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Reporter : Anna J. Park
Wed, November 30, 2022 | 09:57
Hyundai Motor, LGES stocks shine brighter amid bearish stock market
As the won-dollar exchange rate soared to a 13-year high recently, local stocks have generally become less attractive to foreign investors due to the weakened Korean currency. But some local stocks still remain popular among foreign investors. They have been focusing lately on buying LG Energy Solution (LGES) and Hyundai Motor. A weak won makes Korean automobiles cheaper to b...
[INTERVIEW] 'Tech, AI, logistics, automation sectors to be key areas of Korea-SEA investment deals'
In the wake of COVID-19, the global mergers and acquisitions (M&A) market has been growing exponentially to meet a greatly transformed business environment, such as deepened digitalization and efficient logistics. Southeast Asian countries have also witnessed significant growth in M&A transactions in the years following the pandemic outbreak. Businesses' increased tendency to...
Mirae Asset, Korea Investment top in errors of HTS, MTS
A total of 1,136 cases of errors in local securities companies' home trading services (HTS) and mobile trading services (MTS) have been reported over the past five years. Mirae Asset and Korea Investment topped the list for resultant financial harm inflicted on consumers.
Hyundai Card in talks with Apple to introduce Apple Pay in Korea
Hyundai Card is currently known to be in talks with Apple to introduce Apply Pay exclusively to Korea as early as by the end of this year. According to local credit market sources, Hyundai Card's talks with Apple are in its final phase to seal the deal of exclusively introducing the mobile payment services to Korean consumers. Hyundai Card is expected to sign a one-year exclu...
FSS to establish hotlines with banks to monitor foreign liquidity
As the won-dollar foreign exchange rate continues to skyrocket, the Financial Supervisory Service (FSS) has decided to monitor local banks as well as the local operations of foreign banks for their preparations in foreign reserves.
Kyobo Life mulls over listing on US stock market
Kyobo Life is examining the option of pursuing an overseas listing on the U.S. stock market, as its attempt to go public on the Korean stock market was denied two months ago. According to financial industry sources on Tuesday, the life insurer has begun internal discussions on the topic of going public on the U.S. stock market with a preference for the New York Stock Exchange...
Securities firms tighten belts amid bearish stock market
Local securities companies have announced that they kick-started emergency management systems, aiming to weather through the current challenges of both global and local stock markets. Such moves are deemed necessary, as various geopolitical factors increase market uncertainty. Soaring interest and exchange rates as well as tightening global monetary policies have also signifi...
Korea on alert over 6 more investor-state suits following Lone Star ruling
While the government's high-profile battle with Lone Star Funds has finally reached an outcome after 10 years, six more similar investor-state dispute settlement (ISDS) cases filed against the Korean government are still pending at the international arbitration tribunal. The total amount of claims asked by claimants against the Korean government exceeds 1.6 trillion won ($1.2...
Lone Star ruling regarded as '50% defeat' for Korean gov't: experts
Debates continue over the ruling by the International Centre for Settlement of Investment Disputes (ICSID) that came after a decade-long legal battle between the Korean government and U.S.-based Lone Star Funds over the private equity firm's sale of Korea Exchange Bank (KEB).
Law firms are real winners in Korea-Lone Star battle
As the Korean government has announced its plan to seek an annulment of the $216.5-million award that it was ordered to pay Lone Star Funds in a recent international arbitration case, law firms' revenues are expected to increase further. It has been estimated that both the Korean government and Lone Star spent over 100 billion won ($75 million) over the last decade on legal f...