Business - The Korea Times

Hana Securities granted regulatory exemption for foreign investors’ direct stock trading

Hana Securities has been granted a regulatory exemption allowing nonresident foreign investors to directly invest in Korean stocks through overseas securities firms, the company said Thursday. This exemption enables foreign investors to open accounts with domestic securities firms at overseas brokerage branches. Starting with this initiative, financial authorities in Korea plan to gradually improve regulations to enhance foreign investors’ access to the domestic stock market. Hana Securities expects to roll out the new service after approximately two months of development. Upon launch, foreign investors will be able to trade Korean stocks through accounts opened at Hong Kong-based Emperor Securities. Additionally, the firm plans to expand the service to additional countries in the near future, as it is actively engaging with brokerage houses in Singapore, Taiwan and Japan that are interested in facilitating Korean stock investments. The latest regulatory reform was initiated due to the lack of utilization of the foreign investor omnibus account system, which was introduced in 2017. In res

Apr 3, 2025By Jun Ji-hye

Hana Securities granted regulatory exemption for foreign investors’ direct stock trading

Banks to close branches near Constitutional Court on day of Yoon’s impeachment ruling

Major commercial banks in Korea will temporarily close their branches near the Constitutional Court on Friday, when the court is set to deliver its impeachment ruling against President Yoon Suk Yeol, industry officials said Thursday. The banks made this decision due to concerns over potential safety incidents, as large crowds of supporters and opponents of impeachment are expected to gather near the court. Shinhan Bank will temporarily close its two branches near the court on that day, and employees at the branches will be reassigned to alternative workplaces. The bank sent notifications to its customers regarding the closures. Hana Bank will suspend operations at two branches near the court and designate its branch in Jongno and the 19th floor of its Euljiro headquarters as alternative service locations. Woori Bank has also decided to close its Anguk Station branch near the court and will guide customers to alternative branches in the Jongno area. KB Kookmin Bank has no branches located within 600 meters of the court. Still, the bank conducted inspections of fire extinguishers, emergency

Apr 3, 2025By Jun Ji-hye

Banks to close branches near Constitutional Court on day of Yoon’s impeachment ruling

NH Financial, IBK embrace whistleblower system to curb employee misconduct

NongHyup Financial Group and state-run lender Industrial Bank of Korea (IBK) have embraced a whistleblower system in a move to prevent employee misconduct, including embezzlement and poor screening of loans, market watchers said Wednesday. Propelling the rushed efforts are poorly granted loans of over 88 billion won ($60 million) reported at the state lender and 108 billion won for the agriculture-oriented financing service provider. The IBK figure was 24 billion won at the time of the occurrence, but further investigation revealed the amount to be nearly triple the initial figure. This adds to over 187 billion won in financial irregularities at local banks last year, a five-year high and a 27-fold increase from 6.8 billion won in 2020. The state lender said it established a committee to oversee an internal whistleblowing system. The five-member committee with three outside figures will spearhead reform and report progress to the board of directors. The lender’s whistleblowing system, K-Whistle, operated by Korea Business Environment Institute, will allow IBK employees to report miscond

Apr 3, 2025By Lee Kyung-min

NH Financial, IBK embrace whistleblower system to curb employee misconduct

Financial fraudsters exploit K-pop craze among foreign students

As an avid fan of the K-pop boy group Seventeen, Ashurova Mehrona was all too familiar with photo cards — a must-have item for K-pop enthusiasts. Yet, she never imagined that this token of fandom could be used in financial scams targeting foreign students. "You might appreciate how valuable and collectible these items can be. If you’ve ever traded photo cards or bought them from a seller, it’s clear how much trust is involved in these transactions," said Mehrona, a Tajikistan national currently studying at Kyungpook National University. Photo cards, featuring the faces of K-pop stars, are randomly included as a gift with album purchases. Fans often trade or buy the cards online to complete their collections. When supply is limited, demand and prices can skyrocket. In a surprising twist, scammers are exploiting foreign students' passion as well as their occasional financial struggles. A scammer poses as a buyer and approaches a photo card seller online — often a foreign student living in Korea — asking to purchase a card. The seller provides their bank account information for pa

Apr 2, 2025By Lee Yeon-woo

Financial fraudsters exploit K-pop craze among foreign students

Longer trading hours lauded Nextrade's biggest benefit

A month after its launch as Korea’s first alternative stock exchange, Nextrade's benefits and drawbacks have come to light as it tries to improve securities trading by breaking Korea Exchange's (KRX) long-standing monopoly, market watchers said Tuesday. The longer trading hours appear to be the biggest benefit that Nextrade offers so far, especially for salaried workers who struggled to find time to buy and sell stocks as retail investors during working hours. “We indeed take it as a compliment that most of our customers are individual investors, in our goal of providing investors with diverse trading options,” a Nextrade official said. His comment came after data showed retail investors accounted for 97.8 percent of Nextrade transactions after its March 4 launch. “Such ratio is noteworthy, and we reckon extended trading hours are attracting retail investors successfully,” the official said, noting they made up less than 50 percent of the transaction amount at the benchmark KOSPI by the end of 2024. He also noted that Nextrade operates from 8 a.m. to 8 p.m. on weekdays, longer t

Apr 1, 2025By Yi Whan-woo

Longer trading hours lauded Nextrade's biggest benefit

Woori Bank opens Polish branch as part of Europe expansion drive

Woori Bank opened a branch in Warsaw, Poland, Monday (local time), as part of its continued expansion drive into Europe, the lender said Tuesday. The new branch will fortify Woori’s presence in Eastern Europe. Its London branch remains a key foreign currency credit line, while the Frankfurt branch is a hub for corporate financing. The Warsaw branch will accelerate Woori's business expansion beyond Poland, further into Hungary, the Czech Republic, Slovakia and Romania, where many Korean companies operate. Poland is a manufacturing and logistics hub in Eastern Europe, with strong growth potential due mostly to its geographical location. Woori expects the new branch will integrate and complement work previously handled by one set up in 2017 in the southwestern industrial city of Katowice. “Poland is emerging as a key area of focus for Korean firms in defense, electric vehicles and rechargeable batteries manufacturing,” a Woori official said. “The reconstruction of war-torn Ukraine is of business interest to many.” Woori was cleared by the Polish regulators to establish the new branc

Apr 1, 2025By Lee Kyung-min

Woori Bank opens Polish branch as part of Europe expansion drive

INTERVIEW Toss aims to be top guide for retail investors trading US stocks: head researcher

A record number of Korean retail investors are increasing their holdings in U.S. stocks. Still, it is hard to find high-quality, in-depth market research papers that are easy to understand, especially for those without professional knowledge in finance. This, according to Toss Securities Research Center lead Lee Young-gon, begs the question, “Why do the average investors have to get buried under mountains of papers full of complex jargon and that are hard to make it through to the end?” Stock reports should be easy to read, Lee said in a recent interview with The Korea Times. “Many existing research reports are quite difficult and unfriendly for many." The reports seek to provide in-depth insights but tend to be overly complex, making it harder for retail investors to understand. “We are focused on making our content easier, even for average investors without deep knowledge in finance," he said. "Our goal is to balance depth with clarity so that our readers can comprehend the material without feeling overwhelmed." Underpinning the objective is a division of labor between analysts an

Apr 1, 2025By Lee Kyung-min

[INTERVIEW] Toss aims to be top guide for retail investors trading US stocks: head researcher

Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

Korean private equity firm Hahn & Company (Hahn & Co.) said Tuesday it has finalized the acquisition of an 85 percent stake in SK Specialty from SK Corp. for approximately 2.6 trillion won ($1.8 billion), three months after signing a stock purchase agreement in December. SK Specialty is a world leader in producing specialty gases crucial for semiconductor and display panel production. It holds the largest global market share in nitrogen trifluoride and tungsten hexafluoride, essential materials for advanced semiconductors. Through this acquisition, the private equity firm has bolstered its advanced manufacturing portfolio by adding a global leader in semiconductor materials. The firm secured an 85 percent stake in SK Specialty, while SK Corp. chose to keep the remaining 15 percent, recognizing the company’s growth potential. “We are proud to acquire SK Specialty, a global leader in specialty gases and a vital contributor to industries like semiconductors,” a Hahn & Co. official said. “We are committed to making significant investments to enhance SK Specialty’s technological edg

Apr 1, 2025By Jun Ji-hye

Hahn & Co. completes acquisition of SK Specialty for $1.8 billion

INTERVIEW Demand for Korea Treasury bonds robust due to WGBI inclusion optimism: MarketAxess, NHIS

Demand for Korea Treasury Bonds (KTBs) has been and will continue to be robust from foreign sovereign wealth funds, pension funds, central banks and asset managers, according to MarketAxess, a U.S. electronic trading platform for the institutional credit markets, and NongHyup Investment and Securities (NHIS) on Tuesday. Underpinning the optimism is Korea’s relative strength in fiscal soundness, market maturity and transparency, as well as long-term structural growth trends, they said. Also at play is Korea’s inclusion in the World Government Bond Index (WGBI), operated by the London-based FTSE Russell. An inflow of up to $67 billion (98 trillion won) in offshore investor funds is expected in November if included. The finance ministry said government efforts would continue reassuring offshore investors of KTB investments' strengths. Second Vice Minister of Economy and Finance Kim Yoon-sang held a virtual meeting on Tuesday with more than 130 global investment bankers, asset managers, insurers and hedge funds from London, Hong Kong, Singapore and Japan. Included were BlackRock and JPMo

Mar 31, 2025By Lee Kyung-min

[INTERVIEW] Demand for Korea Treasury bonds robust due to WGBI inclusion optimism: MarketAxess, NHIS

Coffee lovers frustrated by low-cost brands' price hikes

Kim, an office worker in her 30s, was irritated when she saw that the price of a large Americano was going to be raised by 300 won ($0.2) at a coffee franchise she frequents. “The price of everything is going up, including the cheapest kind of coffee,” she said. The increase of 300 won may not seem that big of a deal at first, but the thought of spending about 6,000 won more every month frustrates her. “Recently, the prices of fast food menu items rose, and so did the prices of a bag of snacks and a box of chocolates. Everything has increased except what I earn every month," she said. "A cup of Americano every morning on my way to work was one sure thing that would keep me upbeat. But the thought of having to pay extra is not going to do the same trick.” Kim is among many coffee lovers frustrated by the price hikes of low-cost coffee franchises. Mega Coffee, operated by Mega MGC Coffee, said it plans to raise the price of a cup of Americano by 200 won to 1,700 won starting on April 21. For larger cups, the increase will be 300 won. A shot of espresso will cost 100 won more. This incr