SEOUL, Jan. 19 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) drew record high demand from retail investors in the public subscription for its red-hot initial public offering (IPO) next week, its underwriters said Wednesday. The company attracted 114.1 trillion won (US$95.8 billion) in deposits from some 4.4 million retail investors [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s state pension fund lowered its exposure to large cap and other domestic shares in 2021 in an apparent bid to boost returns and diversify its portfolio, a corporate tracker said Wednesday. The National Pension Service (NPS) held stakes of 5 percent or more in 265 companies listed [...]
SEOUL, Jan. 18 (Korea Bizwire) — Hyundai Capital Services Inc., South Korea’s leading auto finance company, said Tuesday it has launched a joint venture with CGI Finance, a subsidiary of France’s Societe Generale Group. Hyundai Capital France will provide auto finance, including lease, loan and insurance, for customers of Hyundai Motor Group — Hyundai Motor [...]
SEOUL, Jan. 17 (Korea Bizwire) — The chairman of major South Korean real estate developer HDC Hyundai Development Co. offered to step down Monday to take responsibility for a recent accident at its construction site that left one worker dead and five others missing. Chung Mong-gyu made the statement six days after part of the [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korean stocks are likely to start gradually picking up next week after the recent plunge from U.S. inflation woes, analysts said Saturday, expecting an increase in chip demand and liquidity in the stock market. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,921.92 points Friday, down [...]
SEOUL, Jan. 14 (Korea Bizwire) — A South Korean construction company has launched an inter-floor noise notification system as a way to prevent disputes over noise between floors. DL E&C Co. said Thursday that it had developed an inter-floor noise notification system that can notify the occupants of inter-floor noise and provide objective data. When [...]
SEOUL, Jan. 13 (Korea Bizwire) — Foreign investors’ net purchase of South Korean securities was the biggest in 12 years last year due largely to their buying spree of local bonds, central bank data showed Thursday. Foreigners bought a net US$38.71 billion worth of Korean securities last year, sharply up from $3.47 billion the previous [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s top 100 companies have seen their total market capitalization swell nearly 11 percent over the past one-year period, a corporate tracker said Wednesday. The combined market value of those leading firms came to 2,128 trillion won (US$1.78 trillion) as of Jan. 3 this year, up 10.8 percent [...]
SEOUL, Jan. 10 (Korea Bizwire) — Sales of short-term corporate bonds in South Korea jumped more than 20 percent in 2021 from a year earlier amid the coronavirus pandemic, data showed Monday. Local companies issued 1,243.7 trillion won (US$1.04 trillion) worth of short-term bonds, up 20.6 percent from a year earlier, according to the data [...]
SEOUL, Jan. 10 (Korea Bizwire) — Foreign direct investment (FDI) pledges made to South Korea surged 42.3 percent in 2021 from a year earlier to reach an all-time high, data showed Monday. Foreigners pledged to invest US$29.51 billion in South Korea in 2021, compared with $20.7 billion a year earlier, according to the data by [...]