JB Financial Group’s Jeonbuk Bank said Monday it will add 17 more banks to the list of financial institutions in Cambodia that accept real-time money transfers made through the Korean bank. This newest addition brings the total number of such institutions to 49, providing expanded opportunities for customers to make transfers to various banks. “We hope that our unique overseas real-time transfer service will be helpful to our customers who want to make transfers to Cambodia,” J

Seoul shares opened higher Monday, tracking gains on Wall Street last week, with investors staying concerned over the US Federal Reserve's further rate hikes to tame inflation. The benchmark Korea Composite Stock Price Index rose 20.83 points, or 0.83 percent, to 2,521.77 in the first 15 minutes of trading. The main index stayed nearly unchanged last week, closing 0.02 lower at 2,500.94 on Thursday. The stock market was closed Friday to celebrate Children's Day. On Wednesday, Fed Chair

South Korea's finance minister said Monday the government will make efforts to utilize the outcome of President Yoon Suk Yeol's recent visit to the United States and build a stronger alliance in the chip sector. South Korea and the US agreed to cooperate in the fields of next-generation semiconductors, as well as global supply chains, during Yoon's state visit to Washington. "The recent state visit has built the ground for establishing a firm cutting-edge technology and cultu

The number of rail passengers in South Korea shot up 44 percent on-year in the first quarter, data showed Sunday, as the country returned to pre-pandemic normalcy. Around 39.2 million people traveled on railways in the January-March period, rising sharply from 27.2 million tallied a year earlier, according to the data compiled by the Ministry of Land, Infrastructure and Transport. The figure excludes passengers of subways or their equivalent. The figure represents a 0.7 percent rise from the fir

May is traditionally a month for a slew of family-oriented celebrations that involve gift-giving and outdoor dining. Regarding the holidays that are concentrated in early May, more than 80 percent of Koreans in their 20s said they feel pressured about having to spend money on holidays in "family month," according to a recent survey. The survey, conducted by job seeking site AlbaChunkuk on 615 Koreans in their 20s, showed that 85 percent of the respondents had replied they felt "st

South Korea's finance minister said Thursday taming inflation remains the top priority for the country's economic policy, noting a hasty transition may reignite inflationary pressure. Finance Minister Choo Kyung-ho made the remark during a press conference on the sidelines of the 56th Annual Meeting of the Board of Governors of the Asian Development Bank in Incheon, 27 kilometers west of Seoul. "Unstable factors from home and abroad still linger here and there," Choo said.

South Korean stocks closed almost flat Thursday, after the US Federal Reserve spurned the possibility of an imminent end to the rate hike cycle and ruled out that a rate cut is unlikely to happen anytime soon. The local currency gained sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 0.46 points, or 0.02 percent, to 2,500.94. Trading volume was moderate at 797.8 million shares worth 9.85 trillion won ($7.43 billion), with decliners slightly outnumbering gainers

The rate gap between South Korea and the United States has reached an all-time high, raising concerns over the local financial market due to higher volatility and uncertainty, Finance Minister Choo Kyung-ho said on Thursday. The US Federal Reserve lifted its base rate by 25 basis points on Thursday, widening the rate gap between Korea and the US up to an unprecedented figure of 1.75 percentage points. "In a situation where the interest rate gap is widened, there is a possibility of increasi

South Korean stocks opened marginally lower Thursday after the US Federal Reserve threw cold water on market expectations that the rate hike cycle is soon nearing an end, ruling out the possibility of a rate cut this year. The benchmark Korea Composite Stock Price Index slipped 3.42 points, or 0.14 percent, to 2,497.98 in the first 15 minutes of trading. Fed Chair Jerome Powell said after its policy meeting that it's too soon to say the rate hike cycle is over as the Fed believes the inflat

South Korean stocks snapped a three-day winning streak on Wednesday as uncertainties surrounding the US banking crisis reignited recession fears ahead of the Federal Reserve's policy meeting this week. The local currency edged up against the US dollar. The benchmark Korea Composite Stock Price Index retreated 22.99 points, or 0.91 percent, to close at 2,501.40. Trading volume was moderate at 877.4 million shares worth 9.72 trillion won ($7.26 billion) with decliners outnumbering gainers 524

President Yoon Suk Yeol pledged that Korea will contribute to building cooperative supply chains in the Indo-Pacific region through “partnership and solidarity” during an event held by the Asian Development Bank in Songdo, Incheon, on Wednesday. "The pandemic has pushed the global economy into tremendous hardship,” Yoon said in his congratulatory address for the ADB’s 56th Annual Meeting of the Board of Governors, citing Russia's invasion of Ukraine and the frag

South Korea and the Asian Development Bank announced Wednesday that they would launch a joint organization to facilitate climate change talks and networking. Finance Minister Choo Kyung-ho and ADB President Masatsugu Asakawa signed an agreement to set up the organization called ADB-Korea Climate Technology Hub, or K-Hub, in Seoul next year. The deal was made during the 56th Annual Meeting of the Board of Governors of the Asian Development Bank, taking place in Incheon’s Songdo district. Ac

South Korean stocks opened lower Wednesday on renewed fears over the US banking crisis following the auction of a US regional bank ahead of the Federal Reserve's policy meeting this week. The benchmark Korea Composite Stock Price Index slid 13.66 points, or 0.54 percent, to 2,510.73 in the first 15 minutes of trading. Wall Street ended the session down overnight as uncertainties arose over the financial system following the sale of the First Republic Bank to JPMorgan Chase & Co., led by

Morphing into a customer-centered financial platform company through open digital innovation, fostering digital talent and strengthening technological capabilities is one of the key strategies Hana Financial Group pushes forward. Based on big data, the banking group is developing products and services tailored to customer groups while converting offline branches into financial platforms where customers can satisfy their needs through human touch. The digital channel plays the role of an all-in-o

South Korean stocks closed higher Tuesday to extend their winning streak to a third day ahead of the US Federal Reserve's policy meeting later this week. The local currency fell against the US dollar. The benchmark Korea Composite Stock Price Index gained 22.86 points, or 0.91 percent, to finish at 2,524.39. Trading volume was moderate at 691.3 million shares worth 9.79 trillion won ($7.3 billion), with gainers outnumbering decliners 638 to 248. Foreigners bought a net 341.8 billion won of