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Mon, December 4, 2023 | 15:37
Woori eyes possible M&A opportunity amid brokerages' rising delinquency rate
Woori Financial Group is forecast to identify the ongoing financial turmoil - sparked by brokerages' rising delinquency rates from their real estate project financing - as a possible opportunity for its long-awaited acquisition of a securities company. Securities firms are moving to pile up more allowance for bad debts amid the rapid deterioration of real estate sentiment.
Aviation stocks rally ahead of summer vacation season
Aviation stocks are picking up steam ahead of the summer vacation season on the expectation of airlines' earnings recovery driven by oil price cuts and growing travel demand.
Brokerage houses struggling to manage bad debt amid growing financial unrest
Securities firms are struggling to control rising bad debts amid growing financial unrest prompted largely by the real estate downturn.
Concerns rise over project financing risks
Concerns over real estate project financing are resurfacing in the capital market after GS Engineering & Construction (GS E&C) decided to bear losses of 550 billion won ($422 million) due to its decision to completely reconstruct an apartment complex in Incheon, west of Seoul.
Foreigners return to selling spree in Korean stock market
Foreign investors returned to a selling spree of Korean stocks in June, for the first time in three months, on rekindled fears of the U.S. Federal Reserve's anticipated next rate hike. According to data from the Financial Supervisory Service, foreigners sold local shares worth 322 billion won ($247 million) last month.
'Far too early' to discuss Korea's capital market rebound: experts
Korea's capital market has yet to find a track to solid recovery and is forecast to extend lackluster performance until global monetary uncertainties come to a complete end, market experts said.
Gov't to provide liquidity to MG Community Credit if necessary
The government will inject liquidity into MG Community Credit Cooperative and ensure the protection of all customers' deposits, even if the financial institution suffers a bank run, relevant authorities said in a joint briefing, Thursday. “We wanted to reassure the public and the cooperative's customers, as a pan-governmental team is stepping up monitoring of the institution'...
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.