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Reporter : Anna J. Park
Wed, November 30, 2022 | 10:26
Big 4 accounting firms reap record-high revenues
The big four accounting firms in Korea posted all-time-high annual revenues last year, due mainly to double-digit year-on-year growth rates recorded in M&As and consulting advisory services. According to data available from the electronic disclosure system operated by the Financial Supervisory Service (FSS), the aggregated annual revenues of the four largest accounting firms ...
[INTERVIEW] Real estate investors see hope for future
In times of soaring interest rates and globally tightened liquidity, investments into real estate markets may seem unpromising with little upside potential left. Yet, global real estate experts not only stress real estate investments are fundamentally long term in nature, but also highlight that key real estate sectors represented by the “3Ls” - logistics, living and life sci...
Short-selling transactions focus on blue-chip stocks
The total amount of short-selling transactions on the main Korea Composite Stock Price Index (KOSPI) in September increased about 40 percent compared to the previous month, while the country's blue-chip stocks were the most shorted amid the bear market.
MBK Partners joins bid to acquire Toshiba
MBK Partners has participated in a joint bid to acquire Toshiba, forming a consortium with the state-backed Japan Investment Corporation (JIC) and U.S.-based Bain Capital to carry out the buyout of the Japanese-headquartered multinational conglomerate.
Finance Minister Choo elected next chair of ADB annual congress
Finance Minister Choo Kyung-ho has been elected as the chair for next year's annual Asian Development Bank (ADB) conference, which is slated to be held in May. According to the Ministry of Economy and Finance, Friday, Choo was elected to take the chairmanship position for next year's annual ADB meeting during a two-day ADB annual congress held Sept. 28 and 29 in Manila, the P...
Is gov't too optimistic about Korea's economic condition?
Minister of Economy and Finance Choo Kyung-ho reiterated that he thinks that the possibility of the Korean economy having a major financial crisis is very low. During a meeting with reporters at the annual congress of Asian Development Bank (ADB) in the Philippines, Choo said that the current phase of soaring key interest rates cannot carry on in the long term.“Although no on...
Toss Securities' app briefly lists wrong won-dollar exchange rate
Toss Securities' foreign exchange service mistakenly provided a much lower won-dollar exchange rate for about 16 minutes on Wednesday afternoon even though the Korean currency continues to weaken against the greenback. The error apparently gave some customers a brief window to make a handsome profit by trading their won holdings into dollars.
Korea's default risk rises to peak level during pandemic outbreak
Korea's credit default swap (CDS) premium, a representative indicator that shows the country's risk of bankruptcy, has not only reached the highest point for this year, but it has also reached its highest level during the pandemic outbreak.
Former vice finance minister criticizes Koreans for buying dollars
A former vice finance minister criticized Korean citizens and investors who hoard U.S. dollars as they speculatively bet on the U.S. currency.
Viva Republica raises half of intended capital
Viva Republica has wrapped up its Series G investment round raising a total of 530 billion won ($371 million), about half of what it had aimed to attract during the round. According to the investment banking industry Tuesday, the comprehensive fintech company, which covers banking, brokerage and payment, completed the Series G investment round at the end of last month, with i...
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