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Reporter : Anna J. Park
Tue, May 30, 2023 | 14:23
JB Financial, KT&G brace for proxy fights at shareholders' meetings
More than seven out of 10 listed Korean companies are set to hold annual shareholders' meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a...
M&A continues to thrive as companies pressured to sell assets: Samil PwC report
The global M&A market is forecast to boom, despite economic recessions and soaring inflation, as companies come under pressure to sell parts of their businesses and cut debt, according to a recent Samil PwC's global M&A trend report.
Will Credit Suisse cut back investment banking operation in Seoul?
As talks continue over UBS' acquisition of Credit Suisse, questions are being raised about the Korean operations of the collapsed Swiss bank, which has long been known for its unique forte in investment banking (IB), particularly in the M&A market in Korea.
Meritz Securities sanctioned for capital market act violations
The Financial Supervisory Service (FSS) imposed a penalty of 2 billion won ($1.52 million) as well as an organizational warning to Meritz Securities for various violations of the Capital Markets Act. The financial authority also advised the firm to reprimand 64 staff members.
Investment banks compete for HMM sale advisory roles
Major investment banks, accounting firms and law firms are competing to win advisory roles for an upcoming sale deal of HMM, a global shipping logistics company of which the controlling stake is currently held by Korea Development Bank (KDB) and Korea Ocean Business Corporation (KOBC).
[INTERVIEW] Retired FSC chief finds inspiration exploring Koreans' ancestral roots
A veteran financial bureaucrat for over thirty years, Kim Seok-dong was a key architect of Korea's economic growth from 1980 to 2013. Known for his intelligence, focus and natural charisma, he succeeded at climbing to the top echelon of the financial authorities, serving as a Chairman of the Financial Services Commission (FSC) - Korea's top financial regulator - for three yea...
LVMH allegedly joins takeover bid to acquire Missha
LVMH Group, the world's largest luxury group, which operates the global beauty store Sephora, has joined a preliminary takeover bid to acquire a controlling stake of Able C&C, the operator of cosmetics brand Missha, according to media reports and sources.
Apple Pay service starts in Korea
Apple began its near-field communication (NFC) based mobile payment service, Apple Pay, in Korea, Tuesday, under a partnership with Hyundai Card, the country's third-largest credit card company. After registering their cards on Apple Pay, Hyundai Card users can make payments at stores with their iPhones, iPads, as well as Apple Watch. Mac users can also pay through Apple Pay ...
EcoPro Materials faces setback in IPO plan
Battery materials business group EcoPro is facing a major setback to its plan to list its key subsidiary EcoPro Materials within this year, as prosecutors investigate the company over allegations of insider trading by some of its former and incumbent executives and staff employees. According to the financial authorities, a joint investigation team on financial crimes establis...
MBK Partners acquires FCCL maker NexFlex
MBK Partners is adding Korea's top flexible copper clad laminate (FCCL) maker NexFlex to its investment portfolio, as Asia's largest private equity firm signed a stock purchase agreement (SPA) with SkyLake Equity Partners, the owner of the FCCL manufacturer, late last week.
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