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South Korea’s Push to Create Its Own Goldman Sachs

South Korea’s Push to Create Its Own Goldman Sachs

SEOUL, Nov. 16 (Korea Bizwire) – South Korea is continuing efforts to create its own Goldman Sachs, with the government encouraging firms to become larger in size to compete with international investment banks. The Financial Services Commission (FSC) is pushing for the establishment of a major competitive South Korean investment bank by creating an environment where [...]

No Shortage of Buyers for Lotte Mart’s Chinese Properties

No Shortage of Buyers for Lotte Mart’s Chinese Properties

SEOUL, Sept. 19 (Korea Bizwire) – Lotte Group’s decision to cut its losses on its Lotte Mart business in China is reportedly drawing interest from five to 10 potential buyers, according to sources in the investment banking industry.  Speaking on conditions of anonymity, one source said, “The names of the firms involved in negotiations cannot [...]

Foreign Banks Upgrade S. Korea’s Economic Outlook

Foreign Banks Upgrade S. Korea’s Economic Outlook

SEOUL, Jul. 4 (Korea Bizwire) — Some foreign investment banks have raised their growth forecasts for South Korea’s economy this year, thanks to better-than-expected exports and facility investment, a financial research institute said Tuesday. The Bank of Korea has upgraded its growth forecast for the country to 2.6 percent from 2.5 percent, citing improving exports, [...]

Local Brokerage to Sell Foreign Financial Products with Foreign Partners

Local Brokerage to Sell Foreign Financial Products with Foreign Partners

SEOUL, Aug. 26 (Korea Bizwire) – Korean financial regulators will set up guidelines allowing brokerage firms in Korea, including branches of foreign companies, to sell overseas financial products like foreign bonds to local institutional investors together with foreign partners. The Financial Supervisory Service announced on August 25 that it had prepared such guidelines, and will make [...]

Study Shows Goldman Sachs 10,000 Small Businesses Program Generates Higher Revenues, More Jobs

Study Shows Goldman Sachs 10,000 Small Businesses Program Generates Higher Revenues, More Jobs

LONG BEACH, Calif., Jul. 8 (Korea Bizwire) — Hundreds of Southern California business owners are expanding their operations, realizing increased revenues and hiring more employees as a result of their participation in the Goldman Sachs 10,000 Small Businesses program operated out of Long Beach City College. Based on a report released today, 76 percent of [...]

[In-depth] Foreign Investment Firms Put out Rosy Predictions for 2015 Korea Economy

[In-depth] Foreign Investment Firms Put out Rosy Predictions for 2015 Korea Economy

SEOUL, Dec. 15 (Korea Bizwire) – Foreign investment firms are putting out a series of optimistic forecasts for the stock market in 2015, which are overall more generous than those of domestic firms. For example, Fidelity Worldwide Investment, the asset management firm with US$280 billion under management, said in a recent report on the Korean market for [...]

Baedal Minjok Gets $36 Mil. Investment from Goldman Sachs

Baedal Minjok Gets $36 Mil. Investment from Goldman Sachs

SEOUL, Nov.28 (Korea Bizwire) – Woowa Brothers Corp., the company providing the “Baedal Minjok(Nation of Delivery)” service with its smartphone app of the same name, has won investment of US$36 million from a consortium led by Goldman Sachs. Lee Jae-hyun, Goldman Sachs’ executive responsible for Korean investment, said that his company wants to be a partner of [...]