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While South Korea’s benchmark index hit an all-time record of 2,633.45 on Friday, a global market gauge also reached a new high, suggesting the country’s stock market may be overvalued. The Buffett indicator -- US investor Warren Buffett’s preferred market indicator -- marked 112....
NH Financial Group Chairman Kim Kwang-soo has officially been tapped to lead the Korea Federation of Banks, a representative body of commercial banks, officials said on Nov. 27. The KFB board of directors unanimously approved Kim’s nomination as its 14th chairman during a general meeting h...
South Korean midsized automotive parts maker Myoung Shin Industry said on Nov. 25 that it is looking to raise as much as 91.2 billion won ($82.3 million) from its initial public offering on the nation’s benchmark Kospi early next month. “We are looking forward to raise our overseas s...
Woori Financial Group said on Nov. 25 that it has set up a 200 billion won ($180 million) fund to invest in social infrastructure projects, called the “Woori Global Infra New Deal Fund.” In September the government announced its New Deal Fund, a state-led fund worth 20 trillion won a...
South Korean banking groups are set to tighten lending rules for overdraft accounts, lowering borrowing limits amid government efforts to put a brake on the nation’s fast-growing household debt, industry data showed on Nov. 20. The five major commercial banks here -- KB Kookmin, Shinhan, ...
The price of largest cryptocurrency Bitcoin reached a recent high dating back nearly three years, rising more than 4 percent within 24 hours amid investors’ rising demand for safe investments, digital currency data showed on Nov. 18. According to US-based cryptocurrency data provider CoinMa...
Despite the pandemic increasing the risk of doing so, institutional investors in South Korea said they would venture into unfamiliar nonbank financing bets, such as private debt funds. Representatives of Korean investors said last week at PDI Seoul Forum Virtual Experience 2020 that they are develo...
Financial affiliates of South Korea’s largest conglomerate Samsung Group announced on Nov. 12 that they would halt investment projects linked to coal-power businesses as part of their efforts to run operations in an environmentally responsible manner. Samsung’s insurance arms Samsung ...
South Korea’s leading online bank Kakao Bank has launched a procedure to pick lead underwriters for its public initial offering, according to industry sources on Nov. 11. The affiliate of mobile messenger firm Kakao has sent a request for proposal to domestic and global brokerages to explai...
Morgan Stanley Capital International announced on Nov. 11 that it has added three large- and mid-cap South Korean stocks -- SK Biopharmaceuticals, SK Global Chemical and Doosan Heavy Industries & Construction -- to its global and regional equity index, as part of November rebalancing. As ant...
South Korea’s largest proxy adviser, alongside Institutional Shareholder Service and Glass Lewis, has urged KB Financial Group shareholders against the appointment of two outside directors apparently recommended by the firm’s labor union, industry sources said on Nov. 10. The Korea Co...
The weakening US dollar against South Korean won has invited the highest amount of foreign investment in Korean stocks in 15 months, data showed on Nov. 9. Foreign investors net bought Korean listed stocks worth 1.36 trillion won ($1.22 billion) in October, the highest monthly figure sin...
Two financial subsidiaries of South Korean mobile messenger giant Kakao are taking a step toward initial public offerings next year, picking up an additional underwriter and securing investments from a global private equity fund, according to local investment banking sources on Oct. 27. Kakao Pay, ...
Hanwha Asset Management said on Oct. 27 its wholly owned Chinese unit has been granted a private fund management license for mainland China. A PFM license, approved by the Asset Management Association of China, allows foreign asset managers to create and sell funds investing in onshore stocks ...
Woori Financial Group said on Oct. 26 that its third-quarter net profit dropped 1.13 percent on-year to 479.8 billion won ($425 million). The figure was calculated based on the respective sizes of the stakes Woori holds in its units. Under the premise that Woori holds 100 percent stake in all of ...
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