Banking & Finance

Cancellation of shares more than doubles from last year

The value of shares canceled by listed companies in Korea more than doubled from last year, as the government is stepping up efforts to enhance shareholder return, data showed Monday.

Oct 14, 2024By Yi Whan-woo

Cancellation of shares more than doubles from last year

Interest rate cut brings mixed reactions across financial sectors

The end of the Bank of Korea’s (BOK) prolonged policy interest rate freeze is bringing mixed reactions across different financial sectors. While some sectors such as credit card firms may benefit from the change, others such as banks are apprehensive about the potential impacts on their profitability.

Oct 13, 2024By Jun Ji-hye

Interest rate cut brings mixed reactions across financial sectors

Surge in export growth raises hopes of Korea surpassing Japan

Korea's exports are growing at a faster pace with less than three months remaining in 2024, raising hopes of surpassing Japan in outbound shipments for the first time in history.

Oct 12, 2024By Yi Whan-woo

Surge in export growth raises hopes of Korea surpassing Japan

Book stocks enjoy surge over Korean author's Nobel Prize award

Shares of book publishers and book stores surged, Friday, a day after novelist Han Kang was awarded this year’s Nobel Prize in literature.

Oct 11, 2024By Yi Whan-woo

Book stocks enjoy surge over Korean author's Nobel Prize award

Overseas investors dump highest amount of Korean stocks since August 2021

Foreign investors unloaded more than 7 trillion won ($5.46 billion) worth of Korean stocks last month, driven by the global economic uncertainties that have accelerated the exodus of offshore investors.

Oct 11, 2024By Yi Whan-woo

Overseas investors dump highest amount of Korean stocks since August 2021

Korean firms’ overseas tax payments reach record high

The total amount of taxes paid abroad by Korean corporations reached a record high of 7.64 trillion won ($5.6 billion) last year, according to Rep. Cha Gyu-geun of the minor liberal Rebuilding Korea Party, Thursday. This is an increase of approximately 4.4 trillion won compared to 2019.

Oct 11, 2024By Jun Ji-hye

Korean firms’ overseas tax payments reach record high

Embattled Woori chairman grilled at Assembly audit over loan scandal

Woori Financial Chairman Yim Jong-yong said Thursday that he would take responsibility for any issues for which he should be held accountable regarding a substantial amount of inappropriate loans extended to relatives of the lender's former chief.

Oct 10, 2024By Jun Ji-hye

Embattled Woori chairman grilled at Assembly audit over loan scandal

INTERVIEW Citi emphasizes commitment to global FX management

Korea's possible inclusion in the World Government Bond Index (WGBI), operated by the London-based FTSE Russell, is expected to have various positive impacts on the overall Korean financial market beyond the local bond market, according to Flavio Figueiredo, Citi's global head of foreign exchange (FX) based in New York.

Oct 10, 2024By Yoon Ja-young

[INTERVIEW] Citi emphasizes commitment to global FX management

More hostile M&As likely on Korea's path to becoming advanced country in finance: report

Korean firms are anticipated to face more attempts for hostile mergers and acquisitions (M&As) as the nation strives to become an advanced country in the finance sector, according to a report released Thursday.

Oct 10, 2024By Yi Whan-woo

More hostile M&As likely on Korea's path to becoming advanced country in finance: report

Toss Securities appoints new CEO as predecessor resigns 6 months before term ends

Toss Securities announced Thursday the appointment of a new CEO, Kim Gyu-bin, following the sudden resignation of former CEO Kim Seung-yeon, who stepped down with six months remaining in his term.

Oct 10, 2024By Lee Yeon-woo

Toss Securities appoints new CEO as predecessor resigns 6 months before term ends

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