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Finance

Companies

Fri, September 30, 2022 | 03:39

Toss Securities' app briefly lists wrong won-dollar exchange rate

Toss Securities' foreign exchange service mistakenly provided a much lower won-dollar exchange rate for about 16 minutes on Wednesday afternoon even though the Korean currency continues to weaken against the greenback. The error apparently gave some customers a brief window to make a handsome profit by trading their won holdings into dollars.

Anna J. Park | 2022-09-29 17:23

KDB rushes to sell off tax-financed companies according to gov't fiscal policy

The planned sale of Daewoo Shipbuilding & Marine Engineering (DSME) is prompting speculation that its main creditor, state-run lender Korea Development Bank (KDB), is moving fast to sell off tax-financed companies in accordance with the government's focus on curbing the national debt. Announced on Monday, the KDB's plan has raised controversy that it is selling the debt-ridde...

Yi Whan-woo | 2022-09-28 16:09

Extended loan maturity feared to hurt banks' financial health

The government's extended grace period for loan repayments as a pandemic relief program is fueling concerns that banks will find it more difficult to figure out which clients are at risk of default. Accordingly, the banks are anticipated to struggle more to manage their financial soundness for the next three years - the maximum grace period as announced by the Financial Servi...

Yi Whan-woo | 2022-09-27 16:23

Viva Republica raises half of intended capital

Viva Republica has wrapped up its Series G investment round raising a total of 530 billion won ($371 million), about half of what it had aimed to attract during the round. According to the investment banking industry Tuesday, the comprehensive fintech company, which covers banking, brokerage and payment, completed the Series G investment round at the end of last month, with i...

Anna J. Park | 2022-09-27 15:58

Most Korean manufacturers rule out reshoring: poll

More than nine in 10 Korean companies aren't considering bringing their manufacturing back home due mainly to labor regulations here, a poll showed Tuesday.

2022-09-27 14:34

Asiana to expand flights to Japan as visa-free travel resumes

Asiana Airlines, Korea's second-biggest carrier, said Tuesday it will expand flights to Japan from late October on Japan's decision to ease travel restrictions despite the COVID-19 pandemic.

2022-09-27 10:46

Celltrion receives approval to sell anticancer biosimilar Vegzelma in Japan

Korean biopharmaceutical firm Celltrion said Tuesday it has received approval to sell its anticancer biosimilar Vegzelma in Japan.

2022-09-27 10:34

Hanwha Group to take over debt-ridden DSME for 2 trillion won

Hanwha Group will take over debt-ridden Daewoo Shipbuilding & Marine Engineering (DSME) as the two firms signed a preliminary investment deal on a conditional sale, Korea Development Bank (KDB) said Monday. The state-run bank, which is the main creditor and largest shareholder of DSME with a 55.7 percent stake, said Hanwha Group signed a memorandum of understanding (MOU) to a...

Yi Whan-woo | 2022-09-26 19:48

SC Bank Korea offers special rates to new customers

Standard Chartered (SC) Bank Korea is offering a special interest rate of up to 2.4 percent per year, before tax, to new customers who subscribe to its money market deposit accounts (MMDA) by Sept. 29.

2022-09-26 17:23

Mirae Asset's IFC purchase deal falls apart

Mirae Asset's plan to purchase International Finance Center (IFC) Seoul from Toronto-based Brookfield Asset Management has fallen apart, some four months after the two sides signed a memorandum of understanding (MOU) in May this year agreeing to a 4 trillion won ($2.79 billion) deal. According to investment banking sources Monday, Mirae Asset has filed a case with Singapore I...

Anna J. Park | 2022-09-26 17:12

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