Articles by Park Han-na
Park Han-na
hnpark@heraldcorp.com-
More women break glass ceiling on financial group boards
South Korean financial groups have undergone a transition in their board composition, indicating governance changes centering on gender diversity and internal control. Given that a financial holding company’s board is the ultimate decision-making body engaging in establishing management strategies and budget planning for itself and its affiliated banking and securities units, the changes give a glimpse of the future direction that the groups are pursuing. Here are the key takeaways from
Companies April 1, 2024
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[Hello India] Korean institutional investors up appetite for Indian market
Korean institutional investors are pumping money into the Indian market to avail opportunities from the fastest-growing major economy’s robust domestic demand and infrastructure projects. With estimates suggesting the economy could expand by 7 to 8 percent this year and the Indian government's policies designed to revive the manufacturing industry, including the "Make In India" program, the country has emerged as an investment destination for foreign investors. As large inve
Market March 27, 2024
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New parents to get greater chance at buying home
Housing supply measures, encompassing both the public and private sectors, revised to favor households with newborns came into effect Monday, with the intention to lower the burden of high housing costs as one of the factors pulling down the country’s fertility rate to the world's lowest level. Starting from Monday, households with a child younger than 2 years old, including those with an adopted child or expectant mother, will be eligible to apply for a specialized and prioritized ho
Economy March 25, 2024
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SK chief wins 2nd term as KCCI chair
SK Group Chairman Chey Tae-won was elected to head the Korea Chamber of Commerce and Industry, the nation's largest business lobby, for a second term, vowing to make more policy proposals to bring about disruptive innovation across industries. Chey was sworn in as the 25th chair of the KCCI after earning unanimous support from regional chamber leaders at the extraordinary general meeting held in Seoul on Thursday. He will serve his new three-year term until March 2027. In his inaugural re
Industry March 21, 2024
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New marriages bounce back buoyed by international couples
One in 10 couples who tied the knot in South Korea last year included a partner of foreign nationality. The growing number of international marriages helped the total number of newly married couples last year to rebound for the first time in 12 years. The number of international marriages stood at 19,700 in 2023, taking up 10.2 percent of the total number of newlywed couples -- 193,700 -- tallied last year, according to Statistics Korea on Tuesday. The number of international marriages grew by 1
Economy March 19, 2024
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Trump unlikely to unravel IRA: experts
Korean businesses are unlikely to face a massive challenge by possible shift in US trade policies resulting from the 2024 US presidential election but they should get ready for small hiccups, experts on international trade said on Monday. “From the US perspective, Korean companies are very important partners in trade and investment. … Since the Korea-US Free Trade Agreement has been revised in a way that satisfies US constituencies, there may be hiccups (in the trade relationship) a
Economy March 18, 2024
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NPS to set up San Francisco office in AI, biotech push
Korea's National Pension Service Investment Management, the investment arm of the world's third-largest pension fund, will launch its fourth overseas office in San Francisco before September, in line with its asset allocation strategy to raise alternative and overseas investments. National Pension Service Chief Investment Officer Seo Won-joo boasted that the pension fund’s record high investment return of 13.6 percent, worth 127 trillion won ($96.4 billion), last year is &ldquo
Market March 14, 2024
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DGB opens fund management unit in Singapore
DGB Financial Group said Wednesday it launched its first overseas subsidiary Hi Asset Management Asia, an asset management arm, in Singapore. DGB Financial Group Chairman Kim Tae-oh, Korean Ambassador to Singapore Hong Jin-wook as well as financial firm officials from Morgan Stanley, Goldman Sachs and Keppel Group were in attendance at the opening ceremony held on Tuesday. “We will spare no effort in helping HiAMA serve as a global headquarters for key financial players and groups in Singa
Market March 13, 2024
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Bank association chief expresses regret over HK ELS misselling
Korea Federation of Banks Chair Cho Yong-byoung on Monday expressed regrets over massive losses inflicted on consumers who invested in derivatives products underlying a key Hong Kong stock market index, sold by local lenders. Earlier in the day, the country’s regulator Financial Supervisory Service advised banks and securities firms to compensate for losses incurred from their incomplete sales of equity-linked securities products tracking Hong Kong's H Index. The total loss on such
Market March 11, 2024
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[KH Explains] Missing pieces of 'value-up' program
The government’s measures aimed at increasing shareholder returns to boost Korea's undervalued stock market have sparked much debate on their effectiveness due to the lack of motivational drivers for companies to join the program. In the Corporate Value-up Program announced by the Financial Services Commission on Feb. 26, the government directed some 1,600 firms listed on the Kospi and Kosdaq markets to disclose their major investment indicators such as price-to-book ratio, and make p
Market March 10, 2024
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JB acquires stake in Vietnam's fintech app Infina
JB Financial Group on Thursday said it will acquire a minority stake in Vietnam’s retail investing app Infina, in a bid to help the group’s securities affiliate expand its customer base in the Southeast Asian country. In a strategic partnership deal, the group will buy 3.9 percent of Infina's shares and increase its holdings to some 5 percent depending on the results of collaboration between its brokerage unit JB Securities Vietnam and Infina. JB Securities Vietnam, based in H
Industry March 8, 2024
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Korean firms eye chances in net zero, global market: ChatGPT report
The global transition to net zero will be a boon for companies in renewable energy and secondary batteries, while supply chain restructuring will challenge Korean chipmakers, according to data analysis released Wednesday by the Korea Chamber of Commerce and Industry. The business group released a report on opportunities and risk factors that Korean firms expected this year by analyzing 2024 management messages from the top 100 listed companies using ChatGPT. The opportunity factors for Korean
Industry March 6, 2024
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SK chief to lead KCCI for 2nd term
SK Group Chair Chey Tae-won is set to serve as chairperson of the country’s business organization Korea Chamber of Commerce and Industry for another term. On Thursday, members of the Seoul Chamber of Commerce and Industry unanimously agreed to tap Chey as chair of the regional chamber under the KCCI for a three-year term that ends in February 2027 during a general meeting of members held in Seoul. With Seoul members’ backing, Chey, whose first term expires in March, is on the course
Industry March 1, 2024
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Woori, UAE’s Mubadala seek to bolster ties
South Korea’s major banking holding firm Woori Financial Group and Abu Dhabi sovereign wealth fund Mubadala Investment Company took the first step toward partnership as their subsidiaries signed a deal for joint efforts in discovering global investment opportunities. Woori Venture Partners, the venture capital unit of the Korean conglomerate, and Mubadala Capital, the asset management subsidiary of Mubadala, signed a memorandum of understanding for their strategic cooperation in Abu Dh
Companies Feb. 28, 2024
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Toss Bank taps ex-DGB CFO as new CEO
Toss Bank, the internet-only banking arm of fintech firm Viva Republica, said Wednesday it has appointed Rhee Eun-mi, former chief financial officer of DGB Daegu Bank, as its new CEO. The bank’s CEO recommendation committee picked Rhee as the sole candidate for the next top leadership position in recognition of her deep understanding of the banking industry and excellence in making strategic decisions. “Rhee's achievements, organizational management capabilities, and insight b
Market Feb. 21, 2024
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