Shinhan Card's spring-themed credit and debit cards have been well received by customers by providing excellent benefits and discounts at various stores both within and outside of Korea. The cards are named "Bom," a Korean word that holds dual meanings. Firstly, as a noun it can be translated to "spring," representing the beginning of the four seasons. The Korean company said it chose this name to show that its new card's concept symbolizes support for a vibrant and

The annual limit for overseas remittances without the need for additional documentation will be raised from $50,000 to $100,000 from July 4, following the passage of an amendment to the current limit on Tuesday. The current limit was created back in 1999 when the foreign exchange transaction-related law was first established. The changes are intended to reflect economic growth, according to the government. An amendment to the current law, which includes among other measures the increased limit f

JB Financial Group celebrated its 10th anniversary with an event held in Muju-gun, North Jeolla Province, according to the financial firm on Tuesday. The event on Saturday, held under the slogan, "10 Years of Partnership, New Leap," was attended by over 3,500 executives and employees, including JB Financial Group Chair Kim Ki-hong, Jeonbuk Bank CEO Baek Jong-il, Kwangju Bank CEO Ko Byung-il, JB Woori Capital CEO Park Chun-won, JB Asset Management CEO Choi Won-cheol and JB Investment CE

Korean credit card issuer Hyundai Card and Visa, a world leader in digital payment, on Monday announced that they have signed a strategic business partnership deal to collaborate on businesses using analyzed data. The partnership signing ceremony was held at Visa’s headquarters in San Francisco on Wednesday with top executives, including Hyundai Card Vice Chairman and CEO Chung Tae-young and Visa CEO Ryan McInerney in attendance. “Hyundai Card and Visa have agreed to prioritize colla

John Pritchard, the head of the tenant advisory group and global services at Cushman & Wakefield Korea, calls Korea a competitive investment destination for hyperscale data centers -- enormous tech complexes with soaring demand for data processing and storage in the burgeoning era of artificial intelligence. “The Korean market is primed for hyperscale data center investment,” the executive at the Korean unit of the US commercial real estate services firm told The Korea Herald in

KB Financial Group is hosting a networking event in Korea from Monday to Friday this week with 106 selected employees from overseas. The employees are from the group's five subsidiaries -- KB Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Capital -- based in 14 different countries. The invited employees are participating in programs including town hall meetings with the chairman, special meetings organized by each subsidiary and Korean cultural experience programs. In partic

Hana Bank announced on Wednesday that it has renewed its official sponsorship contract with the Korea Football Association and the Korean national football team. "Hana Bank will continue to support the Korea Football Association and the national football team. We have been together during important moments in our soccer history such as the time when our national football team reached the round of 16 matches in the FIFA World Cup in Qatar last year," Hana Financial Group Chairman Ham Yo

강성부 대표가 이끄는 행동주의 펀드 KCGI가 Korea Corporate Governance Improvement Fund에서 Korea Climate & Governance Improvement Fund로 사명을 변경한다. 영문 이니셜은 그대로이지만 중간에 들어가는 C가 기업을 의미하는 ‘corporate’에서 기후를 의미하는 ‘climate’으로 바뀐다. 임현철 부대표는 최근 코리아헤럴드와의 인터뷰에서 “사명 변경은 메리츠자산운용 인수가 완료된 후 7월쯤 이루어질 것”이라며 “지배 구조 개선뿐만 아니라 기후 변화에 대한 목소리를 내는 행동주의 펀드로 성장하겠다는 의지를 반영하고 있다"라고 설명했다. 그는 “앞으로 기후변화 대응이 매우 중요한 투자 요인이 될 전망이고 자금도 많이 쏠릴 것”이라고 덧붙였다. 〈원문기사〉 [Herald Interview] K

South Korean private equity house Korea Corporate Governance Improvement’s Managing Partner Lim Hyun-chol said the performance of activist funds should not be judged by the time frame of their investments. “The significance lies not in the length of the investment period but rather in the actual changes brought about in the company after the activist fund's calls,” Lim said during a recent interview with The Korea Herald. “We see that it is unfair to accuse us of &

A restaurant worker carries naengmyeon, or cold noodles, as she delivers it to customers in Myeong-dong, Seoul, on Monday. According to a survey conducted by Korean Price Information, a research institution, on the prices of naengmyeon in 10 representative restaurants across 10 different areas of Seoul, the average price of naengmyeon has increased by 7 percent compared to last year and by 29.5 percent compared to 2018. (Yonhap)

Korea's top financial regulator announced that regulatory revisions made to support the overseas expansion of Korean financial companies will be unveiled in July, during a conference organized by Financial Services Commission on Monday at the Korea Federation of Banks building in Seoul. The Financial Services Commission has announced that the regulatory changes will be made based on extensive discussions held during a series of conferences and seminars with insiders from the local financial

KakaoBank, South Korea's largest internet-only bank, is seeking to obtain a virtual bank license in Thailand by partnering with a leading financial group in the country, making its first move after announcing its plan for business expansion into Southeast Asian economies. The Korean digital lender announced on Friday that it has signed a memorandum of understanding with SCBX, Thailand's financial technology group, to obtain a license to run a digital banking platform from the central b

NongHyup Bank announced Thursday that the nation’s top three banks -- Industrial Bank of Korea, Shinhan Bank and Woori Bank -- have joined its consortium for security token offerings formed in April. Aside from the lenders, other financial tech firms, including real estate fractional investment company Funble, fintech firm Aton’s subsidiary Trackchain and Artipio, a fractional art investment subsidiary of culture platform operator Yes24, also joined the consortium to increase the tot

Philippe Van Hoof, the head of ING Korea, has been appointed as the new chairperson of the European Chamber of Commerce in Korea, according to the European business lobby group on Thursday. Van Hoof will lead the business lobby group until early 2025, taking over from Dirk Lukat, CEO of Schenker Korea, who concluded his third term ahead of schedule as he is preparing for his career outside Korea, according to ECCK. Since August 2021, Van Hoof has held the position of country manager at ING Bank

Total employment in South Korea reached 28.83 million in May, up 351,000 from a year earlier, data from Statistics Korea showed Wednesday. It was the second consecutive month that the nation’s on-year job growth increased, though the growth rate slowed slightly. Since the beginning of this year, the on-year monthly employment rate has been fluctuating in the range of about 300,000 to 400,000 individuals. In February, there were 312,000 more on-year employed individuals, and the figure peak

More than a year has passed since Samsung's financial affiliates launched the comprehensive service app Monimo together, but unfortunately, it has fallen short of market expectations. Under the brand Samsung Financial Networks, Monimo offers services from four Samsung financial affiliates: Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Securities and Samsung Card. With these affiliates' apps having a total user base of over 25 million — estimated without ove

KB Financial Group, the leading financial services provider in South Korea, said Sunday it has signed a memorandum of understanding with Japanese insurance giant Sompo Holdings with an aim to facilitate collaboration in developing customized nursing care services. The signing ceremony was held at Sampo’s headquarters in Tokyo on Thursday, with KB Financial Chairman Yoon Jong-kyoo and Sampo Holdings Chairman Sakurada Knego in attendance. Sompo Holdings is Japan's largest insurance grou

Finance Minister Choo Kyung-ho on Thursday predicted South Korea’s trade balance is highly likely to turn surplus as early as in the fourth quarter, citing a rebound in chip prices and China’s reopening. "In April, the trade balance was not favorable due to overseas dividend issues, but I believe that after May, it will improve," Choo said at a press conference hosted by the Kwanhun Club, an association of Korean journalists, in Seoul. "Considering this trend of decrea

Upon entering the interview room, Riccardo Puliti, the regional vice president for Asia and the Pacific at the International Finance Corporation, underscored that this is his third visit to Korea within the past eight months. “I was here in November, I was here in February, and I will be back here in September. It is evident that Korea is evolving into a prominent center for sustainable cross border investment,” he said during an interview with The Korea Herald on May 25 at the IFC K

China, which has been South Korea's dominant export destination for almost two decades, is currently facing a challenge to its longstanding position. According to a report by the Korea International Trade Association, Korea's reliance on exports to China has steadily declined from 26.8 percent in 2018 to 22.8 percent last year. In the first quarter of this year, it dropped even further to 19.5 percent. The Ministry of Trade, Industry and Energy report on Tuesday also showed that the decline in e