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[Today’s K-pop] Blackpink expands tour yet again
Appellate court rules against local temple claiming ownership of Buddhist statue stolen from Japan
[The Korean Dilemma] What ChatGPT means for Korea
S. Korea may test-fire new 'high-power' Hyunmoo ballistic missile in near future: source
Ex-President Park's aide acquitted of hindering Sewol probe
Democratic Party accuses Yoon of ‘rolling back Moon’s reforms’ of top spy service
Performing arts boast strong ticket sales and revenue in 2022
Remains of ‘Mr. Sunshine’ to return home after 100 years
HLB's anticancer drug receives greenlight in China
[Photo News] Insights on metaverse
N.Korea prioritizes military buildup ahead of army anniversary
SK hynix, hit with first operating loss in decade, to cut spending
[History through The Korea Herald] War orphans, the Holts and seeds borne from tragedy
S. Korea logs highest monthly trade deficit amid sluggish chip demand
Foreign minister to lobby for UN seat, nuke talks on US trip
Viviz blazes charisma and attitude with 3rd EP 'VarioUS'
Geopolitical conflicts pose risk to chip, battery industries: BOK
KT partners with Mongolia's Monnis Group for rare earths
‘Next Sohee’ a blunt portrayal of how adults destroy the dreams of youths
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Danaher ordered to offload assets for GE biopharma unit acquisition
Feb 4, 2020
Ahead of Danaher’s acquisition of General Electric’s biopharmaceutical unit for $21.4 billion, South Korea’s Fair Trade Commission on Tuesday ordered either of the two firms to divest certain assets in its conditional approval. The latest decision, according to the antitrust watchdog, is meant to thwart monopoly in Korea’s bioprocessing market. The order forces either Danaher or GE’s biopharma ...
[News Focus] Watchdog’s final approval of sanctions puts Woori, Hana in tight spot
Feb 4, 2020
Top executives and board face tough decisions concerning governance, relations with financial authorities
Vacation rental management startup snaps up $7m funding
Feb 4, 2020
H2O Hospitality, a Korean startup dedicated to vacation rental management in Japan, said Tuesday it has raised $7 million funding from five investors to meet its fast-growing working capital needs on the back of strong growth. Joining the latest round were Samsung Venture Investment, Stonebridge Ventures, IMM Investment, Shinhan Capital and Wonik Investment Partners. The round brought H2O’s tota...
Woori Financial faces tough choices over chairman
Feb 2, 2020
South Korea’s Woori Financial Group is likely to have a tough week ahead, as the financial watchdog’s recent decision to impose sanctions on its chairman threatens its governance. Woori Financial’s regular board meeting is scheduled Friday, and an intense round of discussions is expected to take place over the fate of Woori Financial Group Chairman and Woori Bank CEO Sohn Tae-seung. The Financi...
Opposition lingers in Shinhan’s Orange Life merger
Jan 31, 2020
Shinhan Financial Group’s plans to merge Orange Life Insurance with its wholly owned life insurance unit seemed to have been working out smoothly. However, trouble persists as minority shareholders continue to demand an increase in their dividend payouts. Small shareholders of Orange began making the demand after teaming up with civic activist group the Korea Stockholders Alliance in November, b...
Entertainment firm behind BTS seeks IPO underwriter: report
Jan 31, 2020
Big Hit Entertainment, the agency behind K-pop sensation BTS, is seeking an underwriter in the initial step to go public, according to news reports Friday. Big Hit has sent a request for proposal to multiple securities brokerage firms to underwrite its initial public offering, an investment banking source was quoted as saying by local news outlet the Bell. The news report did not clarify which s...
Leadership vacuum at Woori and Hana inevitable due to FSS’ heavy sanctions
Jan 31, 2020
Financial giant Woori Financial Group said Friday that it has delayed the process to select CEO candidates for its banking unit Woori Bank. The announcement came after the nation’s financial watchdog Financial Supervisory Service decided the day before to impose sanctions on top executives of Woori Financial Group and Hana Financial Group. “The company has decided to readjust the schedule for s...
S. Korea's daily FX turnover jumps to record high in 2019
Jan 31, 2020
The daily foreign exchange turnover by local and foreign banks in South Korea climbed to an all-time high in 2019 on a sharp increase in the transaction of derivatives, central bank data showed Friday. The daily FX turnover came to an average $55.77 billion in the year, up $260 million, or 0.5 percent, from a year earlier, according to the data from the Bank of Korea. The amount marks the highe...
Fear of coronavirus spreads to Korea’s commercial banks
Jan 29, 2020
From face masks to thermometers, banks take precautions for local customers, mull contingency plans for overseas operations
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 appointment in 2013. Lee, who was appointed in a similar top-down manner under the Park Geun-hye administration, also met with union resistance over government involvement. IBK union members have consisten...
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. The fund has a maturity of 30 years and is set to close all transactions by October 2024. The fund is designed to target overseas infrastructure assets, ranging from new and renewable energy plants, ...
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, as the distrust of hedge fund managers across South Korea has triggered abrupt money withdrawal attempts. Of its 226.4 billion won assets in open-ended funds -- designed to allow investors to withdr...
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, the Korea Exchange is considering putting a 30 percent limit on Samsung’s weighting on the Kospi 200 Index earlier due to the stock’s recent rally, said Ahn Kil-Hyun, the manager of the team that ove...
[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 labor associations in recent weeks. The Federation of Korean Trade Unions, one of the two largest umbrella labor organizations here, announced Wednesday that it was joining the IBK unionists in prote...
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 declared value of Shinsegae chief Lee Myeong-hee’s 2,861-square-meter house in Hannam-dong, Seoul, was 27.7 billion won ($23.82 million) this year, taking the top spot on the list of 220,000 detached houses...
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Adversary that challenges S. Korea challenging Seoul-Washington alliance as whole: US defense chief
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Samsung defies chip price slump, vows to continue investment
S. Korea, US agree to further step up military exercises
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S. Korea's exports down 16.6% in January; trade deficit hits record high
Hygiene warning issued for McDonald's stores in Korea
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VW Korea halts car sales, to issue recall over faulty warning triangles
Counseling center opens for Itaewon residents, merchants
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[Newsmaker] New visas, faster entries: Immigration changes in 2023
Plan needed to attract foreign workers: PM
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