SEOUL, Jul. 21 (Korea Bizwire) — Samsung C&T Co., a construction and trading arm of Samsung Group, said Monday that it plans to delist its depositary receipts (DRs) traded on the British stock market. In a regulatory filing, Samsung C&T said it will report its plan to the British financial authorities this week. The DRs, [...]
SEOUL, Jul. 21 (Korea Bizwire) — South Korea opened a mini-sized futures and options market on Monday to offer investors wider choices for hedging and trading, hoping to revitalize the once-vibrant derivatives market with robust liquidity. The Korea Exchange (KRX) currently operates futures and options trading based on the KOSPI 200 index, a flagship index [...]
SEOUL, Jul. 21 (Korea Bizwire) — South Korea announced a fresh plan Tuesday to sell state-run Woori Bank following four previous failures to put the country’s third-largest lender into private hands, a state committee said. The government has been trying to sell its 51.04 percent stake in the bank since 2010 in a bid to [...]
SEOUL, Jul. 20 (Korea Bizwire) — South Korea’s top financial regulator is planning to give preliminary approval for the merger of two flagship banks of Hana Financial Group Inc., the country’s third-largest banking group by assets, later this week, officials said Sunday. Hana Financial has tried to merge Hana Bank and the Korea Exchange Bank [...]
SEOUL, Jul. 20 (Korea Bizwire) — South Korea’s major banks reduced loans to large companies over the past year as they became more reluctant to lend to them amid a series of massive bankruptcies, industry data showed Sunday. Six lenders, including industry leaders Kookmin Bank and Shinhan Bank, extended a combined 95.7 trillion won (US$83.5 [...]
SEOUL, July 19 (Yonhap) — South Korea’s national pension fund plans to make its first investment in overseas hedge funds next year as part of efforts to secure stable returns, an internal document from the fund showed Sunday. According to the 2016 asset allocation plan obtained by Yonhap News Agency, the National Pension Service (NPS) [...]
SEOUL, July 15 (Korea Bizwire) – After news of a Chinese state-owned company’s bid to take over US chipmaker Micron Technologies surfaced, Korean semiconductor makers like SK Hynix and Samsung Electronics saw painful losses to their share prices. On July 14, Samsung Electronics declined 3.24 percent to 1,225,000 won, marking the biggest daily loss since May 27, [...]
SEOUL, Jul. 15 (Korea Bizwire) — South Korea’s listed firms called Wednesday for more defense mechanisms against hostile takeovers as the ongoing battle between Samsung Group and a U.S. hedge fund sheds fresh light on the country’s weak corporate governance structure and foreign investors’ sway over the local stock market. The Korea Listed Companies Association [...]
SEOUL, July 14 (Korea bizwire) – Paul Singer, CEO of Elliott Management, released an old photo of himself taken when he visited Seoul World Cup Stadium in 2002 while the co-host country was astonishing the world. With red shirts emblazoned with the “Be The Reds” slogan, he posed in front of the stadium together with his [...]
SEOUL, July 14 (Korea Bizwire) – A special service by a Korean credit card company enabling users to restrict overseas usage of their own credit card by themselves to prevent fraud is gaining popularity. According to BC Card, provider of the “Self On-Off” service, the number of users of the service increased from 5,302 in [...]