Economy
Woori Financial eyes acquisition of Korea Foss Securities
Korea Foss Securities, an online-exclusive brokerage company, is up for sale and Woori Financial Group is reviewing the acquisition of the firm.
Jan 29, 2024
Anna J. Park
Korea Times Politics & City Reporter
Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Read more
Banking & Finance
Is Toss' 20 tril. won valuation reasonable?
Major securities firms that have recently been preparing proposals to be selected as lead underwriters of Toss' IPO plan have assessed the financial super app company's corporate valuation of around 15 to 20 trillion won ($11-15 billion). But a growing number of criticis are pointing out that the valuation is exaggerated, considering the fintech firm's substantial losses.
Jan 28, 2024
Economy
M&As among savings banks expected to rise amid real estate PF crisis
Mergers and acquisitions (M&As) are expected to increase in the savings bank sector later this year, as some small lenders, whose financial status has been exacerbated by a real estate project financing (PF) crisis gripping Korea, are likely to be put up for sale.
Jan 28, 2024
Economy
Tesla's quarterly earnings miss drags down Korean secondary battery stocks
As Tesla released a disappointing quarterly earnings report that largely missed its estimates on Wednesday afternoon (U.S. time), shockwaves rippled to many Korean stocks related to the secondary battery sector on Thursday's session.
Jan 25, 2024
Economy
Celebrity chef Paik Jong-won's food biz aims to go public
Theborn Korea, a food franchise business led by Korean culinary star Paik Jong-won, aims to go public by the end of this year. It is the second attempt by the company to go public since a failed effort in 2018.
Jan 25, 2024
Economy
INTERVIEW Core of 'Korea discount' lies in poor investor protection
Weak investor protection and poor corporate governance are the key causes of the so-called "Korea discount," according to a famed professor of finance at Seoul National University who has long delved into the matter. The Korea discount refers to the unique characteristic of the Korean stock markets where listed companies' shares are traded at prices lower than their fundamentals.
Jan 24, 2024
Economy
KOFIA chief vows to prioritize resolving 'Korea discount'
Korea Financial Investment Association (KOFIA) Chairman Seo Yoo-seok emphasized that the investment association's top priority for this year is to resolve the "Korea discount," referring to the overal undervaluation of korean-listed companies.
Jan 23, 2024
Economy
Financial authorities to impose stricter obligations on convertible bond market
Financial authorities are pushing to strengthen the disclosure obligations on the issuances of convertible bonds, aiming to bring more transparency to the convertible bonds market by ensuring a timely provision of sufficient information.
Jan 23, 2024
Economy
Financial authorities vow to bring regulations more in line with global standards
The Financial Services Commission (FSC), the country's top financial regulator, has pledged to create a favorable environment for foreign financial companies through regulatory improvements that are more in line with global standards.
Jan 22, 2024
Economy
Internet-only banks post 70% jump in mortgage loans
Internet-only banks have logged substantial growth in the number of mortgages offered to borrowers, seeing their collective balance increase year-on-year by more than 70 percent during the past year, far surpassing the country's four major lenders' increase rate that stood at 3 percent last year.
Jan 22, 2024