Hong Kong Monetary Authority

Energy South Korea nears Czech nuclear deal; Doosan, related stocks fly high

South Korea’s nuclear energy stocks surged this week as momentum builds around a landmark nuclear power project in the Czech Republic, with in...

Electronics LG Electronics hits record sales in India, paving way for 2025 IPO

LG Electronics Inc. posted its largest-ever sales in India in 2024, providing a boost to the planned initial public offering of its Indian unit this...

Business & Politics Woori Financial CEO Yim Jong-yong should stay for governance: FSS chief

Woori Financial Group Chief Executive and Chairman Yim Jong-yong should keep his post through to the end of his term and lead the banking group&rsqu...

Private equity Hong Kong-based PEF Affinity Equity to acquire control of Lotte Rental

Affinity Equity Partners, a Hong Kong-based investment firm, will acquire a controlling stake in South Korea’s No. 1 car rental and leasing co...

Economy S.Korea's foreign reserves amount to $415.4 bn in Nov

South Korea's official foreign reserves at the end of November amounted to $415.4 billion.According to the Bank Of Korea (BOK) on Wednesday, the nat...

Economy State-run think tank KDI slashes GDP forecast, urges BOK to cut rates

The Korea Development Institute (KDI), South Korea’s state-run think tank, has slashed its forecasts for the country’s economic growth f...

Short selling S.Korea mulls fines on Barclays, Citi for short-sale violations

South Korea’s financial authorities are considering fining British multinational investment bank Barclays plc and US investment banking group ...

Economy Korea’s household debt sees ‘balloon effect’ as rules tightened in Seoul

South Korea’s household lending market is witnessing a balloon effect as tighter government lending rules for Seoul and its surrounding metrop...

Regulations Heavy inheritance, gift taxes spur rich Koreans to emigrate to Singapore

A South Korean co-CEO of a blockchain investment firm with hundreds of millions of dollars in assets moved to Singapore last year to avoid the North...

Banking & Finance India offers Korean firms detailed guidance for forays into India

India’s finance ministry, central bank and stock market operator outlined the country’s regulatory and investment environment for South ...

Machinery Hyundai Rotem to supply additional rail cars to Boston

South Korea's Hyundai Rotem Co. announced on Friday that it signed a contract with the Massachusetts Bay Transportation Authority (MBTA) to supply a...

Banking & Finance Activist fund KCGI to buy Hanyang Securities for $180 mn

South Korean private equity firm KCGI Co. is expected to acquire local brokerage house Hanyang Securities Co. for 244.9 billion won ($179.8 million)...

E-commerce S.Korea fines AliExpress $1.4 mn for alleged privacy breach

South Korea’s privacy authority is punishing AliExpress with measures including a $1.4 million fine for allegedly not providing measures to pr...

Travel & Leisure Lotte Tour to operate cruise to Hong Kong

South Korea's Lotte Tour Development Co. announced on Tuesday that it signed a charter agreement with global cruise line Costa Cruises to operate a ...

Food & Beverage Pulmuone's Tofu Bar sold 70 mn units in Japan

Asahiko, the Japanese subsidiary of South Korea's Pulmuone, announced on Friday that its protein snack Tofu Bar has sold more than 70 million units ...

Economy Korean banks raise mortgage rates despite looming rate cut

South Korean banks are raising mortgage rates again as the government strives to curb household debt growth that grew at its sharpest pace in three ...

Insurance Kyobo Lifeplanet, FWD Hong Kong to collaborate on GenAI

South Korea's Kyobo Lifeplanet Life Insurance Co. announced on Friday that it signed a memorandum of understanding with Hong Kong-based insurer FWD ...

Corporate governance Woori adopts Samsung culture index for internal controls

Woori Financial Group has adopted Samsung Electronics Co.'s Samsung Culture Index (SCI) to tighten its internal controls, which will be given more w...

Foreign exchange Korea FX authorities, NPS raise currency swap limit to $50 bn

South Korea’s National Pension Service (NPS), the world’s third-largest pension fund, said on Friday it has agreed with foreign exchange...

Banking & Finance Hana Securities services S.Korean stock investment in Hong Kong

South Korea's Hana Securities announced on Tuesday that it launched a service allowing Hong Kong investors to open its accounts through Hong Kong's ...

Korean games Line Games to launch The Play of Genesis in Taiwan, Hong Kong

South Korea's Line Games Corp. announced on Friday that it signed a publishing agreement with Vietnam's tech giant VNG for the mobile game The Play ...

Corporate investment Shinhan, POSCO invest $20 mn in Australian hydrogen startup Hysata

South Korean steel giant POSCO Holdings Inc. and banking conglomerate Shinhan Financial Group have invested a combined US$20 million in Australian g...

Airlines Jin Air to resume Incheon-Hong Kong route in July

South Korea's low-cost carrier Jin Air announced on Friday that it will resume flights on the Incheon to Hong Kong route on July 18.This marks the r...

Banking & Finance Korean brokerages' foreign profits up on IB, bond trading

South Korean brokerage firms expanded their net profits from overseas operations last year, backed by increased gains from their investment banking ...

Petrochemicals HD Hyundai Oilbank to supply ultra-low sulfur diesel to Guam

HD Hyundai Oilbank Co., South Korea’s refiner backed by Saudi Aramco, announced on Wednesday that it secured a contract to supply 7.2 million ...

Fashion Chanel to open after-sales service center in Seoul

French luxury label Chanel is planning to open a dedicated after-sales service center in South Korea, one of the world’s largest markets for h...

Private equity Hahn & Co. overhauls Namyang board, ending family control

Private equity firm Hahn & Co. on Friday won shareholder approval to replace Namyang Dairy Products Co.'s board of directors with Hahn's executi...

Korean games Netmarble Arthdal Chronicles pre-registration surpasses 1 mn

South Korean game developer Netmarble Corp. said on Tuesday that the pre-registration of its upcoming massively multiplayer online role-playing ga...

Corporate governance Lotte Group to give more authority to outside directors

Food-to-retail conglomerate Lotte will expand the authority of outside directors by separating the roles of chief executives and board chairs at its...

Retail Coupang launches direct purchase service to Japan

Coupang Inc., South Korea's leading e-commerce platform, announced on Monday that it is expanding its overseas direct purchase service, "Rocket Jikg...