FINANCIER OF THE YEAR/ WOORI BANK

The Korea Herald launched the Global Finance Awards with the understanding that in order for the South Korean economy to make new leaps in the fourth industrial revolution, it is imperative that a global-level financial ecosystem be established and that the competitiveness of the local financial industry be reinforced. The objectives of these awards are to honor financiers and financial firms that have made significant strides in providing convenient financial services with new technologies, des

SECURITIESKOREA INVESTMENT & SECURITIESKorea Investment & Securities is quickly becoming Asia’s leading investment bank, as it increases its presence in major global markets while securing a stable profit model.The Korean securities firm has been pursuing a two-track model combining investment banking with asset management and trading, with aims to develop a stable profit model. As a result of such efforts, Korea Investment & Securities posted net profit of 410.9 billion won ($

Structural reform, both intentional and unintentional, in South Korea's key industries and labor market will slow its economy next year, Nomura Financial Investment Co. said Wednesday.The brokerage firm pointed to restructuring as a key reason for its trimming of the economic growth forecast for 2019 to 2.5 percent from its previous projection of 2.7 percent. The forecast is conservative compared with those by local state entities. The Bank of Korea put the growth outlook for 2019 at 2.7 percent

By all counts, Hong Kong and China stocks have had a roller-coaster year in 2018. The Hang Seng index, after rallying in January to a record high above 33,000, pulled back more than 25 percent to just above 24,500 as US-China trade tensions escalated through the summer.  We recently saw a rebound as President Trump signaled a possible rapprochement. We believe this nascent recovery may have more room to run in the near term, based on our assessment of some of the underlying drivers of

CONSUMER FINANCIAL SERVICES/ HYUNDAI CAPITAL

GENERAL INSURANCE/ SAMSUNG FIRE AND MARINE INSURANCE

INNOVATIVE SERVICES/ BANKKB KOOKMIN BANKSouth Korea’s KB Kookmin Bank is continuing to digitally transform its diverse finance service offerings, with the aim of delivering more innovative and convenient banking services to its customers in both online and offline settings.　Bringing a digital touch to traditional mobile finance apps, KB introduced a chatbot banking platform last year called “Liiv Talk Talk,” which allows customers to activate certain banking services by convers

The amount of foreign securities held by major South Korean institutional investors rose to a record high in the third quarter of this year on growing demand for overseas bonds, central bank data showed Wednesday.The value of foreign stocks and bonds owned by institutions came to US$261.2 billion as of the end of September, up 3.7 percent, or $9.3 billion, from three months earlier, according to the data compiled by the Bank of Korea. The latest outstanding balance of foreign securities exceeded

Speakers at 6th OECD World Forum call for alternative measurements of economic well-being

South Korea's chief economic policymaker on Tuesday urged parliament to approve a record budget proposal for 2019, stressing that passing it is necessary to help resolve chronic problems, such as the low birthrate and dismal job conditions.The National Assembly's review of the government's 2019 budget proposal hit a snag as rival parties sparred over an estimated shortfall in tax revenue at a meeting of the subpanel on the budget. The legal deadline to review the government's record 470.5 trilli

Business sentiment in South Korea sank to a 22-month low for December amid flaccid domestic demand and worsening export conditions, a poll showed Tuesday.The business survey index  of the nation's top 600 firms by sales came to 88.7 for next month, down from 90.4 in November and the lowest level since 87.7 in February 2017, according to the Korea Economic Research Institute. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite.The p

Gurria calls Seoul to look beyond conventional economic indicators

The financial regulator said Tuesday it will ease rules for banks and other financial institutions to acquire more financial technology firms, in a fresh bid to support the fintech industry. Currently, banks and other financial institutions are allowed to acquire fintech firms only in the sectors of electronic payment and software development.  Critics say such a rule is outdated, given the fast-growing market for fintech firms. Since 2015, local financial firms have acquired only 3 fintech

A majority of South Korean certified public accountants are gloomy about the country's current business conditions and their outlook for next year due to anemic domestic demand and other negatives, a poll showed Tuesday.According to the survey of 300 accountants conducted by the Korea Institute of Certified Public Accountants, the business survey index stood at 64 for the second half of the year. The figure for the first half of 2019 came to 69.A BSI reading below 100 means pessimists outnumber