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Reporter : Anna J. Park
Sat, June 3, 2023 | 07:22
Financial regulator to focus on preemptive inspections
The Financial Supervisory Service (FSS) is setting out to shift its investigative focus from a punitive nature to preemptive and preventive so that financial companies as well as financial markets could maintain their soundness efficiently amid growing uncertainties. According to its annual plan for this year announced on Wednesday afternoon...
Economy | 2023-02-15 16:27
Regulator seeks to break up oligopoly in banking industry
The Financial Supervisory Service (FSS) has begun to look into ways to induce further competition in the local banking industry, aiming to break up the current oligopolistic system dominated by five major commercial lenders - Shinhan, KB Kookmin, Hana, Woori and NH NongHyup. The move follows President Yoon Suk Yeol's criticism earlier this week of local banks paying hefty bon...
Companies | 2023-02-15 16:27
[INTERVIEW] Activist fund Align aims to dispel Korean stocks' undervaluation
Lee Chang-hwan, the CEO of activist fund Align Partners, has recently been a vocal figure in various media outlets, calling on businesses to improve corporate governance and enhance their shareholder return policies. One of the key activist campaigns that he is focusing on aims to get Korea's major financial groups to improve shareholder returns. As a minor shareholder of Shi...
Companies | 2023-02-15 08:30
Will IPO market recover?
Grocery e-commerce platform Oasis has become the latest Korean company that decided to cancel its initial public offering plans amid unfavorable market conditions since last year. Kurly, a premium grocery e-commerce, ended up dropping its IPO plan in early January, due mainly to a plunging corporate valuation.
Companies | 2023-02-14 16:47
Battle for SM management heats up between Lee-HYBE and SM-Kakao blocs
With the war being waged surrounding SM Entertainment's controlling stake between SM Entertainment's founder Lee Soo-man, in alliance with HYBE, and the current management of SM, who has teamed up with Kakao and activist fund Align Partners, market attention is now on how the situation might unfold.
Markets | 2023-02-14 16:38
Korea awaits decision on FTSE gov't bond index inclusion next month
The domestic bond market is anticipating the potential influx of a massive amount of foreign capital, as the global index provider FTSE Russell is slated to announce whether Korea will be included in the FTSE World Government Bond Index (WGBI) in a semi-annual report due in March.
Economy | 2023-02-14 08:28
Consumer price index expected to hover at 5% range in Q1
As rising public transportation fees add upward pressure on the general public, consumer prices in Korea are expected to remain at the current range. Some expect inflation in the upper five-percent rate to continue until the start of the second quarter of this year. The finance ministry and Statistics Korea both expect February's Consumer Price Index (CPI) to post a year-on-y...
Economy | 2023-02-12 16:46
KCGI to sell Osstem stake to Unison-MBK consortium
The Korea Corporate Governance Improvement (KCGI) has decided to sell its 6.92 percent stake in Osstem Implant during a tender offer launched late last month by a consortium made up of Unison Capital Korea and MBK Partners, according to the activist fund. The tender offer is scheduled to last through Feb. 24.
Markets | 2023-02-12 14:47
Risks of real estate project financing loom large on economy
Risks stemming from real estate project financing (PF) is looming large as one of key threat factors in the local financial sector this year. Securities companies particularly experience a high default rate of their loans to real estate PF, concerning market watchers that a negative chain reaction could result in a crisis for the market.
Markets | 2023-02-09 16:07
BNK Financial's incoming chief expected to bring in stabilization
After BNK Financial Group nominated Bin Dae-in last month as its next chairman to lead the group for the next three years, market watchers have been fixated on whether the new incoming leader will be able to complete his term honorably, while also succeeding at stabilizing the financial group's structure.
Companies | 2023-02-09 15:29
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