NEW YORK and MEXICO CITY, Feb. 6 (Korea Bizwire) — Bolsa Mexicana de Valores, S.A.B. de C.V. (Mexican Stock Exchange) has announced it has reached a license agreement with Nasdaq (Nasdaq:NDAQ) to leverage SMARTS, the industry-leading market surveillance platform offered by Nasdaq. Bolsa Mexicana de Valores will migrate its current real-time proprietary surveillance system to [...]
SEOUL, Feb. 6 (Korea Bizwire) – Hyundai Motor Group Chairman Chung Mong-koo and his son offloaded part of their shares in the group’s logistics unit, Hyundai Glovis Co., at an estimated 1.1 trillion won (US$1 billion), industry sources said Friday. According to the sources, the two sold 5.02 million shares in the affiliate, which account [...]
SEOUL, Feb. 6 (Korea Bizwire) – South Korean lenders saw their combined net profit soar 60.4 percent last year from a year earlier as they set aside less reserves against bad loans, the financial watchdog said Friday. The combined net income of 18 local banks stood at 6.2 trillion won (US$5.7 billion) in 2014, up [...]
SEOUL, Feb. 5 (Korea Bizwire) – POSCO, South Korea’s top steelmaker, said Thursday that it will focus on improving its financial structure this year by reducing investment and selling assets and equity holdings, following lackluster earnings results for last year. POSCO plans to invest 4.2 trillion won (US$3.9 billion) group-wide this year, down 1.2 trillion [...]
SEOUL, Feb. 4 (Korea Bizwire) — South Korea’s foreign exchange reserves slipped in January from a month earlier as the currency value of the euro and the British pound weakened, data showed Wednesday. The country’s foreign exchange reserves reached US$362.2 billion as of the end of last month, falling $1.4 billion from December, according to Bank [...]
SEOUL, Feb. 2 (Korea Bizwire) – In the smart banking age, where a couple of screen touches can send money or allow you to check financial balances, bank accounts with no Internet access are attracting subscribers who want a place to keep secret money out of reach of their spouses. According to sources in the [...]
SEOUL, Jan. 31 (Korea Bizwire) – Twelve major Korean asset management firms increased foreign stock transactions via their overseas investment funds by 63.9 percent from 2013 to 2014. The number of said transactions reached 79,687 in 2014, according to an announcement from the Korea Securities Depository (KSD) on January 30. The stock trades within their [...]
SEOUL, Jan. 30 (Korea Bizwire) – Japan’s Orix Corp. has been picked as the preferred bidder for a controlling stake in Hyundai Securities Co., the fourth-largest brokerage firm by market cap, financial sources said Friday. Earlier this week, Orix Corp. and South Korean private equity firm Pinestreet had submitted their bids for a 36 percent stake [...]
SEOUL, Jan. 30 (Korea Bizwire) — Six years after being designated as a public institution, Korea Exchange (KRX) was finally freed from government regulation that included budget controls and audits, effectively freeing it to move forward with expansion in overseas markets. While it was listed as a public institution, KRX’s business activities were been evaluated on an [...]
SEOUL, Jan. 29 (Kore Bizwire) – Dongbu Insurance will become the largest shareholder of Vietnam’s Post & Telecommunications Insurance (PTI) by acquiring 37 percent of its shares, investing a total of 50 billion won (US$45.8 million). Dongbu announced on January 28 that it would sign a contract to purchase the share of the fifth largest Vietnamese [...]