Hana Securities, the brokerage unit of South Korean finance giant Hana Financial Group, on Thursday announced it has established a new foreign investment team. According to the Hana subsidiary, the move comes in response to the recent abolition of the foreign investors' registration system by the local government. Starting in December, South Korea scrapped a 30-year-old policy that required foreign nationals to register with the local financial regulators to open an account and trade on the

As local card issuers struggle to seek new growth engines on foreign ground, a handful saw improvements in 2023. Making a surprise breakthrough overseas last year was Woori Card, which posted a cumulative net profit of around 6.25 billion won ($4.64 million) as of the third quarter through its foreign subsidiaries in Myanmar and Indonesia. The figure was up by almost 78 percent on-year. Driving the flourish was Woori Finance Indonesia, the Korean card company's newly launched Indonesian cor

OCI Group, a chemical, solar power and electric car battery material maker, looks to merge with drugmaker Hanmi Pharmaceutical Group, as the two entities seek business synergies to create the Korean version of Bayer, the German chemicals-to-pharmaceuticals giant. On Friday, OCI Holdings and Hanmi Science, the holding units of the two entities, made a surprise announcement that they were merging through a stock acquisition and new share issuances. Under the agreement, OCI Holdings is to acquire a

The leaders of Hana Financial Group and Shinhan Financial Group are headed to the CES 2024, the world's largest consumer technology event slated to open in Las Vegas on Tuesday. Hana Financial Group Chairman Ham Young-joo is taking part in the tech event for his second consecutive year. This year, the Hana chief is reportedly taking with him a team of employees in the artificial intelligence sector, in line with the theme of this year's CES, which seeks to highlight the possibilities o

South Korea's top four financial groups -- KB, Shinhan, Hana and Woori -- are expected to post a combined net profit of over 17 trillion won ($13 billion) this year, buoyed by their moneylending business, according to market tracker FnGuide. While the four firms posted an estimated net profit of 16.55 trillion won last year, the projected figure for this year is 17.23 trillion won, marking a 4.1 percent growth on-year. Securities firms predicted KB Financial Group to garner a net profit of

HANOI, Vietnam -- Vietnam sees South Korea as a “good peer” in its plan to achieve developed-country status by 2045, according to Nguyen Anh Tuan, the deputy director general at the Foreign Investment Agency under Vietnam’s Ministry of Planning and Investment. “We plan to grow our economy to be a developing country with the GDP per capita in the group of the high-middle income by the year 2030,” Tuan told a group of Korean reporters at the ministry’s headqua

South Korean stocks started a tad higher Wednesday led by gains in tech and financial shares. The benchmark Korea Composite Stock Price Index gained 5.65 points, or 0.23 percent, to 2,499.93 in the first 15 minutes of trading. Overnight, U.S. stocks finished mixed, with the Dow Jones Industrial Average retreating 0.2 percent and the tech-heavy Nasdaq Composite edging up 0.3 percent. In Seoul, chipmakers lent support to the positive opening, with No. 1 Samsung Electronics rising 0.84 percent and

From left: Hana Financial Group Vice Chairman Lee Eun-hyung, Chairman Ham Young-joo and Community Chest of Korea Chairman Kim Byong-joon pose for a photo after the financial group donated 15 billion won ($11.43 million) to the charity's headquarters in central Seoul, Tuesday. Hana's 15 affiliates all contributed to the donation for the underprivileged. The group also received a donation certificate for donating a total of over 90 billion won this year. (Hana Financial Group)

Hana Financial Group CEO Ham Young-joo (center), Vice Chairman Lee Eun-hyung (second from left) and some 300 officials celebrate the group’s 18th anniversary at its headquarters in central Seoul, Friday. During the event, the Hana employees boasted the new slogan "New Hana" to steer the financial giant’s future. Hana promised to take a big step forward, putting importance on a customer-first strategy and corporate social responsibility. (Hana Financial Group)

By Yoo Chang-jo Professor of marketing at Dongguk University The rapidly evolving landscape of technology-driven finance demands a global perspective and competitive edge. Recognizing the role of financial institutions in this dynamic environment, The Korea Herald's Global Finance Awards, now in its seventh year, continues to honor those at the forefront of innovation and service in the Korean financial sector. This year’s awards were categorized into the Financier of the Year, In

Hana Financial Group has strengthened its unwavering support to keep promising women on the road to success via Hana Waves, an annual in-house program that has nurtured nearly 100 future female leaders since its establishment in 2021. Under the slogan “Women’s Actions, Voice, Emotion,” Hana launched Hana Waves with an aim to boost the group's gender diversity efforts at the senior executive level. The members were recommended by CEOs of Hana affiliates as potential femal

South Korean stocks finished slightly lower Wednesday as investors remained cautious ahead of the central bank's rate-setting meeting this week. The local currency gained ground against the US dollar. The benchmark Korea Composite Stock Price Index declined 1.95 points, or 0.08 percent, to close at 2,519.81. Trading volume was moderate at 571.6 million shares worth 9.27 trillion won ($7.19 billion), with losers beating winners 598 to 272. Institutions sold a net 140.9 billion won worth of l

CHANGZHOU, China, Nov. 28, 2023 /PRNewswire/ -- To cope with the new economic changes in the world and create a new economic development pattern in the Asia Pacific region, the 4th China-Korea-Japan Asset Management Summit Forum was held on November 22 in Zhonglou District, Changzhou, Jiangsu Province. The forum convened under the theme "Industrial Finance Empowerment, Cohesion and Win-win". Representatives of multiple institutions, business leaders, experts and scholars from China, So

Yang Jong-hee, the new chairman of KB Financial Group, South Korea's largest financial giant, commenced his official term on Tuesday, putting renewed emphasis on “giving back to society.” "I deeply feel the weight of responsibility that comes with the role of finance," Yang said during his inaugural ceremony held at the group's headquarters in Seoul earlier in the day. "There is a saying that ‘if we want to go far, we go together.’ Without the gro

Hana Financial Group on Monday announced the establishment of South Korea’s first privately led “venture fund of funds” with an investment of 100 billion won ($77.44 million). The announcement follows the Ministry of SMEs and Startups’ proposal last year to expand funding for venture capital and boost the startup industry together with the private sector. The launch ceremony, which was attended by SMEs and Startups Minister Lee Young and Hana Financial Group Chairman Ham