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Reporter : Park Jae-hyuk
Sun, December 5, 2021 | 10:04
Mirae Asset antitrust probe sends island development in limbo
Mirae Asset Financial Group is considering scrapping a 1.5 trillion won ($1.27 billion) project to build a maritime tourism complex on Gyeongdo, an island in Yeousu, South Jeolla Province, apparently to protest the Fair Trade Commission's (FTC) recent investigation into the company.
Delayed Kakao Pay IPO feared to decrease profits for Samsung Securities
Samsung Securities could see a decrease in profits due to another delay in the planned initial public offering (IPO) of Kakao Pay amid strengthened regulations on financial services platforms. The Korean brokerage is the lead underwriter of the IPO along with JPMorgan and Goldman Sachs.
Tough regulations force banks to go abroad
Korea's banking groups are expected to further accelerate ongoing efforts to shift their focus overseas from the domestic market, as multiple financial regulations proposed ahead of the presidential election next year are set to deteriorate their earnings here. They are planning to offset worsening profits in Korea by seeking inroads into Southeast Asian countries with higher...
Eximbank move could pressure KB, IBK to appoint union-backed directors
Attention has been focused on whether KB Kookmin Bank and the Industrial Bank of Korea (IBK) will follow the example set by the Export-Import Bank of Korea (Eximbank), which became the country's first financial company and state-run institution to give a board seat to an expert recommended by its union.
Indefinite delay in Kakao Mobility IPO concerns TPG, Carlyle
Kakao Mobility has indefinitely delayed the selection of an underwriter for its listing on the benchmark KOSPI market next year, fueling expectations that TPG, Carlyle and other global investors may not be able to earn as much as they wanted from their investments in the Korean firm.
Watchdog to continue legal battle with Woori chair
The Financial Supervisory Service (FSS) has decided to appeal the Seoul Administrative Court's Aug. 27 ruling ordering the watchdog to revoke the heavy sanctions it had placed last year on Woori Financial Group Chairman Son Tae-seung.
Financial authorities virtually acquit HLB of unfair trading
The Securities and Futures Commission (SFC), a sub-commission within the Financial Services Commission (FSC), eventually rejected a request from the Financial Supervisory Service (FSS) to ask the prosecution to indict biopharmaceutical company HLB over an unfair transaction.
Goldman Sachs, Morgan Stanley reportedly handling Yanolja's US listing
Goldman Sachs and Morgan Stanley have reportedly been selected as underwriters for Yanolja's initial public offering (IPO), fueling expectations among investors that the hotel booking app operator intends to list itself on the U.S. stock market.
Korea braces for possibility of losing Lone Star case
The Korean government is not ruling out the possibility of losing a nine-year-long legal tussle with Lone Star Funds, which could lead to a massive outflow of over $4.6 billion in taxpayers' money to the U.S. private equity firm (PEF) in the worst-case scenario.
Google Pay set to expand presence in Korea
Google appears to be trying to let users in Korea pay for public transportation and make payments at bricks-and-mortar stores using the Google Pay mobile payment system, according to industry sources and media reports, Monday.
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