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South Korean midsized builder HDC Hyundai Development Co. said Friday that it has received approval from Russian aviation authorities for HDC’s planned takeover of flag carrier Asiana Airlines, but added that renegotiation of the acquisition terms is still underway. Regarding the merger deal inv...
South Korea aims to foster its intellectual property financial investment market to 1.3 trillion won ($1.08 billion) by 2024 to help firms deal with liquidity issues triggered by the coronavirus pandemic, the nation’s IP office said on July 2. The Korean Intellectual Property Office announced 14...
South Korea’s financial watchdog Financial Supervisory Service on Wednesday urged 10 financial institutions to fully compensate for investors’ losses, holding them accountable for their inadvertent decision to draw investments in the disgraced Lime Asset Management’s trade finance fund. In an u...
Korean private equity firm JC Partners has become a preferred bidder to buy a controlling stake in KDB Life Insurance, in policy lender Korea Development Bank’s move to exit from a troubled financial institution that has strived to turn around amid restructuring. JC Partners was the sole partici...
Riding the wave of contactless service, Kakao Pay Securities, a brokerage backed by mobile messenger operator Kakao, said on July 1 that it would take the stock trading scene to the next level by adding a dab of fun to investment activities and launching easy-to-use services. “Because of high ba...
South Korea’s financial authorities said Wednesday they will ramp up their efforts to open up financial big data to local markets in an effort to nurture the industry here. Starting August, the Korea Credit Information Services, a pan-industry body tasked with data preservation and protection, w...
South Korea‘s pension fund the National Pension Service said Tuesday it has selected five private equity firms as external partners to invest a combined 800 billion won ($665.28 million) in private equities. According to the world’s third-largest public pension fund, NPS will commit 160 billion...
South Korea’s largest institutional investor, the National Pension Service said Monday it has inked a partnership with Germany-based Allianz to co-invest in core real estate assets worth $2.3 billion across the Asia-Pacific region as part of its alternative investment strategy. The 50:50 fund wi...
South Korea’s financial regulator Monday urged financial institutions and tech companies to widen access to client information to foster personal credit information management services here, dubbed MyData. “To maximize customers interest, financial and ICT companies as well as fintech startups ...
Hyundai Capital, the auto financing unit of South Korean carmaker Hyundai Motor Group, has provided family support programs for working parents to better balance home and work. Launched in 2015, the firm’s in-house daycare center has provided high-quality education to the children of employees d...
South Korea’s antitrust watchdog has approved the merger between French multinational corporation LVMH and American jewelry company Tiffany & Co., saying there is no concern of competition restrictions, officials said on June 24. On March 13, LVMH filed a business combination report with the nati...
Turning Seoul into a new financial hub in Asia has for long been a campaign promise of local politicians cutting across party lines. Seoul Mayor Park Won-soon, who is now in his third term, is no exception. He had even announced plans to replace old apartment buildings with high-rises of up to 50...
Mirae Asset Global Investments, the asset management unit of Mirae Asset Financial Group, said on June 19 that it has been marking its growth in the global financial market by selling over 1,700 financial products in 36 countries around the globe. Since establishing the first South Korean asset m...
MP Group, the South Korean company that controls pizza restaurant franchise Mr. Pizza and coffee chain Manoffin, is seeking to sell a controlling stake through an open bidding process, its announcement showed on June 17. Up for grabs will be a 48.92 percent stake in MP Group by founder and ex-cha...
Kakao Bank said on June 17 its customers can now open KB Securities stock trading accounts via its platform. The local brokerage under KB Financial Group is the latest securities company to forge a partnership with the internet-only bank. As of May, Kakao Bank had ushered in some 2 million acco...
Retail inflows at 2-year low as recession worries mount
Hatchback is back
Calls grow over legislation of digital data inheritance
Fiscal chief vows help with falling exports
Internet-only banks lure customers with Tamagotchi-like savings accounts, digital piggy banks
Korea suffers all-time high trade deficit in 1st half
Hyundai Motor Group to establish US corporate body in Delaware
LG Electronics, S.M. Entertainment launch home fitness service