my timesThe Korea Times
bkim

Kim Bo-eun

Korea Times Digital Content Reporter

Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.

Go to Email

Read more

Tech & Science

Samsung facing changes in governance structure

By Kim Bo-eunThe likelihood of regulatory changes is a complicated matter for Samsung, as this would force the conglomerate to overhaul its governance structure.According to the Insurance Business Act, stocks held by an insurer of an affiliate company should be limited to 3 percent of the insurer's total assets.The proposed revisions state that the stake an insurance business holds in an affiliate company should be calculated according to market value rather than book value.Ruling Democratic Party of Korea (DPK) lawmakers Park Yong-jin and Lee Yong-woo proposed these revisions to the insurance business act in June. The lawmakers contend that if a company holds an excessive portion of another firm's stocks, this exposes it to risks if the stock price tumbles. Because Samsung Life is an insurer, this exposes policyholders to risks.This is not the first time such revisions have been proposed, but this time they are likely to be passed, considering the DPK now holds the majority of National Assembly seats. The bill will be discussed at the Assembly later this month.The passage of the rev

Sep 1, 2020By Kim Bo-eun
Samsung facing changes in governance structure
Banking & Finance

Will KakaoPay consider AXA acquisition?

KakaoPay CEO Ryu Young-joon / Courtesy of KakaoPayBy Kim Bo-eunThe delay in KakaoPay getting approval to launch a non-life insurance unit is raising questions over whether the fintech platform will consider acquisition of AXA Korea, which is being put up for sale, as its “Plan B.”KakaoPay stated it would establish a digital insurance unit as it broadens its line of businesses. The financial services platform acquired an insurtech firm and has been selling products of other insurers but is now seeking to develop policies of its own by setting up an insurance unit. KakaoPay had planned to apply for a license from financial authorities by July.However, the fintech firm has yet to submit required documents to the Financial Services Commission (FSC), according to KakaoPay, Monday.KakaoPay did not provide details on what was causing the delay. "KakaoPay is in talks with financial authorities," an official said. "Approval to establish the unit is being delayed, but we plan on launching the entity as soon as possible."Reports have attributed the lack of progress to KakaoPay strug

Aug 31, 2020By Kim Bo-eun
Will KakaoPay consider AXA acquisition?
Banking & Finance

Lime fiasco clouds Shinhan Investment's mega IB prospects

Shinhan Investment's headquarters on Yeouido, Seoul / Korea Times fileBy Kim Bo-eunShinhan Investment's prospects of joining the five major brokerages in becoming a mega investment bank have been clouded by its involvement in a scandal involving Lime Asset Management.Shinhan's brokerage unit not only distributed Lime's trade finance fund, but was also involved in designing the investment vehicle with Lime. Investors have been unable to redeem their investments based on Lime's mismanagement of funds. Lime has been disbanded after its executives were found to have been involved in multiple irregularities. The executives are currently on trial.The Financial Supervisory Service alleged that Shinhan Investment drew investors for the fund despite being aware at the time of the possibility that investors may not be able to retrieve their investments.Prosecutors have sought an eight-year prison term for a manager at the brokerage who headed its prime brokerage service division.Shinhan Investment has denied the allegations raised against its prime brokerage division.“We cannot accept th

Aug 30, 2020By Kim Bo-eun
Lime fiasco clouds Shinhan Investment's mega IB prospects
Banking & Finance

Pop-up bank branches the way to go?

BNK Kyongnam Bank operates a pop-up branch in this file photo. / Korea Times fileBy Kim Bo-eunThe Financial Supervisory Service (FSS) proposed Sunday that banks come up with alternatives such as pop-up bank branches in the event they close down branches in rural areas which makes access to financial services difficult, particularly for the elderly.The plan comes as the authority and lenders have been in conflict over shutting down branches in recent years.Lenders have been reducing branches to cut costs in the digital era as many services that formerly required visiting a branch are now accessible online. The FSS has warned banks against excessive downsizing of branches, citing this would affect senior citizens in rural areas for whom accessing bricks-and-mortar branches will become increasingly difficult.The authority said lenders should consider setting up infrastructure that would be able to provide financial services for senior citizens in the event of a branch closing in a certain area.The FSS proposed the lenders could operate the pop-up branches in the form of buses that

Aug 30, 2020By Kim Bo-eun
Pop-up bank branches the way to go?
Banking & Finance

Will KDB chief succeed in eliciting Asiana M&A deal?

By Kim Bo-eunKorea Development Bank Chairman Lee Dong-gullAll eyes are on whether Korea Development Bank (KDB) Chairman Lee Dong-gull will be able to prompt Hyundai Development Company (HDC) to push on with the deal to acquire Asiana Airlines.While the KDB, which leads Asiana's creditors, did not provide details of Lee's meeting with HDC Chairman Chung Mong-kyu, Wednesday, the state-run lender stated it "held discussions, keeping all possibilities regarding acquisition conditions open."It appears Lee has offered significant concessions in terms of reducing the cost burden for HDC to bring the company back to the table. The consortium led by HDC had agreed to sign a stock purchase agreement on the acquisition of Asiana from Kumho Industrial, the construction unit of Kumho Asiana Group, in December. But in June, HDC requested a review of the deal be conducted from scratch after the COVID-19 pandemic greatly affected the airline industry.HDC has called for a 12-week due diligence of Asiana to look into its financial condition, as circumstances have worsened from eight months earlier. Ku

Aug 27, 2020By Kim Bo-eun
Will KDB chief succeed in eliciting Asiana M&A deal?
World

Pope to resume limited public audiences in September

Pope Francis will resume limited public weekly audiences early next month, the Vatican announced Wednesday, six months after the head of the Catholic Church halted the practice because of the coronavirus pandemic.The Wednesday events will be held in a closed courtyard of the Vatican's Apostolic Palace, where a maximum of 500 seats will be placed, rather than in St Peter's Square, a Vatican spokesman told AFP.Entry into the courtyard will open without reservation two hours before the audience, which will start at 09:30 (0730 GMT), the Vatican official said.Jorge Bergoglio - the birth name of Francis - last hosted an audience on February 26, as the grip of the COVID-19 disease closed around Italy.Then the Argentinian pope, who is fond of direct contact, shook hands with dozens of faithful and hugged a few children massed in the front row of the audience of some 12,000 people.At the time, few were wearing face masks for protection.Shortly afterwards, the pope cut back his schedule because of a "cold", raising questions about his health.So far, the coronavirus has killed more than 35,000

Aug 26, 2020By Kim Bo-eun
World

FOREX-Currency markets in subdued mood ahead of key Fed speech

The dollar and the euro traded cautiously on Wednesday as investors refrained from taking risky bets a day ahead of a key speech by Federal Reserve Chairman Jerome Powell. Amid growing speculation Powell could unveil a softer policy stance towards inflation at the annual Jackson Hole retreat on Thursday, investors are bracing for the Fed's possible new steps to prop up the U.S. economy. "Targeting average inflation over time rather than setting a fixed 2% goal would likely mean lower rates for longer", said Raffi Boyadjian, senior investment analyst at online broker XM. "Hence, if the Fed confirms such a move, the greenback would stand little chance of a meaningful rebound anytime soon", he added, calling the mood in currency markets "somewhat subdued" due to the uncertainty. Both a policy change announcement or the lack of are expected to resonate strongly across trading floors. "Either the Chairman drops something juicy for "reflationistas" (aka USD bears) or the USD rips higher for a few weeks", Stephen Innes, chief global markets strategist at AxiCorp, wrote in a morning note. "I

Aug 26, 2020By Kim Bo-eun
World

Top Japan government spokesman signals push to re-open economy, boost stimulus

Japan wants to avert another state of emergency and needs to consider more stimulus to revive the economy, the government's top spokesman said, signalling Tokyo's resolve to focus on re-opening businesses hammered by the coronavirus pandemic. Chief Cabinet Secretary Yoshihide Suga also dismissed speculation that Prime Minister Shinzo Abe may step down for health reasons, saying Abe's comments on Monday that he would continue to do his best in his job "explains it all". Suga - widely seen as one of the main contenders to succeed Abe - said he had no intention of pursuing the post, even if urged to do so by associates. He said he "never thought about" taking on the position. Japan has seen a resurgence of COVID-19 infection numbers after ending nationwide state of emergency measures in late May, posing a dilemma for the government as it struggles to contain the virus without deepening the economic downturn. "We want to avoid another state of emergency that could have a big negative impact on the economy," Suga told Reuters on Wednesday, sending a clear message the emphasis was on spurr

Aug 26, 2020By Kim Bo-eun
Economy

Should distributors of mismanaged financial products be held liable?

Financial Supervisory Service (FSS) Governor Yoon Suk-heun presides a meeting with the CEOs of local banks held at the Korea Federation of Banks last month. On Tuesday he urged financial firms that distributed Lime Asset Management's trade finance funds to follow through with the FSS order to compensate 100 percent of the invested monies in the fund. / Korea Times fileBy Kim Bo-eunAll eyes are on the decision banks and brokerages will reach on Aug. 27 on compensating investors of financial products they sold of the now-defunct Lime Asset Management. The Financial Supervisory Service (FSS) has directed them to offer full compensation for a trade finance fund, which is among Lime's funds for which redemptions were halted based on its mismanagement of investments.Controversy continues as the distributors of the investment products have been designated to provide compensation and the investment firm managing the funds has been let off the hook.The FSS concluded in June that distributors of Lime's funds, including Woori and Hana banks, and brokerages Shinhan Investment and Mirae Asset Dae

Aug 26, 2020By Kim Bo-eun
Should distributors of mismanaged financial products be held liable?
Banking & Finance

Donations for social enterprises

KB Kookmin Card CEO Lee Dong-cheol, center, poses with Korea Social Enterprise Promotion Agency President Kim In-seon, right, and Kids & Future Foundation Executive Director Park Doo-joon, after donating 200 million won to the two organizations at the card firm's headquarters in central Seoul, Tuesday. KB Kookmin Card said the donation was provided to support social enterprises and the underprivileged amid the resurgence of COVID-19. / Courtesy of KB Kookmin Card

Aug 26, 2020By Kim Bo-eun
Donations for social enterprises
previous page
5455565758
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.