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Fri, July 1, 2022 | 00:59

How will Korea-Lone Star dispute end?

A multi-billion-dollar suit filed by U.S. private equity firm Lone Star against the Korean government is drawing to an end, drumming up interest over how it will turn out after a 10-year legal battle. For the Korean government, losing the suit could mean having to pay $4.67 billion to Lone Star in compensation as the American company has demanded.

2022-06-30 16:50

Shinhan chief cleared of corruption charges

Shinhan Financial Group Chairman Cho Yong-byoung has overcome a major legal hurdle and has extended his term at Shinhan, as the Supreme Court acquitted him on corruption charges in relation to the lender's employee hiring practices. The court issued the ruling on Thursday, thereby clearing the way for the Shinhan chief to serve for a third term.

2022-06-30 16:42

Lotte Card joins UN Global Compact

Lotte Card has joined the United Nations Global Compact (UNGC) in an effort to strengthen its environmental, social and corporate governance (ESG)-based management activities. According to the firm, Thursday, the card company joined the U.N.-backed voluntary governance framework, which is based on CEO commitments to implement universal sustainability principles and take steps...

Anna J. Park | 2022-06-30 16:41

NongHyup Financial strengthens ESG vision

NongHyup Financial Group Chairman Son Hyun-hwan stressed the importance of the environmental element out of the so-called environmental, social and corporate governance (ESG) management principles, urging group subsidiaries to better cope with the challenges caused by climate change. NongHyup Financial announced Thursday that it held its Social Value and Green Finance Committ...

Anna J. Park | 2022-06-30 16:17

Hana Financial Group launches internship program for youth and social enterprises

Hana Financial Group has launched an internship program that aims at promoting the mutual growth of young jobseekers and social enterprises. According to the group, the Hana Power On Innovative Firm internship aims at building a bridge between innovative enterprises and young jobseekers.

2022-06-30 14:27

Senior US Treasury official meets fintech leaders in Korea

A senior U.S. Treasury Department official has met with leaders of Korean fintech service industries.

2022-06-29 17:31

KB Kookmin Bank to co-lead JFK airport project financing

KB Kookmin Bank announced Wednesday that it will jointly lead a financing project for constructing the New Terminal One (NTO) at John F. Kennedy International Airport. The Seoul-based lender said it will be leading the project financing deal along with other global partners, including Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corporation (SMBC) and ING Ba...

Anna J. Park | 2022-06-29 16:32

Meritz Asset CEO offers to quit amid controversy

Meritz Asset Management CEO John Lee has offered to step down following allegations that he violated the capital market law while managing the firm's peer-to-peer (P2P) private equity fund. Lee has led the asset management firm since 2014 and extended his term three times. His current term expires at the end of March next year, but he appears to have chosen to resign from the...

2022-06-29 15:01

Int'l tribunal brings to close decade-long Korea-Lone Star dispute

An international tribunal declared an end to all proceedings in a multi-billion dollar suit U.S. private equity firm Lone Star filed against Korea's government 10 years ago over disputes surrounding its asset sell-off, according to the justice ministry Wednesday.

2022-06-29 15:01

[INTERVIEW] NH Investment & Securities accelerating growth in Hong Kong

HONG KONG - Korean financial firms are seeking to expand overseas operations as they face limits in the domestic market. But as relative latecomers and foreign entities, overseas expansion has proven a difficult task due to substantial barriers to entering overseas markets that are dominated by larger existing players. NH Investment & Securities, which has been in Hong Kong s...

2022-06-29 14:30

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