South Korea’s sovereign bond market is likely to be included among the top grade of global market indices, as abating inflation revives investors’ appetite for government bonds, according to economists from Standard Chartered Group on Friday. At the 2024 Global Research Briefing conference hosted by the Korean unit in Seoul, Arup Ghosh, Standard Chartered Bank's co-head of Asia rates research, predicted that Korean treasury bonds will take a positive turn this year due to the tr

Market Jan. 22, 2024

KB Kookmin Bank said Wednesday it will provide 372.1 billion won ($276.4 million) in financial support measures for the self-employed, small business owners and vulnerable groups facing difficulties due to high borrowing costs and prices. The sum represents the largest among such other plans put forward by its local peers responding to the government’s call to share profits yielded from high rates with those still struggling to recover from the fallout of COVID-19. KB’s dual-track

Market Jan. 17, 2024

The chief of DGB Financial Group, the holding firm of leading regional lender Daegu Bank, decided to step down from his post Friday after being acquitted of bribery and embezzlement charges tied to the group’s overseas expansion plan this week. After about five years at the helm of the company, DGB Financial Group Chairman Kim Tae-oh, expressed his intent to not to seek a third term. His current two-year term ends in March. “The group needs new leadership capable of achieving sustain

Market Jan. 12, 2024

Debt-ridden Taeyoung Engineering & Construction made a U-turn to stick with its initial self-rescue package to avoid court receivership, which could put over a thousand of its subcontractors at risk. The 16th-largest construction company in South Korea in terms of capacity is expected to unveil additional plans, which could include offering the ownership family's stake in Taeyoung Group's holding firm, to win creditors' approval by Thursday for the launch of a debt workout p

Industry Jan. 8, 2024

South Korea has set its economic priorities for the year, aiming to boost domestic consumption by supporting the real estate market and to encourage investment to ensure a steady economic recovery. In its economic policy directions for 2024 announced Thursday, the government expected that Asia’s fourth-largest economy will see slightly improved growth of 2.2 percent this year, compared with 1.4 percent in 2023, buoyed by an export bounce-back as demand for semiconductors rises. It lowe

Economy Jan. 4, 2024

British activist investor Palliser Capital founder said Samsung C&T’s five-year treasury stock retirement plan won’t be helpful to shore up its stock price, urging swift action to resolve investors’ concerns over its governance structure. “Cancellation of treasury shares has been mischaracterized as a shareholder return by the company,” Palliser Capital founder and Chief Investment Officer James Smith told The Korea Herald in an email interview. “Managemen

Market Dec. 28, 2023

The attempt by homegrown private equity firm MBK Partners to acquire a stake in Hankook & Co. -- the holding company behind South Korean tire giant Hankook Tire & Technology -- has failed, but it has served as a wake-up call for Korean conglomerates with poor corporate governance. MBK’s move in the last few weeks for a hostile takeover of Korea's No. 1 tire company and its demand for the improvement of Hankook’s governance structure raised some eyebrows, especially at

Industry Dec. 26, 2023

Empowering women in economic activities is needed to help South Korea increase its national income and birth rate while making workplaces more equitable for women will result in higher growth and financial stability for businesses, the International Monetary Fund chief said during a forum held in Seoul on Thursday. “Korea has recently made significant progress in increasing women’s economic participation, but it still has among the highest gender gaps for rich countries,” IMF

Economy Dec. 15, 2023

The government said Monday it would establish a commission to coordinate and oversee the country’s policies on critical industrial supply chains by June next year. Together with the Ministry of Foreign Affairs, the Korea Customs Service and the Public Procurement Service, authorities will work to identify risks to supply chains that are highly dependent on specific countries. Each related ministry will operate a supply chain early warning system for materials essential to economic activi

Industry Dec. 11, 2023

Mirae Asset Securities, Korea’s largest investment bank and securities firm, said Wednesday that it has appointed Vice Chairman Heo Sun-ho as CEO. He will lead the company’s sprawling business together with Vice Chairman Kim Mi-seob, whose appointment was confirmed earlier in October. With Heo’s appointment, which was approved at a board of directors meeting earlier on the day, the company has completed a generational shift in its long-held dual leadership system. Heo will co

Market Dec. 6, 2023

JAKARTA, Indonesia -- The combination of Korea’s top battery manufacturing technology and Indonesia’s abundant minerals makes them ideal partners in the burgeoning electric vehicle market. “If Indonesia, the world's largest nickel producer, cooperates with the Korean battery industry, the synergy they could create would be tremendous,” Korea Battery Industry Association Executive Vice President Park Tae-sung said during a collaborative session on EVs and e-waste ma

Industry Dec. 3, 2023

JAKARTA, Indonesia -- The partnership between South Korea and Indonesia has grown stronger over the decades through collaborative endeavors, common interests and trust, according to speakers at the Korea-Indonesia Economic Cooperation Forum. Korea, a global powerhouse in science and technology, and Indonesia, one of the fastest-growing economies with large mineral reserves, mark half a century of diplomatic relations this year. Key figures at the forum said the two nations' distinctive comp

Industry Dec. 3, 2023

JAKARTA, Indonesia -- People-to-people diplomacy between South Korea and Indonesia is playing a pivotal role in enhancing bilateral relations and will continue to do so in the coming years, according to experts. Deepening the relationship between the two nations further is no longer a matter of choice, South Korean Ambassador to Indonesia Lee Sang-deok said during a seminar commemorating the 50th anniversary of Korea-Indonesia diplomatic ties, held at the Hotel Mulia Senayan in Jakarta on Thursd

Foreign Affairs Dec. 3, 2023

KB Financial Group has solidified its status as a leading banking conglomerate by diversifying its revenue streams and strengthening its business portfolio beyond traditional lending activities. For two consecutive years, the group achieved net profits exceeding 4 trillion won ($3.1 billion) since 2021. It regained its title as the country's leading financial group in 2017, when its net profit surpassed 3 trillion won for the first time in its history. Its stellar performance stemmed from

Market Nov. 30, 2023

Concerns are looming large over the loss of principles in equity-linked securities products underlying Hong Kong’s slumping benchmark index with over 8 trillion won ($6.1 billion) in ELS products sold by Korean banks set to mature in the first half of next year. The size of ELS products tracking the Hang Seng China Enterprises Index maturing next year and sold by Korea’s five major banks exceeds 13 trillion won. Of them, some 8.4 trillion won worth of ELS products are facing matu

Market Nov. 27, 2023