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The Korea Herald

Markets

December 08, 2020
Vice minister warns against market overheating during crisis management

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 ...
December 01, 2020
Mirae Asset wins lawsuit over $5.8b US hotel deal

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...
December 01, 2020
S. Korea invests $9.8m in World Bank green trust fund

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...
November 30, 2020
Warren Buffett’s favorite market indicator suggests Korean stocks may be overvalued

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...
November 27, 2020
Federation of Korean banks appoints NH Financial chief as new head

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...
November 25, 2020
South Korean supplier to Tesla eyes December IPO on Kospi

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...
November 25, 2020
Woori Financial sets up infrastructure fund to promote New Deal project

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...
November 23, 2020
Complaint against Google to be filed with FTC

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...
November 20, 2020
S. Korean banks adopt stricter lending rules for overdraft accounts

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,...
November 19, 2020
FSC to ease regulations on 5 innovative financial services

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...
November 18, 2020
Bitcoin price hits almost 3-year high as investors seek low-risk assets

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...
November 17, 2020
Amorepacific invests W3b in beauty content producer firm

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...
November 16, 2020
Amazon taps into Korea by investing in 11st

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...
November 15, 2020
Korean institutional investors turn to fast-growing private debt market

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...
November 12, 2020
Samsung’s financial arms going green

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...

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