Articles by Jung Min-kyung
Jung Min-kyung
mkjung@heraldcorp.com-
Dividend payouts likely to hit record-high W30tr
The total dividend payments by listed companies in South Korea are likely to exceed 30 trillion won ($26.7 billion) this year, data showed Sunday, reaching a record high in light of mounting pressure from the country’s largest investor, the National Pension Service, to raise their dividend payouts.The total cash dividends of 612 Kospi- and Kosdaq-listed companies that have disclosed figures for 2018 as of Sunday amounted to 27.5 trillion won, according to Seoul-based financial data provide
Market Feb. 24, 2019
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NK-related stocks set to fly on Vietnam summit
With the US-North Korea summit scheduled to take place in Hanoi this week, North Korea-related stocks have been buoyed by the latest conciliatory mood, and a rally is forecast into the future. Shares of South Korean resort operator Ananti, an operator of a resort at Kumgangsan in the North, was among the most traded shares on the Kosdaq bourse last week, with its weekly transactions amounting to nearly 705.3 billion won ($626.9 million), according to the Korea Exchange. The firm’s shares c
Market Feb. 24, 2019
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[News Focus] US’ decision on Bitcoin ETF to set mood for Korea‘s cryptocurrency market
The bearish global cryptocurrency market has prompted investors to turn their attention to “safer” bitcoin exchange-traded funds. But South Korean institutions have kept a tight leash on the whole cryptocurrency industry, instead observing the US’ steps for the time being.“The US has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of bitcoin ETFs within the market -- which is why we are observin
Market Feb. 20, 2019
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5G services to impact telecom stocks
South Korea’s telecom stocks have been underperforming this year, and analysts point out that the commercialization of 5G network services, likely to start in March, will impact their price.According to the Korea Exchange, the nation’s top mobile operator SK Telecom’s share price plunged 5.2 percent since the beginning of the year, as of Friday’s closing. KT and LG Uplus shares dropped 4.2 percent and 15 percent, respectively, in the same period. Foreign investors,
Market Feb. 18, 2019
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[Herald Interview] ‘4th industrial revolution’ technologies now crucial for customs clearance
The global trade volume has expanded at a drastic pace over recent years on the back of e-commerce growth, but has also led to increasing abuse of simplified customs procedures.Responding to such a market reality, it is inevitable that customs offices should fundamentally innovate their administrative systems with key technologies of the “fourth industrial revolution,” according to the head of the information bureau at South Korea’s customs agency.“It is now time that customs administrations ado
Industry Feb. 17, 2019
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[Eye Plus] Walking through early 1900s at Seoul Station
Crowds of daily commuters and tourists hopping on and off KTX bullet trains make it easy to overlook the old Seoul Station, which was restored to its former glory almost half a decade ago. The red-brick Western-style building, which opened in 1925 during the Japanese colonial rule of Korea, no longer serves as a train station. In 2012, it was revamped into Culture Station Seoul 284, an exhibition space. Its turquoise Byzantine-style central dome is a stark contrast to its modern surroundings, in
Travel Feb. 14, 2019
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Foreign investors turn attention to Kosdaq
South Korea’s tech-heavy secondary bourse Kosdaq has been buoyed in recent weeks by foreign investors’ increased interest in the nation’s biotech and pharmaceutical sectors. According to the nation’s sole stock exchange operator Korea Exchange on Wednesday, overseas investors’ net buying of local shares on the Kosdaq, from Jan. 23 to Monday, amounted to 490.5 billion won ($437.6 million), a stark contrast to their decision to net sell stocks worth 606.1 billion won
Market Feb. 13, 2019
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NPS pressure to expand dividends draws mixed reactions
With the National Pension Service apparently determined to pressure companies with “stingy” dividend policies to change their ways, investors are viewing it as an opportunity to seek out new targets with the potential for high payouts, while businesses are concerned on excessive management intervention. Signs of change were spotted as the NPS began exerting its shareholder rights through the stewardship code over Hanjin KAL on Feb. 1, followed by its demand for Namyang Dairy to incre
Market Feb. 12, 2019
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Shinhan Group partners with Toss for internet-only bank foray
Shinhan Financial Group has decided to form a consortium with Viva Republica, the operator of the popular mobile payment app Toss, to enter South Korea’s internet-only bank business, the financial holding firm said Monday. The consortium will place a bid for a preliminary license to clinch the right to operate the nation’s third internet-only bank, it said. The Financial Supervisory Service is slated to accept applications March 26-27. Shinhan said its decision to team up with T
Market Feb. 11, 2019
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Brokerage firms suffer negative earnings surprise in Q4
Major brokerage firms reported worse-than-expected earnings in the fourth quarter of last year, with analysts citing increased market volatility coupled with a slump in the nation’s equity-linked securities market, data released in recent days showed. Mirae Asset Daewoo’s fourth-quarter net profit dropped 72 percent on-year to 26.9 billion won ($23.9 million), noticeably below the average range of 40 billion-50 billion won projected by analysts. The firm had been reporting lackluster
Market Feb. 10, 2019
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Mobile payment recharging limit to be raised
South Korea’s financial regulator plans to raise the limit of recharging credit on mobile payment platforms from the current 2 million won ($1,782), as part of its plans to ease rules on quick payment services, an official said Thursday.The new plan addresses the growing ire among mobile platform operators and users on the 2 million won recharge cap, which makes it impossible for users to purchase goods that cost more than the stated limit through payment systems such as Kakao Pay or Naver
Market Feb. 7, 2019
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Business leaders express worries over NPS’ Hanjin intervention
South Korea’s business leaders on Friday expressed concerns over the National Pension Service’s decision to actively exercise its shareholder rights over Hanjin KAL, claiming that it could dampen corporate activities. “If the NPS decides to actively exercise shareholder rights (on Hanjin KAL), this would be the first such case to be applied on a private firm,” the Federation of Korean Industries said in a statement. (Yonhap)“We have concerns that the NPS’ decision to intervene in the firm’s mana
Industry Feb. 1, 2019
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NPS to actively intervene in management of Hanjin KAL
South Korea’s state pension fund said Friday it had decided to actively exercise its shareholder rights over Hanjin KAL, the holding company of the nation’s No.1 carrier Korean Air.The National Pension Service added however, drew the line at Hanjin KAL, saying that it will not be extending the appliance of the stewardship code or active involvement in management of Korean Air.Hanjin KAL will be the first case in which the NPS’ stewardship code will be applied. The code is a set of guidelines on
Industry Feb. 1, 2019
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Netmarble joins Nexon bidding war
South Korea’s leading game developer Netmarble confirmed Thursday it will participate in the bidding for fellow industry giant Nexon, as industry watchers forecast a tense battle potentially involving China’s largest gaming company, Tencent. “We have decided to form a consortium centered on South Korean capital and participate in the bidding,” Netmarble said in a statement.“The decision was made over concerns of the risk of damage that could be inflicted on the gaming industry along with possibl
Industry Jan. 31, 2019
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FSC vows to ease listing rules for 3rd bourse, rejuvenate SME investment
South Korea’s chief regulator said Wednesday that it plans to ease listing rules for the nation’s tertiary bourse, focused on startups and small and medium-sized firms, to reform the capital market and support the growth of the Korean economy. The Financial Services Commission will lower the bar for the size of the deposit that regular investors need to participate in the Konex market, FSC Chairman Choi Jong-ku said at an event in central Seoul. The required deposit will be 30
Market Jan. 30, 2019
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