The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

Two savings banks probed for irregularities

Sept 21, 2011

The Financial Supervisory Service said Wednesday that it has uncovered two savings banks ― Jeil and Ace ― which have issued irregular loans to ailing builders over the past few years.The regulator filed complaints the two lenders and nine other banks in the secondary banking industry with the prosec
Ssangyong aims at 20 percent of SUV market

TransportSept 21, 2011

Under new vision, automaker seeks to achieve yearly sales of 160,000 vehicles by 2013Ssangyong Motor has set the goal of pulling up its market share in the local sport utility vehicle industry to 20 percent within five years, from the current 14 percent.The automaker unveiled the local market share
Savings banks to tap public funds soon

Sept 20, 2011

Suspended banks are expected to be auctioned off in the coming monthsFinancial regulators will inject taxpayers’ money, projected at about 500 billion won ($454 million), into the distressed savings banking sector by the end of this year.Under the policy of the Financial Services Commission, the Kor
Hyundai, Kia divide roles in eco cars

TransportSept 19, 2011

Hyundai to focus on hybrids, Kia on electric vehiclesHyundai Motor Group plans to carry out a role-sharing between Hyundai Motor and its affiliate Kia Motors in developing eco-friendly cars.Hyundai Motor will take on developing models of “plug-in hybrids,” which utilize rechargeable batteries, and h
Volvo Korea disguising who owns it?

TransportSept 18, 2011

Volvo Cars Korea has been providing consumers with outdated information over the automaker’s ownership structure on its website for about a year.Though China-based Zhejiang Geely Holding Group completed acquisition of Swedish-founded Volvo Cars from U.S.-based Ford Motor in the third quarter of 2010
Seoul to unveil list of troubled savings banks

Sept 16, 2011

Senior regulatory officials are considering the timing of the announcement of the list of debt-saddled savings banks, which will face business suspension.In particular, the officials seem extremely cautious over choosing the date as the Financial Services Commission and the Financial Supervisory Ser
Korea alert to possible impact of Europe crisis

Sept 15, 2011

Senior official conducts virtual intervention in won-dollar marketPolicymakers have stepped up again to minimize negative effects on the local financial markets amid the eurozone debt crisis, following their efforts in early August.Their key countermeasures included curbing steep depreciation of the
Woori Card moving to stand alone again

Sept 14, 2011

Woori Financial Group’s project to launch a stand-alone credit card operation is drawing interest as financial regulators move to sell dominant shares of the state-owned group.The financial group is scheduled to convene a board meeting this month to approve its plan to separate Woori Card from Woori
Brokerages lack financial health

Sept 13, 2011

Data shows Korean firms lag behind foreign rivals in soundnessKorean securities firms are of weak financial soundness compared to foreign brokerage houses in Korea, a regulatory report has shown.Data from the Financial Supervisory Service showed Tuesday that 42 local brokerages posted an average net
K5 hybrid listed in Guinness Book

TransportSept 13, 2011

Kia Motors said Tuesday that the hybrid-version of the K5, or Optima in the U.S., was registered in the Guinness Book of Records by recently posting about 27.5 kilometers per liter in fuel efficiency.Starting Aug 26, the automaker carried out a challenge driving of the sedan for 12,710 kilometers fo
BOK holds key interest rate at 3.25%

Sept 8, 2011

The Bank of Korea kept the benchmark interest rate unchanged at 3.25 percent Thursday despite inflationary pressures, leaving it steady for the third consecutive month.The decision of the central bank’s Monetary Policy Committee reflected global uncertainty, including the eurozone debt crisis, BOK G
FSS bows to banks on fees cut

Sept 8, 2011

Financial regulators have postponed instructing banks to slash service fees on transactions via automated teller machines due to complaints from the banking sector, sources said.The Financial Supervisory Service had planned to announce the policy to force banks to cut service fees on money transfers
Brokerages seek support to lift market status

Sept 7, 2011

Chief regulator urges CEOs to refrain from issuing credit loansCEOs in the brokerage industry called for financial authorities to map out measures for the South Korean stock market to be upgraded to developed status.Their request targets an upgrade from Morgan Stanley to reduce the “Korea discount”
FSS, Korea Exchange to probe ‘celebrity stocks’

Sept 7, 2011

The Financial Supervisory Service and Korea Exchange have embarked on a joint investigation into alleged manipulation of stocks connected to politicians and well-known figures.A group of retail investors has been chasing so-called “celebrity stocks” related to politicians and famous figures without
Real income growth lowest in 2 years

Sept 6, 2011

Korea’s economic growth slightly up from estimate thanks to public spendingKoreans saw the growth rate of their purchasing power fall to a two-year low during the second quarter of 2011, though the index inched up.The Bank of Korea said Tuesday that the gross national income inched up 0.6 percent to