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Korea Exchange Chair and CEO Jeong Eun-bo pitched South Korea’s capital market reforms to global investors in New York on Thursday before signing a cooperation agreement with the New York Stock Exchange. The KRX hosted its Global Roadshow with BofA Securities at Bank of America Tower, drawing about 30 major institutional investors. Jeong outlined recent improvements to Korea’s capital market system and efforts to attract a broader range of investors, according to the exchange. He later signed a
Build chips in America or pay to sell them there. US President Donald Trump's administration has revived its push for targeted semiconductor tariffs, raising pressure on Samsung Electronics and SK hynix to expand US production or face duties on chips made overseas. Commerce Secretary Howard Lutnick said companies manufacturing in the US would receive tariff relief, while those relying on foreign production should expect to pay. “What you’re going to see is targeted, thoughtful tariff policy that
The Export-Import Bank of Korea is exploring financing support for Korean companies expanding into India’s shipbuilding, steel and critical minerals sectors, the state-run lender said Thursday. Korea Eximbank Chairman and CEO Hwang Ki-yeon met Indian Ambassador to Korea Gourangalal Das at the bank’s headquarters in Yeouido, Seoul, to discuss cooperation in strategic industries. The talks focused on building local ecosystems in shipbuilding, maritime industries and advanced manufacturing in line
The Korean government unveiled a sweeping public-sector overhaul Thursday that aims to merge major state-run power, port and energy companies while splitting housing giant Korea Land and Housing Corp., or LH, into two. The Public Institution Functional Reform Plan seeks to reduce the number of public entities by 109 through strategic restructuring, consolidation of overlapping functions and absorption of subsidiaries and small agencies. The five state-run power generators — Korea South-East Powe
Samsung’s two insurance arms left the door open Thursday to overseas deals potentially worth up to 9 trillion won ($6.6 billion), stopping short of denying reports linking them to major acquisitions in the UK and US. Samsung Fire & Marine Insurance is reportedly considering taking control of London-based specialty insurer Canopius, while Samsung Life Insurance is said to be weighing the purchase of about 15 percent of US financial group Principal Financial Group. In separate regulatory filings,
US investment giant Capital Group has returned as a major shareholder in Shinhan Financial Group, lifting its stake above 5 percent as the Korean banking group steps up shareholder returns. According to a regulatory filing Wednesday, Capital Research and Management Company, a Capital Group affiliate, held 23.57 million shares in Shinhan Financial, which translates to a 5.02 percent stake. The holding makes the manager the third-largest shareholder in Shinhan Financial, behind the National Pensio
Woori Financial Group Chairman Yim Jong-yong and 55 other senior executives have purchased company shares as the group expands its nonbanking operations and integrates its two life insurers. Yim bought 5,000 shares Aug. 24, shortly after Woori Financial completed its acquisition of Dongyang Life Insurance and announced plans to merge it with ABL Life Insurance, the company said Wednesday. The shares were purchased at 31,800 won ($23.26) apiece, bringing Yim's holdings to 15,000 shares. The other
South Korean retail investors are trading some popular US leveraged securities without access to real-time quotes during daytime hours, after Blue Ocean ATS suspended trading in 18 securities to comply with US Securities and Exchange Commission rules. The suspension took effect with Monday’s 8 p.m. ET session, Blue Ocean ATS said. Most of the affected securities are leveraged or inverse products, including the Direxion Daily Semiconductor Bull 3X Shares, known as SOXL, and the Direxion Daily MSC
Finance Minister nominee Lee Hyung-il on Wednesday laid out a growth-focused policy agenda that also emphasizes capital market reform and stronger economic policy coordination. Lee, currently first vice finance minister, met with reporters in Sejong for the first time since his ministerial nomination Sunday. At the briefing, he identified lifting Korea's potential growth rate and reducing polarization as his two top economic priorities. "We need to accelerate the economy's growth momentum and fi
South Korea’s artificial intelligence rally must expand beyond Samsung Electronics and SK hynix if the country is to achieve broader and more sustainable stock market growth, according to Frank Benzimra, head of Asia equity strategy at Societe Generale. The two chipmakers now account for more than 48 percent of the Kospi’s roughly 5,610 trillion won ($4.1 billion) market capitalization and two-thirds of the combined first-half net profit of all Kospi-listed companies. “Today, the Korean market r
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