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Reporter : Anna J. Park
Thu, June 1, 2023 | 11:30
KIC acquires minority stake in Golub Capital
The Korea Investment Corporation (KIC) has strengthened its strategic partnership with U.S.-headquartered Golub Capital, in a move to bolster its alternative investment portfolio. The Korean sovereign wealth fund announced on Friday morning that it had acquired a passive and non-voting minority stake in Golub Capital's management companies.
Cryptocurrency market hit by delisting of Wemix
Wemix, the cryptocurrency developed by game company Wemade, ended up getting delisted from four major local coin exchanges as of 3 p.m. Thursday, as a local court rejected an injunction request filed by Wemade on Wednesday evening.
MBK Partners founder makes Forbes top philanthropists list for 2nd time
MBK Partners co-founder and CEO Michael Byungju Kim has made the list of Forbes top philanthropists in Asia for two consecutive years. Forbes announced earlier this week that a total of 15 business people have made the list of “Asia's 2022 Heroes of Philanthropy”, with nine being chosen for the first time.
Macquarie joins bid to acquire LOCA Mobility
Macquarie Asset Management was revealed to have been among the few potential buyers that participated in the main bid to acquire LOCA Mobility, a subsidiary of Lotte Card. LOCA Mobility operates various traffic solution services, including pre-paid cards, city bus management systems (BMS) and bus information systems (BIS).
Daol Investment put up for sale
Korea's first-generation venture capital firm Daol Investment, formerly known as KTB Network, has been put up in the M&A market, as its parent company aims to secure liquidity amid market uncertainties.
Korea Investment expected to take over KakaoBank stake
Korea Investment & Securities is expected to take over a significant stake in KakaoBank, currently held by its parent company as well as its affiliate. If that happens, the brokerage firm could become the country's top brokerage company with the most capital.
PEFs face dilemma as exits become difficult
Due to the soaring global interest rates and concerns over a recession, private equity firms (PEFs) are finding it hard to make successful exits from some of the projects they previously invested in within their portfolios. That's because unfavorable external factors, including curtailed asset prices, slashed corporate valuations, the bearish moves of stock markets and slowed...
FSS urges Shinhan Bank to bolster anti-money laundering system
The Financial Supervisory Service (FSS) has asked Shinhan Bank to improve its anti-money laundering (AML) management system, particularly in the areas of digital asset businesses and overseas branches.
JB Financial Group awarded as outstanding ESG company
JB Financial Group has been awarded as an outstanding company for its environmental, social and governance (ESG) criteria by the Korea Institute of Corporate Governance and Sustainability (KCGS), as the financial group received a comprehensive A rating from the corporate assessment agency.
Hana Financial promotes mental health with Dr. Oh Eun-young
Hana Financial Group announced Sunday that it hosted a presentation with renowned psychiatrist Dr. Oh Eun-young late last week to provide practical advice for the group's employees to address mental health issues both at work and at home. About 500 workers attended the event held on Friday at Hana Global Campus, the financial group's employee training facility located in Inch...