Economy
Banks at loss over government's inconsistent policies
Local commercial lenders are expressing frustration over the inconsistent policy priorities of financial authorities, according to market watchers.
Nov 7, 2023
Lee Kyung-min
Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
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Economy
World's top 2 proxy advisers show support for KB's new chairman
Institutional Shareholder Services (ISS) and Glass Lewis, the world’s two leading proxy advisories, have recommended that investors approve the appointment of Yang Jong-hee as the new chair of KB Financial Group, according to market watchers, Monday.
Nov 6, 2023
Companies
Dayou Winia unloads golf course to ease liquidity crunch
Cash-strapped Dayou Winia Group has found a breakthrough after suffering from a liquidity crisis for years, buoyed by the selloff of Monvert Country Club in Pocheon, Gyeonggi Province, to Dongwha Group, according to market watchers, Friday.
Nov 3, 2023
Economy
Unsecured loans rise in October on leveraged borrowing
Unsecured loans rose over 608 billion ($460 million) in October from the month before, breaking nearly two years of sustained decline, after leveraged borrowers sought a new line of credit due to tightened mortgage rules, data showed Friday.
Nov 3, 2023
Economy
BOK likely to freeze key rate this month
The Bank of Korea (BOK) is likely to freeze its policy rate this month, as aided by the U.S. Federal Reserve’s less hawkish-than-expected stance overnight and subsequent reduced risk of a further rate gap between the two countries, Thursday.
Nov 2, 2023
Economy
Battery stocks plummet due to concerns over softening EV demand
The local stock market bounced back slightly, Wednesday, a day after it fell sharply due to the plunging share prices of rechargeable battery manufacturers brought on by dampening investor sentiment over a softening of demand for electric vehicles (EV).
Nov 1, 2023
Economy
Woori Bank to open two new branches in India in H1 2024
Woori Bank will open two new branches in India, the world’s leading emerging market, the local lender said Tuesday.
Oct 31, 2023
Companies
Hankook Tire leads carbon neutrality drive
The headquarters of Hankook Tire & Technology in Seongnam, Gyeonggi Province. Courtesy of Hankook Tire & TechnologyBy Lee Kyung-minHankook Tire & Technology is advancing carbon neutrality through efforts to outline and meet tangible reduction goals under the guidance of the Science Based Targets initiative (SBTi), a framework for best practices in emissions reductions and net-zero targets in line with climate science. Hankook Tire announced the 2050 Carbon Neutral Roadmap this month and obtained approval from the SBTi for the 2030 short-term greenhouse gas reduction target and the 2050 net zero target.SBTi is a global initiative whereby individual firms' greenhouse gas reduction targets are met as backed up by scientific evidence.Thousands of industrial leaders around the world are joining the move. Hankook Tire is among only a handful of companies approved by SBTi.Hankook Tire will reduce by 2030 each of the total amount of direct and indirect greenhouse gas emissions generated during the production stage by 46.2 percent compared to 2019.The reduced amount will be 27.5 p
Aug 25, 2023
Companies
Hyundai Steel bolsters low-carbon marketing with HyECOsteel
Hyundai Steel CEO Ahn Dong-il / Courtesy of Hyundai SteelBy Lee Kyung-minHyundai Steel plans to launch HyECOsteel, a low-carbon brand, to bolster brand marketing in line with the global carbon-neutral transformation in the automobile and shipbuilding industries. HyECOsteel has a strong commitment to “green steel” manufacturing, it added.The Hyundai Motor affiliate said in April that its steel mill will adopt a “green steel” manufacturing process to better respond to “green protectionism” as evidenced by the European Union's Carbon Border Adjustment Mechanism (CBAM), a tool it said would promote fair pricing of carbon emitted during the production of carbon-intensive goods that are entering the EU, and to encourage cleaner industrial production in non-EU countries.Ahead of its first-quarter earnings report, the firm in April unveiled a carbon-neutral growth plan whereby direct and indirect emissions will be cut by 12 percent by 2030 to achieve net-zero goals in 2050.The Hyundai affiliate plans to produce high-quality steel for low-carbon automobiles
Aug 25, 2023
Companies
'Team Korea' wins $446 mil. solar energy contract in US
EIP Asset Management CEO Park Hee-jun, right, High Road Energy Marketing CEO Derrick Eugene, left, and the firm's vice president Chris Kirksey, center, pose for a photo after signing a membership interest purchase agreement via an online meeting, Aug. 17. Courtesy of SK Ecoplant By Lee Kyung-minA team of Korea's state-run and private entities, as well as sovereign funds, have won a 600 billion won ($446 million) solar energy business contract in the U.S., according to market watchers, Sunday. Among participants of the 459 megawatt (MW) solar power plant construction project in Concho County, central Texas are Korea Overseas Infrastructure and Urban Development Corporation (KIND), Plant, Infrastructure and Smart City (PIS) Fund, SK Ecoplant, Hyundai Engineering & Construction.The Energy Innovation Partners (EIP) Asset Management, the organizer of the 600 billion won contract, signed a membership interest purchase agreement (MIPA) with the entities, and a separate agr
Aug 20, 2023