Stock prices of oil- and gas-related companies went on a roller coaster ride Tuesday, amid investors’ interest in the discovery of possible oil reserves off the East Coast following President Yoon Suk Yeol’s announcement the previous day. With the government approving exploratory drilling for a potential 14 billion barrels of crude oil and natural gas reserve at Yeongil Bay in Pohang, North Gyeongsang Province, investors flocked to energy-related shares listed on the Korean bourse.

Asia's largest private equity firm MBK Partners is to push for the sale of Homeplus Express, a supermarket unit of Homeplus, according to industry officials Monday. The firm has kicked off the process by selecting Morgan Stanley as the sales manager for the deal. The details of the sales plan have not been released yet. Though the market had projected that the equity house would be eyeing an exit on Homeplus soon, the sales plan has been limited to its unit Homeplus Express for the time bei

While the US Securities and Exchange Commission made another move to embrace cryptocurrency by approving exchange-traded funds tied to the price of ether, the most famous crypto after bitcoin, spot cryptocurrency ETFs remain out of reach for South Korean investors. On May 23, the US SEC gave the green light for eight spot ether ETFs, potentially paving the way for the funds to begin trading later this year. The decision came four months after its landmark approval on spot bitcoin ETFs. For Korea

Some liken Rwanda to the “Singapore of Africa” due to its fast-growing economy and strategic focus on fintech. South Korean builders and financial firms are also eyeing their expansion in the burgeoning market, pinning high hopes on the upcoming Korea-Africa summit talks in Seoul. Since establishing official diplomatic ties in 1963, Korea and Rwanda have continued elevating their economic partnership. In 2023, Korea’s exports to Rwanda stood at $17.27 million, mainly consisting

KB Financial Group is to release a plan to uplift its corporate value in the fourth quarter as part of the government's "corporate value-up” directive, the financial giant said Monday in a regulatory filing. Its board members and executives held a meeting Friday, discussing how to boost its corporate value through mid- to long-term asset management, asset growth strategies and shareholder return policies, according to the announcement. The boost plan will include monitoring of th

The chief of Korea Exchange, the country's sole bourse operator, vowed Friday to boost the market valuation of companies listed on the local stock market with a seamless backup of the country’s “corporate value-up” directive. During a press conference commemorating his first 100 days in office, Korea Exchange CEO Jeong Eun-bo said the country's stock market is in dire need of tackling its perennial discount to turn it into a premium. “The Korea discount exists.

The Bank of Korea held the base policy rate at 3.5 percent for the 11th consecutive time Thursday, while raising the country’s economic growth estimate from the previous 2.1 percent to 2.5 percent. The central bank’s monetary policy board unanimously agreed to keep the key rate at the current level, BOK Gov. Rhee Chang-yong said at a press conference held shortly after the rate-setting decision. “With the strengthened upward pressure on the inflation outlook from April, it will

Akihiko Nishio, the World Bank’s vice president for development finance, said Korea becoming the host country for the International Development Association's 21st replenishment meeting could uplift the spirit of contribution to the global solidarity fund. The International Development Association, a development finance institution under the multilateral lender World Bank Group, seeks to help the world’s poorest countries improve by providing loans and grants. On Monday, the Wo

Woori Bank, one of the leading South Korean lenders, has joined hands with the National Bank of Cambodia to develop a cross-border quick response code payment system, the bank announced Friday. An agreement ceremony for the partnership was held Thursday on the sidelines of the Korea-Cambodia business forum, on the occasion of a summit between President Yoon Suk Yeol and Cambodian Prime Minister Hun Manet in Seoul. Business and political figures from Korea and Cambodia, including Woori Bank CEO C

[코리아헤럴드=임은별 기자] 미국의 대체거래소 블루오션테크놀로지스(Blue Ocean Technologies)는 지난 2021년부터 현지에서 유일하게 야간거래(overnight trading)를 지원하고 있는데 거래량의 40%를 한국 투자자들이 차지하고 있다. 브라이언 힌드먼 대표는 최근 코리아헤럴드와의 인터뷰에서 “아시아 투자자들은 월요일 아침에 주말 사이에 있었던 일들을 반영해 주식을 거래하기 때문에 대부분의 미국 투자자가 잠들어 있는 시간을 이용해 상대적으로 빠르게 주식거래를 할 수 있다”며 “블루오션은 미국 동부시간으로 일요일 밤이 대목”이라고 설명했다. 블루오션은 서비스 초기 삼성증권과 1년 동안 독점계약을 맺어 한국 투자자들을 공략했고 현재 모든 국내 증권거래사와 계약을 체결해 서비스를 제공하고 있다. 나스닥 출신인 힌드먼 대표는 “이제는 시대가 변했다”며 “투자자들은 보유 주식의 리스크를 실시간으

For Blue Ocean ATS, a broker platform that facilitates overnight trading for the US stock market, Sunday night is the peak trading hour as South Korean investors flock to execute orders before the US day trading begins. “Sunday night is our biggest night when it is Monday morning for the Asian investors and Korean investors. They start trading at 8 p.m. when traditional exchanges here in the US do not open until 9:30 a.m. on Monday,” Brian Hyndman, president and CEO at Blue Ocean Tec

Energy solution provider HD Hyundai Electric will be added to the Morgan Stanley Capital International Korea Index, alongside two other domestic companies, according to the index operator Tuesday. The MSCI Index is an influential market benchmark published by the US investment bank Morgan Stanley. Tracked by the global investment industry, the index measures the performance of the stocks included in its listing. The shares of three Korean companies, including HD Hyundai Electric, biotechnology c

Hana Financial Group Chairman Ham Young-joo joined the "Bye Bye Plastic Challenge" to increase awareness of the need to reduce plastic waste, according to the firm Wednesday. Appointed by Community Chest of Korea Chairman Kim Byong-joon, Ham joined the social media campaign, first initiated by the Ministry of Environment in August last year. Ham promoted the need to combat plastic pollution for the environment by holding discussions with Hana Financial employees at its office in centra

By Steve Brice From a very young age, we are taught that if you want to get better at something, then you need to expend time and effort to learn the necessary skills. We are also taught that you should focus on areas that you are going to make the biggest impact. When it comes to maximizing your financial position in life, the best way is to focus on your career and adopt a simple approach to investing i.e. regularly invest into a diversified portfolio regardless of what videos you see on TikTo

South Korean financial services conglomerate Woori Financial Group is seeking to diversify its business portfolio beyond banking in an apparent move to take on its bigger rivals here. Among the nation’s top four financial groups, Woori has long remained the smallest in terms of sales. Last year, Woori was the only one to post less than 3 trillion won ($2.2 billion) in earnings, with its net profit standing at 2.51 trillion won. KB, the No. 1 financial group, recorded 4.63 trillion won in n

Korea's major cryptocurrency exchange Bithumb said Friday that it will cover all the 40 billion won ($30 million) of taxes imposed on the winners of its crypto airdrop events. According to Bithumb, some 10,700 users were slapped with a combined 20 billion won in taxes last year for their compensations, including virtual assets and paybacks on commission, worth 83 billion won earned after participating in its multiple airdrop events held between 2018 and 2021. In Korea, the tax authorities h

There are over 80,000 individuals in Seoul with wealth of over $1 million, making it the city in the world with the 19th-highest number of millionaires, a recent study found. Around 82,500 residents in Seoul have wealth over $1 million as of December 2023, according to the “2024 World’s Wealthiest Cities” report issued by investment migration consultant Henry & Partners in collaboration with global data intelligence firm New World Wealth, Tuesday. In the annual report, weal

Mirae Asset Global Investments, a leading asset manager based in Korea, announced on Tuesday its high dividend yield exchange-traded fund has been included in the Stock Connect Scheme, a program that allows mainland China investors access to certain eligible Hong Kong-listed ETFs. The Global X Hang Seng High Dividend Yield ETF, operated by the asset manager's Hong Kong branch, was included in the program on Monday. The ETF tracks shares with high dividend yields on the Hong Kong Stock Excha

Hanwha Life, a major insurer under the Korean conglomerate Hanwha Group, is set to expand its presence in Southeast Asia, having secured a stake in Indonesia's Nobu Bank, according to the insurer on Monday. Hanwha Life acquired a 40 percent stake in Nobu Bank through a deal signed with Indonesia’s Lippo Group, a major conglomerate with businesses spanning Southeast Asia. The deal signing event was held in Jakarta on Friday, with Hanwha Life Vice Chair and CEO Yeo Seung-joo, its Presid

South Korea's inflation fell to the 2 percent range as the country’s directive to lower price growth has been continuing to go down a bumpy path on fluctuations in the oil and agricultural prices, data showed Thursday. Consumer prices, a key metric of inflation, rose by 2.9 percent in April, marking a 0.2 percentage point decrease from the 3.1 percent reading shown in both March and February, according to the data from Statistics Korea. “The prices of petroleum products, which r