The Korea Herald

FINANCE

All
Economy
Market
Money

LATEST NEWS

11 American soldiers newly assigned to S. Korea test positive for new coron...
K bank resumes consumer loan service
[Monitor] More companies encourage workers to use paid leave
IMM pauses acquisition of Kolmar CMO units
Kakao testing new office version of chat app with higher security
Naver, other 'untact' stocks' market value tops W100tr
[Newsmaker] Ex-secretary calls for probe into sexual abuse allegations invo...
Seoul stocks up on further stimulus hopes
Sejong Center to present 1,000 won shows
First Western head coach of LCK continues his magic

Today Markets

K bank resumes consumer loan service

South Korea’s oldest online-only lender K bank said Monday it has resumed its consumer loan business through its mobile apps. The new loan products will be offered either in the form of personal loans for consumers with mid- to high-credit scores or overdrafts. The annual interest rate for borrowers will be 2.08 percent at its lowest. Borrowers’ credit-worthiness will be assessed under K bank’s own credit scoring system that applies machine-learning techniques and big data

IMM pauses acquisition of Kolmar CMO units

IMM Private Equity’s plan to acquire Kolmar Korea’s contract-based pharmaceutical business assets for 512.52 billion won ($427.24 million) has been postponed indefinitely, filings showed Monday. In a renewed disclosure, the prearranged deadline for IMM’s all-cash deal to buy the assets owned by Kolmar Korea Holdings’ stake by July 31 was scrapped on Friday, without setting a fresh due date. This comes two months after Korea’s third-largest private equity fund ink

Today
Money
Naver, other 'untact' stocks' market value tops W100tr

A combined market value of Naver Corp., South Korea's top internet portal operator, and other so-called 'untact' stocks, such as Kakao Corp., have seen their combined market cap surpass the 100-trillion won ($83.27 billion) mark for the first time amid the novel coronavirus outbreak. The market capitalization of the three companies, including Kakao, the operator of the country's top mobile messenger KakaoTalk, and leading game developer NCSOFT Corp., came to 100.7 trillion won as of Mo

Today
Markets
Seoul stocks up on further stimulus hopes

South Korean shares closed higher Monday despite a hike in global virus outbreaks, buoyed by growing expectations for an additional stimulus package. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) jumped 35.81 points, or 1.67 percent, to close at 2,186.06. Trading volume was high at about 642 million shares worth some 10.3 trillion won ($8.6 billion), with losers outnumbering gainers 613 to 230. Foreigners bought a net 100 billion won, whil

Today
Markets
Banks likely to tighten loans on heightened risk: poll

Banks in South Korea will likely reduce their lending to local businesses and households in the third quarter due to the sluggish economy prompted by the new coronavirus pandemic, a central bank poll showed Monday. In the quarterly survey conducted by the Bank of Korea, the index measuring the banks’ attitude toward fresh loans came to negative 11 for the July-September period, marking a sharp turnaround from 1 for the second quarter and 11 for the first three months of the year. Such a

Today
Economy
Shinhan, Carlyle to create $600m infra fund

Shinhan Alternative Investment Management and US-based private equity fund Carlyle Group have agreed to create a fund to jointly invest in prime infrastructure loans, according to industry sources Monday. The fund, tentatively named “Shinhan Carlyle Infra Credit Fund I” will be launched after both firms finalize the agreement. The $600 million worth fund will be invested in overseas prime infrastructure loans in the US and Europe, they said. “Shinhan and Carlyle have discus

Today
Markets
FSS warns Shinhan, Hana, IBK of lax management in project financing

The financial watchdog said Monday it has issued a disciplinary warning to three lenders -- Shinhan, Hana and Industrial Bank of Korea -- for their slack management in project financing. Project financing refers to a long-term loans issued by savings banks and other lending institutions as well as a number of equity investors, which is aimed at supporting infrastructure projects. The Financial Supervisory Service slapped disciplinary measures against the lenders as they reportedly subt

Today
Money
Korea's ICT exports rebound on solid demand for computers

South Korean exports of information and communication technology (ICT) products rebounded in June, data showed Monday, as robust shipments of computers cushioned weak demand for displays and mobile devices. Outbound shipments of ICT products moved up 1 percent on-year to $14.9 billion last month, according to the data compiled by the Ministry of Science and ICT. It marked a sharp improvement from 15.3-percent on-year drop posted in April, which was followed by a 2.7-percent decline in May. Th

Today
Economy
Foreigners extend stock sell-off to 5th straight month in June

Foreign investors extended their selling spree of South Korean stocks to a fifth straight month in June, data showed Monday. Foreigners sold a net 420 billion won ($348.6 million) worth of local stocks last month, according to the data from the Financial Supervisory Service (FSS). American investors sold a net 2.5 trillion won worth of stocks last month, while British investors net purchased 1.7 trillion won worth of stocks, according to the FSS. As of end-June, local stocks held by foreign

Today
Markets
Seoul stocks open higher on stimulus hopes

South Korean shares opened higher Monday on hopes for economic rebound despite rising virus outbreaks around the globe. The benchmark Korea Composite Stock Price Index (KOSPI) added 13.51 points, or 0.63 percent, to 2,163.76 in the first 15 minutes of trading. The gains were led by optimism for a quick economic recovery. South Korea's exports fell 1.7 percent on-year in the first 10 days of July, but a slower rate of decline signaled recovery in outbound shipments. This week, South Kore

Today
Markets
S. Korea's exports fall 1.7% in first 10 days of July

SEJONG -- South Korea's exports fell 1.7 percent on-year in the first 10 days of July, but a slower pace of contraction signaled a recovery in shipments as more nations lifted coronavirus lockdown measures, customs data showed Monday. The nation's outbound shipments stood at $13.3 billion in the July 1-10 period, according to the data from the Korea Customs Service. The daily average exports during the 10-day period also declined 1.7 percent. In the first 10 days of June, exports jumped 20

Today
Economy
[Herald Interview] Former WeWork Korea general manager dives into proptech scene with platform Dongnae

Matthew Shampine aims to bring positive changes to domestic real estate sector

Jul 12, 2020
Markets
BOK likely to keep rate frozen due to heated housing market: experts

South Korea’s central bank is expected to keep its base rate frozen near-zero at its regular monetary policy meeting scheduled Thursday, to avoid further aggravation of the local housing market, experts said Sunday. According to experts, the Bank of Korea will maintain its policy rate at the current record-low of 0.5 percent for the time being, despite rate cut pressures stemming from economic downturns due to the coronavirus pandemic coupled with the trend of low inflation. This is main

Jul 12, 2020
Economy
Kospi likely to rebound to 2,200-level amid key economic policies

Korean New Deal drive to boost local IT stocks

Jul 12, 2020
Markets
COVID-19 shocks on wane in Seoul’s office leasing market

The prime office market in Seoul has recently showed signs of normalization, as uncertainties due to the economic impact of the coronavirus outbreak have been on the wane in key business districts, data showed Sunday. Demand from the information technology industry remained healthy, allowing major prime buildings to sign leases with large tenants, according to an estimate from real estate service firm Colliers International. In Gangnam, one of the larger business districts of the city, financ

Jul 12, 2020
Money

The Korea Herald by Herald Corporation

Address : Huam-ro 4-gil 10, Yongsan-gu,Seoul, Korea
Online newspaper registration No : Seoul 아03711
Date of registration : 2015.04.28
Publisher. Editor : Kwon Chung-won
Juvenile Protection Manager : Yang Sung-jin
Tel : 02.727.0114