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South Korea’s central bank said on Sept. 2 it has launched research into adopting artificial intelligence deep learning to extract economic growth forecasts, amid growing uncertainties stemming from the coronavirus pandemic. The Bank of Korea expressed anticipations of predicting the nation’s g...
To keep stock market volatility at bay amid concerns that COVID-19 will continue to affect the market next year, South Korea has extended its temporary ban on short-selling activities of all listed Korean shares to March 2021. And the government is set to toughen penalties against illegal acts such...
South Korean institutional investor the Korea Teachers’ Credit Union said on Sept. 1 that it planned to commit 150 billion won (US$126.79 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-siz...
The initial public offering of Kakao Games is likely to be the most successful market debut in South Korea’s history in terms of the number of applicants for its shares, according to market watchers on August 31. In the two-day book building for institutional investors that wrapped up on Thursda...
JB Financial Group said on August 31 that it has launched a brokerage unit through its newly acquired Morgan Stanley Gateway Securities, a midsized brokerage firm headquartered in Hanoi, Vietnam. It has changed the company name to JB Securities Vietnam as part of a move to officially start operatio...
Shares of South Korea’s top mobile messenger operator Kakao and top portal operator Naver continued their bullish run on the local stock market on August 27, on investors’ profit-taking drive from “untact” -- contactless -- sectors amid the second round of the COVID-19 pandemic. Kakao’s stoc...
KB Financial Group said on August 27 that it has received approval from the Financial Services Commission to acquire Prudential Life Insurance of Korea. In April, the South Korean financial giant, inked a deal with Prudential to buy a 100 percent stake in the insurance company for some 2.3 trilli...
South Korean firm Koscom disclosed Wednesday that it plans to acquire HSBC Fund Services Korea, to dive into the asset management sector. After a year of preparation for the takeover, the company has signed an agreement with the United Kingdom-based HSBC to acquire a 92.66 percent stake in the fu...
Kakao Games, the gaming arm of local mobile messenger giant Kakao, said Wednesday it is looking to raise as much as 384 billion won ($298 million) in its initial public offering on the nation’s tech-heavy Kosdaq in September. The game developer is offering around 16 million new common shares in ...
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 Aug. 25. The sale price was significantly lower than what the investors -- Japanese conglomerate Toshiba and US private equit...
The combined net profits of asset management firms in South Korea jumped 46 percent on-year during the April-June period this year amid the local stock market’s sharp rebound, data showed on August 25. The net income of 10 companies here came to 145.8 billion won ($122.95 million) in the second...
Shinhan Alpha REIT rolled out plans to buy 37,600 square meters of office space in Twincity Namsan in central Seoul for 238.6 billion won ($201.6 million) from KB Asset Management, a filing showed Aug. 19. The property occupies 20 floors of the 30-story commercial building. Built in 2015 and locat...
Local brokerage firm KB Securities has acquired a distribution warehouse operated by US ecommerce giant Amazon in Edinburgh, Scotland for some 100 billion won ($84 million), according to news reports on August 18. In partnership with local investment firm LB Asset Management, the subsidiary of KB...
Morgan Stanley Capital International announced on August 13 it has added three South Korean biotechnology stocks to its MSCI Korea Index. This comes as the technology prowess of the companies has come under the limelight during the novel coronavirus outbreak and subsequently drove up their stock ...
South Korean financial institutions associated with Hong Kong-based hedge fund manager Gen2 Partners are in a predicament as they struggle to ensure the investment -- sold by them -- could be redeemed later on. Brokerage firms here that sold Gen2 Partners’ funds, invested in the funds or issued d...
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