Most Popular
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[KH Explains] No more 'Michael' at Kakao Games
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Yoon, Lee end first talks with differences, agree to meet more
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Woman gets suspended term for injuring boyfriend with knife
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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Samsung Electronics Q1 operating profit soars; chip biz returns to profit
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Samsung chief bolsters ties with Germany’s Zeiss
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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Seoul shares to trade flat on geopolitical issues
South Korean stocks are predicted to stay mostly flat next week as investors are expected to sit on the sidelines amid the possibility of a provocation by North Korea, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,204.21 points on Friday, little changed from the previous week.Earlier in the week, the market closed lower as investors took a breather and cashed in recent gains after the market hit an almost eight-month high on Friday, buoyed
Dec. 28, 2019
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Seoul stocks open lower, tech rally continues
South Korean shares opened lower Friday as investors cashed in recent profits ahead of the final trading session of 2019 slated for next week. But major tech stocks continued to build up gains.The benchmark Korea Composite Stock Price Index fell 13.41 points, or 0.61 percent, to 2,184.52 in the first 15 minutes of trading. In South Korea, investors should buy stocks one day before the last trading day of the year to receive dividends. The final trading session of 2019 is Monday.US stocks continu
Dec. 27, 2019
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KB Kookmin Bank to acquire Cambodian lender for $603.4m
South Korea’s commercial lender KB Kookmin Bank said Thursday its board has agreed to acquire a 70 percent stake in Cambodia’s lender Prasac Microfinance Institution for $603.4 million from Sri Lanka-based nonbanking lender LOLC Holdings.Prasac Microfinance is the No. 1 microfinance deposit-taking institution, taking up over 40 percent of market share in Cambodia with 177 branches.KB Kookmin will close the deal within three months, after a due diligence and approval from financial au
Dec. 26, 2019
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NH Investment & Securities launches hedge fund firm
NH Investment & Securities, the country’s second-largest securities firm by net assets, launched a hedge fund company as its own subsidiary, the company said Thursday.NH Hedge Asset Management will be led by CEO Lee Dong-hoon, the former head of the hedge fund division at NH Investment & Securities.In August 2016, the securities firm launched the hedge fund division and has operated the NH Absolute Return Fund worth 700 billion won ($603 million) and NH Pre-IPO Mezzanine Fund worth
Dec. 26, 2019
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Kosdaq to outperform Kospi in Jan.: analysts
South Korea’s secondary bourse Kosdaq is expected to enjoy the “January effect” in 2020, as it has historically performed strongest in the first month of the year, analysts said Monday. According to stock market operator Korea Exchange, the increase rate of Kosdaq’s index in January has been seven times that of the main bourse Kospi since 2010. In January 2018, the Kosdaq index surged 14.42 percent, while Kospi increased 4.01 percent on-year. In January 2014, Kosdaq rose
Dec. 26, 2019
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S. Korea emerges as major player in global gaming M&As: report
South Korean companies are increasingly becoming key players of mergers and acquisitions in the global game industry, in pursuit of fresh revenue sources and growth engines, data showed on Thursday.From 2013 to 2018, Korea ranked No. 4 in global M&A transactions in the industry, according to Samjong KPMG in its report titled “Global M&A Trends in Game Industry.” Of the total 528 deals globally, Korean entities proposed, signed and closed a combined 45 deals, followed by
Dec. 26, 2019
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Banks' loan delinquency rate inches up in October
The delinquency rate for South Korean banks' won-denominated loans edged up in October from a month earlier due to a slight hike in bad loans extended to firms and households, data showed Thursday.The rate for bank loans more than 30-days overdue stood at 0.46 percent at the end of October, up 0.02 percentage point from a month earlier, according to the data from the Financial Supervisory Service.But compared with a year ago, the rate was down 0.12 percentage point, it said.The delinquency rate
Dec. 26, 2019
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Indebted CJ Group moves to generate cash through divestment
Korean food-to-entertainment conglomerate CJ Group is moving to generate cash through divestment efforts by its affiliates this month, making potential room to tackle the group’s snowballing liabilities.The group’s debt -- which stood at 16.6 trillion won ($14.3 billion) as of end-June according to Korea Ratings -- has cast a shadow on Chairman Lee Jae-hyun’s “Great CJ 2020” initiative to secure 100 trillion won in annual group revenue, pushing the conglomerate to t
Dec. 25, 2019
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Trilateral summit raises hopes for recovery of consumer goods stocks
At the end of a sluggish year, South Korea is gradually coming to anticipate the recovery of its consumer goods stocks, placing its hopes on the latest trilateral talk with China and Japan.The key point of interest comes down to whether Seoul will break free of the consequences of economic retaliatory measures taken by Beijing in response to the deployment of an advanced US missile defense system in 2016.On Tuesday, the leaders of the three Northeast Asian states reaffirmed their shared goals of
Dec. 25, 2019
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Banking groups’ overseas assets grow 40% in 3 years
The combined assets of the overseas subsidiaries of South Korean financial groups have expanded nearly 40 percent over the past three years, data showed Wednesday.According to data by the state-run Korea Deposit Insurance Corp., the total assets owned by overseas subsidiaries of South Korea’s major 10 financial groups tallied 61.6 trillion won ($529.2 billion) as of end-June.The list includes Shinhan Financial Group, Hana Financial Group, Woori Financial Group, KB Financial Group, JB Finan
Dec. 25, 2019
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Kakao M carries on M&A push with $23m deal
Kakao M, a subsidiary of South Korean internet giant Kakao, is again adding momentum to mergers and acquisitions to consolidate its content production capacity and generate synergy among its media units.In the latest move, Kakao M subsidiary Starship Entertainment inked a deal to buy a 100 percent stake in a local performing arts company, Shownote, for 26.8 billion won ($23 million) in cash. Starship Entertainment also announced a plan to raise 11 billion won in capital, part of which will come
Dec. 25, 2019
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Investors turned to real estate, gold and foreign stocks in 2019: KRX
Reflecting the slowing economy and prolonged low interest rates, investors here have increasingly turned their eyes to real estate, gold and overseas securities, South Korea’s stock market operator said Wednesday.Based on a survey of industry experts and media correspondents, the Korea Exchange selected its top 10 news stories about the domestic stock and derivative markets this year.A representative phenomenon was the soaring demand for real estate investment trusts, or REITs, led by the
Dec. 25, 2019
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Glenwood PE signs W608b deal to acquire SKC Kolon PI
South Korea’s investment house Glenwood Private Equity has inked a deal to buy a controlling stake in the world’s leading polyimide film maker SKC Kolon PI for 608 billion won ($523.2 million) from its two major stakeholders, according to regulatory filings on Tuesday. The purchase price of a 54.07 percent stake in SKC Kolon PI has shrunk from earlier market estimates of some 700 billion won. The transaction is poised to take place by Feb. 28. SKC Kolon PI is a joint venture of Korea
Dec. 24, 2019
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What Korean commercial banks face in 2020
With unresolved problems set to drag into the new year, South Korean commercial lenders face a number of burdens that will keep them occupied throughout 2020. One of the major issues that drew public flak earlier this year was the misselling of derivatives products worth a combined 800 billion won ($688 million) by Woori Bank and KEB Hana Bank, putting its customers at risk of losing large sums. The banks failed to provide customers with adequate information about the high-risk nature of the pro
Dec. 24, 2019
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Hyundai Investments partners with La Francaise to create European office-focused fund
Seoul-based Hyundai Investments said Tuesday it has joined hands with French investment house La Francaise to create a blind pool fund that focuses on small and midsized office buildings in Western Europe. The new fund seeks 8 percent internal rate of return through a 10-year investment, according to Hyundai Investments. The Korean vehicle did not disclose the fund’s volume and its limited partners committed to the fund. The fund will target core-plus commercial buildings in key citie
Dec. 24, 2019
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IMM PE to invest W134.7b to become HanaTour’s top shareholder
Seoul-based private equity house IMM Private Equity will become the largest shareholder of HanaTour Service, in a capital increase by South Korea’s No. 1 travel agency, HanaTour said on Monday. IMM PE will buy HanaTour’s newly issued 2.3 million common shares, or 16.7 percent of the outstanding shares, for 134.7 billion won ($115.8 million) -- with a 16.3 percent premium to its market price -- according to HanaTour’s disclosure. The funding will be raised from IMM PE&rsquo
Dec. 24, 2019
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Naver-backed VC names head of Startup Alliance as new co-chief
South Korea’s internet giant Naver-backed venture capital TBT said Tuesday it has named Startup Alliance Managing Director Lim Jung-wook as the new co-chief of the investment vehicle. Lim will take office in March, when his term at Startup Alliance expires.He is serving his seventh year as the head of the nonprofit organization, dedicated to startup ecosystem advocacy and community building. Formerly a career journalist, Lim served as the head of web portal operator Lycos and global b
Dec. 24, 2019
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1 in 10 Koreans invest in stocks, as investors are aging: data
One out of 10 South Koreans invest in stocks and nearly half of them are in their 50s or older, government data showed Monday. According to the Ministry of the Interior and Safety, Statistics Korea and the Korea Securities Depository, around 5.55 million people invested in 2,216 listed firms on the domestic stock market, as of end-December last year. The findings showed that one in five of the economically active population were investors and the number reached 10.7 percent of all resident regis
Dec. 23, 2019
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KTB backs acquisition of logistics facility in Ireland
Seoul-based KTB Investment & Securities and KTB Asset Management have backed a 160 million euros ($177.2 million) acquisition of Tesco’s Distribution Center in Dublin, Ireland, by DTZ Investors, its adviser Cushman & Wakefield said Monday.It was the largest single-asset logistics transaction in Ireland by volume. The 73,000 square meter-wide warehouse is a logistics facility for dry goods distribution to some 150 Tesco stores across Ireland within three hours. KTB partnered w
Dec. 23, 2019
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Credit rating downgrades of Korean firms hit 3-year high
The average number of companies that suffered credit rating downgrades hit a three-year high this year, as they have been struggling to cope with the risks stemming from the US-China trade war and global economic slowdown, latest data showed Monday. According to separate evaluations by three major credit rating agencies here, the average number of firms that were downgraded so far this year increased to 55 firms, 15 more than last year. The corresponding figure stood at 37 in 2018 and 45 in
Dec. 23, 2019