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South Korea’s Finance Vice Minister Kim Yong-beom warned on Dec. 8 that the ample liquidity level that arose during the COVID-19 crisis management procedure may trigger an overheating phenomenon in the assets market. He especially urged real estate market participants not to get carried away by ...
Mirae Asset Global Investments, one of South Korea’s largest asset management firms, said on Dec. 1 that it won a US court case against Chinese insurer Anbang Insurance Group over legal disputes involving a $5.8 billion deal to acquire luxury hotels. The Delaware Court of Chancery rejected Anban...
South Korea has decided to invest $9.8 million in green and digital projects in developing nations through the World Bank’s Korea Green Growth Trust Fund, the Ministry of Economy and Finance said on Dec. 1. The KGGTF, launched in 2011, is a Korean government-financed trust fund that has helped m...
While South Korea’s benchmark index hit an all-time record of 2,633.45 on Friday, a global market gauge also reached a new high, suggesting the country’s stock market may be overvalued. The Buffett indicator -- US investor Warren Buffett’s preferred market indicator -- marked 112.7 percent as o...
NH Financial Group Chairman Kim Kwang-soo has officially been tapped to lead the Korea Federation of Banks, a representative body of commercial banks, officials said on Nov. 27. The KFB board of directors unanimously approved Kim’s nomination as its 14th chairman during a general meeting held ea...
South Korean midsized automotive parts maker Myoung Shin Industry said on Nov. 25 that it is looking to raise as much as 91.2 billion won ($82.3 million) from its initial public offering on the nation’s benchmark Kospi early next month. “We are looking forward to raise our overseas sales from t...
Woori Financial Group said on Nov. 25 that it has set up a 200 billion won ($180 million) fund to invest in social infrastructure projects, called the “Woori Global Infra New Deal Fund.” In September the government announced its New Deal Fund, a state-led fund worth 20 trillion won aimed at inv...
A team of 14 lawyers representing South Korean app developers will report Google to the country’s antitrust watchdog, saying that its app market’s billing system is in violation of fair trade laws. According to a statement from the lawyers on Monday, they will report Google to the Fair Trade Co...
South Korean banking groups are set to tighten lending rules for overdraft accounts, lowering borrowing limits amid government efforts to put a brake on the nation’s fast-growing household debt, industry data showed on Nov. 20. The five major commercial banks here -- KB Kookmin, Shinhan, Woori,...
South Korea’s top financial regulator said on Nov. 18 that it has decided to relax regulations on five promising services proposed by local companies in continued efforts to spur innovation in the finance sector. The move is part of the government‘s “regulatory sandbox” policy, which took eff...
The price of largest cryptocurrency Bitcoin reached a recent high dating back nearly three years, rising more than 4 percent within 24 hours amid investors’ rising demand for safe investments, digital currency data showed on Nov. 18. According to US-based cryptocurrency data provider CoinMarketC...
South Korean cosmetics giant Amorepacific said on Nov. 17 that it would invest 3 billion won ($2.7 million) in Dmil, a multi-channel network company. According to Amorepacific, Dmil is a media contents firm, producing and selling cosmetics-related content and items, partnering with 250 content cr...
Amazon is partnering with Korean e-commerce platform 11st to avail purchase of its goods to Korean customers, 11st operator SK Telecom said on Nov. 16. According to SKT, which is SK Group’s mobile carrier that operates online shopping platform 11st, the two made an agreement for Amazon’s equity...
Despite the pandemic increasing the risk of doing so, institutional investors in South Korea said they would venture into unfamiliar nonbank financing bets, such as private debt funds. Representatives of Korean investors said last week at PDI Seoul Forum Virtual Experience 2020 that they are dev...
Financial affiliates of South Korea’s largest conglomerate Samsung Group announced on Nov. 12 that they would halt investment projects linked to coal-power businesses as part of their efforts to run operations in an environmentally responsible manner. Samsung’s insurance arms Samsung Life Insur...
Retail inflows at 2-year low as recession worries mount
Hatchback is back
Calls grow over legislation of digital data inheritance
Fiscal chief vows help with falling exports
Internet-only banks lure customers with Tamagotchi-like savings accounts, digital piggy banks
Korea suffers all-time high trade deficit in 1st half
Hyundai Motor Group to establish US corporate body in Delaware
LG Electronics, S.M. Entertainment launch home fitness service