NEW DELHI -- Kintex, the operator of the convention center of the same name in Korea, hopes to function as a platform for Korean companies aspiring to forage into the burgeoning Indian market. Kintex, short for the Korea International Exhibition Center, operates a convention center under the same name in Goyang, Gyeonggi Province. It is the largest convention facility in Korea with a 108,483 square meters of space for exhibitions. In 2018, the operator received a permit to operate India’s

Industry Nov. 26, 2024

GURUGRAM, India -- Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Media Group, expressed his hopes to establish India’s first Koreatown, the hub of Korean culture and commerce, in a meeting with high-profile Indian government officials. On Thursday, Jung met with Nayab Singh Saini, the chief minister of Haryana, to discuss the bilateral partnership between Korea and India. Haryana, a state in north-central India, surrounds Delhi on three sides

Industry Nov. 26, 2024

NEW DELHI, India -- Korea’s leading asset manager Mirae Asset Global Investments has been rapidly expanding its presence in the Indian market, riding on the country’s strong “appetite for Korean businesses.” Recognizing the country’s growth potential, the company was the first of its peers to enter the Indian market, setting up an office in Mumbai in 2006. “When Mirae Asset came to India, it was a 100 percent foreign-owned equity,” Shrinivas Khanolkar, h

Industry Nov. 26, 2024

NEW DELHI -- The India-Korea Business Partnership Forum 2024 held at the Yashobhoomi convention center in New Delhi on Friday highlighted India’s potential to grow as more than a manufacturing hub. South Korean tech behemoth Samsung Electronics believes Indian talent will drive innovation to take the country a step further on the global stage. “Samsung was one of the first companies to realize India's potential as a manufacturing powerhouse. Each state represents a diverse mic

Industry Nov. 26, 2024

Shares of Samsung Electronics continued to gain Monday, following the company’s announcement of a share buyback plan worth 10 trillion won ($7.17 billion) on Friday, partly recovering from a steep decline the previous week. Samsung Electronics shares closed trading at 56,700 won Monday, up 3,200 won or 5.98 percent from the previous trading day, according to the Korea Exchange. During intraday trading, the price surged to as high as 57,500 won. The rebound comes after the shares sank to an

Market Nov. 18, 2024

Shares of local banks are putting up a fight in the bearish Korean stock market, as investors are pricing in expectations that lenders could excel in the second Donald Trump administration under softened regulation and higher interest rates. The KRX Banks index, representing shares of top financial service providers such as KB, Shinhan, Woori and Hana, closed at 913.69 on Nov. 7, up 2.33 percent on-day, after Trump secured his victory in the US presidential election. It was the highest-gaining i

Economy Nov. 17, 2024

Hana Financial Group's chief pitched the banking group's strategies to elevate its corporate value to overseas investors at an investor relations event in Hong Kong. Along with the chiefs of other top financial service providers in the country, Hana Financial Chairman Ham Young-joo attended the “Invest K-Finance” event, hosted by South Korea's Financial Supervisory Service. At the event, Ham introduced the group’s plan to boost corporate and shareholder value, ac

Industry Nov. 17, 2024

Viva Republica, the operator of mobile financial service Toss, posted record-high revenue in the July-September period, gaining traction for a potential US listing. According to the company on Thursday, its third-quarter revenue soared 47.5 percent to 502.1 billion won ($356 million) from a year ago, largely buoyed by its diverse business portfolio ranging from internet banking to digital brokerage. With the latest figure, the company's cumulative revenue this year stood at 1.41 trillion wo

Industry Nov. 14, 2024

Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, hosted the Upbit D Conference on Thursday, discussing how blockchain technology can bring changes into the real world. This year’s event, in its seventh edition, was held under the title of "Blockchain: Powering Real World Change." “Blockchain is no longer an invisible technology. Just a few years ago, blockchain was considered unfamiliar and complex, but now we can see that perceptions in Kor

Industry Nov. 14, 2024

Korea Zinc Chairman Choi Yun-beom on Wednesday apologized to the public, canceling the company’s hastily-made capital increase plan that sent its shares on a roller-coaster ride in recent weeks. “Though the capital raise was planned to strengthen a more diverse and independent shareholder base consisting of general investors, I offer my sincere apology as the plan, drawn up in urgent and desperate circumstances, was inconsiderate of existing shareholders,” Choi said at a press

Industry Nov. 13, 2024

By Steve Brice My youngest son is starting out on his investment journey. As background, he has been gifted some money, which he wants to invest for at least 7-10 years. He is not interested in finance, although he is interested in making money. He is about to go to university in February and expects to be busy. Therefore, he wants to have an investment plan which he does not have to monitor excessively. He is obviously worried about investing at exactly the wrong time, as is common with most

Industry Nov. 13, 2024

Shares of South Korean tech behemoth Samsung Electronics sank to an over four-year low of under 51,000 won ($36.24) Wednesday, reflecting the clouds cast over the company's chip leadership in the AI era. Samsung Electronics shares on the Kospi closed trading at 50,600 won on Wednesday, dropping by 2,400 won or 4.53 percent from the previous trading day. Shares of the company started the day at 52,000 won but dropped to as low as 50,500 won, hitting the lowest intraday trading level since Ju

Market Nov. 13, 2024

The Korean won and the local bourse dipped to their weakest levels in months, as Donald Trump’s victory in the US presidential election fueled concerns on the outlook of the export-reliant South Korean economy. The Korean won closed its daytime trading against the US dollar at 1,403.5 won, marking an 8.8 won depreciation from the previous trading day. It was the first time in two years for the won-dollar currency exchange rate to close at over 1,400 won. After the daytime closing, the won

Market Nov. 12, 2024

The price of the world’s biggest cryptocurrency bitcoin has surpassed 120 million won ($85,500) at local exchanges for the first time, on the back of a recent rally sparked by Donald Trump’s return to the White House. As of 5 p.m. Tuesday, bitcoin traded at 127 million won on Upbit, the nation’s largest crypto exchange. The cryptocurrency fluctuated at a similar level on other major local exchanges, including Bithumb. The surge comes shortly after the crypto hit the 110 million

Market Nov. 12, 2024

A screen shows bitcoin trading at over $80,000 at local crypto exchange Upbit's headquarters in southern Seoul, Monday morning. The price of bitcoin hit an all-time high, marking a nearly 17 percent rise over the past week. Bitcoin traded as high as $81,784 on Upbit, as of press time. The recent surge was largely driven by US President-elect Donald Trump's victory, after he stressed his will to ease crypto-related regulations. (Lim Se-jun/The Korea Herald).

Market Nov. 11, 2024