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Reporter : Lee Min-hyung
Fri, September 22, 2023 | 20:15
GS shares nosedive on reconstruction of apartment complex
Shares of GS Engineering & Construction (GS E&C) fell sharply Thursday after the company announced its decision to completely rebuild an apartment complex after a collapse in an underground parking garage. The stock price of the construction company extended a loss of more than 18 percent following GS' overnight announcement that it would demolish all 17 apartment buildings a...
Woori Financial Capital chief pledges to focus on risk management
Woori Financial Capital CEO Jeong Yeon-ki has pledged to consolidate the firm's risk management capabilities for stable growth, after taking office as the new leader of Woori's capital arm.
Financial firms to tighten monitoring on rising delinquency rate
The top five financial holding firms here will focus on monitoring potential business risks in the second half, as part of a preemptive move to deal with rising delinquency rates.
China slaps export curbs on essential chip-making metals
China said on Monday it would slap export controls on two rare metals essential for the manufacture of semiconductors over security concerns, as Beijing and Washington tussle over the global market for chips.Exports of gallium and germanium, of which China is a major producer, will require a license from August 1, according to a guideline issued by the Ministry of Commerce an...
Shinhan chairman vows to enhance internal regulatory control
Shinhan Financial Group Chairman Jin Ok-dong pledged to enhance its internal control system by adopting a management responsibilities map at the earliest possible date. “All the work processes should be justified by thorough an internal check system for sustainable growth of the group,” Jin said during a meeting with employees of Shinhan Life Insurance, Monday.
Securities firms accelerate closures of sales offices
Brokerage houses are accelerating the closures of sales offices, as part of efforts to cut fixed costs and focus business on the wealthy, data showed Monday.
Korea Exchange urged to beef up monitoring of unfair trading
The Korea Exchange is being urged to bolster the monitoring of unfair trade practices, as it investigated only 27 cases involving such violations in the first half of this year, data showed Friday. According to data compiled by Rep. Yoon Young-deok of the main opposition Democratic Party of Korea, the exchange operator monitored a total of 109 unfair trading practices in 2021...
Will KOSPI continue downward spiral?
The benchmark KOSPI is on track to enter an adjustment period amid a selling spree by foreign investors seeking to take profits sparked by a weakening valuation of the Korean won against the U.S. dollar. According to data from the Korea Exchange, foreign investors net sold 893.2 billion won ($677.64 million) worth of Korean shares between June 1 and 29.
Tax agency launches all-out probe into private tutoring institutions
The tax authority has launched sudden probes into major private tutoring institutions, in an apparent exercise of political pressure after popular private educators complained about the government's education policy.
Woori, Kyobo vie for acquisition of MG Non-Life Insurance
Woori Financial Group and Kyobo Life Insurance are expected to jump into the race to acquire MG Non-Life Insurance, in their bid to build tighter business portfolios amid toughening market competition. The sales process of the mid-tier insurer will begin sometime as early as July after the ruling of its first trial.