Most Popular
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Hyundai Motor eyes 80,000 jobs, W68tr investment at home by 2026
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Korea enters full election mode
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Seoul bus drivers go on general strike, cause morning rush hour delays
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Immigrant woman stabbed to death by Korean husband
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Official campaigning kicks off for April 10 elections
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Dialogue hopes fade as doctors pick hard-liner as new head
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Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027
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[Election Battlefield] Political novice to face off star politician in ‘swing district’
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Court upholds jail term for man who attempted to murder ex-girlfriend
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[Herald Interview] Son Suk-ku chooses to be swayed by others in navigating life
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Financial watchdog seeks foreign banks’ support in Brexit countermeasures
[THE INVESTOR] Financial Supervisory Service Governor Zhin Woong-seob on July 5 called on foreign financial institutions to cooperate with the government in responding to any fallout from UK’s departure from the European Union. “Cooperation between the supervisory agency and foreign financial companies is needed to minimize negative impact of Brexit,” Zhin said at a meeting with the CEOs of the 15 foreign financial companies’ Korean operations. FSS Governor Zhin Woong-seobHe added that the gover
July 5, 2016
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Korea Post chooses Dominus, Lindman Asia to manage PEFs
[THE INVESTOR] State-run Korea Post’s insurance business arm has selected Dominus Investment and Lindman Asia Investment to manage its domestic private equity funds, according to local financial sources on July 4.Korea Post will be investing a total of 60 billion won (US$51.88 million), with Dominuns and Lindman Asia each receiving 30 billion won. Up to 10 different PEFs vied for the Korea Post portfolio, according to the postal company. Dominus Investment mostly invests in convertible bonds, bo
July 4, 2016
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NPS to build defensive portfolio
[THE INVESTOR] Korea’s national pension fund said on July 1 it will adopt a defensive strategy for alternative investments into European markets to protect against potential shocks from the post-Brexit turmoil. The National Pension Service, the world’s third-largest pension fund with 520 trillion won (US$450 billion) in assets, said it will keep a close eye on market conditions after Britain’s decision to leave the EU in order to achieve the 5 percent goal of the annual rate of return this year.
July 1, 2016
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Banks’ nonperforming loans reach 5-year high
[THE INVESTOR] South Korean banks’ nonperforming loan ratio has risen to the highest in five years, Bank of Korea data showed on June 30.The data showed that nonperforming loan ratio stood at 2.6 percent at the end of March, which is the highest level since March 2011, when the figure stood at 2.8 percent. The ratio for commercial banks was 1.8 percent, while special banks -- state-run banks set up according to specific laws -- had a ratio of 3.5 percent. Local banks have extended total of 1.061
June 30, 2016
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National Pension Service hires four PEFs to run its funds
[THE INVESTOR] South Korea’s National Pension Service has named four private equity firms to run 700 billion won (US$607 million) of its funds, the pension giant said on June 30. The NPS, which oversees $430 billion in assets, hired VIG Partners and Skylake Investment to manage investment in large-cap companies with 250 billion won of entrusted funds for each. Some 200 billion won will be allocated to Lindeman Asia Investment and SG Private Equity -- 100 billion won each -- to make investments i
June 30, 2016
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3 Korean brokerages buy Novo Nordisk’s US HQ building
[THE INVESTOR] Three Korean securities firms have decided to jointly acquire a pharmaceutical company’s headquarters building in the US for 350 billion won (US$301 million) as a part of their real estate investment, sources said on June 29.Mirae Asset Daewoo, Hana Financial Investment and HMC Investment & Securities will buy the building used by Novo Nordisk, Danish pharmaceutical company, which signed a 15-year lease on the property in 2011. Located in New Jersey, the 68,000 square-meter buildi
June 29, 2016
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NACF chief to be grilled over alleged illegal campaigning
[THE INVESTOR] National Agricultural Cooperative Federation chairman Kim Byeong-won is to be questioned by the prosecution for alleged wrongdoing in the election process on June 30. The NACF is Korea’s largest agroindustry body that counts NongHyup Financial Group among its affiliates. Its chairman is elected among chiefs of regional branches who run for office. Kim was elected as the chairman of NACF in January, and it has since emerged that he may have been involved in illegal campaign activit
June 29, 2016