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Mon, January 21, 2019 | 22:34

Economy > Finance >

KDB pledges radical reform for HMM

Korea Development Bank (KDB) has vowed to carry out intense reform of Hyundai Merchant Marine (HMM) to normalize the ailing shipping firm's management. KDB is HMM's largest shareholder with a 13.13 percent stake.

Finance | 2018-11-28 20:29

Cho, Sohn - true global communicators

Finance is a field without borders, with capital moving in and out of global markets instantly. For banks, it is important to attract long-term institutional investors for stability amid increasing volatility. To grab their attention, not only do chief executives have to show their financial companies are fundamentally strong in numbers, but also they need to be able to speak...

Finance | 2018-11-28 20:28

Foreign banks suffer worsening performance

Two foreign-invested commercial banks saw their profits drop in the third quarter of 2018, in stark contrast to their local counterparts which posted record-breaking profits in the same period.

Finance | 2018-11-28 18:22

Goldman Sachs slapped with largest fine over naked short selling

The financial regulator slapped Goldman Sachs International with a 7.55 billion won ($6.6 million) fine for short-selling stocks without borrowing them first from May 30 to 31, 2018. This marks the steepest penalty imposed on a financial company for irregular trading. The Securities and Futures Commission (SFC), an investigative body of the Financial Services Commission (FSC)...

Finance | 2018-11-28 17:14

Securities firms enhance IB business

Securities firms are enhancing their investment banking (IB) business to overcome Korea's sluggish stock market and a continuous decline in their earnings from stock trade fees. Mirae Asset Daewoo, one of the nation's top five brokerage houses by paid-in capital, announced Wednesday that it carried out a large-scale organizational reshuffle to strengthen its IB and wealth man...

Finance | 2018-11-27 18:40

Consumer sentiment falls to 21-month low in Nov.

Korea's consumer confidence fell to the lowest level in 21 months in November due to worsening economic data and volatile financial markets. This means that the nation's economy, already beset by sagging investment and a worsening job market, is highly likely to undergo further slowdown.

Finance | 2018-11-27 17:12

Shinhan joins 'responsible banking' initiative

Shinhan Financial Group Chairman Cho Yong-Byoung joined a global movement in setting up Principles for Responsible Banking, an international treaty drafted among noted financial institutions as part of efforts to better strengthen cooperation toward a more sustainable finance system, the bank said Tuesday.

Finance | 2018-11-27 17:11

Regulator seeks to boost fintech acquisitions

The Financial Services Commission (FSC) will further relax rules governing financial holding companies, banks and insurance firms to allow them to invest in or acquire financial technology startups, the regulator said Tuesday.

Finance | 2018-11-27 17:02

Timefolio suffers loss for first time on downturn

Timefolio Asset Management posted a loss - in the first of the year - for the first time since the firm was established 15 years ago. Korea's largest hedge fund operator is expected to post about a 5 percent loss in its 10 hedge funds on the back of growing uncertainties in the global economy.

Finance | 2018-11-26 18:22

'Legendary James' resigns as securities firm CEO

Korea Investment & Securities CEO Yoo Sang-ho has stepped down from his position, concluding his 12 successful years as Korea's longest-serving securities firm CEO, the firm said Monday.

Finance | 2018-11-26 17:15

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