South Korean construction giant HDC Group on Friday named Jung Kyung-koo, CEO of HDC, the group’s holding unit, as the new CEO of its flagship construction unit HDC Hyundai Development Company in its year-end leadership reshuffle. Jung, 59, is a financial specialist who majored in law at Seoul National University and started his career at Shinhan Investment Securities. At HDC, he has served in diverse leadership positions, including head of management planning and chief finance officer at

South Korea’s stock market was already on fragile ground before President Yoon Suk Yeol’s unexpected martial law declaration further undermined the government’s yearlong push to boost corporate value. Foreign investors sold a net 200 billion won ($141 million) on the benchmark Kospi within the first two hours of Thursday’s trading, extending the 400 billion won offloaded the previous day after the six-hour martial law announcement. As of 3 p.m., foreign investors had dump

Shinhan Financial Group has embarked on a large-scale CEO reshuffle by recommending new candidates for the top positions of nine out of 13 affiliates on Thursday. Jung Sang-hyuk, the 60-year-old CEO of the group’s flagship lender Shinhan Bank, was reappointed for his second term, which will last two years. The personnel changes were focused on three pillars -- improving the organizational structure through high-intensity personnel reform, accelerating the implementation of a consistent f

Six hours of unexpected martial law have rattled local markets, with volatility expected to persist despite the lifting of the emergency measure. In response to potential aftershocks, local authorities have pledged comprehensive actions to ensure normal operations and stabilize volatility, including the government's commitment to injecting "unlimited liquidity." "The foreign exchange market and overseas trading of Korean stocks, unsettled by last night’s martial law dec

Shinhan Financial Group marked the 10th anniversary of its tech startup support program, Shinhan Future's Lab, with a gathering in Seoul on Monday. Chairman Jin Ok-dong hosted an alumni meeting of the decade-long program, under the theme "Run To:gather." Participants shared their experiences and celebrated companies that have successfully partnered with the group and its subsidiaries on Shinhan's digital initiatives through an awards ceremony. Since its launch in 2015, the Fu

South Korean stocks opened lower Friday, led by declines in big-cap tech shares amid concerns about an economic slowdown. The benchmark Korea Composite Stock Price Index (Kospi) shed 32.29 points, or 1.29 percent, to 2,472.38 in the first 15 minutes of trading. The country's industrial output, retail sales and facility investment all fell on-month in October, deepening concerns about a lack of growth momentum, government data showed. Presenting a bleak growth outlook for 2025, the Bank of K

KB Financial Group’s decision to name its insurance unit head as the next CEO of KB Kookmin Bank has shown its willingness to optimize synergies among pan-KB affiliates. The CEO recommendation committee of KB Financial Group recommended that KB Life Insurance CEO Lee Hwan-ju lead KB Kookmin Bank on Wednesday. “We recommended Lee as a final candidate who can stably pursue substantial growth and drive consistent improvement in corporate and shareholder value through structural improv

South Korean stocks opened a tad lower Thursday, tracking overnight losses on Wall Street led by declines in big-cap tech shares. The benchmark Korea Composite Stock Price Index (Kospi) shed 3.05 points, or 0.12 percent, to 2,500.01 in the first 15 minutes of trading. Foreigners were on a selling mode, which offset buying by institutions and retail investors. Overnight, the Dow Jones Industrial Average fell 0.31 percent and the tech-heavy Nasdaq composite slid 0.6 percent as major tech shares lo

Shinhan Financial Group is intensifying efforts to enhance its corporate value, with Chairman Jin Ok-dong leading initiatives both domestically and internationally. In November, Jin attended a joint investor relations event in Hong Kong, organized by South Korea's Financial Supervisory Service, following a similar event in New York in May. He presented Shinhan's corporate value enhancement plan, outlined strategies for strengthening South Korea's capital market, and discussed glob

By Nurgali Arystanov Ambassador of the Republic of Kazakhstan to the Republic of Korea Kazakhstan is emerging as a key investment destination in its region, consistently attracting substantial foreign direct investment (FDI) since its independence in 1991. With over $431 billion in FDI to date, driven by investors such as the Netherlands, the US and Switzerland, Kazakhstan is emerging as a promising landscape for foreign companies, including those from South Korea. This robust economic relations

South Korean stocks fell Tuesday as investors sat on the sidelines following sharp gains the previous session, with US President-elect Donald Trump vowing tariffs on imports from Canada, Mexico and China. The local currency rose against the US dollar. The benchmark Korea Composite Stock Price Index shed 13.98 points, or 0.55 percent, to close at 2,520.36, ending a two-day winning streak. Trade volume was moderate at 434.77 million shares worth 8.51 trillion won (US$6.09 billion), with winners ou

South Korean stocks opened lower Tuesday, despite overnight U.S. rallies, led by losses in auto and financial shares. The benchmark Korea Composite Stock Price Index shed 11.04 points, or 0.44 percent, to 2,523.30 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average surged 0.99 percent to a record high and the tech-heavy Nasdaq Composite rose 0.27 percent, as investors welcomed Trump's nomination of Scott Bessent as his treasury secretary on hope that he would gui

South Korean banks will head to Las Vegas next January for CES 2025, with some set to showcase their latest artificial intelligence-driven financial technologies at the world’s largest consumer electronics event. Among the participants will be Shinhan Bank, returning for a third consecutive year to host its own booth at the global expo. This year, the bank will highlight two of its newest innovations -- "AI Investment Mate" and "AI Branch." "AI Investment Mate,&quo

Shinhan Life, the life insurance arm of Shinhan Financial Group, has partnered with US-based asset management firm Apollo Global Management. The South Korean insurer announced Monday that the two firms signed a memorandum of understanding to enhance Shinhan Life's asset management capabilities and secure diverse investment opportunities using Apollo's specialized investment platform and advisory services while bolstering Apollo's presence in Korea. The partnership will include a

Woori Bank CEO Cho Byung-kyu is stepping down in disgrace as legal risks surrounding the bank and its parent group intensify. According to industry sources on Sunday, the board of Woori Financial Group, the holding company of Woori Bank, on Friday decided against reappointing Cho following the expiration of his current term at the end of this year. The decision came hours after local prosecutors filed an arrest warrant for former Woori Financial Chairman Son Tae-seung on charges of breach of tru