Moon’s corporate governance reform initiative deterred by NPS leadership vacuum, fund depletion signals

The Korea Herald is publishing a series of interviews on promising startups in the financial technology industry. This is the 18th installment. -- Ed.　An online crowdfunding platform is a marketplace of ideas. And equipping that marketplace with a convenient payment tool is obviously key for the involved parties -- fundraisers with an idea and backers buying into the idea.For sponsors on Tumblbug, a startup operating an online rewards-based crowdfunding platform for content creators since 2011,

The International Insurance Society has selected co-authors of “Digital Agendas in the Insurance Industry: The Importance of Comprehensive Approaches” as the winners of Shin Research Excellence Award this year, according to Kyobo Life Insurance Tuesday. Recipients of the annual award in 2018 are Alexander Bohnert and Albrecht Frizche, both professors at Friedrich-Alexander University in Germany, and Shirley Gregor, a professor at Australian National University.  The prize was gi

South Korea's tax revenue was tallied at 31 trillion won ($27.9 billion) in May, up a sharp 12.4 trillion won from a year earlier, due to carried-over corporate tax earnings, data showed Tuesday.But if corporate taxes had been collected on schedule, the country would have collected an estimated 21.4 trillion won in dues in May, up 2.9 trillion won over the cited period, the data compiled by the finance ministry showed.Income tax revenue amounted to 11.5 trillion won in May, up 1.6 trillion won f

Repeated discords among policymakers have amplified concerns over the direction of the Moon Jae-in administration’s economic policies that are criticized for being detached from the reality.Adding to the confusion is half-baked proposals from a number of policy advisory panels swayed by progressive civic group members and scholars. Finance Minister Kim Dong-yeon, who doubles as deputy prime minister for economic affairs, last week rebuffed an earlier proposal made by a presidential panel t

Woori Bank has become South Korea’s first commercial bank dedicated to impact investing to create a quantifiable social and environmental impact along with financial gains. Woori Bank will invest 5 billion won ($4.5 million) into the private investment fund co-managed by Crevisse Partners and Lime Asset Management for 10 years, according to an announcement Monday. The 20 billion won impact equity fund will become Korea’s first impact investment fund, if launched in July as planned. O

This is the 58th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Aurora World Corporation, the South Korean plush toy manufacturer and supplier most-known for its global toy line “YooHoo & Friends,” is anticipating a leap forward in the second half of this year.A three-dimensional version of YooHoo & Friends computer-animated television adaption targeting 4 to 8-year-olds is set to be streamed through Netflix in the second half

South Korea's trade ministry is working on finalizing the members of the delegation for Washington's public hearing on auto tariffs slated for later this month, industry sources said Sunday.The Ministry of Trade, Industry and Energy decided to send the delegation to the July 19-20 public hearing, after the U.S.Department of Commerce in May hinted at slapping tariffs on vehicles under Section 232 of its trade law.The ministry said the delegation will be led by Deputy Trade Minister Kang Sung-cheo

South Korea's main stock index may fall to the 2,200 level next week due to a trade war that was kicked off by the United States applying tariffs on $34 billion worth of Chinese goods, analysts here said Saturday.The benchmark Korea Composite Stock Price Index is widely expected to move between 2,200 and 2,300 in the coming week due to growing uncertainties surrounding the US-China standoff. The main index ended 0.68 percent higher at 2,272.87 Friday after falling 2.3 percent over this past week

South Korea's central bank will likely hold its policy rate unchanged at the current 1.5 percent at its upcoming monetary meeting next week due to still low inflation pressure and rising uncertainties over trade disputes, a market watcher said Saturday.Chaired by Bank of Korea Gov. Lee Ju-yeol, the seven-member panel will hold its fifth monetary policy meeting Thursday and decide whether to keep or adjust the key rate.The BOK has maintained the present level in the previous four sessions since i

Representatives from South Korean financial investment companies have discussed ways to boost ties with Indian capital market officials and to explore Korean investment opportunities in India during their four-day trip to the country.The team of representatives, composed of chief executives of three securities firms -- Daishin, IBK and Hanwha -- four asset management firms -- Samsung, Shinhan BNP Paribas, Kiwoom and Mirae Asset -- as well as Kwon Yong-won, head of the Korea Financial Investment

South Korea is bracing for the impact of the opening blows in the United States’ trade war with China, while playing down the possibilities of immediate setbacks. Starting Friday at 1 p.m. Korean time, the US implemented 25 percent tariffs on $34 billion of Chinese trade. Immediately after the move, China vowed swift retaliation, calling the tariffs “typical trade bullying.” Prior to the US-China tit-for-tat, Asia’s fourth-largest economy at 8:15 a.m. held a pan-governmen

Multiple home owners may face a maximum tax hike effect of 2.8 percent from next year

The Chicago Mercantile Exchange lifted its suspension of trading through Hana Financial Investment Co. ahead of schedule as of Friday, the South Korean financial entity said.In May, the CME group, the US derivatives exchange operator, barred the brokerage firm's access to its system for trading overseas futures and options for 60 days up until July 20. The US entity cited Hana's offering of incomplete and inaccurate information on account ownership and transaction rights to customers as a reason

The looming US import curbs including tariffs and quotas on South Korean goods are expected to take a toll on Korea’s economic indicators, a report showed Thursday.In the wake of regulatory measures starting this year on steel, washing machines and solar cells, Seoul is likely to see some $2.5 billion cut in exports and 16,000 potential job losses here and abroad.  According to a report released by the National Assembly Budget Office, a Korean steel import quota to the US -- equivalen