my timesThe Korea Times
Business

Banking & Finance

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.

AIA ramps up green campaign

AIA Korea CMO Hwang Ji-ye, left, and Kim Jin-kon, secretary general of the Seoul Branch for the Community Chest of Korea, hold a sign, Monday, expressing gratitude for AIA Korea's contribution of 100 million won ($83,640) to the non-profit charity organization for the advancement of the life insurer's carbon neutrality drive by 2050. Courtesy of AIA Korea

Jan 11, 2022By Lee Kyung-min
AIA ramps up green campaign

LG Energy Solution confident about overtaking CATL

LG Energy Solution CEO Kwon Young-soo and the firm's business executives join an online press conference to mark its planned initial public offering, Monday. YonhapBy Lee Kyung-min LG Energy Solution (LGES), a wholly owned subsidiary of LG Chem, will be able to dethrone its Chinese competitor, CATL, the global top electric vehicle (EV) battery manufacturer, the firm's CEO said Monday. The LG subsidiary's capability is unmatched by its market peers, as clearly illustrated by a variety of intellectual property rights over key technologies that have earned the trust of clients and partner firms in the U.S. and across Europe, LGES CEO and Vice President Kwon Young-soo said. “We have clients in key global markets encompassing Europe, the U.S, and China, unlike CATL whose growth strategy is defined by heavy reliance on government policy whereby Chinese carmakers were mandated to use domestically produced batteries only,” he said in a press conference held virtually at company headquarters in Seoul.The future prospect of the LG subsidiary overtaking the current top player in the

Jan 10, 2022By Lee Kyung-min
LG Energy Solution confident about overtaking CATL

Woori eyes takeover of SK, Yuanta or eBest Securities in 2022

Woori Financial Group Chairman Son Tae-seung / Courtesy of Woori Financial GroupBy Lee Min-hyungWoori Financial Group is stepping up its efforts to take over one of the nation's medium- to small-sized securities firms ― such as SK Securities, Yuanta Securities or eBest Investment & Securities ― as part of the group's major growth strategies this year.Even if Woori hopes to acquire a major brokerage house to enhance its non-banking portfolio, there stands little chance for such a company to be put up for sale, at a time when securities firms generate record earnings on pandemic-era liquidity and prolonged low interest rates.But the investment industry leaves open the possibility that Woori may be able to clinch a takeover deal with one of the medium- to small-sized securities firms, as the stock market is not expected to continue its bullish run this year.Investors are losing their confidence in the Korean stock market, with main bourse KOSPI extending losses for more than a week since the beginning of 2022.Industry sources pointed out that the key lies in whether Woori will be ab

Jan 10, 2022By Lee Min-hyung
Woori eyes takeover of SK, Yuanta or eBest Securities in 2022

Conventional conglomerates will not survive in digital era: Hyundai Card chief

Hyundai Card Vice Chairman and CEO Chung Tae-young / Courtesy of Hyundai CardBy Lee Min-hyungTraditional Korean conglomerates cannot survive in the new digital era unless they stop dwelling on the past through outdated growth models, Hyundai Card Vice Chairman and CEO Chung Tae-young said.“Conventional conglomerates have the feeling of helplessness in the new world dominated by digitalization and platforms, as their rosy days have gone when they thrived with capital strength and organizational power,” he said on his Facebook page.Against a similar backdrop, he went on to say that elite groups should have curiosity towards the outside world.“Those without any curiosity, sensitivity and exchanges with the outside world are nothing more than expert groups living in the past,” he said.Chung is one of the financial leaders here emphasizing the importance of creativity and technology. Early this year, he shared Hyundai Card's corporate vision of bolstering its presence as the nation's leading financial technology company.“In 2022, all industries will be domina

Jan 10, 2022By Lee Min-hyung
Conventional conglomerates will not survive in digital era: Hyundai Card chief

M&A expert to lead GS' corporate venture capital firm

GS Ventures CEO Heo Jun-nyeongBy Park Jae-hyukAn investment expert, who handled international mergers and acquisitions previously at Mirae Asset and UBS, became the leader of the first corporate venture capital (CVC) firm established in Korea by a non-financial holding company.According to GS Group, Vice President Heo Jun-nyeong of GS Holdings was appointed as the first CEO of GS Ventures, which was established last Friday as a wholly owned CVC subsidiary of the group's holding firm. CVC refers to the investment of corporate funds directly in external startup companies.Heo is known for his career as chief financial officer of Hyperconnect, where he enabled the Azar video chat app operator to be sold for $1.7 billion last February to the Nasdaq-listed Match Group, which is well known for its dating app Tinder. He joined GS Group late last year, several months after the sale of the mega-size Korean startup.Under his leadership, GS Ventures plans to make direct investments in promising Korean startups focusing on the bio industry, climate change solutions, resource recycling, retail bus

Jan 10, 2022By Park Jae-hyuk
M&A expert to lead GS' corporate venture capital firm

KDB, Eximbank, IBK seek global expansions in 2022

State-run bank CEOs pose at the Korea Federation of Banks' headquarters in Seoul, during their meeting with Financial Services Commission (FSC) Chairman Koh Seung-beom in this September 2021 file photo. From left are Korea Development Bank Chairman Lee Dong-gull, Export-Import Bank of Korea CEO Bang Moon-kyu and Industrial Bank of Korea CEO Yoon Jong-won. Courtesy of FSCBy Park Jae-hyukState-run banks are set to open more outlets overseas throughout this year, as their CEOs emphasized the necessity of financing Korean companies doing businesses in other countries.In line with the global trend of nurturing digital finance and shifting toward renewable energies, the banks are especially pushing ahead with establishing subsidiaries and branches in areas that are viewed as international financial hubs and centers of innovative and eco-friendly industries.Korea Development Bank (KDB) Chairman Lee Dong-gull said in his New Year's address that the bank will convert its Frankfurt office in to a branch, setting up a venture capital desk in Europe.These measures are intended to gain a foothold

Jan 9, 2022By Park Jae-hyuk
KDB, Eximbank, IBK seek global expansions in 2022

No jab, no job: Citigroup to fire unvaccinated staff this month

People walk past the Citigroup building in New York, in this Nov. 17, 2008, file photo. Citigroup staff in the United States who have not been vaccinated against COVID-19 by Jan. 14 will be placed on unpaid leave and fired at the end of the month unless they are granted a medical exemption, according to a company memo seen by Reuters, Friday. Reuters-YonhapCitigroup staff in the United States who have not been vaccinated against COVID-19 by Jan. 14 will be placed on unpaid leave and fired at the end of the month unless they are granted an exemption, according to a company memo seen by Reuters, Friday.The U.S. bank announced its plan to impose new vaccination rules in October and now becomes the first major Wall Street institution to follow through with a strict vaccine mandate.Its move comes as the financial industry grapples with how to bring workers back to offices safely and get back to business as usual at a time when the highly infectious Omicron coronavirus variant is spreading like wildfire.Other major Wall Street banks, including Goldman Sachs Co, Morgan Stanley and JPMorgan

Jan 8, 2022
No jab, no job: Citigroup to fire unvaccinated staff this month

Deloitte Anjin Korea CEO ready to serve another term

Hong Jong-sung, CEO and Country Managing Director at Deloitte Korea / NewsisBy Anna J. ParkHong Jong-sung, the Country Managing Partner at Deloitte Anjin LLC's Korea office, the local unit of New York-based Deloitte, is expected to maintain his top position at the firm, which he has had since March 2019.Deloitte Anjin LLC is a member of Deloitte Touche Tohmatsu Limited, DTTL, the world's largest accounting and consulting firm.As the three-year term was positively evaluated by the firm, Hong has recently been appointed as the sole candidate at the firm's CEO candidate recommendation committee. The serving of the consecutive term will be confirmed at around the Jan. 20 following the firm's vote. The vote will be approved, only when two thirds of the firm's partners agree to the vote result. If Hong is appointed again, the managing director is expected to serve until March 2026, as the serving term for the top official seat has been extended from the current three years to four. Hong has been heading the global leader accounting firm since March 2019. Hong graduated from Korea Universit

Jan 7, 2022By Anna J. Park
Deloitte Anjin Korea CEO ready to serve another term

Naver, Kakao lose W12 tril. in market cap

Kakao and Naver logosBy Anna J. ParkKorea's two representative big tech companies Naver and Kakao have lost more than 12 trillion won in their market cap over the past four trading sessions, as their stock prices logged a downward pattern of continual slide. The fall is ascribed to various factors, including negative stock market shocks from the U.S., rising foreign exchange rates and unsatisfactory fourth-quarter earnings estimates. Naver ended at 338,000 won ($281), a 0.15 percent fall from the previous session, which is a seven-day consecutive losing streak. Kakao's stock price closed at 100,000 won on Friday, which is the same price from Thursday's closing. The current stock prices are each a fall of 27.2 percent and 42.2 percent from their peak levels logged last summer, respectively. Just this year alone, Naver's market cap lost 6.5 trillion won, while Kakao lost 5.5 trillion won. Both overseas and institutional investors are leading the slide of the stock prices, as they have been net-selling the two stocks since the end of last year.Market analysts view that the hints of an e

Jan 7, 2022By Anna J. Park
Naver, Kakao lose W12 tril. in market cap

Will Osstem Implant be delisted from Kosdaq?

Osstem Implant's logo on display at the company's headquarters in Seoul / YonhapKorea Exchange currently deliberating company's fateBy Anna J. ParkAlthough police on Wednesday arrested Lee, the employee of Osstem Implant suspected of embezzling some 188 billion won ($157.7 million) of company money on Wednesday, it's still uncertain whether the country's largest dental implant maker could avoid the unfortunate path of delisting from the tech-heavy Kosdaq market. Since the news of the embezzlement became public with Osstem's regulatory filing on Monday, the company's stock has been suspended indefinitely from trading on the Kosdaq. Retail investors are more than anxious over the suspension, while the jittery situation is probably the same for the dental device company's many overseas investors who hold about 45 percent of the firm's shares. According to the Korea Exchange (KRX) on Thursday, the question of its possible delisting cannot be clearly answered until late February due to the bourse operator's procedural process. “The KRX is currently examining and reviewing whether th

Jan 6, 2022By Anna J. Park
Will Osstem Implant be delisted from Kosdaq?
previous page
309310311312313
next page

Most Read in Business