Business - The Korea Times

Korean stock market expected to gain momentum after presidential election

Optimism is growing that the Korean stock market will gain upward momentum as political uncertainty eases following Tuesday's presidential election, according to securities analysts on Tuesday. They said so-called honeymoon rallies have often followed past presidential elections, and similar expectations are emerging this time, with potential boosts from a supplementary budget and economic stimulus measures. Some highlighted the food and beverage sector — which is projected to post stronger earnings — along with financial and brokerage stocks as areas worth watching. Heo Jae-hwan, an analyst at Eugene Investment & Securities, cited statistics showing that in only one of the last three presidential elections did the stock market decline a month after the vote. He noted that historically, market conditions following elections have generally been favorable. "In the past nine presidential elections, the KOSPI rose by around 3 to 4 percent one month after the election and by 14 to 16 percent over the following year," Heo said. "Out of the nine cases, the KOSPI declined one month, three mon

Jun 3, 2025By Jun Ji-hye

Korean stock market expected to gain momentum after presidential election

KB, Shinhan to set up holding companies in Indonesia

The two largest financial groups in Korea — KB and Shinhan — will each create a holding company that will oversee their respective businesses in Indonesia, industry officials said Tuesday. KB Financial Group has nine subsidiaries in Indonesia, and Shinhan Financial Group has three. The holding companies will be set up according to guidelines from the Indonesian Financial Services Authority, also known as OJK. And the end of 2024, OJK implemented a regulation requiring foreign financial firms operating in Indonesia to establish a holding company if they meet certain criteria. The details concerning the criteria were not available. KB Financial Group and Shinhan Financial Group are subject to this regulation among the Korean businesses in Indonesia, industry officials explained. “OJK correspondingly asked the two Korean financial groups to submit a plan on establishment of a holding company by June 23,” an official said. He went on to say, “OJK will provide feedback within two months after it receives the plan, and once the plan is finalized, KB and Shinhan will be required to launc

Jun 3, 2025By Yi Whan-woo

KB, Shinhan to set up holding companies in Indonesia

Seoul shares nearly flat amid renewed tariff woes

Korean stocks finished slightly higher Monday, as investors took a wait-and-see posture ahead of the crucial presidential election amid signs of renewed trade tensions between the United States and China. The local currency rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.3 points, or 0.05 percent, to close at 2,698.97. Trade volume was moderate at 320.32 million shares worth 7.99 trillion won ($5.82 billion), with losers beating winners 523 to 369. Foreign and retail investors bought a net 127.34 billion won and 98.7 billion won worth of stocks, respectively, while institutions sold 240.17 billion won worth of shares. The index opened lower but soon turned higher, rising nearly 1 percent. But it had moved in and out of negative territory before ending slightly higher. Investor sentiment was dampened as U.S. President Donald Trump said last week that he planned to double tariffs on foreign imports of steel to 50 percent. He also upped trade tensions by accusing China of violating a trade agreement with the U.S. ahead of a scheduled call with Chi

Jun 2, 2025By Yonhap

Seoul shares nearly flat amid renewed tariff woes

Samsung Fire & Marine to host global insurance conference this week

Samsung Fire & Marine Insurance will host the Korea International Insurance Conference (KIIC) at Inspire Entertainment Resort in Incheon for two days starting Wednesday, the company said Monday. Now in its second year, the KIIC will bring together industry leaders and experts from leading global reinsurers, brokerage firms and related organizations. The conference aims to foster international exchange, deepen understanding of the insurance market and explore forward-looking strategies. Under the theme "Evolving Risks, Agile Action," this year's event will be co-hosted and sponsored by Samsung Fire — Korea's largest non-life insurer — in collaboration with major domestic and international non-life insurers and their affiliated institutions. At the conference, industry experts from top global insurers, including Aon and Munich Re, will share insights on navigating key uncertainties such as cyber threats and climate change risks in the non-life insurance sector. They will also discuss opportunities for new business development. The KIIC has notably grown this year in terms of scale. In 20

Jun 2, 2025By Jun Ji-hye

Samsung Fire & Marine to host global insurance conference this week

Seoul shares open higher on eve of presidential election

Korean stocks opened higher Monday, led by tech gains, one day before the presidential election. The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.75 points, or 0.7 percent, to 2,716.42 in the first 15 minutes of trading. South Korean voters were set to cast their ballots to choose a president on Tuesday, after former President Yoon Suk Yeol was ousted following the imposition of martial law in December. Front-runner Lee Jae-myung of the Democratic Party of Korea was vying against Kim Moon-soo of the conservative People Power Party. Eyes are also on developments of the U.S. tariff policy, after Trump said last week that he planned to double tariffs on foreign imports of steel to 50 percent. Trump also said that China "totally violated" a tariff agreement, renewing concerns about trade conflicts between the world's two largest economies. Most top-cap shares opened higher. Market bellwether Samsung Electronics surged 1.78 percent, and chip giant SK hynix soared 1.71 percent. Major bio firm Samsung Biologics added 0.87 percent, and leading battery maker LG Energy Solution advanced

Jun 2, 2025By Yonhap

Seoul shares open higher on eve of presidential election

Seoul shares rise to 10-month high on tech rally

Korean stocks finished markedly higher to hit a 10-month high Thursday, driven by gains in tech shares, following strong earnings from U.S. chip giant Nvidia Corp. The Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 50.49 points, or 1.89 percent, to close at 2,720.64. It marked the highest level since Aug. 2, when the index finished at 2,725.02. Trade volume was moderate at 444.45 million shares worth 10.79 trillion won ($7.8 billion), with winners beating losers 749 to 151. Institutions and foreign investors bought a net 684.56 billion won and 290.27 billion won worth of stocks, respectively. Individuals sold 996.99 billion won worth of shares. The KOSPI got a boost from Nvidia's earnings results. It reported a 69 percent on-year increase in revenue, reaching US$44.1 billion for the February-April period, analysts said. "With the vast majority of U.S. President Donald Trump's global tariffs blocked by the U.S. trade court, institutional and foreign buying pushed up the benchmark index," Lee Jae-won, an analyst at Shinhan Securities Co.

May 29, 2025By Yonhap

Seoul shares rise to 10-month high on tech rally

Kim & Chang lawyer to join IMM Private Equity

Lim Shin-kwon, a lawyer at major law firm Kim & Chang known for his expertise in merger and acquisition (M&A) advisory, is set to join IMM Private Equity (IMM PE), sources in the investment banking industry said Wednesday. Lim recently tendered his resignation at Kim & Chang and is expected to join IMM PE around August or September. Lim will take on the role of chief legal officer at the private equity firm, where he will oversee key responsibilities such as conducting legal reviews of investment deals, handling legal disputes and developing compliance frameworks. A graduate of Seoul National University, he passed the national bar exam in 1998. Kim & Chang describes Lim as an expert in M&As, corporate restructuring and private equity, offering legal counsel across these areas. "Lim has a wealth of experience advising both domestic and global funds, as well as major corporations, helping them successfully execute key transactions," the law firm’s website states. "He has played a key role in pioneering innovative deal structures that were attempted for the first time in Korea. In addition,

May 28, 2025By Jun Ji-hye

Kim & Chang lawyer to join IMM Private Equity

Regional bank delinquency rates hit 15-year high amid rising defaults of self-employed

The average delinquency rate at regional banks has soared past 1 percent this year, reaching its highest level in 15 years, industry officials said Wednesday. They attribute the increase to a downturn in regional economies, which has left a growing number of self-employed individuals and small businesses struggling to repay their debts. As of the first quarter of 2025, the average delinquency rate across Korea’s five major regional banks — BNK Kyongnam, BNK Busan, Kwangju, Jeonbuk and Jeju — reached 1.14 percent. This marks the highest figure since the third quarter of 2010 and nearly triples the rate recorded at major commercial banks. The rise has been especially steep this year, with the rate climbing 0.33 percentage points in just three months — up from 0.81 percent at the end of 2024. The trend is expected to continue. "Delinquency rates are expected to peak in the second half of the year," Kwon Jae-jung, chief financial officer at BNK Financial Group, said during the bank’s first-quarter earnings call on April 25. Warning signs are flashing across regional economies, as do

May 28, 2025By Lee Yeon-woo

Regional bank delinquency rates hit 15-year high amid rising defaults of self-employed

5 major banks support promising SMEs facing financial difficulties

Five major commercial banks in Korea are rolling out measures to support technologically promising small- and medium-sized enterprises (SMEs) that are financially distressed amid the deepening economic downturn, according to industry officials, Wednesday. The measures taken by KB, Shinhan, Hana, Woori and NH NongHyup come in response to data showing that a total of 2,339 SMEs nationwide in 2024 — up 24 percent from a year earlier — were at risk of not being able to service their debts and will eventually go bankrupt without timely support. The country’s largest lender, KB Kookmin Bank, plans to use some of its idle branches' consultation spaces for SMEs and self-employed individuals. The consulting services are scheduled to begin in the second half of the year, in collaboration with the Small Enterprise and Market Service, a government-affiliated SME support organization. Shinhan Bank is in discussions with financial authorities to nearly double the number of its corporate support centers, which they established last year. Aimed at addressing management challenges faced by SMEs, 16

May 28, 2025By Yi Whan-woo

5 major banks support promising SMEs facing financial difficulties

KB Bank Indonesia appoints new Indonesian president director

KB Bank Indonesia, the Indonesian subsidiary of KB Kookmin Bank, said Wednesday that it has appointed Kunardy Darma Lie as its new presidential director. This leadership transition follows the expiration of the term of former President Director Lee Woo-yeol. Kunardy is a seasoned financial expert with more than 20 years of international banking experience. He has held key leadership roles at Deutsche Bank, Citibank and DBS Bank, where he built a deep understanding of the Indonesian financial landscape and consistently demonstrated strong executive capabilities. He holds a bachelor's degree in computer engineering from the University of Texas and an MBA from the University of Rochester. Additionally, he is an active member of the CFA Institute. As president director, Kunardy outlined several strategic priorities, including stabilizing operations and establishing a sustainable profit base. He also emphasized the importance of strengthening cost efficiency and risk management and reinforcing relationships with government stakeholders and investors. With this new appointment, KB Bank Indonesi