SEOUL, Dec. 2 (Korea Bizwire) — South Korean institutions’ investment in foreign securities shrank 5 percent in the third quarter due to estimated losses from their bond and stock holdings, central bank data showed Friday. The outstanding value of foreign securities held by local institutional investors stood at US$354.93 billion as of end-September, down $18.69 [...]
SEOUL, Nov. 28 (Korea Bizwire) — South Korea will push to change regulations in a way that would allow investors to know how much they would receive in dividends before buying stocks in a bid to attract more foreign investment in the local equity market, a senior official of the country’s top financial regulator said [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korea’s bourse operator has launched a probe into two foreign brokerages on suspicions that they might have improperly affected stock prices through massive trading ahead of a global index rebalancing last year, market sources said Wednesday. The Korea Exchange (KRX) is looking into whether those firms — Morgan [...]
SEOUL, Nov. 16 (Korea Bizwire) — As South Korea’s corporate bond market is facing the extreme risk of a credit crunch, the net issuance of corporate bonds was overtaken by the net redemption of corporate bonds this year for the first time in six years. Hyundai Motor Securities Co. analyzed the change in the amount [...]
SEOUL, Nov. 9 (Korea Bizwire) — Foreign investors turned net buyers of South Korean stocks in October despite continued global monetary tightening as they picked up oversold shares, central bank data showed Wednesday. Foreigners’ stock investment funds logged a net inflow of US$2.49 billion in October, swinging from the previous month’s net outflow of $1.65 [...]
SEOUL, Nov. 8 (Korea Bizwire) — A number of South Korea’s credit issuers and credit finance firms are downsizing their auto installment financing offerings due to the difficulty in raising funds in a prolonged high interest rate. For these companies, installment interest rates for new cars (based on an installment period of 60 months) stood [...]
SEOUL, Nov. 7 (Korea Bizwire) — South Korean insurer Heungkuk Life Insurance Co. said Monday it plans to exercise a call option for long-term hybrid bonds issued in 2017, reversing its previous decision to delay the buy-back. “We apologize for causing turmoil in the financial market with our previous decision,” Heungkuk Life Insurance said in [...]
SEOUL, Nov. 7 (Korea Bizwire) – Foreign currency-denominated securities sold by South Korean financial institutions have taken a big hit from a local insurer’s recent decision not to exercise a call option for long-term hybrid bonds, which is widely feared to negatively affect their future overseas issues. A week ago, second-tier insurer Heungkuk Life Insurance [...]
SEOUL, Nov. 7 (Korea Bizwire) — Even during the week when American big tech firms reported disappointing third-quarter results and suffered a sharp decline in stock prices, South Korean investors net bought a substantial amount of their stocks, data showed Sunday. Meta Platforms Inc., the operator of Facebook, ranked first in terms of net buying [...]
SEOUL, Nov. 4 (Korea Bizwire) — SK Group, South Korea’s second-largest conglomerate by assets, is set to issue its first commercial papers (CPs), indicating that even large companies are having difficulty raising funds through the issuance of corporate bonds. SK Inc., the holding company of SK Group, plans to issue three-year and five-year maturity CPs [...]