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The Financial Supervisory Service on Thursday warned retail investors to be cautious of initial public offerings launched by promising but still loss-making companies, stressing that short-term gains may not be achievable. “As the rules allow (loss-making) companies (but with growth potential) t...
South Korean investors holding $550.3 million worth of shares in Chinese drone maker EHang Holdings appear to be left in disarray as the Nasdaq-listed firm’s stock price plummeted on a short seller report on Feb. 16. EHang Holdings was the ninth-largest stock listed on the United States bourse to...
The nickname “ants” has been used to describe South Korean retail investors, as a diligent but minor group seeking profit from the market with little in the way of knowledge or funds. The recent stock craze that pushed up the nation‘s main bourse Kospi, however, shows how those minor players are...
Consumers who order more than 20,000 won ($18.30) on designated delivery apps with a credit card will get 10,000 won as a cash back reward or discount, the government said on Dec. 29. Currently, seven delivery apps including Baedal Minjok, Yogiyo, Payco and Coupang Eats are participating, and four...
An exchange-traded fund operated by the Vietnam branch of South Korea‘s leading asset management firm Mirae Asset Global made a market debut in the Southeast Asian country‘s stock market, the company said on Dec. 9. The so-called Mirae Asset VN30 Exchange Traded Fund is designed to invest in 30...
South Korea’s financial behemoth Shinhan Financial Group is slated to gain full ownership of its newly-acquired subsidiary Neoplux -- a former venture capital arm under Doosan Group -- as soon as the two sides complete a small-scale stock exchange at the end of this month, a filing showed on Dec. ...
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,...
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