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Citigroup CEO to outline digital, sustainable growth vision at APEC 2025
Jane Fraser, chair of the board and CEO of Citigroup, will deliver a keynote speech titled “The Next Roadmap for the Global Economy” at the APEC 2025 CEO Summit on Friday. Her address will examine how financial connectivity, digital innovation and sustainable investment can serve as pillars of a more resilient and inclusive global economy. Fraser is expected to share her insights on the need for digital talent development, cross-border infrastructure investment and the expansion of ESG financing
Oct. 27, 2025 -
Finance chief emphasizes stronger cooperation with Latin America in AI, minerals, clean energy
Finance Minister Koo Yun-cheol on Monday called for closer cooperation between South Korea and Latin American countries in artificial intelligence, critical mineral supply chains and clean energy, among other areas. Koo made the remarks while opening the seventh Korea–Latin America and the Caribbean Business Summit in Seoul, as South Korea marks the 20th anniversary of its membership in the Inter-American Development Bank. "Now is the time for Korea and the LAC region to deepen our strategic par
Oct. 27, 2025 -
Bank deposits fall, overdraft loans rise amid rush for real estate and stocks
Bank deposits in South Korea have been shrinking rapidly, with households also increasingly boosting their overdraft loans to secure funds for investments amid surging real estate and stock prices, data showed Sunday. Combined demand deposits at five major lenders -- KB Kookmin, Shinhan, Hana, Woori and NH NongHyup -- stood at 649.53 trillion won ($451.3 billion) as of Thursday, down 20.19 trillion won from the end of September, according to data from the banks. This represents an average daily
Oct. 26, 2025 -
Kospi breaks record as US-China summit plans soothe trade worries
Korea’s benchmark Kospi jumped back above the 3,900 mark Friday, hitting a fresh intraday record as investors welcomed news that Washington and Beijing have officially confirmed the date of their anticipated summit. The index rose as much as 1.83 percent to 3,915.84 in early trading, before easing slightly to 3,897.9 as of 10:25 a.m. The rally came after the White House announced that US President Donald Trump will meet Chinese President Xi Jinping in Korea on Oct. 30, a day after talks with Pre
Oct. 24, 2025 -
BOK keeps rate steady amid currency, property concerns
The Bank of Korea's monetary policy board held its base interest rate steady at 2.5 percent for the third consecutive meeting due to uncertainties surrounding the heated property market and the weakening valuation of the local currency. The won further dipped to its weakest level since April during Thursday's trading. The rate freeze was supported by five out of six members of the monetary policy board, excluding BOK Gov. Rhee Chang-yong, whose individual vote is not disclosed. One of the six me
Oct. 23, 2025 -
Lee says he trusts US 'rationality' amid final push for tariff deal
President Lee Jae Myung said he trusts in the “rationality” of the United States as South Korea and Washington seek to wrap up months of negotiations over a $350 billion investment package and related tariff talks before next week’s APEC summit in Korea. “I believe it is taking some time,” Lee said in an interview with CNN aired Thursday. “I also believe in the rationality of the United States, and so I believe that we will be able to reach a rational agreement.” Lee expressed confidence that th
Oct. 23, 2025 -
Georgia’s ambassador, leading economist examine global shifts at Global Biz Forum
At the 8th edition of the Global Biz Forum, themed “Big: Designing the Future,” business leaders gathered in Seoul to discuss the forces shaping the global economy and the future of international cooperation. Operated jointly by The Korea Herald and Herald Business, the GBF has grown into a platform for dialogue among Korea’s influential figures in diplomacy, business and culture. The weekly forum continues to host high-profile speakers from Korea and abroad, fostering cross-sector conversations
Oct. 23, 2025 -
BOK keeps rate steady at 2.5%
The Bank of Korea held its base interest rate steady at 2.5 percent for the third consecutive meeting due to uncertainties surrounding the property market and the valuation of the local currency. With the latest decision, the rate has remained unchanged for the past five months, following cuts in February and May. The move reflects the central bank’s cautious stance amid lingering uncertainties in the heated real estate market. “The BOK has no intention of fueling the real estate market by injec
Oct. 23, 2025 -
Nuclear safety watchdog set to decide on 10-year extension for Kori-2 reactor
The country's nuclear safety watchdog is set to decide Thursday whether to extend the lifespan of the 42-year-old Kori-2 nuclear reactor by an additional 10 years. The Nuclear Safety and Security Commission plans to hold a meeting to review a request to restart and operate the 650-megawatt lightwater reactor, which has reached beyond its initial 40-year license. The Korea Hydro and Nuclear Power Co., the state-run power operator, has asked the NSSC to approve a life extension that would allow th
Oct. 23, 2025 -
Why Korea is reviving property tax hike debate
The Korean government is raising the prospect of increasing property-holding taxes, as policymakers confront renewed signs of housing speculation, rising prices and a shortage of listings despite a series of tightening measures. The discussion resurfaced Tuesday after President Lee Jae Myung warned that “all available policy tools” must be mobilized to curb “unproductive speculative demand,” signaling a tougher stance on real estate before key local elections in June. The shift reflects growing
Oct. 22, 2025 -
Bangladesh invites Korean investors
Bangladesh invited Korean companies to invest in Bangladesh in Seoul on Monday. At the ‘Gateway to Growth: Invest in Bangladesh’ seminar attended by over 150 Korean business leaders, organizers highlighted Bangladesh’s investment potential in key industries. The event was part of a broader mission led by Bangladesh Investment Development Authority Chair Ashik Chowdhury with officials from Bangladesh's National Board of Revenue, Bangladesh Economic Zones Authority and the banking sector. Chowdhur
Oct. 22, 2025 -
S. Korea's finance chief calls for AI-driven prosperity across APEC
South Korean Finance Minister Koo Yun-cheol on Wednesday outlined his vision to promote prosperity across Asia-Pacific Economic Cooperation member economies through innovation centered on artificial intelligence. Koo made the remarks during a joint session on the second day of the APEC Finance Ministers' Meeting, held in the western port city of Incheon. Finance ministers or minister-level officials from the 21 APEC member nations gathered here from Tuesday for the three-day conference under the
Oct. 22, 2025 -
Intl. drill on supply chain crisis response to be held in S. Korea
South Korea is set to host a joint drill on responding to a possible global supply chain crisis Wednesday, the industry ministry said, amid the growing importance of critical minerals in key industries. The joint exercise of the Crisis Response Network will be held to boost cooperation among CRN members and enhance their capabilities in jointly responding to possible supply chain disruptions in the Indo-Pacific region, according to the Ministry of Trade, Industry and Resources. South Korea curre
Oct. 22, 2025 -
Govt. to extend fuel tax cut by another 2 months until Dec.
South Korea will extend its fuel tax cut for an additional two months through the end of December in a bid to ease the financial burden on consumers amid ongoing volatility in global oil prices, the finance ministry said Wednesday. Under the latest extension, the current tax reductions -- 10 percent on gasoline and 15 percent on diesel and liquefied petroleum gas -- will be adjusted to 7 percent for gasoline and 10 percent for diesel and LPG, according to the Ministry of Economy and Finance. The
Oct. 22, 2025 -
Producer prices rebound in Sept. on higher fresh produce prices: BOK
South Korea's producer prices rose in September, led by higher prices of agricultural and livestock products, and the expiration of temporary cuts in mobile phone and household electricity bills, central bank data showed Wednesday. The producer price index, a key barometer of future consumer inflation, gained 0.4 percent on-month to 120.54, according to preliminary data from the Bank of Korea. Compared with a year earlier, producer prices increased 1.2 percent, extending their on-year rise for t
Oct. 22, 2025