The overall value of the shares in Samsung affiliates and subsidiaries held by South Korea’s largest institutional investor, the National Pension Service, jumped nearly 60 percent over the past year, according to data made public Tuesday. The NPS’ shares in 13 Samsung units were worth 49.28 trillion won ($41.7 billion) as of Wednesday last week, up 57 percent from 31.4 trillion won ($26.7 billion) Jan. 2 last year, according to financial research firm FnGuide. The whopping increa

Market Jan. 28, 2020

The number of foreign investors in South Korea’s stock and bond markets exceeded 480,058 last year, up 1,358 from a year earlier, according to the nation’s financial regulator Financial Supervisory Service on Monday. Of the total figure, individuals made up 11,657, while institutional investors made up 36,401, including 23,064 private funds, 2,305 pension funds, 997 stock brokerage firms, 738 banks and 512 insurance firms. By nationality, the US and Japan were the two largest pl

Market Jan. 27, 2020

Last year, the number of newly minted coins hit the lowest value on record and the number of banking branches continued to drop, according to data on Monday. The Bank of Korea, the nation’s central bank, said newly issued coins last year amounted to some 36.4 billion won ($30.9 million) in value, the lowest since comparable data started being compiled in 1992 and down 14.3 percent from a year earlier.  The figure is even lower than the 39.6 billion won worth of newly made coins i

Market Jan. 27, 2020

Finance Minister Hong Nam-ki said Wednesday that three sectors for electronic materials, parts and equipment, which have been affected by trade restrictions of Japan since last year, are back on a stable track as a result of governmental support.“We have come with specified measures on the voluntary investment worth 2 trillion won ($1.72 billion) by the private sector here and additional investment plans by global companies,” said Finance Minister Hong at a meeting in Incheon.“

Market Jan. 22, 2020

South Korea’s largest conglomerate on Tuesday appointed new chief executives -- all in their 50s -- in an apparent move to tackle challenges in the fast digitalization of the capital market and diversify its business portfolio for sustainable growth.Samsung Group’s insurance unit, Samsung Life, has appointed Jeon Young-muk as its new CEO. He has served as CEO of Samsung Asset Management since 2018. Samsung Life vice presidents -- Kim Dae-hwan and Shim Jong-keug -- have been tapped to

Market Jan. 21, 2020

Myeong-dong, one of the largest retail districts in Korea, was the only area among the world’s top 10 global shopping streets that saw an average rent drop on-year in 2019, according to global real estate consulting firm Cushman & Wakefield. According to a recent report published by the consulting firm, the annual average rent in the Myeong-dong district came in at $862 per square foot, down 1.5 percent on-year. In order to rent a store area of 30 pyeong, or 99 square meters, for insta

Market Jan. 20, 2020

Amid growing concerns over worsening profits, insurance companies in South Korea said Monday they plan to roll out new services, incorporating new technologies such as big data and artificial intelligence. They also pledged more investments for the emerging technologies and startups.“Korean insurance firms will utilize new technologies, including AI, in different areas from risk assessment, to have a competitive edge in the face of the looming ‘fourth industrial revolution,’&rd

Market Jan. 20, 2020

D.Camp, a leading South Korean startup accelerator, said Sunday that augmented reality solution startup Qrio and health tech startup 9to6 topped its first pitching competition of 2020, held last week in Seoul. The event was organized together with InvestHK, an agency responsible for foreign direct investment in Hong Kong, and the Hong Kong Economic and Trade Office, a state-run trade organization.Qrio has developed a mobile AR application that helps users create their own virtual action figures

Market Jan. 19, 2020

Samsung Group is expected to replace most of the chief executives at its financial units, including Samsung Life Insurance and Samsung Card, according to news reports on Sunday.According to local business daily the Korea Economic Daily, the conglomerate is scheduled to carry out its annual reshuffle of C-level executives this week, starting with its flagship Samsung Electronics and other IT affiliates on Monday.Financial units, including Samsung Securities and Samsung Card, will follow suit on T

Market Jan. 19, 2020

With bills on personal data and credit information passing the legislature, Korean financial authority Financial Services Commission and other financial organizations on Thursday vowed to make joint efforts to create a better, fair environment for the financial technology market.“The FSC hopes to see fintech firms achieve successful results of their businesses this year, and for that, it will not spare efforts to support them,” said Kwon Dae-young, director general of FSC’s fin

Market Jan. 16, 2020

The Korean Reinsurance Co. (Korean Re), a leading domestic reinsurance firm here, announced the launch of its Shanghai office on Wednesday. The opening came after it received approval from China’s banking and insurance authorities in December. The new office is the second Chinese location for the Korean firm, which has run its business in Beijing since 1997. The new branch will be in charge of sales while the Beijing office will continue to lead the management and market research.The

Market Jan. 15, 2020

The recent passage of bills on personal data and credit information of individuals by the National Assembly will likely give a boost to fintech giants and startups in South Korea, according to analysts.The three revised bills regarding the protection of private information, information and communications networks, and the use and protection of credit information will allow companies as well as government agencies to utilize personal information for various research and business purposes without

Market Jan. 15, 2020

South Korea saw its employment rate hit a 22-year high last year, boosted by a stronger-than-expected job growth in December, government data showed Wednesday.Asia’s fourth-largest economy, however, continues to face structural problems as the latest result was mostly attributable to the government’s policy efforts and also focused heavily on specific age groups.The country recorded 27.15 million workers employed in December -- up 516,000 from a year earlier -- marking the large

Economy Jan. 15, 2020

Influencer marketer Marketit said Tuesday that it has attracted 5 billion won ($4.3 million) from investors including AlpenRoute Asset Management.AlpenRoute was one of the early investors in Big Hit Entertainment, the agency behind global pop sensation BTS, and Market Kurly, a startup unicorn that operates a grocery delivery platform. With the new funding, the startup has secured 7 billion won in total investments, according to officials.It plans to advance its data management systems and r

Market Jan. 14, 2020

세계적 컨설팅 회사 딜로이트의 한국 멤버인 딜로이트 컨설팅 코리아가 여성 리더쉽 부족 등의 이유로 아시아 태평양 연합체 가입에서 탈락한 것으로 알려졌다.회사 내부에 정통한 소식통에 따르면, 작년 여성 리더십과 인종 다양성을 평가하는 내부 조사에서 딜로이트 컨설팅이 낙제점을 받았고, 이는 연합체 합류가 어렵게 된 이유 중 하나라고 말했다.딜로이트 아시아 태평양은 중국, 일본, 동남아시아, 호주 등의 딜로이트 사무소들이 연합해 최고 수준의 프로페셔널 서비스를 제공하기 위해 2018년에 만들어진 단일 그룹이다. 딜로이트 그룹은 당시 아태멤버들에게 3년간 약 3억 2300만 달러의 투자를 하기로 약속했다. 이 연합체 소속 멤버들은 해당 국가를 넘어선 새로운 프로젝트 수주는 물론, 지위도 높아지는 효과를 누릴 수 있을 것으로 예상된다. 올해는 인도가 합류할 것으로 점쳐지고 있지만 한국은 아직 멤버 리스트에서 빠져있다. “내부 평가 후, 본부장 급 임원께서 여성리더

한국어판 Jan. 14, 2020