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The Ministry of Science and ICT on Sept. 8 provided advance notice of its ordinances under the revised Telecommunications Business Act, which includes clauses that will bind foreign platform operators like Netflix and YouTube to share costs in securing stable services. The revision, dubbed the ”...
Ssangyong Cement Industry has proposed reducing its equity capital to pursue higher dividend and enhance shareholder value. Market watchers say the move makes the case for a possible exit of South Korea‘s second-largest private equity house Hahn & Co. from the nation’s No. 1 cement maker by marke...
Health and beauty store Olive Young said on Sept. 4 it was preparing to apply for an initial public offering in 2022. CEO Koo Chang-gun announced the decision on the company’s in-house communication app “Olive Lounge” on Wednesday where he said work to file for an IPO in 2022 would start next ...
Despite months of back-and-forth and attempts at breakthroughs, the acquisition talks between HDC Hyundai Development Company and Asiana Airline are likely to fall apart, according to reports on Sept. 3. In an email Wednesday, the building company once again told Korea Development Bank, the airli...
With Big Hit Entertainment, the label behind K-pop sensation BTS pursuing a public initial offering next month, investors appear to be increasingly drawn to South Korea‘s entertainment stocks. Some market analysts also painted a rosy picture of the scheduled IPO, forecasting that Big Hit will co...
Financial intelligence firm PEI is poised to host this year‘s Infrastructure Investor Seoul Summit virtually on Sept. 8, the company said on Sept. 2. The event comes as the London-based company looks to provide a virtual place for the global infrastructure investing community to connect with Sout...
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 ...
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