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Reporter : Anna J. Park
Wed, November 30, 2022 | 09:33
Analysts paint rosy picture for Coupang shares
Korea's e-commerce giant, Coupang, recorded its first-ever quarterly operating profit in the third quarter of this year, as the firm finally began see benefits from its past investments focusing on efficiently improving the firm's automated fulfillment infrastructure, logistics and machine-learning supply-chain optimization. According to the earnings report submitted to the U...
Woori Financial Group launches data intelligence unit
Woori Financial Group has launched a new department dedicated to strengthening capabilities in data and artificial intelligence, hoping the new department will contribute to the group's future growth and taking the lead in the data technology sector.
More mid-cap Kosdaq companies issue new stocks to secure capital
More mid-cap companies listed on the tech-heavy Kosdaq market have been opting to raise capital by issuing new stocks, as offering news shares is considered a way to secure cash with the least interest burden amid tightened global liquidity and soaring interest rates.
Bank CEOs vow to cooperate to stabilize local credit market
In a move to provide necessary liquidity to local credit markets, the CEOs of 20 Korean banks pledged Wednesday to minimize the issuance of bank notes, while continuing to purchase various commercial papers (CP), asset-backed commercial papers (ABCP) and repurchase agreements (RP or repos), a short-term agreement to sell securities in order to buy them back at a higher price.
KakaoBank draws over 20 mil. users after opening in 2017
KakaoBank has drawn over 20 million users since its launch in July 2017, which is nearly 40 percent of the entire 51 million population of Korea. According to the internet-only bank Wednesday, the number of the digital bank's users has grown exponentially every year during the past five years. The bank's user number in December 2017, the first year when it was officially laun...
Why did Heungkuk Life reverse position on call option?
In less than a week since Heungkuk Life Insurance decided to delay the exercise of a $500 million call option on its dollar-denominated perpetual bonds, sending a shockwave to Korean companies' dollar bonds market, the life insurer reversed its position in a move to calm and rectify souring investment sentiment in Korean companies' bonds markets.
Asian countries predicted to suffer from aging population and slower growth: report
Major Asian countries will experience key demographic changes consisting of a shrinking and fast-aging population, while the proportion of their workforces and capital provision, as well as productivity in the global market are likely to decline further in the near future. This is according to the latest report by the Credit Suisse Research Institute (CSRI), titled “The globa...
FSS chief downplays concerns over liquidity crisis
Financial Supervisory Service (FSS) Governor Lee Bok-hyun assuaged market anxieties and concerns over an increased possibility of Korea's corporate credit crunch, stressing that the temporary shortage of liquidity experienced in some sectors of the economy is not threatening the entire financial system's liquidity.
Shinhan cooperates with Visa on data and global business
Shinhan Financial Group and Visa have decided to join hands to cooperate in the area of data utilization and global business.According to the financial giant Sunday, Shihan Financial and Visa agreed to form strategic partnership on data and global business, as the two groups' leaders - Shinhan Financial Group Cho Yong-byoung and Visa Chairman and CEO Alfred Kelly Jr. - met in...
Falling exports further darken Korea's economic outlook
With a seven-month consecutive trade deficit logged this year, Korea's exports fell in October for the first time in two years, sending more warning signs to the Korean economy. The decline in the monthly export volume is attributed to various factors, ranging from the global economic slowdown, China's COVID-19 lockdowns, the decrease in the price of memory chips and supply c...
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