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BUSINESS

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LATEST NEWS
  • [Graphic News] Majority of Americans see North Korea as enemy: poll
  • Secret love story between Hyun Bin and Son Ye-jin takes place in North Kore...
  • N. Korea blasts Trump's warning, says it has nothing more to lose
  • PPP forum on exporting smart transport infra to be held
  • Seoul closely monitors Pyongyang’s activities amid latest possible provoca...
  • Court gives jail terms to Samsung execs in accounting fraud case
  • 22 restaurants in Korea included in La Liste
  • [Editorial] Keep innovation alive
  • S. Korea’s workforce to see steepest decline among key economies: WTO
  • [Daniel Moss] Former sex slaves shouldn’t become trade weapons
  • Defense stocks surge after N. Korea’s ‘very important test’

    Today

    Defense stocks surge after N. Korea’s ‘very important test’

    Shares of South Korean defense-related firms jumped Monday in the wake of North Korea’s announcement about a “very important test” at its western satellite launching site over the weekend.Shares of asphalt plants manufacturer Speco closed nearly 12.9 percent higher from the previous session, at 4,115 won ($3.46). Victek, a provider of military systems and power supply systems, extended gains for the second day and closed nearly 2 percent up at 3,275 won. Both firms are listed o

  • Korean investors turn to real estate, less interested in stock market

    Korean investors turn to real estate, less interested in stock market

    Korean investors have been turning their attention toward the real estate market, reflected in an increase in mortgage lending, while cash flows in the equity market have been overall stagnant, recent data showed. According to data released by the Bank of Korea last month, the outstanding balance of mortgage loans held by banks and other financial institutions here came to a combined 830.3 trillion won ($700.5 billion) as of September. The latest data is a noteworthy jump from the corresponding

    Dec 8, 2019

  • Foreign investors’ bond holdings hit 6-month low

    Foreign investors’ bond holdings hit 6-month low

    Foreign investors in South Korea continued to recoup investments from the local bond market for three consecutive months, dragging the amount of locally listed bonds they held to the lowest level in six months, according to the financial regulator on Sunday. The latest data of the Financial Supervisory Service showed foreign holdings of locally listed bonds amounted to 122.3 trillion won ($103 billion) as of Wednesday, dropping from 124.77 trillion won at end-November. It also marked the lowest

    Dec 8, 2019

  • FSS directs banks to pay up to 80% compensation to DLF customers

    FSS directs banks to pay up to 80% compensation to DLF customers

    The financial watchdog on Thursday directed local banks to compensate up to 80 percent of the losses suffered by customers due to their controversial sale of derivative-linked funds earlier this year. The Financial Supervisory Service held its dispute settlement committee meeting to review six representative cases of investor damages due to miselling -- three from Woori Bank and three from KEB Hana Bank.“In the past cases of misselling (of financial products), the compensation rate was usu

    Dec 5, 2019

  • Restructuring involves inevitable financial consequences: KDB chief

    Restructuring involves inevitable financial consequences: KDB chief

    Social disturbances and financial costs during restructuring are the inevitable price one has to pay in order to reform the economy and prevent further damages, according to the chief of South Korea’s largest state-run bank.“During my past 2 1/2 years in office, I have felt the high level of distrust in our society,” said Lee Dong-gull, chairman of the Korea Development Bank, in a press conference.“Many blame us for persecuting workers along the way but our unchanging goa

    Dec 4, 2019

  • 4 industry doyens join race to be next KOFIA leader

    4 industry doyens join race to be next KOFIA leader

    Four industry experts have joined the race to head the leading nonprofit, self-regulatory financial organization in South Korea.According to the Korea Financial Investment Association on Wednesday, Daishin Securities CEO Na Jae-chul, Hana Financial Investment Executive Managing Director Seo Jae-ik, former IBK Securities CEO Shin Seong-ho and KTB Asset Management Vice Chairman Jung Ki-seung have thrown their hats into the ring.  Other strong potential candidates, including Korea Investm

    Dec 4, 2019

  • [News Focus] Unlisted stock market gains momentum with attention to startups

    [News Focus] Unlisted stock market gains momentum with attention to startups

    Interest in unlisted stocks is projected to further grow as there are no other alternatives to Kosdaq and Konex

    Dec 4, 2019

  • HSBC Securities names new co-CEOs

    HSBC Securities names new co-CEOs

    HSBC Securities has appointed Lee Jong-jin and Rhee Sang-ho as co-chief executive officers, the firm announced Wednesday.Lee joined HSBC in Hong Kong in 2009 from Dresdner Bank and transferred to HSBC Korea in 2010. He has since led fixed income sales, and in 2019 he expanded sales coverage to cash equity products. Lee is also said to specialize in risk management.Rhee joined HSBC in 2010 from JPMorgan and has been leading the Korea debt capital markets team.HSBC Securities provides market resea

    Dec 4, 2019

  • Naver takes top place in stock conversion price ranking

    Naver takes top place in stock conversion price ranking

    SK Holdings slips from No. 1

    Dec 3, 2019

  • Loans by insurance firms up 4.6 % in Sept.

    Loans by insurance firms up 4.6 % in Sept.

    Loans by insurance companies in South Korea rose 4.6 percent in September this year from a year earlier, data showed Tuesday.Outstanding lending by insurance firms totaled 229.3 trillion won ($193 billion) as of Sept. 30, compared with 219.1 trillion won during the same period of last year, according to the data released by the Financial Supervisory Service.Loans extended to households edged up 0.5 percent on-year to 120.4 trillion won, while their corporate lending increased 9.6 percent to 108.

    Dec 3, 2019

  • Kakao Bank further cements status as No. 1 internet bank

    Kakao Bank further cements status as No. 1 internet bank

    Kakao Bank, South Korea's second internet-only bank, said Monday that it swung to a net profit in the first nine months of 2019 from a year earlier, further distancing itself from its only rival, K-Bank, in terms of profitability.The bank posted a net profit of 15.4 billion won ($13 million) in the January-September period, shifting from a net loss of 15.9 billion won a year earlier, according to data posted on the website of the Korea Federation of Banks.The bank posted a net profit of 6.6 bill

    Dec 2, 2019

  • FSS chief warns foreign financial firms against high-risk, short-term gains

    FSS chief warns foreign financial firms against high-risk, short-term gains

    South Korea’s financial market watchdog on Monday expressed concerns over financial firms’ tendency of seeking short-term gains, referring to the recent disputes on the mis-selling of high-risk derivatives.“The conventional business practices, which led to the derivative-linked fund controversies, inflict heavy losses on both investors and financial firms,” said Yoon Suk-heun, governor of the Financial Supervisory Service.The FSS chief was speaking during a luncheon at Co

    Dec 2, 2019

  • With brokerage CEOs’ terms to end, are reshuffles on the cards?

    With brokerage CEOs’ terms to end, are reshuffles on the cards?

    The chief executives of around 10 major brokerages in South Korea are set to end their terms in the first quarter of 2020, data from the Financial Supervisory Service showed Monday, signaling an industrywide leadership reshuffle. But market watchers also expect many of them to extend their average two-year terms based on their performance. CEOs who led strong earnings this year are likely to retain their positions due to the lack of major issues that usually prompt a reshuffle, according to Hwan

    Dec 2, 2019

  • Mirae Asset Global sells prime building in Germany

    Mirae Asset Global sells prime building in Germany

    South Korea’s Mirae Asset Global Investments said Monday it has sold a premium authority building in Germany for 500 million euros ($551 million), earning a hefty profit.The asset management unit of Mirae Asset Financial Group has signed a deal to sell Cologne City Hall building -- the third-biggest building in the city, the company said in a press release.Mirae had acquired the building in February 2016 for 365 million euros through an overseas real estate blind fund. The firm’s div

    Dec 2, 2019

  • Hanwha Life CEO resigns before end of 4th term

    Hanwha Life CEO resigns before end of 4th term

    Co-CEO Yeo Seung-joo to lead the insurer

    Dec 2, 2019

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