The Korea Herald

Danaher ordered to offload assets for GE biopharma unit acquisition

Feb 4, 2020

Ahead of Danaher’s acquisition of General Electric’s biopharmaceutical unit for $21.4 billion, South Korea’s Fair Trade Commission on Tuesday ordered either of the two firms to divest certain assets ...
[News Focus] Watchdog’s final approval of sanctions puts Woori, Hana in tight spot

Feb 4, 2020

Top executives and board face tough decisions concerning governance, relations with financial authorities
Vacation rental management startup snaps up $7m funding

Feb 4, 2020

H2O Hospitality, a Korean startup dedicated to vacation rental management in Japan, said Tuesday it has raised $7 million funding from five investors to meet its fast-growing working capital needs on...
Woori Financial faces tough choices over chairman

Feb 2, 2020

South Korea’s Woori Financial Group is likely to have a tough week ahead, as the financial watchdog’s recent decision to impose sanctions on its chairman threatens its governance. Woori Financial’s ...
Opposition lingers in Shinhan’s Orange Life merger

Jan 31, 2020

Shinhan Financial Group’s plans to merge Orange Life Insurance with its wholly owned life insurance unit seemed to have been working out smoothly. However, trouble persists as minority shareholders c...
Entertainment firm behind BTS seeks IPO underwriter: report

Jan 31, 2020

Big Hit Entertainment, the agency behind K-pop sensation BTS, is seeking an underwriter in the initial step to go public, according to news reports Friday. Big Hit has sent a request for proposal to...
Leadership vacuum at Woori and Hana inevitable due to FSS’ heavy sanctions

Jan 31, 2020

Financial giant Woori Financial Group said Friday that it has delayed the process to select CEO candidates for its banking unit Woori Bank. The announcement came after the nation’s financial watchdo...
S. Korea's daily FX turnover jumps to record high in 2019

Jan 31, 2020

The daily foreign exchange turnover by local and foreign banks in South Korea climbed to an all-time high in 2019 on a sharp increase in the transaction of derivatives, central bank data showed Frida...
Fear of coronavirus spreads to Korea’s commercial banks

Jan 29, 2020

From face masks to thermometers, banks take precautions for local customers, mull contingency plans for overseas operations
IBK chief takes office, ending 27 days of labor protests

Jan 29, 2020

This marks the longest period that a CEO of a financial institution has been unable to enter his office. KB Kookmin Bank’s former CEO Lee Kun-ho was obstructed for 14 consecutive days upon his appoin...
State-backed W1.5tr infra fund to raise private money

Jan 28, 2020

Korea’s state-backed fund seeking a commitment of 1.5 trillion won ($1.27 billion) is looking to raise 900 billion won in private money, its lead fund manager Samsung Asset Management said Tuesday. ...
Hedge fund AlpenRoute may freeze W180b investor funds as distrust builds

Jan 28, 2020

AlpenRoute Asset Management said Tuesday it may opt to suspend investor withdrawal of assets worth 181.7 billion won ($154.4 million) from its 26 open-ended funds by February to ward off illiquidity,...
Samsung may see passive funds cut exposure sooner than expected

Jan 23, 2020

A cap on Samsung Electronics’s weight in a Korean equity index could kick in earlier than planned, triggering fears that billions of dollars will exit the stock. Instead of the bi-annual adjustment,...
[Newsmaker] Union protest over Moon-appointed IBK chief set to intensify

Jan 23, 2020

Protests outside the state-run Industrial Bank of Korea are expected to intensify, with the union’s fight against the top-down appointment of CEO Yoon Jong-won gaining support from powerful national ...
Shinsegae chief owns most expensive house in Korea

Jan 22, 2020

A luxury mansion owned by the chairwoman of retail giant Shinsegae Group remained the most expensive house in South Korea this year, data showed Wednesday. According to the Land Ministry, the declar...