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Profits Racked Up for Major Financial Holding Firms Last Year

SEOUL, Feb. 8 (Korea Bizwire) – South Korea’s four major financial holding firms saw their net profits rise last year as interest income increased, according to industry data on Thursday. The combined net profit of KB Financial, Shinhan Financial, Hana Financial and Woori Bank stood at 9.77 trillion won (US$8.98 billion) lastyear, up more than 30 percent from a year earlier. KB Financial’s net profit jumped 54.5 percent on-year last year, and [...]

Foreigners Pick Up Financial Shares, Drop Electronics in 2017

SEOUL, Jan. 15 (Korea Bizwire) — Foreign investors picked up financial and chemicals shares on the KOSPI, South Korea’s main bourse, last year while selling off electronics and construction stocks, data from the Korea Exchange showed Monday. Offshore investors bought 6.58 trillion won (US$6.17 billion) worth of local stocks in 2017, of which financial stocks [...]

KB Financial, LG Electronics Most Favored by Foreign Investors This Year

SEOUL, Oct. 23 (Korea Bizwire) — KB Financial Group, LG Electronics and Samsung SDI were among the top picks by foreign investors through October, which have enjoyed decent gains far exceeding the market-average returns, industry data showed Sunday. According to the data compiled by market tracker FNGuide, foreign investors have scooped up KB Financial Group [...]

Competition Heats Up for Industry Titan KDB Daewoo Securities

SEOUL, Oct. 8 (Korea Bizwire) — South Korean securities companies are waging a fierce competition to take over KDB Daewoo Securities Co., one of the nation’s leading brokerages, in a deal that could come as a game changer for the industry. The Korea Development Bank (KDB), a state-run policy lender, is seeking to sell off [...]

BOK Chief Worries over Bleak Job Market for Young Generation

SEOUL, May 22 (Korea Bizwire) – South Korea’s top central banker on Friday raised worries over bleak job market prospects for the younger generation in the coming years as the country is ready to extend the retirement age to 60 next year, echoing recent policy efforts aimed at revving up structural reform. “Employment is a [...]