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Tue, January 21, 2020 | 02:17

Life insurers suffer sharp profit decline

Life insurers suffer sharp profit decline

Life insurers here have suffered a sharp decline in net profits in the first three quarters of the year amid widening operating losses in their insurance businesses, data showed Sunday. According to data released by the Financial Supervisory Service, the combined net profit of 24 life insurers here reported 3.06 trillion won ($2.59 billion) during the period, down 24.3 percen...

Lee Min-hyung | 2019-12-01 17:10

Foreigners on selling spree of Korean stocks

Foreigners on selling spree of Korean stocks

Foreign investors went on a selling spree over the past four consecutive months amid prolonged U.S.-China trade tension, falling memory chip prices and other unfavorable business conditions, according to the Korea Exchange, Sunday.

Lee Min-hyung | 2019-12-01 17:02

S. Korea bolsters readiness to quell financial volatility amid US-China trade war

Macquarie about to buy Daesung Gases from MBK

Macquarie about to buy Daesung Gases from MBK

Macquarie is expected to buy Daesung Industrial Gases from MBK Partners in the near future, according to industry sources, Friday.

Park Jae-hyuk | 2019-11-29 14:43

Security concerns grow over cryptocurrency exchanges

Security concerns grow over cryptocurrency exchanges

Concerns have resurfaced over the credibility of cryptocurrency transactions, after the nation's largest digital currency exchange lost 58 billion won ($49 million) following a suspicious transaction. Dunamu, operator of the exchange Upbit, notified its users of the incident, saying that about 342,000 Ethereum units were transferred to an unidentified wallet from the Upbit Et...

Lee Min-hyung | 2019-11-28 16:52

KOMSCO unveils new tech to fight fake labeling

KOMSCO unveils new tech to fight fake labeling

The nation's minting corporation has unveiled an anti-counterfeit technology designed to detect forgery of luxury clothing brands' labels amid growing concerns over imitation products with fake labeling. The technology is used to produce a special clothing label with security materials. Once a detection device is placed near the label of a genuine product, an alarm rings from...

Lee Min-hyung | 2019-11-28 16:37

Samsung Fire & Marine Insurance tops 10 mil. subscribers

Samsung Fire & Marine Insurance tops 10 mil. subscribers

Samsung Fire & Marine Insurance now has more than 10 million subscribers, a first in the nation's insurance history, the company said Wednesday. The Samsung affiliate is the largest non-life insurer by sales in Korea.

Lee Min-hyung | 2019-11-27 16:38

Goldman Sachs raises valuation for Korean stock market

Goldman Sachs raises valuation for Korean stock market

Goldman Sachs has raised its valuation for the Korean stock market to “overweight” amid expectations for a recovery in the nation's large-cap tech industry, the global investment bank said Monday. In a research report, the company expected the benchmark KOSPI to make a meaningful rebound next year.

Lee Min-hyung | 2019-11-25 16:59

[INTERVIEW] 'Moon is just one of our customers'

[INTERVIEW] 'Moon is just one of our customers'

“Financial nationalism” was the term that Korean news outlets and the foreign press including the Economist used, when they described NH-Amundi Asset Management's “Victorious Korea Fund.”

Park Jae-hyuk | 2019-11-24 14:17

Seoul shares to trend lower next week on U.S.-China trade deal uncertainties

South Korean stocks are expected to remain weak next week as the United States and China struggle to reach a deal on their yearlong trade dispute and escalating unrest in Hong Kong poses yet another risk to the local stock market, analysts said Saturday.

2019-11-23 12:04

'Banks, brokerages, insurers care little about consumers'

'Banks, brokerages, insurers care little about consumers'

Customers have little confidence in financial services providers about their sales practices, consumer protections and risk management, a survey from a nonprofit investor rights advocacy organization showed Friday.

Lee Kyung-min | 2019-11-22 18:04

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