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Reporter : Anna J. Park
Wed, March 29, 2023 | 15:55
Gold price nears all-time high amid financial jitters
The price of gold has been rising amid increased uncertainty hovering over the global financial banking sector. While the global price of the precious metal nears its record high reached during the summer of 2020, its trading price at the Korea Exchange (KRX) gold market hit an all-time high recently.
Markets | 2023-03-28 16:06
Samsung Pay partners with Hana Financial to issue student IDs
Samsung Pay can now feature a student ID in its mobile application, as it partners with Hana Financial Group to strengthen its digital wallet functions. The move is part of a series of steps Samsung Pay is taking to expand its versatility, following Apple Pay's recent launch in Korea.
Companies | 2023-03-28 16:05
Gov't to lower threshold for corporate M&As
Financial authorities will ease prerequisite legal requirements for business acquisitions by companies in an attempt to foster corporate mergers and acquisitions (M&As). The Financial Services Commission (FSC), the top financial regulator of the country, will lower the capital qualifications required of companies who attempt tender offers for the purchase of company stocks fr...
Economy | 2023-03-27 17:14
Kakao seeks to bolster SM's global presence as new owner
Kakao has successfully acquired its target of a 35 percent stake in SM Entertainment through its tender offer, which was launched on March 7, becoming the largest shareholder of the global K-pop powerhouse.
Markets | 2023-03-26 16:52
JB Financial, KT&G brace for proxy fights at shareholders' meetings
More than seven out of 10 listed Korean companies are set to hold annual shareholders' meetings throughout this week and market watchers are paying particular attention to JB Financial and KT&G, whose annual meetings are expected to become the settings of proxy fights initiated by activist funds. JB Financial Group is facing a showdown in a proxy battle with Align Partners, a...
Companies | 2023-03-26 16:18
M&A continues to thrive as companies pressured to sell assets: Samil PwC report
The global M&A market is forecast to boom, despite economic recessions and soaring inflation, as companies come under pressure to sell parts of their businesses and cut debt, according to a recent Samil PwC's global M&A trend report.
Markets | 2023-03-23 16:43
Will Credit Suisse cut back investment banking operation in Seoul?
As talks continue over UBS' acquisition of Credit Suisse, questions are being raised about the Korean operations of the collapsed Swiss bank, which has long been known for its unique forte in investment banking (IB), particularly in the M&A market in Korea.
Companies | 2023-03-23 16:32
Meritz Securities sanctioned for capital market act violations
The Financial Supervisory Service (FSS) imposed a penalty of 2 billion won ($1.52 million) as well as an organizational warning to Meritz Securities for various violations of the Capital Markets Act. The financial authority also advised the firm to reprimand 64 staff members.
Companies | 2023-03-22 16:29
Investment banks compete for HMM sale advisory roles
Major investment banks, accounting firms and law firms are competing to win advisory roles for an upcoming sale deal of HMM, a global shipping logistics company of which the controlling stake is currently held by Korea Development Bank (KDB) and Korea Ocean Business Corporation (KOBC).
Markets | 2023-03-22 16:12
[INTERVIEW] Retired FSC chief finds inspiration exploring Koreans' ancestral roots
A veteran financial bureaucrat for over thirty years, Kim Seok-dong was a key architect of Korea's economic growth from 1980 to 2013. Known for his intelligence, focus and natural charisma, he succeeded at climbing to the top echelon of the financial authorities, serving as a Chairman of the Financial Services Commission (FSC) - Korea's top financial regulator - for three yea...
Economy | 2023-03-22 08:15
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