• S. Korean PM appeals to BIE members to award 2030 Expo to Busan

    Prime Minister Han Duck-soo on Tuesday appealed to members of the Bureau International des Expositions (BIE) to award the 2030 World Expo to the southern city of Busan. Han delivered a presentation on South Korea's bid to host the expo at the 171st General Assembly of the BIE, an intergovernmental body in charge of overseeing the Expo, in Paris. By hosting the expo, South Korea will share its "unique growth experience and develop international cooperation in overcoming human problems t

  • Top diplomats of S. Korea, Bahamas hold talks in Seoul

    The top diplomats of South Korea and the Bahamas held talks in Seoul Tuesday on bilateral ties and cooperation on the international stage, Seoul's foreign ministry said. During the meeting with his Bahamian counterpart Frederick Mitchell, Foreign Minister Park Jin expressed hopes to enhance bilateral ties based on their continued cooperation in the economy and humanitarian support among other areas, according to the ministry. Park also requested support from the Bahamas for the enhancemen

  • [Today’s K-pop] Red Velvet’s EP tops iTunes chart in 44 regions

      Red Velvet’s new EP landed atop the iTunes top albums chart in 44 regions. EP “The ReVe Festival 2022 – Birthday” came out on Monday and swept up charts at home as well. All five songs from the EP hogged top spots on some of the domestic music charts. The album is the second installment from “The ReVe Festival 2022” series and sold more than 710,000 copies in preorders, a record for the group. The previous EP, “The ReVe Festival 2022 – Feel

  • [Global Finance Awards] ‘Invigorating the economy with creative, innovative financial engineering models’

    By Yoo Chang-jo Professor of marketing at Dongguk University The Korea Herald presents the Global Finance Awards upon recognition that, for the Korean economy to grow in this age of cutting-edge technology, it is essential to build a financial ecosystem that meets global standards and raises the competitiveness of the country’s financial industry. The purpose of these awards is to encourage financial institutions that continue to challenge themselves and innovate to provide better financ

  • [Land of Squid Game] Respecting the opinion of elders in making decisions

    Children in Korea think of themselves with their parents, immediate family members, and grandparents as a single unit. Children are raised to have the utmost respect for their parents and grandparents throughout their lives, so when it comes to making important life decisions, the opinion of their parents and grandparents is taken seriously. While some cultures might value independence more and see this as interfering in personal decisions, for Koreans it's a critical part of what makes them

  • [Global Finance Awards] Kyobo Life Insurance tops sustainability ranking for 13 straight years

    Kyobo Life Insurance has been continuously incorporating sustainable development concepts into its business strategies and the effort has been acknowledged in an industry-wide index for its socially responsible efforts. The firm topped the 2022 Korean Sustainability Index among local insurance companies on Thursday, marking its 13th consecutive year of securing the top place since 2010. The KSI is a standard for measuring corporate sustainability based on ISO 26000, a global social...

  • [Global Finance Awards] SC Bank Korea accelerates sustainable management drive

    Standard Chartered Bank Korea has become the only commercial bank in South Korea to receive an A+ rating in corporate governance for four consecutive years, the firm said. The latest A+ rating was given last week by the Korea Institute of Corporate Governance and Sustainability, an expert nonprofit group founded in 2002 that carries out ESG evaluations and policy research. “A healthy corporate governance system is the foundation of what makes sustainable management possible, and it is the

  • All 663 objections for Suneung questions dismissed

    The Korea Institute of Curriculum and Evaluation confirmed Tuesday that all 663 objections to the 2023 Suneung questions and answers were dismissed. The KICE received a total of 663 objections from Nov. 17 to 21 and among them, 215 and 127 were complaints related to an English listening question and the 23rd question, respectively. The complaints alleged that question No. 23 was almost the same as a question in a mock test provided by a lecturer at a famous private school. "It was not about

  • [Global Finance Awards] KB Kookmin Bank increases accessibility for disabled

    KB Kookmin Bank has been bolstering the accessibility of its branches for people with disabilities in the first half of 2022, as part of its initiative focusing on diversity and inclusivity. The bank said it surveyed 878 of its branches nationwide in June, measuring each facility’s readiness to greet disabled customers. Based on the survey, the bank installed ramps at the entrances of branches that lacked them. It also put a bell in place that customers could press for assistance, accordin

  • [Global Finance Awards] Woori Financial Group ready to lead future global financial market

    After gaining momentum from structural changes and the privatization process in recent years, Woori Financial Group has been actively making changes to become the global leader of the future financial market. The most evident change was made recently in November when the group launched a new Data Intelligence department with a goal to pursue development in areas of data and artificial intelligence. At the beginning of this year, the group also announced its goal to increase its combined monthly

  • [Global Finance Awards] Mirae Asset Securities stands tall against global peers

    Mirae Asset Securities became the first in the Korean financial services and investment management industry to post an operating profit of more than 1 trillion won ($754 million) and over 10 trillion won in owned capital last year. It was a dream come true moment for Mirae Asset Group Chairman Park Hyun-joo who said the company will “open an era of 1 trillion won in operating profit and 10 trillion won in owned capital” as it acquired Daewoo Securities in 2016. Having started with a

  • [Global Finance Awards] Mirae Asset Global Investment solidifies int'l market presence

    Marking its 19th anniversary of its overseas business operations this year, Mirae Asset Global Investments has earned many titles as a first mover in the global asset management market. The investment firm kicked off its global business in Dec. 17, 2003, when it established a district office in Hong Kong. This foray came six years after the firm was established. Since then, Mirae Asset Global Investments has come a long way. The company has offices in 36 countries and invested more than half o