SEOUL, March 23 (Korea Bizwire) – South Korea’s top asset manager Mirae Asset Financial Group said Wednesday it will not bid for Hyundai Securities Co. to focus on completing its latest takeover deal, leaving KB Financial Group and Korea Investment Holdings Co. as strong candidates in the final auction scheduled for this Friday. Mirae Asset has [...]
SEOUL, Oct. 19 (Yonhap) – Japanese private equity firm Orix has given up its bid to buy Hyundai Securities Co., local financial sources said Monday. According to insiders, Orix informed Hyundai Group, which had placed the brokerage firm on sale, that it will not extend negotiations designed to purchase the company, without disclosing further details. [...]
SEOUL, Aug. 18 (Korea Bizwire) — Hybrid funds with a mixed portfolio of stocks and bonds have been absorbing money as investors prefer relatively safe vehicles with higher yields over fixed deposits that offer record-low interest payments, data showed Tuesday. Investors have added a net 4.23 trillion won (US$3.58 billion) into the hybrid funds as [...]
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, Nov. 14 (Korea Bizwire) — A congressional investigation revealed that some of the securities firms took improper profits from government funds entrusted to them. The office of Congressman Kim Yong-nam (New Frontier Party) said this on November 12, based on an analysis of the transaction details of Hyundai Securities for government funds between 2008 and 2013. [...]
Seoul, Korea, April 14, 2014 (Korea Bizwire) – As NH Nonghyup Securities finalized its acquisition of Woori Investment & Securities and is set to be reborn as a behemoth, the securities industry is accelerating its pace of consolidation. Before Woori Investment, Tongyang Securities had been sold and now Hyundai Securities is looking for a new [...]
SEOUL, Korea, Mar 10, 2014 (Korea Bizwire) – Under a severe downturn for years, the securities industry is now experiencing an internal discord between the management and the union over the issue of downsizing. According to disclosure data, the total number of employees in the securities industry as of last year was 40,243, down 5.97 [...]