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S. Korean banks' overseas earnings jump 32.1 pct in H1

South Korean banks saw their combined net profit from overseas operations jump 32.1 percent in the first six months of the year from a year earlier due mainly to a drop in bad debt expenses and a rise in interest income, the financial watchdog said Sunday.Earnings by 156 overseas units and...

Updated : 2014.11.23 15:42

KB Financial chief set on LIG takeover

KB Financial’s new chief Yoon Jong-kyoo wasted no time in voicing his determination to take over LIG Insurance. “(The takeover of LIG Insurance) is an indispensable part of our plans for creating sy...

Updated : 2014.11.21 21:31

Seoul shares buoyed by U.S. data, institutional buying

South Korean stocks rebounded Friday after backtracking for two sessions, buoyed by encouraging economic data from the United States and net buying by foreign investors and institutions. The local currency rose against the U.S. dollar. Starting the day in positive territory, the benchmark ...

Updated : 2014.11.21 21:29

Audi Korea issues voluntary recall campaign

Audi Korea has issued a voluntary recall campaign for more than 9,000 of its 2013-2015 model A4 and S4 vehicles for faulty frontal airbags, the carmaker said Friday.The recall models are the A4 2.0 TDI (8,055 units), A4 2.0 TFSI (977 units) and S4 3.0 TFSI (59 units) that were manufactured...

Updated : 2014.11.21 21:28

Korean won rebounds from 15-month trough

South Korea’s currency rebounded from a 15-month low on Friday, snapping a three-day losing streak as it paralleled the Japanese yen’s ascent to the greenback.The Korean won closed at 1,113.80 per U.S. dollar, up 1.3 won from the previous session’s close, after rising as high as to 1,10...

Updated : 2014.11.21 21:28

OB welcomes Brazilian beer expert as new CEO

Frederico Freire, the new CEO of Oriental Brewery. (OB)South Korea’s top beer company, Oriental Brewery, said Thursday that it had appointed Frederico Freire, vice president of Anheuser-Busch InBev A...

Updated : 2014.11.20 21:21

Banks pay nearly W3tr in dividends to foreign investors

South Korean banks’ dividend payouts to foreign shareholders have reached nearly 3 trillion won ($2.7 billion) in the past four years, accounting for 10 percent of their net income, industry data showed Thursday.A total of 4.5 trillion won was paid out as dividend to their stakeholders by...

Updated : 2014.11.20 21:21

Financial tech market hindered by regulations

As shown by Apple Pay, Ali Pay and Bank Wallet Kakao, the mobile payment market is one of the very few sectors that is continuing to achieve a fast and steady growth ― a phenomenon that has led to the coining of the term “fintech,” a combination of “finance” and “technology.” Howeve...

Updated : 2014.11.20 21:15

MSCI adds Samsung SDS to emerging market index

Global index provider MSCI has added Samsung SDS Co., a key IT unit of Samsung Group, and three other Korean stocks to its emerging market index in its latest quarterly review, which will take effect later this month, according to its website Wednesday.The U.S.-based provider of investment...

Updated : 2014.11.19 21:11

Finance minister sees recovery in housing market

South Korea's property market is recovering from a long slump with home transactions picking up recently, the finance minister said Wednesday, rebuffing media reports that the market conditions remain harsh for many people."Thanks to the government's policy support, the volume of home tran...

Updated : 2014.11.19 10:00

Korea Finance CEO tapped to head FSS

Financial Supervisory Service Gov. Choi Soo-hyun offered to step down Tuesday under pressure that had been mounting since the beginning of the year in the wake of a string of scandals in the local fin...

Updated : 2014.11.18 21:47

Seoul shares rebound to end 3-day fall

South Korean stocks rebounded on Tuesday, helped by massive buying by foreign investors and institutions. The local currency fell against the U.S. dollar. Starting the day positively, the benchmark Korea Composite Stock Price Index (KOSPI) ended at 1,967.01, up a meaningful 1.20 percent, ...

Updated : 2014.11.18 21:23

State policy financing agency chief named new financial watchdog head

The state policy financing agency chief on Tuesday was named the new head of the financial watchdog, who apparently resigned after a series of recent financial scandals, officials said.The Financial Services Commission (FSC), the top financial regulatory body, picked Zhin Woong-seop, presi...

Updated : 2014.11.18 10:49

Financial watchdog head offers resignation

The head of the South Korean financial watchdog has offered his resignation, its officials said Tuesday, in an apparent move to take responsibility for recent financial scandals.Financial Supervisory ...

Updated : 2014.11.18 09:45

[Newsmaker] Shanghai-H.K. link leaves KOSPI intact

The Shanghai-Hong Kong stock connect scheme ― touted as a milestone in the liberalization of China’s capital markets ― launched Monday, with very little impact on the Korean bourse. Korea’s stock ...

Updated : 2014.11.17 21:36