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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.

Tottenham Hotspur's Son Heung-min, Cho So-hyun join as AIA ambassadors

Son Heung-minBy Lee Kyung-min AIA Korea has appointed Tottenham Hotspur forward Son Heung-min and midfielder Cho So-hyun to boost longstanding partnerships with the professional football club.Cho plays for Tottenham Hotspur in the Football Association Women's Super League.The two will participate in brand campaigns and share personal insights, experiences and tips covering health, wellness and mental well-being, according to the insurer.“AIA has had a longstanding and successful global relationship with the Spurs and we are thrilled to bring Son and Cho personally to the AIA Korea team,” said Peter Chung, AIA Korea's Chief Executive. “They are role models that Koreans look up to and are proud of, but most importantly, believe and live the AIA Purpose of living Healthier, Longer, Better Lives,” Chung added.“AIA's message around promoting longer, healthier, better lives is one that resonates with my own upbringing of practicing football every day,” Son said. “I look forward to working with AIA Korea to share this message and inspiring people ac

Dec 1, 2021
Tottenham Hotspur's Son Heung-min, Cho So-hyun join as AIA ambassadors

LG Energy Solution gets preliminary approval for listing in S. Korea

LG Energy Solution logoKorean battery maker LG Energy Solution Ltd. has received preliminary approval for listing on the country's main stock market, the main bourse operator said Tuesday, taking one step closer to its much-anticipated market debut.The approval by the Korea Exchange (KRX), the country's main bourse operator, came as LG Energy Solution resumed the process for the initial public offering after it settled the battery recall issues with its U.S. client General Motors Co. last month. The KRX said that the IPO application has passed the preliminary review for listing eligibility. The company will need to file documents with the Financial Supervisory Service next month and go through the rest of the required procedures before the market debut likely scheduled for late January.The upcoming listing of the world's second-largest battery producer after China's CATL has drawn much attention as it is expected to be the biggest public offering in the South Korean stock market to date, with its market value estimated at up to 80 trillion won (US$67 billion), according to analysts.

Nov 30, 2021
LG Energy Solution gets preliminary approval for listing in S. Korea

More money moving into safer assets

Rising interest rates, Omicron fears dent investors' risk appetiteBy Lee Min-hyungThe ample market liquidity, created as a firewall against the COVID-19 pandemic, is flowing into safe assets including bank deposit accounts, as a variant of the virus that is potentially resistant to current vaccines is denting appetite for risk amid interest rate hikes by central banks. Data from the nation's top five commercial banks showed that more households have opted to deposit their money with them after the Bank of Korea (BOK) increased its key interest rate to 1 percent last weekThe combined balance in savings accounts at KB, Shinhan, Hana, Woori and NongHyup reached 654.79 trillion won, Nov. 26, a day after the central bank raised the benchmark rate. This was an increase of 992.6 billion won from the previous day.In addition there was a steep decrease in their customers' non-collateral loan balances. The lenders also saw a fall of 91.6 billion won in their collateral loan balances during the same period. This indicates customers are paying down their debt to reduce risks from a rapid increas

Nov 30, 2021By Lee Min-hyung
More money moving into safer assets
  • Omicron fears rout stock market

Omicron fears weigh on 2021 IPO plans

gettyimagesbankBy Anna J. ParkLittle is known about the Omicron variant of COVID-19 other than the fact that South Africa may be at the epicenter of the recent increase in cases of this strain of the coronavirus. No major announcements have been yetmade regarding lockdowns or factory shutdowns.But market sentiment isn't that favorable with the variant's emergence causing a burst of uncertainty and sending equity markets reeling. This situation could have a grave impact on Korea's initial public offerings (IPO), according to market analysts, Monday.Despite advances by major biotechnology firms in the development of vaccines, and potentially one that could deal with the Omicron variant, a growing number of countries are tightening travel restrictions; and investors are moving into “safer assets” such as gold or treasury bonds.Analysts say while it's too early to judge the impact of Omicron on the local equity market, the new COVID-19 variant could slam the brakes on the economic recovery in major markets, a negative factor in terms of investor sentiment for local companies

Nov 29, 2021By Anna J. Park
Omicron fears weigh on 2021 IPO plans
  • Stocks extend losses on escalating Omicron fear

Shinhan executive causes sensation on YouTube

Shinhan Bank Vice President Lee Byung-chul sings a song to promote the lender's pension product in this YouTube video clip. Screen capture from YouTubeBy Lee Min-hyungLee Byung-chul, vice president at Shinhan Bank's retirement pension division, is drawing attention on YouTube after the lender posted a video clip starring the executive singing and dancing to promote its pension products.Shinhan added a retro touch to the four-minute video that has generated 278,000 views in about 10 days after it was uploaded on Nov. 18.The pension business unit of Shinhan teamed up with its brand strategy division to write the lyrics and compose the music. The lyrics are about the life of a middle-aged man who has been able to enjoy his life after retirement due to his pension.It is rare for an executive in his 50s to star in such a comical video clip, but Lee's acting achieved outstanding success by attracting a number of subscribers for Shinhan's YouTube account. Users also left hundreds of comments, praising the quality of the content and Lee's bold decision to appear in the video.The 50-year-old

Nov 29, 2021By Lee Min-hyung
Shinhan executive causes sensation on YouTube

Woori awards high school LoL league champs

Woori Bank CEO Kwon Kwang-seok, right, poses with Ahyeon Polytechnic School students at LoL Park in Seoul, Saturday, after the students took the championship of the high school League of Legends (LoL) league hosted by the bank. Woori said Monday that 13 million won ($10,900) was awarded to the champions, while 7 million won was awarded to the runner-ups from Ungsang High School. Courtesy of Woori Bank

Nov 29, 2021By Park Jae-hyuk
Woori awards high school LoL league champs

SK E&S's gas field project in Australia raises controversy

By Lee Kyung-minSK E&S, an energy subsidiary of SK Group, is pushing for a gas field development project in the Barossa Valley, Australia, in what a local climate advocacy group recently said is a possible contradiction of the company's eco-friendly business drive. The $3.7 billion (4 trillion won) gas field set to operate for 20 years starting in 2025 goes against the subsidiary's much-touted sustainable growth initiative, as defined by its environmental, social and governance (ESG) values, according to Seoul-based Solutions for Our Climate.The push for the carbon-heavy business is all the more appalling, the group said, given the heightened awareness of and global consensus on the need to advance green objectives, as clearly outlined by the joint statement made by 33 countries against fossil fuel investments at the COP26. Otherwise known as the 2021 United Nations Climate Change Conference, COP26 was held from Oct. 31 through Nov. 13, in Glasgow, Scotland.But environmentalists vehemently criticized that claim, since only 16 percent of the produced total will be captured.The sub

Nov 28, 2021By Lee Kyung-min

KB's 'Small Library' campaign

Kim Jin-young, fifth from left, head of KB Financial Group's brand and environmental, social and corporate governance group, poses with government officials from South Chungcheong Province, during a ribbon-cutting ceremony before opening a library in Unsan. Under the group's “Small Library” project, the financial firm has sponsored the opening of 100 libraries for teenagers and the general public across the nation. Courtesy of KB Financial Group

Nov 28, 2021By Lee Min-hyung
KB's 'Small Library' campaign

Analysts split over future course of Samsung Electronics' stock price

By Anna J. ParkDespite achieving a record-high quarterly revenue of 73.9 trillion won ($6.2 billion) and the second-highest quarterly operating profit of 15.8 trillion won in the third quarter, Samsung Electronics' recent sluggish stock price movement is upsetting some four million local retail investors who parked their money in the company. After announcing quarterly earnings late last month, the stock price of Korea's largest blue chip company hovered around the 70,000 won mark, which is more than 38 percent lower than its 52-week high of 96,800 won logged in January this year. The lackluster stock performance was mainly due to forecasts of a further drop in memory chip prices after the fourth quarter. The stock price seemed to heat up again up early this week when it soared to 75,300 won at Tuesday's close following Samsung's announcement of a $17 billion investment to build a semiconductor manufacturing facility in Texas. The investment raised investors' expectations over the non-memory chip business, which is regarded a key growth engine. However, the stock price quickly fell b

Nov 26, 2021By Anna J. Park
Analysts split over future course of Samsung Electronics' stock price

Permission for Uzbek residents to trade cryptocurrencies benefits UzNEX

Kobea Group CEO Lee Chang-yong, right, receives a license for cryptocurrency exchange from Davron Maksudov, deputy director of the National Agency of Project Management under the President of the Republic of Uzbekistan, in this December 2019 file photo. Courtesy of Kobea Group By Park Jae-hyukKorean-owned Kobea Group's UzNEX, which has been the only licensed cryptocurrency exchange in Uzbekistan since 2019, is expected to enjoy benefits from the country's new law that allows its residents to trade cryptocurrencies.The law, which came into effect Monday, allows Uzbek residents to carry out all types of cryptocurrency trading, such as exchanging virtual assets for the national currency and selling such assets to non-residents in exchange for foreign currencies.In addition, Uzbek companies and citizens have been able to issue and distribute tokens as well as list them on a cryptocurrency exchange.Kobea said it received its license in December 2019 from the National Age

Nov 26, 2021By Park Jae-hyuk
Permission for Uzbek residents to trade cryptocurrencies benefits UzNEX
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