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South Korea’s financial authorities on Sunday unveiled plans to tighten regulations on privately pooled funds to protect investors, as an embezzlement case surrounding disgraced Lime Asset Management, which drew 1.6 trillion won ($1.3 billion) from investors, shows signs of progress with key suspe...
South Korean genetic technology firm Solgent has picked local brokerage Mirae Asset Daewoo as an underwriter for its initial public offering, buoyed by sales of its diagnostic kits for the novel coronavirus, the company said on April 23. The Daejeon-based company and the underwriter are in the na...
JB Financial Group, a local banking group has completed an acquisition of a Vietnam-based brokerage previously owned by global investment bank Morgan Stanley, as part of its effort to make inroads into the Southeast Asian region. JB Financial Group said on April 22 it paid 19.9 billion won ($16.1...
The state-run Industrial Bank of Korea agreed to pay $86 million (100 billion won) to the the US authorities in penalties over illegal cash transfer to Iran, the bank said on April 21. As part of its settlement, IBK will pay $51 million to the US prosecution and $35 million to the New York State ...
Amid concerns building over risks of individual investors seeking short-term profits, a local expert said Monday that the latest buying trend will likely result in great success in the long run. “Retail investors tend to have invested in blue chips during the recent buying binge, like Samsung El...
Seoul-based global startup accelerator SparkLabs said on April 13 it has joined hands with nonbanking lender Shinhan Capital to create a 10.1 billion won ($8.28 million) fund to support early-stage startups. The vehicle is aimed at investing in SparkLabs alumni and other early-stage startups wit...
Facing a looming liquidity crunch due to the coronavirus crisis, South Korean companies have sold off their assets, including real estate and equities, to keep enough cash in their vaults, according to the Korea Exchange on April 9. From January to April 7, 29 companies sold a combined 1.5 trill...
South Korean brokerages are on high alert as funds related to foreign real estate -- and their direct investment in property ownership abroad -- are likely to suffer losses under the intensifying pandemic situation, according to industry sources on April 8. As the current crisis sends property va...
Ion Investments, an affiliate of Singaporean investment firm Temasek Holdings, sold millions of shares of South Korea’s biosimilar giant Celltrion and its distribution affiliate Celltrion Healthcare in a block deal before the markets opened, according to news reports on April 2. The Singapore-ba...
US investment house BlackRock Fund Advisors has offloaded its 1.01 percent stake in South Korea’s game software developer NCSoft to cash out 129.57 billion won ($105.1 million), a filing showed on April 2. As a result, BlackRock Fund Advisors and its 13 specially related parties were holding 6.0...
South Korea‘s brokerage houses are expected to take a breather from financial woes, triggered by the recent rout in risky structured products that placed their heavy bets on foreign stock benchmark indexes. With parts of policy prescriptions to cure financial markets hit hard by the novel coronavi...
South Korea’s state pension fund said on March 25 that it will take a final stance Thursday on the family feud centering on management control of Hanjin KAL, holding company of Hanjin Group which runs Korean Air. A trust management committee under the state-run National Pension Service, which ho...
South Korean stocks rebounded sharply Tuesday as investors were buoyed by the US Federal Reserve’s overnight announcement of unlimited bond-buying to tackle the economic slowdown due to coronavirus spread. The Korean won also climbed sharply against the US dollar. The benchmark Kospi soared 127....
Highly volatile exchange rates and dampened investment sentiment around the world are now posing challenges to South Korea’s asset management firms, which have been accelerating their expansion into global real estate markets in recent years, according to market watchers. Seeking out new opportu...
Despite a six-month ban on short selling of stocks, foreign investment banking houses remain dominant players betting on falling prices of South Korean shares, raising hackles for the stock market volatility. According to data compiled by bourse operator Korea Exchange (KRX) on Monday, 6,662 case...
[KH Explains] Lotte goes all-out to secure cash amid lackluster earnings
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SKT, OpenAI hold AI competition for social good
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KB chief hopes successor transforms group into 'Samsung of finance'