INCHEON, Sept. 9 (Korea Bizwire) – More than one trillion won is expected to be invested in the ‘Golden Harbor Development’ project at Incheon’s Songdo International Business District. The Incheon Port Authority announced that they will sign an MOU with BizPost Korea, an affiliate of the American corporation BizPost, related to investment in the Golden [...]
SEOUL, Sept. 4 (Korea Bizwire) — The head of South Korea’s top financial regulator pledged Friday to lower entry barriers for foreign banks seeking to tap into the local market. “To encourage financial companies to tap into other countries, each country must work to increase the conformity of their local rules with international norms,” Financial [...]
SEOUL, Sept. 2 (Korea Bizwire) — Financial assets of Korean households have turned out to be very low compared to other countries. Experts say that the phenomenon is due to the Korean household practice of having most major assets concentrated on real estate. According to the Korea Financial Investment Association, the portion of financial assets held [...]
SEOUL, Aug. 31 (Korea Bizwire) — Foreign investors dumped shares of Samsung Electronics and SK hynix during their recent selling spree sparked by China’s stock rout and uncertainty over a U.S. rate hike, data showed Monday. Offshore investors unloaded 751.3 billion won (US$635.4 million) worth of Samsung Electronics shares between Aug. 5 and Friday, lowering their [...]
SEOUL, Aug. 30 (Korea Bizwire) – Samsung Electronics Co., the world’s largest handset maker, slipped to the world’s 13th most valuable IT company by market cap as the tech giant’s shares suffered losses this year due to a bleak business outlook, a report showed Sunday. Samsung, South Korea’s most valuable company, had remained in the [...]
SEOUL, Aug. 30 (Korea Bizwire) – SK Group Chairman Chey Tae-won has met with Chinese joint venture partners to discuss ways to expand cooperation in the petrochemical and chip businesses, his office said Sunday, in his latest efforts to boost business after being freed from jail. After being released on Aug. 14 upon receiving a [...]
SEOUL, Aug. 28 (Korea Bizwire) — South Korean retail giant Lotte Group is set to list its hotel and duty free operator Hotel Lotte, a hidden jewel owned by Japanese shareholders, taking the first critical step to untangling its murky governance structure following a bitter family feud over control of the conglomerate. Local brokerage houses [...]
SEOUL, Aug. 28 (Korea Bizwire) — The Abu Dhabi Investment Council (ADIC) has expressed its interest in buying a stake in state-run Woori Bank, which has been put up for sale, a government official said Friday. The Seoul government has been trying to sell its 51.04 percent stake in the bank since 2010 in a [...]
SEOUL, Aug. 27 (Korea Bizwire)– Byun Yang-gyun(67), the senior presidential secretary for policy planning to Korea’s late President Roh Moo-hyun, will take office as the chairman of Smile Gate Investment. Smile Gate Investment is an investment firm founded in 1999 that hasinvested in more than 300 venture businesses, including game companies such as Smile Gate and [...]
SEOUL, Aug. 26 (Korea Bizwire) – South Korea’s state-run pension fund has suffered heavy valuation losses from its investment in two Samsung Group units over the past two months as the stocks have plunged after their merger plan was approved by shareholders last month, data showed Wednesday. The National Pension Service (NPS) — which holds [...]