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South Korean retail investors are returning to US equities, ramping up purchases of semiconductor stocks and benchmark exchange-traded funds as the won strengthens and the Kospi rally loses steam. Net purchases of US stocks by local investors reached $1.95 billion between July 1 and 16 on a settlement basis, the highest monthly total in five months, according to the Korea Securities Depository. The rebound follows an earlier slowdown, when retail investors turned net sellers in April and May bef
Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group that oversees the group's hotel and golf course businesses, is set to boost its planned ownership of cryptocurrency exchange Korbit to 97 percent from 92 percent. According to a revised regulatory filing on Tuesday, Mirae Asset Consulting is set to purchase an additional 1.59 million Korbit shares for 7.89 billion won ($5.32 million). The transaction follows a decision by a corporate shareholder to sell its remaining stake in Ko
South Korea's financial authorities are considering capping financial holding company chairs at two three-year terms, a governance overhaul that could reshape leadership succession at the country's biggest banking groups and reignite debate over regulators' role in corporate governance. Industry reports Tuesday said the proposal would bar chairs from serving a third term, limiting their tenure to six years. It could also require reappointments to win support from at least two-thirds of voting sh
Bae Jae-kyu, CEO of Korea Investment Management and widely regarded as the father of Korea's ETF market, urged investors to avoid single-stock leveraged ETFs despite his firm managing the products. The warning is highly unusual, marking a rare case of an asset manager publicly discouraging investment in products it offers. In a Facebook post Monday, Bae wrote, "People may criticize me for saying this, but I hope investors stop investing even now." "As the head of an asset manager that operates s
BlackRock, the world's largest asset manager, has increased its stakes in Korea Aerospace Industries and battery materials maker EcoPro to more than 5 percent, becoming a major shareholder in both companies. The US asset manager now holds a 5.02 percent stake in KAI and a 5.01 percent stake in EcoPro, according to regulatory filings Tuesday. BlackRock had gradually accumulated shares in both companies over time. Its previous holdings stood at 4.95 percent in each company, and the latest purchase
Shinsegae Group said Tuesday it has partnered with global real estate developer OKO Group to launch hospitality development projects for Aman Group, the operator of the premium hotel and resort brands Aman and Janu. Under the agreement, the two companies plan to establish a joint venture with an initial investment of $500 million to develop Aman and Janu hotels and residences. They also agreed to collaborate on mixed-use commercial real estate projects both in Korea and overseas. The partnership
South Korea's Financial Supervisory Service ordered asset managers to halt advertising for single-stock leveraged exchange-traded funds with only a few hours' notice, an unusually abrupt directive that left promotional campaigns in place over the weekend, industry sources said Monday. The FSS sent the notice late Thursday after the Financial Services Commission, the FSS and the Korea Exchange jointly unveiled measures to tighten oversight of the products. The notice instructed firms to "immediat
Should someone who owns one ultra-expensive Seoul apartment receive more tax protection than a person with several modest homes in regional cities? And does owning only one property necessarily make it a home rather than an investment? Those questions are at the heart of what could become the biggest rethink of South Korea's property tax system in years. Long centered on the distinction between single-home and multiple-home owners, the system is now being reassessed around a different set of cri
Following the Homeplus debacle, MBK Partners has come under fresh scrutiny over restructuring efforts at its portfolio company Osstem Implant, the country's largest dental manufacturer. Osstem Implant has reportedly been carrying out a de facto restructuring under which some employees are relieved of their existing duties and required to find new positions within the company on their own. Those who fail to secure a new role are reportedly placed on waiting-for-reassignment status until another p
Mirae Asset Financial Group’s acquisition of local cryptocurrency exchange Korbit marks the first takeover of a digital asset exchange by a financial group in South Korea. The move signals regulators' growing willingness to allow traditional financial groups to expand into digital assets. Earlier this month, the country's antitrust watchdog approved Mirae Asset Consulting's acquisition of a 92.06 percent stake in Korbit. The unit is the de facto holding company of the brokerage-led financial gro
Chipotle bets on Korea for first bite of Asia
Samsung vs. LG battle for AI cooling heats up
Musinsa posts record earnings on offline, global expansion
One purchase every 0.9 second: Olive Young foreign sales top W1tr
Samsung, SK hynix tax payments surge 167% on chip boom
SK Chemicals eyes European can-coating market
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