The Korea Herald

Latin America base for Korea to access U.S.

Oct 21, 2011

Korean construction and telecommunications companies have been growing business opportunities in Latin America to use the region as a strategic base to access the U.S. market, said the head of Inter-American Development Bank.“Logistics, and cost of transportation will come to play an important role
SC First sets out on early retirement

Oct 21, 2011

Lay-off may be extended to non-executive posts as bank struggles with extended strikeStandard Chartered First Bank Korea began speeding up its manpower restructuring, as unionized workers’ long-running walkout failed to garner wide support from the public.This week, the bank launched one-on-one talk
Shinhan Bank opens first branch in western China

Oct 21, 2011

HONG KONG (Yonhap News) – South Korea's second-largest lender Shinhan Bank said Friday it has opened its first branch in the western region of China, amid rapid economic growth recently witnessed in China's less developed region.Shinhan Bank said its twelfth Chinese branch opened in Changsha,
Regulator poised to curb big bank dividends

Oct 20, 2011

South Korea’s financial regulator is moving to draw up measures to put a lid on local banks’ excessive dividend payouts that have caused a public outcry, officials said Thursday.“Measures are on the drawing board to require banks to cut the amount of profits available for dividends,” said an officia
Japan currency swap to bolster won: report

Oct 20, 2011

Experts call for government to sign more currency swaps with the U.S., ChinaThe expanded currency swap between South Korea and Japan is likely to bolster the value of the Korean won and help reduce its volatility, local brokerages said Thursday. Korea and Japan announced on Wednesday their agreement
Bank CEOs pledge to cut fees

Oct 20, 2011

Chief executives in the banking industry are moving to reach a consensus on slashing service fees on customer transactions amid mounting public anger over so-called corporate greed.The move comes after a group of citizens has been holding a series of rallies against financial companies, criticized f
Seoul shares end 2.74% lower on Europe’s woes

Oct 20, 2011

South Korean stocks closed 2.74 percent lower Thursday as investor sentiment was chilled by nagging concerns about the eurozone sovereign crisis, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index declined 50.83 points to close at 1,805.09.
KOTRA, KOGAS strike deal with IDB on more natural gas import

Oct 20, 2011

The Korea Trade-Investment Promotion Agency and the Korea Gas Corp. signed a memorandum of understanding with the Inter-America Development Bank to better access natural gas abundant in the Latin American region, Luis Albert Moreno, president of IDB said Thursday in Seoul. “Korea Gas Corp. probably
Hana Financial denies report of cutting KEB takeover price

Oct 19, 2011

(Yonhap News) -- Hana Financial Group on Wednesday denied a local report that it has asked Lone Star Funds to cut the sales price for Korea Exchange Bank (KEB), which South Korea's No. 4 banking group is trying to take over. In July, Hana agreed with the U.S. buyout fu
2012 growth rate forecast to miss growth potential

Oct 19, 2011

South Korea’s real economic growth rate is expected to hover below the country’s growth potential in 2012 due to the global economic slowdown, private think tanks said Wednesday.According to the Samsung Economic Research Institute), the nation’s inflation-adjusted growth rate for next year is estima
Forum agrees on plans for land management

Oct 19, 2011

U.N. Secretary-General Ban Ki-moon delivers a congratulatory video message for the opening of the senior officials’ session of the UNCCD COP 10 in Changwon on Monday. (Yonhap News)The world’s only legally binding forum against desertification announced on Tuesday its roadmap, dubbed the Changwon Ini
Korea, Brazil agree to boost trade, investment

Oct 19, 2011

South Korea and Brazil have agreed to expand their bilateral trade and investment as part of efforts to boost their overall economic cooperation, officials said Wednesday. The countries also shared the view that they and other emerging countries should keep their fiscal health strong enough to shiel
Seoul runs job fair for U.N., global finance bodies

Oct 19, 2011

The government plans to run a recruitment drive for Korean posts at United Nations agencies and other international institutions this Friday at Korea University in Seoul, the Finance Ministry said Wednesday.Finance Ministry and Foreign Ministry officials will explain the work and personnel policies
Buyers line up for savings banks

Oct 19, 2011

Potential bidders include Hyundai, Korea Investment and KiwoomCompetition to take over distressed savings banks has grown heated among investors after financial authorities began the process of selling six savings banks on Friday.The stock brokerage sector has emerged as the most active investor in
Regulators pile more pressure on ‘corporate greed’

Oct 19, 2011

Financial firms rebut mounting criticism over compensationKorea’s financial regulators continued their push to force the local financial industry to shape up, but changed their tone, mindful of excessive meddling in the private sector.The industry is under fire for getting away with large paychecks