The Korea Herald

IBK chief takes office, ending 27 days of labor protests

Jan 29, 2020

This marks the longest period that a CEO of a financial institution has been unable to enter his office. KB Kookmin Bank’s former CEO Lee Kun-ho was obstructed for 14 consecutive days upon his appoin...
State-backed W1.5tr infra fund to raise private money

Jan 28, 2020

Korea’s state-backed fund seeking a commitment of 1.5 trillion won ($1.27 billion) is looking to raise 900 billion won in private money, its lead fund manager Samsung Asset Management said Tuesday. ...
Hedge fund AlpenRoute may freeze W180b investor funds as distrust builds

Jan 28, 2020

AlpenRoute Asset Management said Tuesday it may opt to suspend investor withdrawal of assets worth 181.7 billion won ($154.4 million) from its 26 open-ended funds by February to ward off illiquidity,...
Samsung may see passive funds cut exposure sooner than expected

Jan 23, 2020

A cap on Samsung Electronics’s weight in a Korean equity index could kick in earlier than planned, triggering fears that billions of dollars will exit the stock. Instead of the bi-annual adjustment,...
[Newsmaker] Union protest over Moon-appointed IBK chief set to intensify

Jan 23, 2020

Protests outside the state-run Industrial Bank of Korea are expected to intensify, with the union’s fight against the top-down appointment of CEO Yoon Jong-won gaining support from powerful national ...
Shinsegae chief owns most expensive house in Korea

Jan 22, 2020

A luxury mansion owned by the chairwoman of retail giant Shinsegae Group remained the most expensive house in South Korea this year, data showed Wednesday. According to the Land Ministry, the declar...
Shinhan chief gets suspended sentence over influence-peddling charges

Jan 22, 2020

Chairman to retain leadership despite conviction on some of the accusations against him
Foreign deposits rise on weak dollar in Dec.

Jan 21, 2020

Foreign currency deposits held by banks in South Korea rose sharply from a month earlier in December, central bank data showed Tuesday, apparently on the weakening of the US greenback that prompted b...
Banking chiefs edgy as they await final sanctions decision by authorities

Jan 19, 2020

Fate of Shinhan, Woori, Hana chiefs to be decided Wednesday
Three-way merger scenario not yet confirmed: Celltrion affiliates

Jan 17, 2020

South Korean biopharmaceutical firm Celltrion’s key affiliates said Friday they have yet to set a clear blueprint in regards to Chairman Seo Jung-jin’s hint at the blockbuster merger of Celltrion, Ce...
Woori Financial walks away from W2tr Prudential Life bid

Jan 16, 2020

Woori Financial Group, South Korea’s fourth-largest banking group by assets, walked away from a bid to buy a 100 percent stake in Prudential Life Insurance of Korea, according to the group on Thursda...
Korean investor in Nasdaq-listed OncoSec seeks to thwart Chinese takeover

Jan 16, 2020

Alpha Holdings, the largest shareholder of Nasdaq-listed OncoSec Medical, is pinning hopes on its last-ditch efforts to prevent a takeover of the biopharmaceutical firm by Chinese entities, ahead of ...
Woori mulls appointment of new bank chief over possible FSS sanctions

Jan 15, 2020

Woori Financial Group is taking a cautious approach in naming the new chief of its flagship banking business due largely to the recent debacle involving the sale of high-risk private funds, according...
US investor Capital Group sells W660b stake in Hyundai Motor

Jan 15, 2020

US investment firm Capital Group Companies has offloaded a 2.56 percent stake in South Korea’s largest carmaker Hyundai Motor for 660.8 billion won ($570.9 million), according to a regulatory filing ...
Hanwha Systems’ $25m Overair deal closes

Jan 15, 2020

Hanwha Systems reached a final close on its cross-border $25 million investment in California-based electric takeoff and landing, or eVTOL, aircraft developer Overair, the Korean aero systems firm sa...