Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
New financial centers may emerge amid COVID-19 disruption: APG
The unraveling disruption caused by the novel coronavirus might dent the role of the traditional financial hubs, while surprising candidates are likely to take their place with their own speciallizations in the wake of decentralization playing out due to COVID-19, said APG Asset Management Chief Executive Ronald Wuijster on Tuesday. Surprising candidates could be Busan in South Korea, Casablanca in Morocco and Malaysia‘s Kuala Lumpur, Wuijster said during a speech at the Jeonbuk Internati
Market Sept. 1, 2020
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KTCU to commit W150b to VC investment
South Korean institutional investor the Korea Teachers’ Credit Union said Tuesday that it planned to commit 150 billion won ($126.8 million) to 10 external partners this year to create blind pool funds for venture investments. KTCU will pick three large venture capital houses, four mid-sized VCs and three rookie VCs. Eligible candidates must be based in Korea. Applications will be accepted by Sept. 24. Selected partners will be announced in late November and will have to complete the i
Market Sept. 1, 2020
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Korean pension funds cushion pandemic impact in H1
South Korea’s pension funds took positive returns in the first half of this year, as they managed to weather the impact of the novel coronavirus on financial markets across the globe, disclosures showed Monday. The National Pension Service, Korea’s largest public pension fund with 752.2 trillion won ($635.5 billion) assets under management, posted a 0.5 percent return Friday as its stock losses were offset by fixed-income assets and alternative investments. By asset classes, from
Market Aug. 31, 2020
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Colliers exec advises Korean investors to join debt financing for US warehouses
South Korean institutional investors may see opportunities in the US commercial real estate market as industrial properties in the country garner traction amid the resumption of sales activities, an executive at Colliers International said Thursday. While pointing out that major global blue-chip investors are increasingly tapping into top-tier warehouses in the US, Jeff Black, executive vice president of the company, said Koreans may have room to partner with them as long as they are willing to
Market Aug. 30, 2020
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Top 10 Kospi stocks' market cap approaches 45%
South Korea’s 10 largest stocks trading on the main bourse Kospi are seeing its combined market cap account for 45 percent of Kospi constitutents‘ total market cap as local retail investors flock to the large-caps betting on changes in the domestic industry. According to data by the Korea Exchange, the top 10 large-caps on the Kospi stock market took up 44.78 percent of Kospi’s market cap on average in August, up over 11 percentage points on-year. The figure has been on a co
Market Aug. 30, 2020
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S. Korea to extend short-selling ban until March
South Korea’s top financial regulator said Thursday its temporary ban on short-selling activities of all listed Korean shares will be extended to March 2021, immediately after the current six-month restriction expires in September. The Financial Services Commission’s decision is meant to keep the stock market volatility at bay as the impact of the coronavirus still persists across the nation. The decision was made as FSC collected written agreements from its commissioners after the
Market Aug. 27, 2020
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Macquarie IM Korea names new CEO
Macquarie Investment Management has named Bastiaan Jeroen van Buuren as its new chief executive to oversee its Korean operation, a filing showed Thursday. The change of leadership has been effective since Aug. 18. Van Buuren replaced Lee Kyung-soo, who served for 16 months at the top post. Joining the Australian asset management house in 2018, van Buuren was head of Asia Distribution based in Hong Kong. He joined Macquarie IM Korea’s board in June 2020. Macquarie IM acquired ING Inve
Market Aug. 27, 2020
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Shinhan BNP Paribas closes W690b private debt fund
Shinhan BNP Paribas Asset Management said Thursday it has raised a total of 690 billion won ($582 million) commitment to close its latest private debt fund, designed to offer nonbank loans to support mergers and acquisitions activities. Backers of the fund include its affiliates Shinhan Bank and Shinhan Life Insurance, under the umbrella of the nation’s largest Shinhan Financial Group. The Seoul-based asset management house’s new blind pool fund will extend loans to an acquirer by
Market Aug. 27, 2020
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KB Kookmin expands presence in Indonesia with acquisition of local lender
South Korea’s largest commercial lender KB Kookmin Bank said Wednesday it is now in the final stage of acquiring Indonesia-based Bank Bukopin. The Seoul-headquartered bank said its shareholders have approved its purchase of 33.1 percent of new shares in Bank Bukopin. The latest deal came after the Korean bank bought a 22 percent stake in the Indonesian firm in 2018 and an additional 11.9 percent in July. KB Kookmin said it has paid a combined 400 billion won ($337.1 million) over the pas
Market Aug. 26, 2020
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Hedge fund sells off stake in local builder Taeyoung E&C
South Korean hedge fund Must Asset Management is moving to divest its stake in domestic builder Taeyoung Engineering & Construction, a month after it declared an end to its shareholder engagement, according to a disclosurce Wednesday. The news comes after yearlong efforts by Must to shake up the governance structure of Taeyoung E&C, which led to spinoffs of the builder’s businesses outside the construction sector. Since July 20, Must had offloaded a 4.61 percent stake in Taeyou
Market Aug. 26, 2020
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[M&A Weekly] Toshiba, Carlyle manage to exit failing Korean equity investment
Foreign investors in two Korean companies -- Unison and Yakjin Trading -- managed to sell their stakes earlier this week, but only at significant losses, disclosures showed Tuesday. The sale price was significantly lower than what the investors -- Japanese conglomerate Toshiba and US private equity firm Carlyle Group -- had paid at least seven years before to acquire the assets. Toshiba, the largest shareholder of wind turbine maker Unison, has agreed to sell a 13.9 percent stake, or 15.5 mil
Market Aug. 25, 2020
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Korean investors join IFC-led financing package for infra projects in APAC during fiscal year 2020
Korean investors have partly invested in a $650 million financing package for two infrastructure projects in Asia-Pacific countries during its fiscal year from July 2019 to June 2020, International Finance Corp. said in an announcement Monday. Of the major private sector investment deals in 12 Asian countries supported by IFC, Korean entities have invested in two projects including a 216-megawatt hydroelectric plant on the Trishuli River in Kathmandu, Nepal worth $450 million. The other on
Market Aug. 25, 2020
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Seoul Fintech Lab to house 30 more tenant startups
Korean startup incubation program Seoul Fintech Lab plans to house 30 new tenant startups starting from October this year, its operator said Monday. Of the 30 new tenant enterprises, five will be non-Korean while the rest will comprise Korean companies. Eligible applicants must be dedicated to financial technologies for the Asian market and their business must not be more than 7 years old, a Seoul Fintech Lab official said. Applications will be accepted online until Sept. 11. Qualified partic
Market Aug. 24, 2020
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Buyout investors eye Korean waste management firms
Buyout investors at home and abroad are zeroing in on waste management companies in South Korea, as they hope to enjoy rising income over soaring demand for their services, according to market watchers on Monday. Such buyout bids, in turn, present exit opportunities to foreign capital holding majority stakes in such companies, they said. Last week, international investment firm Kohlberg Kravis Roberts closed the acquisition of 100 percent in medical and industrial waste management f
Market Aug. 24, 2020
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[Herald Interview] Shared space operator FastFive turns to small buildings for sustainable profits
Amid the growing need to have a fresh approach in the already saturated shared space industry, local company FastFive is turning to small commercial building landlords to minimize initial expenditures and build a sustainable profit structure. Kim Dae-il, chief executive officer of FastFive, told The Korea Herald in a recent interview that the company is looking to forge more partnerships with landlords of small commercial buildings instead of signing long-term lease contracts with landmark bui
Market Aug. 23, 2020
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