SEOUL, Nov. 25 (Korea Bizwire) – South Korean insurance firms’ earnings jumped more than 37 percent in the first nine months of this year amid the coronavirus pandemic and a bullish stock market, data showed Thursday. The combined net profit of insurance companies operating in South Korea came to 7.63 trillion won (US$6.4 billion) in [...]
SEOUL, Nov. 24 (Korea Bizwire) — Construction equipment maker Hyundai Doosan Infracore Co. said Wednesday it has signed a deal with local builder SK Ecoplant to improve digital technologies related to construction site management. Under the deal, Hyundai Doosan Infracore will develop new technologies using its cloud-based construction site management platform XiteCloud, which will be [...]
SEOUL, Nov. 22 (Korea Bizwire) — Eugene PE, the private equity firm of South Korea’s Eugene Group, and four others have been chosen to buy a combined 9.3 percent government-held stake in Woori Financial Holdings Co. for 897.7 billion won (US$754.1 million), South Korea’s financial regulator said Monday. The move will put an end to [...]
SEOUL, Nov. 22 (Korea Bizwire) — Samsung Life Insurance Co., South Korea’s top life insurer, said Monday that it has agreed to launch a joint investment fund with the state-run postal agency for overseas investments. In a preliminary deal signed with Korea Post, Samsung Life Insurance said that they will launch the joint investment fund [...]
SEOUL, Nov. 20 (Korea Bizwire) — South Korean stocks are likely to continue fluctuating in a tight range next week amid lingering uncertainties about inflation pressure. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,971.02 points Friday, slightly up from 2,968.8 points a week ago. Stocks slumped from Tuesday to Thursday as strong [...]
SEOUL, Nov. 19 (Korea Bizwire) — Doosan Heavy Industries & Construction Co. said Friday that its board of directors has decided to hand over the managerial rights to its construction subsidiary Doosan Engineering & Construction Co. to The Zenith Holdings Co., an investment company. The entity to be established by a consortium including Q Capital [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korea’s overseas financial assets soared to a new high in the third quarter thanks largely to increased stock investments, central bank data showed Thursday. The nation’s external financial assets came to US$2.10 trillion at the end of September, up $30.6 billion from three months earlier, according to preliminary [...]
SEOUL, Nov. 17 (Korea Bizwire) — South Korean stock investors will be allowed to trade foreign stocks in decimal points via the securities firms of their choice, starting from the end of this year at the earliest. The Korea Securities Depository (KSD) announced that it had completed the setup of a special infrastructure to enable [...]
SEOUL, Nov. 15 (Korea Bizwire) – The number of small shareholders in global tech giant Samsung Electronics Co. surpassed 5 million amid massive stock investment by local retail investors, data showed Monday. Some 5.18 million investors held shares in the top-cap company as of the end of September, triple the tally a year earlier, according [...]
SEOUL, Nov. 13 (Korea Bizwire) — South Korea’s benchmark stock index is likely to come under selling pressure next week as uncertainties from the fast-growing inflation continue to fan expectations of a quick rate hike by the U.S. Federal Reserve, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,968.8 points [...]