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As the US-China rivalry reshapes global supply chains around security and resilience, global investors are increasingly viewing South Korea as a long-term manufacturing beneficiary rather than simply a China alternative. Against that backdrop, Hanwha Asset Management is pursuing what it calls a “K-portfolio expert” strategy — packaging Korea’s strategic manufacturing sectors into globally listed exchange-traded funds through partnerships with overseas financial platforms. “Korea is moving beyond
NH NongHyup Financial Group said Thursday it had signed a strategic partnership with Mayapada Group, a prominent Indonesian conglomerate spanning banking, health care, property, retail and media. The memorandum of understanding was signed Wednesday at Mayapada's headquarters in Jakarta, with NH NongHyup Financial Group Chairman and CEO Lee Chan-woo and Mayapada Group founder and Chairman Dato Sri Tahir in attendance. Mayapada is controlled by Tahir, one of Indonesia's best-known business figures
Citibank Korea said Tuesday it will provide $100 million in syndicated financing alongside the Export-Import Bank of Korea to support Korean equipment parts supplier KoMiCo’s expansion in the US semiconductor market. The financing agreement was signed on Monday at KoMiCo’s headquarters in Anseong, Gyeonggi Province. Citibank Korea Commercial Banking Head Hwang Jae-won, KoMiCo CEO Choi Yong-ha and Korea Eximbank Senior Executive Vice President Kim Jin-seop were in attendance. KoMiCo specializes i
Mirae Asset Global Investments said Monday its assets under management had reached 624 trillion won ($415 billion), surpassing 600 trillion won for the first time. The company said its AUM has expanded rapidly in recent years, climbing from about 250 trillion won at the end of 2022 to more than 300 trillion won in 2024, before surpassing 500 trillion won in 2025. A major growth driver has been its global ETF business led by subsidiary Global X, which has benefited from rising demand for thematic
Global credit ratings agency Fitch Ratings on Friday affirmed South Korea's AA- sovereign rating with a stable outlook, citing the country's strong external finances, resilient exports and stable macroeconomic performance despite geopolitical risks, and structural challenges. "We think Korea has sufficient external and fiscal buffers to manage global challenges in the near-term," Sagarika Chandra, Fitch Ratings' Asia-Pacific sovereign ratings director, said at a press conference in Seoul. Chandr
KB Financial Group, Shinhan Financial Group and Woori Financial Group have warned US investors that government pressure to expand policy finance and support vulnerable borrowers could weigh on profitability and asset quality, highlighting risks that were not disclosed in their Korean filings. The banking groups, all listed on the New York Stock Exchange, included the disclosures in annual reports for fiscal 2025 filed with the US Securities and Exchange Commission. In the April 28 filing, KB Fin
Kakao Pay is ramping up its offline payment expansion, aiming to grow monthly offline payment users to 10 million by 2027 as competition intensifies in Korea’s digital payments market. At a press briefing Tuesday, the financial technology company said it currently has about 6 million monthly offline payment users and plans to accelerate growth through QR-based ordering services, merchant partnerships and artificial intelligence-powered payment features. “Our goal is to build inclusive payment in
MBK Partners, the South Korean private equity firm engaged in a prolonged control battle over Korea Zinc, has pushed back against concerns over potential Chinese influence following its decision to hire an additional US lobbyist to handle matters related to the US watchdog for foreign investment. According to US Senate lobbying disclosure filings, MBK’s Tokyo office recently hired The McKeon Group, known for its expertise in defense and national security affairs, to advise on “issues dealing wit
The US subsidiary of Mirae Asset Securities said Friday it would participate in the Tokenization Working Group hosted by the Depository Trust & Clearing Corp., the largest financial market infrastructure company in the US. The DTCC oversees key settlements and depositing infrastructure in the US capital market, leading discussions on stock market infrastructure development based on tokenization and standardization with global financial firms. Global names in finance and digital assets are partic
South Korean insurers' overseas profit jumped nearly 24 percent last year, but the gains came largely from Hanwha Life's expansion into banking and securities, underscoring how non-insurance deals are reshaping the industry's overseas earnings while core operations lose momentum. The Financial Supervisory Service said Thursday that local insurers' overseas operations posted a combined net profit of $197 million in 2025, up 23.8 percent from a year earlier. The figure covers 46 overseas units in
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