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Reporter : Anna J. Park
Thu, July 7, 2022 | 13:26
Deloitte Korea acquires PRGATE to strengthen marketing capacity
Deloitte Korea officially signed a deal earlier this week to acquire PRGATE, a local communications and consulting company with expertise in setting up brand strategies. The move aims at strengthening its consulting and marketing capabilities so as to accelerate innovative growth potential.
'Significant market rebound is likely by mid-September': analysts
Despite the KOSPI's slight recovery of a 0.75 percent increase on Tuesday, finishing at 2,408.93, the country's main benchmark index has been showing an obvious declining trend over the past year. Since the index reached its all-time high of 3,316.08 points during intraday trading in late June last year, it has dropped by nearly 30 percent in the past 12 months, hitting a 19-...
KDB chief inauguration ceremony goes ahead amid union protests
Two weeks after being appointed to head state-run Korea Development Bank (KDB), Chairman Kang Seog-hoon finally held a delayed inauguration ceremony on Tuesday, vowing to communicate closely with the bank's workers regarding a government-led relocation plan to Busan. Unionized workers of the bank had been blocking the new chairman from entering the bank headquarters since his...
Financial regulator investigates Meritz Asset Management CEO
The Financial Supervisory Service (FSS) has been conducting investigations into Meritz Asset Management CEO John Lee over allegations that he violated a conflict of interest obligation when making an investment decision for his firm. According to the FSS, it carried out on-site inspections into the asset management company from May 23 to June 7.
Game stocks plunge amid interest rate hikes
The major game stocks nosedived at closing on Monday, as concerns over a global economic recession continue. Kakao Games, the largest market cap game company listed on the Kosdaq, ended Monday's session with a fall of 10.14 percent, finishing at 50,500 won ($39.10). Monday's closing price is the game company's new 52-week low price. Wemade, another major game company listed o...
SK chairman urges affiliates to reconstruct management system
SK Group Chairman has urged its group subsidiaries to maximize corporate values by re-constructing the management system and rewriting their “financial stories,” aiming to overhaul and upgrade the group's core value systems. The comment was made during the group's annual strategic meeting held at the end of last week. Speaking at the “2022 Expansion Management Meeting” held a...
Number of bank branches in Korea lower than OECD average
The number of commercial bank branches in Korea turns out to be lower than the average in the OECD member countries. According to the Financial Services Commission (FSC) on Sunday, the number of commercial bank branches in Korea per 100,000 adults stood at 14.4 in 2020, which is lower than 18.3, the average number per 100,000 adults in the OECD member countries.
FSC to loosen household debt rules for first-time home buyers
The country's financial authority will loosen household loan regulations for first-time home buyers, while strengthening income-based loan restrains for most debtors. The two-pronged approach aims to stably manage the country's growing household debt level, considering each debtor's unique condition. According to the Financial Services Commission's (FSC) announcement on Thurs...
Korea to overhaul visa system to attract more highly-skilled foreigners
The government has decided to fix its visa policy for foreign nationals in a bid to attract more highly-skilled professionals from abroad - a move aimed at tackling the population decline and reinvigorating the nation's growth potential. This move is part of the Yoon Suk-yeol administration's economic policy directions unveiled by the Ministry of Economy and Finance, Thursday...
Hybe stock plunges after BTS announces hiatus
The stock price of Hybe, the company that manages BTS, plummeted more than 24 percent on Wednesday, after the K-pop juggernaut announced Tuesday night that it will take a break as its members pursue solo activities.
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