May 14, 2021

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EDITOR'S PICKS

• Markets 
  

  Real estate investors drift away from Seoul, toward logistics

  　Real estate investors searching for deals in South Korea were seen shifting their attention away from the capital city of Seoul in the first quarter of 2021 as demand for logistics assets rose, data showed on May 13. 　Commercial property deals that closed in Seoul during the first quarter with tickets of over $10 million added up to $2.2 billion, down 25.8 percent on-year, while investment in other parts of Korea rose 3 percent to $2.6 billion, according to data from New York-based capital ma

• Markets 
  

  Moody’s maintains S. Korea’s credit rating at Aa2

  　Global ratings firm Moody’s has kept the credit rating of South Korea at Aa2, affirming the outlook at stable, according to the Ministry of Economy and Finance on May 12. 　The US rating firm holds discussions with the ministry and the state-run Bank of Korea on a regular basis before announcing a credit rating report for the nation. 　The rating agency cited the nation’s strong economic fundamentals, and quick economic recovery from the coronavirus pandemic as some of the reasons

• Markets 
  

  HMM, Hybe, SKC, GC Pharma join MSCI Korea index

  　Morgan Stanley Capital International announced on May 12 that it has added four South Korean stocks -- HMM, Hybe, SKC and GC Pharma -- to its global and regional equity index, as part of May rebalancing. 　The US company also removed seven listed firms -- Hyundai Marine & Fire Insurance, Hanwha, GS Retail, Samsung Card, Lotte Corp., Korea Gas Corporation and Ottogi -- from the MSCI Korea Index. 　As a result, the regional equity index’s constituents of large- and mid-cap stocks fell

• Markets 
  

  Mirae Asset gets approval for entry into short-term financing market

  　South Korea’s financial regulator Financial Services Commission has allowed Mirae Asset Securities to issue short-term financing bills after a rigorous review, according to sources on May 12. 　With the final approval, the brokerage firm will have more financial leeway to manage bigger funds than a regular securities firm, launching it one step forward to becoming a so-called mega investment bank. 　A mega investment bank can issue promissory notes with a maximum limit of 200 percent of i

• Markets 
  

  Nonfungible token of historic human-AI Go battle up for auction

  　A nonfungible token of the historic match between between South Korean Go master Lee Se-dol and Google’s artificial intelligence Go player AlphaGo has been auctioned off as a digital content on OpenSea, the world’s largest marketplace for NFTs, officials said May 10. 　A nonfungible token is a digital recreation of media contents such as videos and photos that is traded via the blockchain. Upon purchase through the internet auction site, investors can declare ownership of NFTs, whi

• Markets 
  

  Korean banks brace for India’s COVID crisis

  　South Korean banks have launched emergency safety measures for their business units in India, as the country grapples with the world’s worst COVID-19 outbreak. 　The spiking coronavirus infections and deaths in the world’s second-most-populous nation present yet another major hurdle for the banks’ overseas expansion goals, after Myanmar’s military coup in February. 　According to the watchdog Financial Supervisory Service, eight Korean banks had entered the Indian mark

• Markets 
  

  [Market Close-up] Financial firms scurry to forge cross-industry partnerships for data-driven innovation

  　Cross-industry partnerships in the financial sector are in full swing as banks seek to transform personal data into a new revenue source, ditching their reliance on interest rates. 　Commercial lenders and credit card companies have been rushing to forge alliances with mobile carriers and retailers to compile large volumes of customer data from business partners in order to provide personalized products and to fuel data-driven marketing activities. 　The competition was ignited by the governme

• Markets 
  

  SKIET shares lose vitality after Kospi market debut

  　SK ie technology, a battery materials subsidiary of refinery and battery firm SK Innovation, rose on its market debut on the South Korean main board on May 11, but lost value over the trading day, despite rosy market forecasts. 　As soon as the opening bell rang, shares of SKIET started off at 210,000 won ($187.64), doubling its initial public offering price, but closed at 26.43 percent down from their opening price, at 154,500 won. On the first day of trading, the company’s market capit