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Finance

Non-banks

Wed, April 14, 2021 | 23:49

Mirae Asset sues Shinhan over fund fiasco

Mirae Asset Securities said Wednesday that it filed a lawsuit against Shinhan Investment last week demanding compensation for the 9.1 billion won ($8.1 million) it had to return to investors of Lime Asset Management's fraudulent trade finance fund.

Park Jae-hyuk | 2021-04-14 16:30

Mirae Asset to reap handsome profits from Didi Chuxing, Grab IPOs

Mirae Asset Securities is expected to make handsome profits from its pre-IPO investments in Chinese vehicle-for-hire giant Didi Chuxing and Southeast Asian ride-hailing and food delivery giant Grab, as both companies are expected to go public in the U.S. in the coming months.

Anna J. Park | 2021-04-13 16:32

Will Hyundai Card vice chairman avoid handling labor issues?

Chung Tae-young, who has served as the sole leader of Hyundai Motor Group's (HMG) three financial units - Hyundai Card, Hyundai Capital and Hyundai Commercial - over the past 14 years, is set to share his burden with three new chief executives, who are supposed to be appointed after each company's board meeting later this month. The three nominees are Hyundai Card CEO Kim Deo...

Park Jae-hyuk | 2021-04-12 09:14

State deposit insurer KDIC sells 2% stake in Woori Financial

The state-run Korea Deposit Insurance Corp. (KDIC) said Friday it sold a 2 percent stake in Woori Financial Holdings Co. as part of efforts to recoup taxpayer money injected into the company.

2021-04-09 13:37

China still obstructs KakaoPay's MyData business

KakaoPay is still facing difficulties in its attempt to win a MyData license, as the Chinese authorities have yet to respond to a request from the financial authorities here to confirm whether or not the Korean fintech firm's second-largest shareholder, Alipay, is under any sanctions there. The MyData business is regarded as a future growth engine for most financial firms her...

Park Jae-hyuk | 2021-04-05 16:33

Local securities firms increase dividend payouts

Most local securities firms have announced increased dividend payouts for shareholders based on record-high profits from last year's stock market boom. The investor-friendly measures are being unveiled during the annual shareholders' meeting season that lasts until the end of this month.

Anna J. Park | 2021-03-25 17:12

Korean Re sues AXA, Allianz in London

Korean Reinsurance Company, or Korean Re, filed lawsuits against Allianz and AXA at a U.K. court earlier this month, asking the two global financial firms to pay a total of $12.4 million based on their reinsurance contracts, to cover the cost of insurance of the Stellar Banner - a 300,000-ton vessel grounded off the Brazilian coast last year.

Anna J. Park | 2021-03-24 17:48

SK Securities, first Korean financial company to acquire right to trade carbon emissions

SK Securities announced that it acquired Korean Offset Credits (KOC), the official right to trade carbon emissions, becoming the first financial company to do so in Korea. The offset credit is a right to carbon emissions that can be traded on the carbon market.

Anna J. Park | 2021-03-20 10:03

Mirae Asset stops sponsoring LPGA golfers to prioritize ESG

Mirae Asset Financial Group has stopped its 12 years of sponsorship for Korean female golfers to concentrate more on its efforts to satisfy environmental, social and corporate governance (ESG) criteria, the company said Friday.

Park Jae-hyuk | 2021-03-19 15:39

Hyundai Card unveils 'the Purple osee'

Hyundai Card unveiled “the Purple osee,” a renewed version of its premium card, the Purple, the company said Thursday.

Kim Yoo-chul | 2021-03-18 16:34

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