The Korea Herald

Kim Yon-se

안녕하세요 Kim Yon-se 기자입니다.

Articles by Kim Yon-se

Banks told to slash...rates on overdue loans

Sept 6, 2011

The Financial Supervisory Service said Tuesday that it would ease the burden on consumers by instructing banks to slash additional interest rates on overdue loans.The measure comes as part of the regulator’s policy to enhance consumer rights while low- and middle-income households suffer from high a
12 savings banks on close watch list

Sept 5, 2011

FSS warns that the banks may be subject to business suspensionAt least 10 savings banks have been on the close watch list of financial regulators for their poor financial statements, officials said Monday.As a “prior warning” to the industry, the Financial Supervisory Service has reportedly informed
FSS seeks insurance globalization

Sept 5, 2011

500 officials in 70 nations to attend global regulatory meetingAbout 500 regulatory officials and CEOs in the insurance industry from 70 nations are set to attend one of the world’s three major financial supervisory meetings, slated for later this month in Korea.The 18th annual conference of the Int
BMW draws growing complaints in Korea

TransportSept 4, 2011

A growing number of Korean drivers have complaints about BMW vehicles even as the carmaker is securing the No. 1 position in sales among foreign automakers in the local market.According to the Korea Consumer Agency, BMW Korea saw its sales come to 17,072 units for the first seven months of the year,
Sorento boosts Kia sales in U.S.

TransportSept 2, 2011

Kia Motors saw its sales exceed 300,000 units in the United States for the first eight months of this year, thanks to growing popularity of the crossover utility vehicle Sorento R.The automaker said Friday that it sold 41,188 vehicles in the U.S. market in August to post 331,796 units in sales this
Regulator seeks to slash banking fees

Sept 2, 2011

The Financial Supervisory Service plans to unveil a series of measures to protect consumer rights and ease the burden of low- and middle-income households, starting next week.Among other things, the financial regulator is considering putting pressure on commercial banks to slash a variety of service
Korean long jumper reaches final

Sept 1, 2011

Kim Deok-hyeon on Thursday became the first South Korean to qualify for the long jump final at the World Championships in Athletics, while his compatriots in other events were knocked out early.Kim, considered South Korea's best hope for a top-10 finish, was 11th best in the qualification at 8.02 me
LG, Philips, Sharp join hands to boost smart TV apps

Sept 1, 2011

Major TV makers LG Electronics Inc., Royal Philips Electronics and Sharp Corp. agreed to join forces to ramp up applications for Internet-powered televisions, hoping that the expansion of the TV ecosystem would fuel demand for smart TVs, the Korean firm said Thursday.The three companies from South K
LG Uplus to cut mobile tariff by 1,000 won

Sept 1, 2011

South Korea‘s smallest mobile operator LG Uplus Corp. said Thursday that it will reduce its mobile-phone rates by 1,000 won starting in November, joining its two bigger rivals, which gave into government pressure to cut mobile fees.LG Uplus will start charging 10,900 won as its basic mobile-phone ra
Ssangyong, Renault lead sales growth

TransportSept 1, 2011

Ssangyong Motor and Renault Samsung Motors have taken the lead in vehicle sales growth in August, surpassing competitors Hyundai Motor, Kia Motors and GM Korea.Ssangyong Motor saw its sales surge 54.6 percent in August from a year earlier on the back of brisk exports and steady domestic demand.It so
Loan delinquency rate reaches 11-month high

Sept 1, 2011

Price hikes weaken households’ ability to pay debts in JulyCommercial banks saw the ratio of overdue household loans reach the highest level in 11 months in July, despite financial regulators’ countermeasures to curb lending growth.The delinquency rate in banks’ household loans posted 0.77 percent i
GM Korea vows to attain double-digit market share

TransportAug 31, 2011

GM Korea has resolved to secure more than 10 percent of the local market on a yearly basis, unveiling its plan to launch new models of the Chevrolet series. Mike Arcamone, president and CEO of General Motors’ local unit, stressed that the automaker could see “double-digit market share” in Korea at t
Lending controls invite resistance from banks

Aug 31, 2011

Credit card firms also voice discontent with regulatory policiesUneasiness and skepticism over the financial regulators’ policy to curb household loans are growing in the banking sector and among think tanks.While the Financial Services Commission plans to unveil additional measures to curb househol
Hana Financial sees growth with soundness

Aug 30, 2011

In the years since the 2008 global financial crisis, Hana Financial Group has been successful in attaining qualitative growth and asset soundness at home and abroad over the past few years.A variety of indices show that the nation’s fourth-largest financial group has made headway in its move to crea
Questions arise over loan controls

Aug 30, 2011

Skepticism emerges on real role of financial authoritiesTop financial regulators’ move to curb the growth of household lending in the banking sector doesn’t appear to have gained widespread support, even among ordinary regulatory officials.Financial Services Commission chairman Kim Seok-dong has rep