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Trade Ministry launches English SNS channels

The Ministry of Trade, Industry and Energy kicked off the English version of its social media service on Monday in a move reflecting its pledges to actively promote the government’s trade and economi...

Updated : 2014.09.21 19:29

Shares expected to trade flat

The South Korean stock market is likely to trade flat this week despite abated woes from Scotland and the U.S. Federal Reserve, due to lack of growth momentum compounded by Hyundai Motor’s plunge on the main bourse, analysts said.The benchmark Korea Composite Stock Price Index climbed 0.5...

Updated : 2014.09.21 19:23

Listed firms’ asset sales near W2tr this year

Listed companies in South Korea have seen their sales of land, buildings and other tangible assets reach nearly 2 trillion won ($1.9 billion) so far this year, data showed Sunday, as they are keen to clean up their balance sheets.According to the data from the financial watchdog, companies...

Updated : 2014.09.21 19:23

Public firms’ debt to hit W524tr next year

The combined debt of Korean public firms and institutions is expected to hit 524 trillion won ($502 billion) next year, the finance ministry said Sunday, amid government efforts to reduce their liabilities.The forecast is 3 trillion won smaller than an earlier government estimate this year...

Updated : 2014.09.21 19:22

IBK to halt service next month on system change

The state-run Industrial Bank of Korea will halt its financial service for three days from Oct. 3 to replace its main computing system.Debit cards, automated teller machines and online banking services will be out of service during the period, while credit cards will remain in operation, a...

Updated : 2014.09.21 19:22

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

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

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

‘Korea can become successful yuan hub’

South Korea can become one of the world’s most successful hubs for the Chinese yuan, given its geographical proximity to China and the importance of their economic relations, said Martin Tricaud, pre...

Updated : 2014.09.18 21:28

KB Financial board dismisses chairman

The board of KB Financial Group is expected to meet again Friday to discuss follow-up measures after dismissing the group’s chairman who is accused of a series of management lapses but refuses to step down. After hours of talks Wednesday that ended close to midnight, the board said it dec...

Updated : 2014.09.18 21:25

[Herald Interview] ‘Pension service should take more risks’

The National Pension Service, South Korea’s pension fund manager, should stop playing safe by investing in low-yielding bonds, a notable Korean economist said.Instead, it should be a little more aggr...

Updated : 2014.09.18 21:21

KB Financial board dismisses chairman

The board of KB Financial Group Inc. decided Wednesday to sack the group's chairman accused of a series of management lapses, clashing head-on with the chief who said he has no intention to step down. The board's move came after KB Financial chairman Lim Young-rok refused to accept its re...

Updated : 2014.09.18 08:51

[Newsmaker] Defiant KB chief creates stir

KB Financial Group chairman Lim Young-rok has become known for two things: being the first financial group chairman to be slapped with a severe penalty and the first to defy the authorities’ sanction...

Updated : 2014.09.17 21:08

Korea to become global renminbi hub: HSBC Korea chief

The head of HSBC's Korean unit on Wednesday highlighted the country's prospect as a renminbi hub as the British banking giant focuses on its corporate finance business after shutting down its retail units here."We believe that given its geographical proximity to China and the importance of...

Updated : 2014.09.17 15:40

Prosecution raids KB over IT misconduct

Prosecutors on Tuesday raided KB Kookmin Bank’s computer center in Seoul over alleged irregularities in the bank’s introduction of a new computing system, according to KB officials Tuesday.Investiga...

Updated : 2014.09.16 21:37