South Korea is to introduce a separate visa track for foreign nationals who aspire to become K-pop stars in a move to attract more tourists from overseas, the Finance Ministry announced Monday. The ministry released a set of measures to help bring more foreign visitors to the country such as streamlining the entry process and offering incentives for using public transportation during a meeting of economic affairs ministers. The measures were based on the concern that the country’s tourism

Economy June 17, 2024

Korea's crypto data aggregator BlockSquare Seoul said Thursday that it plans to update its market analysis features in July to offer more detailed investment information for its users. Currently, the company provides market intelligence service under the name Retri, suggesting the best time to buy and sell cryptocurrencies by reading their price movements and transaction flows. Following the July update, the Retri service will offer more sophisticated real-time data updates on price project

Industry June 13, 2024

Hana Financial Group has launched a team of honorary ambassadors composed of college students to promote the financial conglomerate, the firm announced Thursday. The 50 student representatives belong to the 18th team of the Smart Ambassador program. A total of 963 college students have participated in the program since it was launched in 2012. This year, one in 13 applicants was selected for the program. The team will promote the banking group's brand for three months until the end of Augus

Industry June 6, 2024

The Korea Listed Companies Association said Monday it has launched guidelines for listed firms to offer their corporate information in English and increase accessibility for foreign investors. The guidelines offer a standardized form for articles of incorporation, including key details about a company, the general purpose of the corporation, the type and number of shares, the board election process and more. The association has shared the standard form for articles of incorporation since 1980 bu

Market June 5, 2024

Stock prices of oil- and gas-related companies went on a roller coaster ride Tuesday, amid investors’ interest in the discovery of possible oil reserves off the East Coast following President Yoon Suk Yeol’s announcement the previous day. With the government approving exploratory drilling for a potential 14 billion barrels of crude oil and natural gas reserve at Yeongil Bay in Pohang, North Gyeongsang Province, investors flocked to energy-related shares listed on the Korean bourse.

Market June 4, 2024

Asia's largest private equity firm MBK Partners is to push for the sale of Homeplus Express, a supermarket unit of Homeplus, according to industry officials Monday. The firm has kicked off the process by selecting Morgan Stanley as the sales manager for the deal. The details of the sales plan have not been released yet. Though the market had projected that the equity house would be eyeing an exit on Homeplus soon, the sales plan has been limited to its unit Homeplus Express for the time bei

Industry June 3, 2024

While the US Securities and Exchange Commission made another move to embrace cryptocurrency by approving exchange-traded funds tied to the price of ether, the most famous crypto after bitcoin, spot cryptocurrency ETFs remain out of reach for South Korean investors. On May 23, the US SEC gave the green light for eight spot ether ETFs, potentially paving the way for the funds to begin trading later this year. The decision came four months after its landmark approval on spot bitcoin ETFs. For Korea

Market June 3, 2024

Some liken Rwanda to the “Singapore of Africa” due to its fast-growing economy and strategic focus on fintech. South Korean builders and financial firms are also eyeing their expansion in the burgeoning market, pinning high hopes on the upcoming Korea-Africa summit talks in Seoul. Since establishing official diplomatic ties in 1963, Korea and Rwanda have continued elevating their economic partnership. In 2023, Korea’s exports to Rwanda stood at $17.27 million, mainly consisting

Economy June 2, 2024

KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corporate value through mid- to long-term asset management, asset growth strategies and shareholder return policies, according to the announcement. The boost plan will include monitoring of th

Market May 27, 2024

The chief of Korea Exchange, the country's sole bourse operator, vowed Friday to boost the market valuation of companies listed on the local stock market with a seamless backup of the country’s “corporate value-up” directive. During a press conference commemorating his first 100 days in office, Korea Exchange CEO Jeong Eun-bo said the country's stock market is in dire need of tackling its perennial discount to turn it into a premium. “The Korea discount exists.

Market May 26, 2024

The Bank of Korea held the base policy rate at 3.5 percent for the 11th consecutive time Thursday, while raising the country’s economic growth estimate from the previous 2.1 percent to 2.5 percent. The central bank’s monetary policy board unanimously agreed to keep the key rate at the current level, BOK Gov. Rhee Chang-yong said at a press conference held shortly after the rate-setting decision. “With the strengthened upward pressure on the inflation outlook from April, it will

Economy May 23, 2024

Akihiko Nishio, the World Bank’s vice president for development finance, said Korea becoming the host country for the International Development Association's 21st replenishment meeting could uplift the spirit of contribution to the global solidarity fund. The International Development Association, a development finance institution under the multilateral lender World Bank Group, seeks to help the world’s poorest countries improve by providing loans and grants. On Monday, the Wo

Economy May 21, 2024

Woori Bank, one of the leading South Korean lenders, has joined hands with the National Bank of Cambodia to develop a cross-border quick response code payment system, the bank announced Friday. An agreement ceremony for the partnership was held Thursday on the sidelines of the Korea-Cambodia business forum, on the occasion of a summit between President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet in Seoul. Business and political figures from Korea and Cambodia, including Woori Bank CEO C

Industry May 19, 2024

[코리아헤럴드=임은별 기자] 미국의 대체거래소 블루오션테크놀로지스(Blue Ocean Technologies)는 지난 2021년부터 현지에서 유일하게 야간거래(overnight trading)를 지원하고 있는데 거래량의 40%를 한국 투자자들이 차지하고 있다. 브라이언 힌드먼 대표는 최근 코리아헤럴드와의 인터뷰에서 “아시아 투자자들은 월요일 아침에 주말 사이에 있었던 일들을 반영해 주식을 거래하기 때문에 대부분의 미국 투자자가 잠들어 있는 시간을 이용해 상대적으로 빠르게 주식거래를 할 수 있다”며 “블루오션은 미국 동부시간으로 일요일 밤이 대목”이라고 설명했다. 블루오션은 서비스 초기 삼성증권과 1년 동안 독점계약을 맺어 한국 투자자들을 공략했고 현재 모든 국내 증권거래사와 계약을 체결해 서비스를 제공하고 있다. 나스닥 출신인 힌드먼 대표는 “이제는 시대가 변했다”며 “투자자들은 보유 주식의 리스크를 실시간으

한국어판 May 16, 2024

For Blue Ocean ATS, a broker platform that facilitates overnight trading for the US stock market, Sunday night is the peak trading hour as South Korean investors flock to execute orders before the US day trading begins. “Sunday night is our biggest night when it is Monday morning for the Asian investors and Korean investors. They start trading at 8 p.m. when traditional exchanges here in the US do not open until 9:30 a.m. on Monday,” Brian Hyndman, president and CEO at Blue Ocean Tec

Market May 16, 2024