearish stock market

The trading volume of financial derivatives on the local bourse fell in September as demand for such instruments declined amid a bearish run on the local stock market, data showed Monday.The daily average trading volume of the derivatives, including futures and options, reached 20.44 trill...

Updated : 2014.10.27 20:29

Regulator to sell minor stake in Woori Bank

The South Korean top financial regulator said Monday that it will dispose of a minor stake in Woori Bank held by the government as part of a process to privatize the local major lender. The Public Fund Oversight Committee under the Financial Services Commission will sell an estimated 18 pe...

Updated : 2014.10.27 20:29

Korean investors flocking to Hong Kong-listed stocks

South Korean investors have increased their exposure to stocks traded on the Hong Kong stock market this year ahead of a scheduled stock trading link between Hong Kong and mainland China, data showed Monday.According to the Korea Securities Depositary Corp., local investors bought a net $1...

Updated : 2014.10.27 20:28

Hyundai-Kia’s world market share hits 9% in Q3

South Korea’s carmakers Hyundai Motor and Kia Motors held onto their shares of the world automotive market in the third quarter of this year despite the strengthening local currency and a global economic slowdown, industry data showed Sunday.According to the data, Hyundai and Kia, the fla...

Updated : 2014.10.26 21:14