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The Korea Herald

Markets

August 26, 2020
Kakao Games aims to raise up to W384b on stock market debut

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 ...
August 25, 2020
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 Aug. 25. The sale price was significantly lower than what the investors -- Japanese conglomerate Toshiba and US private equit...
August 25, 2020
Asset management firms’ net profits soar 46% in Q2

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...
August 19, 2020
Shinhan Alpha REIT to buy Twincity Namsan offices for W238.6b

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...
August 18, 2020
KB acquires Amazon-owned distribution facility in Edinburgh

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...
August 13, 2020
MSCI index adds 3 Korean biotech stocks

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 ...
August 11, 2020
Gen2 Partners fund freeze headache for brokerages, banks

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...
August 11, 2020
Talks for HDC-Asiana deal likely to prolong

Both HDC Hyundai Development Company and Kumho Industrial said on Tuesday that arrangements for face-to-face negotiations over the acquisition of Asiana Airlines are ongoing, which may effectively go on after the Wednesday’s deadline. One official at Kumho confirmed that the deadline no longer h...
August 05, 2020
Kakao Bank outruns traditional banks in monthly active users

South Korea’s largest internet-only bank said on August 5 that its number of monthly active users in June surpassed 11 million — the highest in the nation’s entire bank industry. Kakao Bank’s increasing number of users also boosted its earnings in the first half with its net profit standing a...
August 04, 2020
K bank ups ante with online mortgage service after capital raise

In its first step since resuming operation, internet-only lender K bank unveiled a mobile mortgage loan service on August 4, which allows customers to borrow money without visiting brick-and-mortar banking branches. Utilizing data scraping technology to gather customers’ credit information onlin...
August 04, 2020
Kakao Games pushes for September IPO

Kakao Games, the games unit of Korea’s mobile giant Kakao, has submitted a registration statement to the Financial Services Commission, hoping to get listed on the nation’s tech-heavy Kosdaq market in September. By issuing 16 million new common shares, at a price between 20,000 won and 24,000 w...
July 31, 2020
Global X lists telemedicine, digital health ETF on Nasdaq

The New York-based provider of exchange-traded funds Global X has listed its ETF -- which invests in global telemedicine and digital health companies -- on the Nasdaq, parent company Mirae Asset Global Investments said on July 31. The product -- the Global X Telemedicine & Digital Health ETF -- t...
July 30, 2020
Korea allows large firms to hold venture capital units

South Korea will allow holding companies of conglomerates to run corporate venture capital units in order to boost investment in startups and invigorate the economy, officials said on July 30. The government said it will also prepare tools to quell concerns of side effects, such as the excessive ...
July 29, 2020
Shinhan chosen as preferred bidder for Doosan’s VC unit

Shinhan Financial Group, a major banking group in South Korea, has been selected as the preferred bidder for the acquisition of a venture capital company under cash-strapped conglomerate Doosan, sources said on July 29. Shinhan, a financial giant that has no venture capital unit, has been eyeing ...
July 28, 2020
Stock transactions driven by retail investors jump in H1

Stock trading transactions on mobile platform Stockplus more than doubled in the first half of the year, mainly due to retail investors, platform operator Dunamu said Tuesday. The transaction volume between in the January-June period rose 117.5 percent on-year, with the accumulated transactions e...

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