The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

Asiana supports schools in China

IndustryMar 22, 2012

Asiana Airlines has launched a program to set up partnerships with schools in China.The nation’s second-largest air carrier signed a tie-up with a middle school in China’s northeastern city of Tumen on Thursday.It donated 40 personal computers, 1,000 books and a piano to the school and agreed to provide a class.Asiana plans to increase the number of sisterhood alliances with schools in the carrier’s 20 destinations in China. The cities include Xian, Yanji and Changchun. “We have been carrying ou
KB chief invited to G100 meeting

Mar 21, 2012

KB Financial Group chairman Euh Yoon-dae has been invited to the meeting of globally influential chief executives, dubbed G100 Europe.It will be the first time for a Korean CEO to participate in the meeting of about 100 global senior figures, which will be held in London from March 27-28.He is scheduled to attend a variety of discussions such as “The role of CEOs during the changing period” and “Changes in the banking sector’s effects on the manufacturing industry.”The G100 members include Jack
Citibank targets middle-income earners

Mar 20, 2012

Citibank Korea has decided to shift its asset management business focus to the middle-income bracket, from its earlier target of wealthy customers.While the bank had mainly focused on private banking for customers with deposits of at least 100 million won ($87,700), its target will be expanded to those with financial assets of at least 20 million won.“Among total Korean adults, the proportion of them whose financial assets come to 20 million won is 35 percent,” Citibank Korea CEO Ha Yung-ku told
Card firms’ profits fall for 1st time in 3 years

Mar 20, 2012

But earnings from charging service fees remain robust: FSS dataThe yearly earnings of credit card firms dropped in 2011 for the first time in three years amid financial regulators’ stricter policy on blocking reckless business expansion.According to the Financial Supervisory Service, six major credit card issuers saw their combined net profit stay at about 1.3 trillion won ($1.15 billion) in 2011, down 51 percent from 2.7 trillion won a year earlier.This was the first fall since their net profit
Banks strive for concessions in Asia

Mar 19, 2012

Consultation with foreign regulators emerges as key task for successKorean banks have been in competition to win eased regulations from overseas financial regulators as they tap emerging markets.Their main targets include East, Southeast and South Asian countries.“We are developing financial products which will come under deregulation from regulatory authorities in China, Vietnam and Brazil,” a senior executive at Korea Exchange Bank said.He said KEB is mapping out strategies to regain competiti
Hyundai Motor heir takes steel unit post

TransportMar 16, 2012

Hyundai Motor vice chairman Chung Eui-sun will take on a vice chairman post at Hyundai Steel.Chung was appointed as vice chairman in charge of product quality at the non-automotive affiliate of Hyundai Motor on Friday.The heir apparent of Hyundai Motor Group chairman Chung Mong-koo has now four titles including Kia Motors president & CEO and Hyundai Mobis vice chairman.“While Hyundai Steel vice chairman and CEO Park Seung-ha will still take the initiative in overall management of the company, vi
Mitsubishi cars come back to Korean market

TransportMar 16, 2012

Mitsubishi Motors Corp. resumed its vehicle sales in Korea by unveiling two models.The Japanese carmaker reentered the local market on Friday after a hiatus of about a year by signing an exclusive dealership contract with CXC Motors.CXC Motors was established by Hanjin Group founder’s grandson Henry Cho in 2011.Mitsubishi and CXC unveiled compact crossover RVR and pick-up truck L200 during the unveiling event at the KINTEX in Ilsan, Gyeonggi Province.CXC Motors is poised to open large showrooms
Chung foundation launches education program for poor

TransportMar 15, 2012

The Chung Mong-koo foundation of Hyundai Motor Group has set up an educational program dubbed “On Dream School.”The program is designed to foster outstanding figures among students from underprivileged households, Hyundai Motor said in a statement.Its main functions will include providing students ― from elementary to college ― with scholarships and opportunities for high-quality education.On Thursday, the social foundation signed a pact with the Ministry of Education, Science and Technology on
KEB targets rich Koreans in U.S.

Mar 15, 2012

CEO says bank also plans to open branches in South AmericaKorea Exchange Bank CEO Yun Yong-ro unveiled his global business strategy to focus on the private banking sector and attract wealthy Koreans residing in the U.S.“We are considering reentering the (retail banking) market in the western and eastern parts of America,” he told a news conference in downtown Seoul on Thursday. In 2004, KEB had to close down its retail banking business in Los Angeles and New York City due to U.S. financial regul
Hyundai Motor’s Veloster sales brisk in U.S. market

TransportMar 13, 2012

Hyundai Motor saw its U.S. sales of Veloster, a three-door sports car, jump last month on the back of the company’s Super Bowl advertisement.The company’s sales of the Veloster came to 3,240 units in the United States in February, up 91.4 percent from a year earlier.The Hyundai vehicle is vying for the top place in the sport compact segment with BMW’s Mini Cooper and the Fiat 500, which posted sales of 3,686 units and 3,227 units, respectively.The Veloster made a sensation in October last year,
Kookmin Bank offers direct mobile payment

Mar 13, 2012

Kookmin Bank has introduced a direct payment service with only smartphone numbers for the first time in the local banking industry.Customers of the commercial bank are allowed to pay for goods with their smartphones immediately through the app “UbPay.”By registering their bank accounts on the UbPay app, customers can enjoy the direct payment service ― not a monthly-based payment ― only with their phone numbers.Over the past few years, Kookmin Bank has led in comprehensive personal banking servic
BOK opens Shanghai office

Mar 12, 2012

South Korea's central bank said Monday that it opened an office in Shanghai in a bid to better monitor the Chinese markets.The Bank of Korea said the new office in Shanghai will help it get better access to Chinese market information on a real-time basis as it has recently been granted a license to
Hyundai city car gains popularity in India

TransportMar 12, 2012

Hyundai Motor’s Eon is gaining popularity in India, becoming one of the five best-selling cars in the emerging market.The automaker saw sales of the Eon, a hatchback city car, surpass 10,000 units last month for the first time since its launch in India last September.With 10,480 units, the Eon ranked fifth in sales. The top four best-selling models were Maruti Suzuki’s Alto, Swift, Dzire and Wagon R. Hyundai’s Eon features an 800cc engine, and was launched in the local market in October, with sa
Woori Financial in dilemma over whether to adopt ‘matrix’

Mar 12, 2012

Woori Financial Group seems to be in a dilemma over whether to introduce the “matrix” system, which connects units such as banks and brokerages.The nation’s largest financial group, which launched a study on the fresh business concept in the second half of 2011, has already completed working-level reviews.But the group has not fixed the details or timing due to strong opposition from its flagship unit Woori Bank.“There is stern criticism from the union of the bank unit toward the introduction of
KB chief to address IIF in Bangkok

Mar 12, 2012

KB Financial Group chairman Euh Yoon-dae will participate in a meeting of the Institute of International Finance as a board member to discuss Asian financial issues.This meeting of the IIF, the world’s largest industry group of financial institutions, will be held in Bangkok from March 13-15.As a speaker for the third session, Euh is scheduled to deliver a speech on the “changing environments of the financial industry and risk management of financial companies.”Euh, who has 30 years of experienc