Most Popular
-
1
Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
-
2
Second Gimpo civil servant found dead, after apologizing for not finishing work
-
3
First-ever meeting of president, opposition chief set to finally happen
-
4
Blinken calls on China to press N. Korea to end its 'dangerous' behavior
-
5
NewJeans' singles, Japanese debut to proceed as planned, despite Hybe-Ador feud
-
6
Experts raise concerns about Japan putting pressure on Naver over Line
-
7
Samsung mobile chief, Google device head meet in Seoul
-
8
South Korea to launch space security center under spy agency
-
9
More med professors to take day off each week while govt. urges them to stay
-
10
Hybe refutes Ador CEO Min's denial of breach of trust
-
Lotte Insurance denies rumors of self-delisting plan
Lotte Insurance said Friday that it would not consider delisting itself from the country’s main bourse Kospi, refuting rumors by some local media reports. Followed by the nation’s sole bourse operator’s call for explanation on the delisting rumors, the insurance firm made its official announcement via DART -- the Financial Supervisory Service’s electronic disclosure board. “This is to confirm that we are not considering to be delisted from the local market,&rdquo
Sept. 25, 2020
-
Seoul stocks open higher on US tech rebound
South Korean shares opened higher Friday, tracking overnight gains on Wall Street helped by a US tech rebound. The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.68 points, or 0.56 percent, to 2,285.38 in the first 15 minutes of trading. The index got off to a strong start after a 2.59 percent plunge the previous session. Stocks lifted despite uncertainties from the US presidential election in November, thanks to a rebound in tech heavyweights, such as Apple and Microsoft
Sept. 25, 2020
-
Standard Chartered CEO says S. Korea has potential to be Asia’s financial hub
London-based Standard Chartered Group CEO Bill Winters said South Korea has the potential to rise as Asia’s key financial hub in a meeting with the head of the financial regulator here, the lender’s Korean subsidiary said Thursday. “(Financial Services Commission Chairman Eun Sung-soo and Winters) agreed on the potential of Seoul as Asia’s financial hub given the size of the Korean economy and Korea’s presence in global trade,” Standard Chartered Bank Korea
Sept. 24, 2020
-
Korean lenders struggle with New York hotel-retail project investment
Major South Korean lenders’ decision to invest some $100 million in a hotel and retail project at 20 Times Square in New York in 2018 has come back to bite them two years later, with the property’s foreclosure last year continuing to wreak havoc amid the coronavirus pandemic, sources said Thursday. In 2018, French Bank Natixis syndicated to local banks KB Kookmin, Hana and NH Nonghyup -- three of the five major lenders here -- and other Korean institutional investors. Some combined
Sept. 24, 2020
-
Shin & Kim LLC augments international tax service
Shin & Kim LLC, South Korea’s fifth-largest law firm by number of lawyers, said Thursday that it has enhanced its international tax practice by hiring four leading experts. Sunny Kim, a senior foreign attorney and expert in international tax and cross-border mergers and acquisitions, was named head of the international tax practice, the company said in a release. Kim frequently serves as a consulting expert for the Korean government on issues such as consolidated tax regime, partn
Sept. 24, 2020
-
Proptech startup Kasa Korea attracts W9.2b in pre-series B funding
Kasa Korea, a property technology startup, said Thursday it has raised some 9.2 billion won ($7.8 million) in a pre-series B funding round. The latest funding was led by the state-run Korea Development Bank. Silicon Valley venture capitals and domestic investment firms, including Northern Light Venture Capital, and Kona I Partners, participated in the fundraising round as financial investors and interior firm Kukbo Design was involved as a strategic partner. The proptech startup has so far
Sept. 24, 2020
-
Seoul stocks tumble to over 1-month low on withering global
South Korean shares plunged to a more than one-month low on Thursday, as investors turned risk-averse following overnight Wall Street decline over withering hopes of a quick economic recovery. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 60.54 points, or 2.59 percent, to close at 2,272.7. Trading volume was moderate at about 706 million shares worth some 12.3 trillion won ($10.5 billion), with losers outnumbering gainers 831 to 68. Fo
Sept. 24, 2020
-
K-Sure, LH join hands to secure overseas development projects
The Korea Trade Insurance Corporation said Thursday that it had signed a memorandum of understanding with the Korea Land and Housing Corporation to help South Korean companies secure more overseas construction projects. Under the deal, the state-run trade insurance firm will provide overseas business financing insurance and various trade insurance products to LH and partner companies bidding for overseas construction orders, which will help the builders minimize losses from offshore investments
Sept. 24, 2020
-
Kakao Bank makes IPO plans official
South Korea’s leading internet-only bank, Kakao Bank, made its market debut plans official as it decided to apply for auditor designation and select an underwriter by the end of this year, the company said Thursday. But the company has not yet decided when or where to list its shares -- on the main bourse, Kospi, or the tech-heavy Kosdaq -- or on the size of the offering. The company is expected to become the first online-only bank to be listed in the local stock market, and the second
Sept. 24, 2020
-
BTS agency begins IPO demand forecasting for institutions
Big Hit Entertainment, the management agency for K-pop super group BTS, was to start demand forecasting for domestic and overseas institutions Thursday in the runup to its initial public offering (IPO). Big Hit Entertainment will determine the initial offering price following the two-day forecasting session as one of the largest talent agencies is slated to debut on the country's main stock market next month. General subscription for its shares is scheduled for Oct. 5 and 6 amid keen interest
Sept. 24, 2020
-
Seoul stocks open sharply lower on Wall Street plunge
South Korean shares opened sharply lower Thursday, taking a cue from a plunge in tech stocks on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) fell 33.58 points, or 1.44 percent, to 2,299.66 in the first 15 minutes of trading. Investor sentiment worsened as key US stock indexes tumbled, with tech shares leading the market slump. The tech-laden Nasdaq Composite plummeted 3.02 percent to 10,632.99 on Wednesday (New York time). The Dow Jones Industrial Average dropped 1.
Sept. 24, 2020
-
Seoul stocks slightly up on bargain-hunting
South Korean shares snapped a two-day losing streak to inch higher Wednesday on the back of retail investors' massive bargain-hunting. The Korean won rose against the US dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 0.65 point, or 0.03 percent, to close at 2,333.24. In the previous session, the index fell 2.38 percent. Trading volume was moderate at about 725 million shares worth some 13.4 trillion won ($11.5 billion), with losers outnumbering gaine
Sept. 23, 2020
-
Tesla’s lukewarm Battery Day disappoints Korean market
Electric vehicle maker Tesla’s promises of a $25,000 electric car and affordable batteries were good enough to receive honks from its fans seated in EVs at the annual Battery Day conference and shareholder meeting. They, however, fell short of exciting investors as the company‘s stock price dropped. The disappointment among global investors also dragged down stock prices of Korean companies in the electric vehicle segment. Many Korean firms in the EV battery industry, including LG
Sept. 23, 2020
-
Seoul stocks open slightly higher on Wall Street rebound
South Korean shares opened slightly higher Wednesday, tracking an overnight rebound on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.41 points, or 0.23 percent, to 2,338.0 in the first 15 minutes of trading. The index got off to a strong start after a 2.38 percent plunge the previous session. Tech shares advanced, taking a cue from an upturn in US tech heavyweights. The tech-laden Nasdaq composite rose 1.71 percent to 10,963.64 on Tuesday (New York time). The
Sept. 23, 2020
-
Standard Chartered CEO cements partnership with S. Korean fintech leaders
After completing a two-week self-quarantine period in South Korea, London-based Standard Chartered Bank CEO Bill Winters has been traveling back and forth between South Korea’s capital Seoul and Pangyo, touted as the nation’s Silicon Valley, meeting with a number of high-profile figures in the domestic financial technology industry in recent days, according to sources Tuesday. Winters was initially granted a quarantine exemption upon his arrival in the country on Aug. 30, but decide
Sept. 22, 2020
-
Seoul stocks plunge more than 2% on virus fears
South Korean stocks dipped more than 2 percent on Tuesday, as investor sentiment worsened over dimming hopes for recovery from the coronavirus pandemic in major economies. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 56.8 points, or 2.38 percent, to close at 2,332.59. Trading volume was high at about 1 billion shares worth some 17.5 trillion won ($15 billion), with losers outnumbering gainers 816 to 80. The KOSPI plunged after losi
Sept. 22, 2020
-
Shinhan Card joins forces with Visa to offer data consulting services
South Korea’s leading card issuer, Shinhan Card, is ratcheting up its efforts to tap into global markets. As part of its recent global expansion scheme, it has joined hands with global credit card giant Visa to offer joint consulting services based on data analysis. The two firms plan to deploy their data analysis capacities to provide consulting services for local and global governments and companies. The partners will also try to develop solutions to monitor global payment and consump
Sept. 22, 2020
-
[Decoding Shareholders] Woori Financial Group on long road to privatization
This is a part of a series exploring the governance structure of financial giants in South Korea and examining diversity and transparency in boardrooms. -- Ed. It was a 12.7 trillion won ($10.6 billion) government bailout that saved Woori Financial Group, then known as Hanvit Bank, in 1998 when it was reeling from the 1997 Asian financial crisis. For more than 20 years, the lender survived and kept its status as one of South Korea’s financial giants. But the remaining presence of state fu
Sept. 22, 2020
-
FSS stresses need for environment monitoring system in financial sector
The chief of South Korea’s financial watchdog on Tuesday urged private financial firms to disclose corporate environmental information, as part of a move to mitigate the detrimental effects of climate change on financial circles. “Global consensus has arisen over the so-called ‘green finance’ and ‘sustainable financial services’ following a series of environmental improvement agreements,” Yoon Suk-heun, governor of the Financial Supervisory
Sept. 22, 2020
-
NPS joins hands with Keppel Capital for Asia infrastructure investment
The National Pension Service, South Korea‘s public pension fund, has entered into a strategic cooperation with Singapore-based Keppel Capital to beef up private infrastructure investment in Asia. According to the investment arm of offshore rig builder and shipbuilder Keppel, the strategic cooperation is meant to foster capabilities to manage energy and environmental infrastructure assets, including renewables and related technology solutions, urban development and connectivity solutions.
Sept. 22, 2020