Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
Kakao Friends gets new name Kakao IX after takeover
Following an inter-subsidiary acquisition, Kakao Friends, a character licensing subsidiary of mobile software giant Kakao, changed its name to Kakao IX on Wednesday. Kakao IX is short for Kakao Innovative eXperience. Other than selling goods that use Kakao’s intellectual property for characters, Kakao IX will serve as a documentary magazine publisher, food and beverage brand owner and real estate developer, the company said. (Kakao IX)This came after Kakao Friends on July 2 took over Joh & Co.,
Industry July 18, 2018
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Calls grow to deregulate market for online-only banks
Panelists from academic circles at a roundtable discussion Monday called on financial authorities to lower the regulatory bar for South Korea’s digital banks, which face difficulties in launching new financial services due to failures in raising capital.Among issues at debate were calls to ease regulation on nonfinancial firms’ maximum ownership of banking firms, with some panelists saying such a regulation is outmoded. The ban was put in place to prevent companies from using banks a
Market July 16, 2018
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K bank faces impasse on capital increase failure, regulation
K bank, South Korea’s first online-only bank, has come under financial pressure over its failure in capital increase through issuing new stocks, as pledged in May. By Thursday, K bank shareholders were scheduled to buy 24 million newly issued common stocks and 6 million convertible preferred stocks without voting rights, worth a combined 150 billion won ($132.4 million). Of the total pledges with 5,000 won per share, only 30 billion won for the convertible securities purchase had been paid
Market July 15, 2018
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Mirae Asset yields over 20% return from global ‘innovative firms’
Mirae Asset Global Investments, a South Korean asset management company, has harvested returns of over 20 percent a year in its stock funds dedicated to investing in innovative firms, the company said Sunday. Mirae Asset G2 Innovator Fund, investing in innovative companies in the United States, China and Taiwan, has generated some 33.02 percent of yearly returns, the highest among all Korean stock funds, according to an estimate by fund evaluator KG Zeroin on Wednesday. The secret behind the yie
Market July 15, 2018
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[Weekender] Sneaker dissected: why so comfortable?
It is the brand and design that can seem most alluring when making choices of sneakers or gym shoes. But it is the evolving chemical technology that silently has led the popularity of shoes on rubber soles, pushing the limits of people every day from fitness enthusiasts to fashionistas on the streets.People clad in running shoes jog on pavement. (123rf)The springy footwear has optimized the experience of runners and pedestrians alike, cushioning impact from the ground and returning energy to the
Technology July 12, 2018
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Association affirms 12 cryptocurrency exchanges’ security standards
The Korea Blockchain Association on Wednesday gave a nod to the cybersecurity standards of 12 cryptocurrency exchanges in Korea, including major players such as Bithumb, Coinone, Korbit and Gopax. This came over two months after the association launched a self-regulatory inspection in May of 14 member exchanges among the total 23, upon agreement by the exchanges.Exchanges that gained self-regulatory affirmation were 12 out of 14: Dexko, Hanbitco, OKCoin Korea, Huobi Korea, Bithumb, Upbit, Neofra
Market July 11, 2018
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[Herald Interview] Crowdfunding platform Tumblbug calls for eased barriers to inbound payments
The Korea Herald is publishing a series of interviews on promising startups in the financial technology industry. This is the 18th installment. -- Ed. An online crowdfunding platform is a marketplace of ideas. And equipping that marketplace with a convenient payment tool is obviously key for the involved parties -- fundraisers with an idea and backers buying into the idea.For sponsors on Tumblbug, a startup operating an online rewards-based crowdfunding platform for content creators since 2011,
Market July 10, 2018
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IIS honors co-authors of paper on digital insurance with Shin Award
The International Insurance Society has selected co-authors of “Digital Agendas in the Insurance Industry: The Importance of Comprehensive Approaches” as the winners of Shin Research Excellence Award this year, according to Kyobo Life Insurance Tuesday. Recipients of the annual award in 2018 are Alexander Bohnert and Albrecht Frizche, both professors at Friedrich-Alexander University in Germany, and Shirley Gregor, a professor at Australian National University. The prize was gi
Market July 10, 2018
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Woori Bank invests W5b in 1st impact investment fund in Korea
Woori Bank has become South Korea’s first commercial bank dedicated to impact investing to create a quantifiable social and environmental impact along with financial gains. Woori Bank will invest 5 billion won ($4.5 million) into the private investment fund co-managed by Crevisse Partners and Lime Asset Management for 10 years, according to an announcement Monday. The 20 billion won impact equity fund will become Korea’s first impact investment fund, if launched in July as planned. O
Market July 9, 2018
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Ministry lauds LX in appraisal of public bodies
South Korea‘s state-owned Land and Geospatial Informatrix Corporation (LX) said Monday it won high ratings in a performance evaluation on Korean state-owned enterprises and quasi-public institutions for its “public-friendly” policies in 2017. LX headquarters in Jeonju, North Jeolla Province (LX)Of 123 institutions assessed by the Ministry of Strategy and Finance, the LX was one of the three in Korea that earned grade A in evaluation both on a curve and by absolute values, according to the state-
Industry July 9, 2018
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[Kosdaq Star] ‘YooHoo & Friends’ developer Aurora to climb on expanded global platform
This is the 58th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Aurora World Corporation, the South Korean plush toy manufacturer and supplier most-known for its global toy line “YooHoo & Friends,” is anticipating a leap forward in the second half of this year.A three-dimensional version of YooHoo & Friends computer-animated television adaption targeting 4 to 8-year-olds is set to be streamed through Netflix in the second half
Market July 8, 2018
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Kofia moves to prop up investment in India
Representatives from South Korean financial investment companies have discussed ways to boost ties with Indian capital market officials and to explore Korean investment opportunities in India during their four-day trip to the country.The team of representatives, composed of chief executives of three securities firms -- Daishin, IBK and Hanwha -- four asset management firms -- Samsung, Shinhan BNP Paribas, Kiwoom and Mirae Asset -- as well as Kwon Yong-won, head of the Korea Financial Investment
Market July 7, 2018
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Korea braces for impact from US-China trade war
South Korea is bracing for the impact of the opening blows in the United States’ trade war with China, while playing down the possibilities of immediate setbacks. Starting Friday at 1 p.m. Korean time, the US implemented 25 percent tariffs on $34 billion of Chinese trade. Immediately after the move, China vowed swift retaliation, calling the tariffs “typical trade bullying.” Prior to the US-China tit-for-tat, Asia’s fourth-largest economy at 8:15 a.m. held a pan-governmen
Economy July 6, 2018
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US import curbs to deal heavy blow on S. Korean economy: report
The looming US import curbs including tariffs and quotas on South Korean goods are expected to take a toll on Korea’s economic indicators, a report showed Thursday.In the wake of regulatory measures starting this year on steel, washing machines and solar cells, Seoul is likely to see some $2.5 billion cut in exports and 16,000 potential job losses here and abroad. According to a report released by the National Assembly Budget Office, a Korean steel import quota to the US -- equivalen
Market July 5, 2018
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Forex reserves in Korea top $400b
South Korea’s foreign currency reserves hit an all-time high for four consecutive months as of June this year, central bank data showed Wednesday. Rising reserves, coupled with the moderate level of foreign currency debt and expense in foreign trade, translate into Korea’s robust external stability, according to the government.The accumulated volume of foreign currency reserves including gold came to $400.3 billion in Korea, up $1.3 billion, or 0.3 percent, compared to the previous m
Market July 4, 2018
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