The Korea Times

Citi Korea marks 'Global Community Day' with corporate clients

Citi Korea held a volunteer activity with employees from key corporate clients at its headquarters in Seoul, Thursday, in celebration of "Global Community Day," the company said Friday. Through the creation of an upcycled collaborative artwork and art supply kits, the activity demonstrated a sustainable community engagement model that contributes to environmental protection and local community development. The event was made even more meaningful with the participation of employees from 14 major global companies that have grown alongside Citi over many years. These companies, which operate across diverse markets around the world, joined Citi Korea not only as financial partners but also as collaborators committed to fulfilling their social responsibilities and creating positive impact in the communities where they operate. Participants created a collaborative artwork on paper canvases made from discarded cardboard collected by older adults and assembled art supply kits. In particular, the activity carried special significance as it established a “resource circulation” model that suppo

Jun 5, 2026By Lee Hyo-sik

Citi Korea marks 'Global Community Day' with corporate clients

Companies

Shinhan Securities hosts George Washington University Korean studies delegation

Shinhan Securities hosted a student delegation from George Washington University's Institute for Korean Studies, as part of an overseas study program aimed at deepening understanding of Korea’s capital markets and financial industry, the company said Sunday. The delegation visited Shinhan Securities’ headquarters in Seoul's financial district of Yeouido, Friday, during the university’s summer study abroad program, organized under the theme “Korea in the 21st Century: Past, Present, and Future in the Age of Globalization.” The program, running through May 30, includes 12 participants, including students majoring in Korean studies and faculty members interested in Korean society and economy. During the visit, participants attended lectures and briefings on the structure and characteristics of Korea’s capital markets, trends in digital financial innovation and the outlook for future growth industries including K-content, semiconductors and artificial intelligence. The delegation also met with Shinhan Securities employees for a question-and-answer session on the country’s finan

May 25, 2026By Lee Hyo-sik

Shinhan Securities hosts George Washington University Korean studies delegation

Opinion

‘K-shaped’ rally leaves many investors behind

The ongoing stock market rally is supposed to be a source of excitement for investors. But for an office worker in his 50s surnamed Kim, the recent surge in stocks has brought more frustration than joy. The reason is very simple. He does not own shares in Samsung Electronics, SK hynix or other large-cap leaders that have powered the market in recent months. Instead, his portfolio is filled with small-cap stocks that have failed to participate in the bull market run. A bigger problem is that he is still clinging on to his holdings, hoping that someday, their prices will rise. But unfortunately, we all know such rebound never comes. “I could buy the leading stocks even now because I have cash,” Kim said. “But I’m afraid I would be buying at the top. I’d rather wait for a correction, even though I know the rally may not end soon.” He is one of hundreds of thousands of individual investors who have been sidelined by a “K-shaped” rally, in which a small group of dominant companies surge while the majority of stocks lag behind. The benchmark KOSPI index has been on a record-bre

Apr 29, 2026By Lee Hyo-sik

‘K-shaped’ rally leaves many investors behind

Companies

Procurement agency supports resource recovery firms

The Public Procurement Service (PPS) is supporting nationwide efforts to develop resource recovery technologies to help secure a stable supply of raw materials, the state-run procurement agency said Friday. PPS Administrator Baek Seung-bo visited City Oil Field in Jeongeup, North Jeolla Province, Thursday, a company that specializes in producing petrochemical feedstock by decomposing waste plastics, to explore ways to expand sales channels and secure stable raw materials through public procurement. The visit was aimed at strengthening domestic alternative supply chains through waste resource recycling and supporting stable market access for innovative enterprises, especially as geopolitical instability in the Middle East increases the price volatility of imported raw materials. City Oil Field’s plant uses low-temperature pyrolysis to regenerate naphtha and refined oil from waste plastics. By reducing import dependency, the facility enhances production stability and eases the cost burdens for businesses amid global supply disruptions. PPS plans to provide active support to ensure that t

Apr 24, 2026By Lee Hyo-sik

Procurement agency supports resource recovery firms

Banking & Finance

Mirae Asset Securities wins Hong Kong license to offer retail digital asset trading

Mirae Asset Securities' Hong Kong unit has received final approval from the Securities and Futures Commission to offer digital asset trading services to retail investors, the company said Wednesday, becoming the first Korean brokerage to secure such a license in the city state. The company said it will launch a mobile trading system in June to provide individual investors in Hong Kong with access to digital asset trading, alongside traditional investments such as stocks and bonds. The platform will also allow Hong Kong-based clients to invest in Korean equities. The move marks a significant step beyond a simple service expansion as Mirae Asset Securities aims to transform its mobile platform into a one-stop retail investment hub, integrating both traditional and digital assets. Securing regulatory approval in Hong Kong is expected to serve as a springboard for expanding its digital asset business. The company also said it plans to extend its digital asset operations to major global markets, including Singapore and the United States, as part of its broader strategy to strengthen its platf

Apr 16, 2026By Lee Hyo-sik

Mirae Asset Securities wins Hong Kong license to offer retail digital asset trading

Law & Crime

Yakuza member arrested for smuggling 636 kg of marijuana into South Korea

An ethnic Korean member of a Japan-based yakuza syndicate has been arrested and indicted for smuggling into South Korea about 636 kilograms of marijuana — enough for roughly 1.27 million people to smoke at once, law enforcement authorities said Friday. The amount seized is the largest ever among narcotics imported for domestic distribution, officials said. The pan-government joint investigation unit on drug crimes said it detained and indicted the 53-year-old suspect, a member of the yakuza group, on charges of violating the Narcotics Control Act. Authorities have also identified four Vietnamese nationals who allegedly sold the drugs to the suspect, sought arrest warrants for them and plan to request Interpol red notices. The individual is accused of loading the marijuana into a shipping container departing from Thailand in early March and arranging for it to arrive at Incheon Port on March 23. Investigators said he conspired with a drug trafficking organization based in Ho Chi Minh City, Vietnam, intending to distribute part of the marijuana in South Korea through Vietnamese networks a

Apr 10, 2026By Lee Hyo-sik

Yakuza member arrested for smuggling 636 kg of marijuana into South Korea

Opinion

Will Seoul apartment prices fall after president’s social media blitz?

President Lee Jae Myung has turned to social media to denounce people who own multiple homes, calling them the main culprits behind soaring apartment prices and deepening supply shortages in Seoul and nearby areas. On Jan. 23, Lee declared a war on multi-home owners by posting a message on X, formerly Twitter, saying that the government will end the temporary suspension of heavy capital gains tax on them. As a result, people owning more than one house will face up to an 82.5 percent capital gains tax on houses sold after May 9. After multi-home owners, Lee went after those who hold a single house but do not reside in it, threatening to impose heavier property holding taxes. He also targeted registered landlords who rent homes below market rates in exchange for tax benefits, instructing his Cabinet to curb loan extensions for multi-home owners. The series of posts urging homeowners to sell caught many off guard, as Lee, a former governor of Gyeonggi Province, had previously said that tax policy should be used only as a last resort. During last year’s presidential campaign, he pledged

Feb 25, 2026By Lee Hyo-sik

Will Seoul apartment prices fall after president’s social media blitz?

Banking & Finance

Citi Korea provides K-SURE-backed financing for iMarketKorea’s US industrial complex project

Citi Korea has partnered with the Korea Trade Insurance Corporation to support iMarketKorea’s industrial complex development project in the United States, aimed at helping Korean companies establish local production bases and expand their global operations, the lender said Tuesday. Under the deal, Citi Korea acted as the sole coordinator for a $60 million syndicated loan, backed by K-SURE’s overseas project finance insurance program. The financing is expected to help ease initial investment costs and mitigate financial risks for Korean companies preparing to establish manufacturing facilities and business operations in the U.S. iMarketKorea, a B2B company providing maintenance, repair and operations services to corporate clients, plans to accelerate the development of an industrial complex in Taylor, Texas, using the funds. The site is located near clusters of global semiconductor, electric vehicle and other advanced manufacturing companies, and demand is expected to grow from Korean firms seeking to secure production bases in the U.S. A Citi Korea official said it has a long track re

Jan 27, 2026By Lee Hyo-sik

Citi Korea provides K-SURE-backed financing for iMarketKorea’s US industrial complex project

Companies

Woori Bank CEO vows to narrow gap with larger rivals

Woori Bank CEO Jung Jin-wan vowed to narrow the gap with rival banks this year, calling 2026 a critical period to deliver tangible results after laying the groundwork for growth, the lender said Sunday. Jung made the remarks at the bank’s 2026 management strategy meeting at Paradise City in Incheon Friday. The event was attended by about 900 executives, including senior managers, division heads and branch managers. “If 2025 was a year to build the foundation and strengthen our competitiveness, 2026 must be the year we prove ourselves through performance,” Jung said. “If we clearly define our direction and drive real change in the field, we can certainly narrow the gap with competitors and reshape the market landscape.” During the meeting, Jung reviewed the bank’s performance from the previous year and outlined strategic priorities for 2026, urging a shift in sales and customer engagement strategies based on the progress made in restructuring the bank’s operations. He said Woori Bank plans to enhance specialized channels in corporate banking and wealth management, improve pr

Jan 25, 2026By Lee Hyo-sik

Woori Bank CEO vows to narrow gap with larger rivals

Companies

Citibank Korea accelerates AI adoption in daily workflows, enhances employee productivity

Citibank Korea said Friday that it has begun the full deployment of Citi AI, Citi’s newly introduced artificial intelligence platform, across the organization. As part of this initiative, the bank hosted Citi AI Days on Wednesday and Thursday, as employees shared practical examples of how Citi AI can be applied in their day-to-day work. Citi AI is a purpose-built platform designed based on a human-led AI approach, which supports and enhances employees’ professional expertise and decision-making. With safety and responsible use as its core principles, the platform helps employees perform their work in a more efficient and consistent manner. Through Citi AI, Citibank Korea expects to more effectively leverage the data and expertise accumulated across Citi’s global network, while reducing the burden of repetitive tasks such as data analysis and document preparation. This will enable employees to focus on higher-value activities. The bank plans to systematically embed AI across client support, talent development and overall business operations. In addition, the bank is operating the Ci

Jan 16, 2026By Lee Hyo-sik

Lee Hyo-sik

Read more

Citi Korea marks 'Global Community Day' with corporate clients

Shinhan Securities hosts George Washington University Korean studies delegation

‘K-shaped’ rally leaves many investors behind

Procurement agency supports resource recovery firms

Mirae Asset Securities wins Hong Kong license to offer retail digital asset trading

Yakuza member arrested for smuggling 636 kg of marijuana into South Korea

Will Seoul apartment prices fall after president’s social media blitz?

Citi Korea provides K-SURE-backed financing for iMarketKorea’s US industrial complex project

Woori Bank CEO vows to narrow gap with larger rivals

Citibank Korea accelerates AI adoption in daily workflows, enhances employee productivity

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