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Reporter : Lee Min-hyung
Fri, July 1, 2022 | 01:16
Samsung Electronics shares expected to bottom out in Q2
Samsung Electronics shares are expected to bounce back sometime in the third quarter, after memory chip prices bottom out in the near future, analysts said. Investors have been going on a selling spree of Samsung shares so far this year, due to a skeptical semiconductor market outlook over falling DRAM prices.
Minimum wage policy faces major overhaul under new administration
The incoming administration headed by President-elect Yoon Suk-yeol will seek to overhaul the country's highly controversial minimum wage policy in a bid to help small businesses reeling from the economic fallout of the prolonged COVID-19 pandemic. The dispute is centered on revamping President Moon Jae-in's pro-labor wage policies by applying differential wage systems for ea...
SC, Hyundai join hands to develop premium financial products
Standard Chartered (SC) Bank Korea has teamed up with Hyundai Card to jointly develop premium financial products. Under the strategic partnership, both companies will launch a credit card sometime in the latter half of 2022, which they said allows customers to enjoy special promotional benefits from SC and Hyundai Card.
Korea's inflation accelerates at fastest pace in 11 years
Korea's inflation has been accelerating at its fastest pace in over a decade, with consumer prices topping 4 percent in March for the first time in 11 years. This was sparked by global oil price hikes following the outbreak of war in Ukraine earlier this year, according to Statistics Korea. The statistics agency said that the nation's consumer price index stood at 106.06 in M...
Mirae Asset Securities wins awards from Hong Kong exchange
Mirae Asset Securities has won multiple awards from Hong Kong Exchanges and Clearing (HKEX) for its outstanding transaction volume growth there, the company said Monday. According to the leading brokerage house here, Mirae Asset's Hong Kong branch won two awards from the HKEX: Top Breakthrough Broker-ETF Turnover and Top Participating Dealer-ETF Creation & Redemption.
Will KOSPI achieve major turnaround in Q2?
The benchmark KOSPI is expected to achieve a major turnaround in the second quarter, on hopes of a global economic recovery and diminished monetary uncertainties, even if Russia's prolonged invasion of Ukraine remains as a risk factor, analysts said Monday. The main bourse displayed a lukewarm performance throughout the first quarter as investors avoided risky assets amid hei...
Kyobo pledges to block 'hostile' takeover attempt by Affinity
Kyobo Life Insurance has pledged to block what it called a “hostile” attempt led by its financial investor, Affinity Equity Partners, to take over management control of the life insurer. Kyobo said it held a regular shareholders' meeting last week where legal representatives from the Affinity consortium insisted that the insurer's top management, including Chairman Shin Chang...
Banks rush to establish ESG committees
Banks are rushing to establish in-house committees dedicated to environmental, social and corporate governance (ESG) management, as part of their efforts to tighten internal structures for transparent ESG management at a time when global institutional and retail investors place more value on companies with clear roadmaps for sustainable growth.
Securities firms feared to become target as watchdog launches special inspection team
A special investigative body launched by Korea's financial watchdog is straining securities firms on fears that they may become a target of the new inspection team. According to the Financial Services Commission (FSC), its newly-launched Special Judicial Police started its operation on Thursday to step up an investigation into any illegal acts in the local capital market. The...
Middle-aged people jumping into crypto investment
Cryptocurrency investment is catching the attention of middle-aged people, with those in their 40s holding the largest amount of assets in their accounts among those at Korea's top five cryptocurrency exchanges, data shows. According to data from the Financial Supervisory Service (FSS), 40-something investors' account balances reached 17.5 trillion won as of the end of 2021. ...
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