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Sun, September 25, 2022 | 14:29

UAE begins operations of Korean-built No. 3 nuclear reactor

The United Arab Emirates (UAE) has started up the third unit of the Korean-built Barakah nuclear power plant, the country's nuclear energy corporation and Korea's state-run utility firm said Friday.

2022-09-23 11:31

Mirae Asset, IBK sign MOU to expand digital payment services

Mirae Asset Securities and Industrial Bank of Korea (IBK) signed an MOU to work together on various projects, including digitalization of transactions for small and medium-sized enterprises (SMEs), improving payment services for customers and joint research and searching for new businesses related to digitalization.

2022-09-22 16:12

Kyobo Lifeplanet Life Insurance appoints new CEO

Kyobo Lifeplanet Life Insurance has appointed Kang Tae-yoon as the new CEO to lead the company for the next two years. His term is slated to end in September 2024. Kang's appointment ended the era of the firm's long-serving former CEO, Lee Hak-sang, who led the company during the past decade, since the firm's official launch in 2013.

Anna J. Park | 2022-09-22 15:28

K bank unlikely to go public in 2022

K bank's much-anticipated initial public offering (IPO) is not in sight by the end of 2022, even after the internet-only bank won the qualification to go public on the local stock market. The Korea Exchange's listing notification committee confirmed Tuesday that the bank is qualified for listing here. Given that the qualification is effective for the next six months, K bank h...

Lee Min-hyung | 2022-09-21 14:06

POSCO Chemical, OCI begin construction of joint factory for battery coating material

POSCO Chemical, a Korean producer of advanced materials, said Wednesday the construction began for a domestic plant to produce a key coating material used in secondary batteries under a joint venture with chemical company OCI.

2022-09-21 10:47

KIC posts worst investment loss during H1

The Korea Investment Corporation (KIC), a sovereign wealth fund in the country, posted its worst investment loss in its asset evaluation for the first half of this year. According to data submitted by the KIC to Rep. Yang Kyung-sook of the main opposition Democratic Party, the KIC logged a 13.83 percent investment loss during the first six months of this year.

Anna J. Park | 2022-09-20 16:49

Amorepacific to sell 60% stake in packaging affiliate to France's Autajon Group

Korean cosmetics giant Amorepacific said Tuesday it has agreed to sell a 60 percent stake in its packaging making affiliate to France's Autajon Group, as part of its plan to strengthen ties with the French package maker.

2022-09-20 16:03

Board thwarts Woori Financial's attempt to acquire BNP Paribas Cardif Life

Woori Financial Group aims to push ahead with the expansion of its non-banking business portfolio, but the financial group's recent attempt to acquire BNP Paribas Cardif Life could not overcome the board's opposition. According to the investment banking industry, Woori Financial has been positively reviewing the option of acquiring the life insurance company in recent months....

Anna J. Park | 2022-09-20 15:54

Eximbank signs MOU with GS Energy on low-carbon energy business

The Export-Import Bank of Korea (Eximbank) will be providing GS Energy with 1 trillion won ($720 billion) in financing for the implementation of carbon-neutral policies as well as for laying the groundwork for energy independence. The bank, operating under the wing of the Ministry of Economy Finance, announced on Tuesday that it had signed an MOU with the energy solution comp...

2022-09-20 14:27

Financial firms continue to close offline offices amid increased use of mobile services

The number of offline offices run by financial firms in Korea declined more than 1,000 over the past year as the use of mobile services spiked amid their fast transition to digitalization, data showed Tuesday.

2022-09-20 14:01

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