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South Korea still has a long way to go to eliminate the Korea discount, with the National Pension Service positioned to drive the next phase of corporate governance reform, governance specialist Park Yoo-kyung said. Park spent 17 years overseeing responsible investment and corporate governance in the Asia-Pacific region at APG, the asset manager for Dutch pension fund ABP. She currently serves as a board member and audit committee chair at the Tara Climate Foundation. She has also been nominated
South Korea’s Industry Ministry on Tuesday denied that semiconductors are being considered as the first project under Seoul’s US investment commitments, as Industry Minister Kim Jung-kwan holds last-minute talks in Washington over the package and related tariff issues. “It is not true that semiconductors are being discussed as a candidate for the first strategic investment project in the US,” the ministry said in a statement. The denial followed a local newspaper report that Seoul had initially
Madison Huang, the eldest daughter of Nvidia CEO Jensen Huang and the chipmaker’s senior director of product marketing for omniverse and robotics, will visit LG Electronics’ humanoid robot data factory in Seoul on Tuesday for talks on robotics cooperation, industry sources said Monday. Madison Huang is expected to meet senior LG Electronics officials behind closed doors at the company’s research and development campus in Yangjae, southern Seoul, to discuss potential collaboration in humanoid rob
Kakao Bank plans to cancel about half of its treasury shares and reserve the rest for employee compensation, a move that could serve both its shareholder-return goals and efforts to defuse an ongoing pay dispute. The internet-only lender said it planned to seek approval for its treasury share retention and disposal plan at its 2027 annual shareholders' meeting, with the 270,000 shares to be canceled within the legally required period. As of end-June, Kakao Bank held 532,334 treasury shares. The
SK Group Chair Chey Tae-won’s latest divorce appeal has reopened two questions: How much further could his 944 billion won ($668 million) property division award fall, and how much of his SK Inc. stake he may need to tap to pay it? Chey appealed Friday against the Seoul High Court’s July 24 ruling in his divorce case with Roh Soh-yeong, director of Art Center Nabi, sending the dispute back to the Supreme Court. On remand, the high court ordered Chey to pay 944 billion won in cash, down 436.8 bil
A Supreme Court ruling against Samsung Securities over its 2018 “ghost shares” scandal has raised the stakes for Korea’s brokerages, showing that internal control failures can trigger civil liability to investors as well as regulatory penalties and trading losses. The top court on Wednesday ordered Samsung Securities to pay about 1.86 billion won ($1.31 million) in damages to the National Pension Service, upholding the compensation awarded by a lower court. The NPS had initially sought 29.9 bill
Viva Republica, the operator of South Korean fintech giant Toss, reported an over 50 percent increase in revenue in the first half of the year, driven by growth across its in-app services. Consolidated revenue stood at 1.89 trillion won ($1.34 billion), up 53.2 percent from a year earlier. Consolidated operating profit rose 59.2 percent to 246.1 billion won, while net profit jumped 120.2 percent to 232.8 billion won. Revenue growth outpaced the increase in expenses, driving both top-line growth
With the acquisition of KDB Life, Korea Investment Holdings is set to broaden its business portfolio beyond its brokerage-led operations, marking a major step in its push to strengthen its presence across the financial sector. Policy lender Korea Development Bank selected Korea Investment Holdings as the preferred bidder for KDB Life, the finance group announced through a regulatory filing Thursday. The deal involves 116.32 million common shares in KDB Life, representing a 99.75 percent stake. T
Samsung Life Insurance and Samsung Fire & Marine Insurance earned a combined 3.27 trillion won ($2.3 billion) in the first half, with both posting double-digit profit growth despite sharply different earnings drivers. Samsung Life reported 1.89 trillion won in net profit attributable to controlling shareholders, up 35.8 percent from a year earlier, according to disclosures released Thursday. Consolidated net profit rose 33.8 percent to 1.97 trillion won. Samsung Fire’s net profit attributable to
The Korea Agro-Fisheries & Food Trade Corporation (aT) said Thursday it held an online briefing with the Ministry of Agriculture, Food and Rural Affairs on non-tariff barriers to Korean food exports to Southeast Asia for food exporters and industry officials. The briefing, held Wednesday, was organized to help Korean exporters proactively respond to regulatory changes in Indonesia and Vietnam, two major export markets for Korean food products. The Korea Food Research Institute and local experts
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