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Seizure treatment developer SK Biopharmaceuticals said on June 15 that it is planning what could be South Korea’s biggest initial public offering in three years, with hopes to raise nearly 1 trillion won ($822 million) in fresh funds. Through its market debut on the nation’s main bourse Kospi, ...
South Korea’s biggest real estate asset management firm IGIS Asset Management said on June 15 that it has launched a new office in Singapore as part of its global expansion. The new branch, IGIS Asia, is the company’s third overseas base. It opened IGIS USA in New York and a London office last ...
South Korea’s asset management companies’ combined net profit has shrunk by over half on-year in the first quarter, data showed on June 11. The net income of 300 AMCs here came to 116.4 billion won ($97.32 million) during the January-March period, down 52.3 percent from the previous year, accor...
K bank is working to resume its operations in July after a monthslong hiatus due to liquidity problems, according to industry insiders on June 9. South Korea’s first internet-only bank recently announced that it would stop receiving new subscribers for its existing Dual-K Checking Account, its s...
As part of its move to nurture the data-based financial industry and financial technology businesses, Korea’s financial authorities will open up 44.5 million pieces of public financial data to the public for free, starting on June 10, regulator Financial Services Commission said on June 8. The r...
South Korea’s investment firm Mirae Asset Global Investments said on June 3 it is eyeing its first initial public offering for its real estate investment trust followed by a listing on the nation’s main bourse Kospi. The REIT is designed to invest in a commercial space of the commercial-residen...
South Korean social casino game developer and publisher DoubleDown Interactive is seeking to get listed on the tech-heavy Nasdaq bourse in the United States, according to its prospectus on June 3. For its initial public offering, the Seoul-based company plans to issue 400,000 new common shares. Al...
Tension mounted on June 2 as executives of Hana Financial Group joined the legal battle against financial authorities for imposing penalties over the misselling of risky derivatives-linked financial products by its banking unit. Jang Kyung-hoon, president of Hana Card as well as Park Se-gul, gene...
South Korea’s biotech firm SCM Lifescienc said on June 1 it has decided to lower its initial public offering price range to attract more investors for its market debut this month on the tech-heavy Kosdaq. By issuing 1.8 million new common shares, each at a price between 14,000 won ($11.40) and 1...
The rate of bailout funds recouped from companies that borrowed from the government since the 1997 Asian financial crisis rose 0.1 percent in the first quarter to 69.3 percent, the country’s financial regulator said on June 1. As of end-March, the government had retrieved a total of 116.8 trilli...
The South Korean music label behind K-pop sensation BTS has filed for a preliminary review for an initial public offering, according to the nation’s stock market operator Korea Exchange (KRX) on May 29. Founded in 2005 by music producer Bang Si-hyuk, Big Hit Entertainment houses BTS and other K-...
South Korean battery maker Samsung SDI said on May 29 it has started injecting capital into EcoPro EM, a joint venture with EcoPro BM, a supplier of electric vehicle battery materials to Samsung. According to Samsung SDI, it will fund a total of 120 billion won ($96.9 million) with EcoPro BM into...
South Korea’s antitrust watchdog has approved Hyundai Oilbank’s plan to take over SK Networks’ gas station business, officials said on May 29. Upon the approval, Hyundai Oilbank has become the second-largest in the industry in terms of the number of gas stations as it has acquired 306 SK Netwo...
South Korean listed companies‘ dividend payouts slipped nearly 2 percent in 2019 from a year earlier amid a business slump, data showed on May 27. Cash dividends paid out by 1,094 firms listed on the country’s main and secondary stock markets totaled 22.6 trillion won (US$18.3 billion) last ...
South Korea’s three major telecommunications firms have submitted nonbinding indicative offers to acquire Hyundai HCN, the nation’s fifth-largest cable TV operator owned by Hyundai Department Store Group, according to industry sources on May 27. The three local firms -- KT, SK Telecom and LG Up...
Woori Bank faces probe again over wire transfers
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Kepco raises electricity rate by 5 won per kWh for Q3
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LG Electronics makes foray into EV charging market
Approval of South Korea’s 1st homegrown vaccine likely next week
Posco apologizes for sexual violence in workplace