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  • Companies

    Will Homeplus liquidation decision be postponed again?

    Homeplus has submitted an amended rehabilitation plan just three days before a court deadline, but its failure to secure a crucial 200 billion won ($129 million) capital injection is increasing uncertainty over whether the troubled retailer will face liquidation, industry sources said Wednesday. The Seoul Bankruptcy Court will now assess the feasibility of the revised proposal to determine whether to continue with rescue proceedings or dissolve the company. Although the current deadline expires this Friday, expectations are rising that the court will defer the date once more to review the new submission. The country’s second-largest retail chain, controlled by private equity firm MBK Partners, filed for corporate rehabilitation on March 4 last year after struggling with financial difficulties and facing credit rating downgrades. The original deadline for court approval of its rehabilitation plan was March 4 this year, but the court first extended it to May 4 before granting an additional extension until this Friday. Bankruptcy law dictates that a rehabilitation scheme must receive appr

    3 MIN READBy Jun Ji-hye
    Will Homeplus liquidation decision be postponed again?
  • Business

    InterviewAirbility bets on high-speed drones as Iran war reshapes counter-drone market

    4 MIN READBy Lee Hyo-jin
    Airbility bets on high-speed drones as Iran war reshapes counter-drone market
  • Tech & Science

    SK hynix finishes filing for US depositary share offering

    2 MIN READBy Nam Hyun-woo
    SK hynix finishes filing for US depositary share offering
  • Companies

    Renault Korea's June sales plunge 45 % on weak demand

    1 MIN READBy Yonhap
    Renault Korea's June sales plunge 45 % on weak demand
  • Companies

    GM Korea's June sales rise 6.6% on robust overseas demand

    1 MIN READBy Yonhap
    GM Korea's June sales rise 6.6% on robust overseas demand
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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.

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Banking & Finance

Seoul shares down late Tuesday morning amid eased US downgrade woes

Korean stocks trimmed earlier gains late Tuesday morning amid the fading concerns of the U.S. credit rating downgrade. Opening 0.74 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) had gained 3.1 points, or 0.12 percent, to 2,606.52 as of 11:20 a.m. Moody's slashed the U.S. sovereign credit rating to "Aa1" from "Aaa" late Friday (U.S. time), citing the government's huge debt load. Wall Street on Monday, however, ended slightly higher, shrugging off the downgrade by Moody's. The Dow Jones Industrial Average rose 0.32 percent, and the S&P 500 inched up 0.09 percent. The tech-heavy Nasdaq Composite climbed 0.02 percent. In Seoul, major shares traded in mixed territory. Chip giant Samsung Electronics rose 0.36 percent, and its rival SK hynix added 2.06 percent. The state-run Korea Electric Power Corp. jumped 3.17 percent, and Hybe, a record label behind global superstars BTS, increased 2.41 percent. However, leading battery maker LG Energy Solution tumbled 4.63 percent, and defense giant Hanwha Aerospace dropped 0.12 percent. The local currency was trading at 1,393.2 won ag

May 20, 2025By Yonhap
Seoul shares down late Tuesday morning amid eased US downgrade woes
Companies

Assets, profits of top 4 biz groups rise, but employment stays flat: data

Korea's top four biggest business groups — Samsung, SK, Hyundai Motor and LG — have seen significant growth in assets and net profits over the past three years but little change in employment levels, a market tracker said Tuesday. The combined assets of the top four business groups totaled 1,444.8 trillion won ($1,039 billion) in 2024, up from 1,360 trillion won in 2023 and 1,255.7 trillion won in 2022, according to the Leaders Index. Their assets have been on a steady rise since topping the 1,000 trillion-won mark in 2019. The big four's combined assets accounted for 53.1 percent of the total assets held by the country's 30 largest conglomerates in 2024. Their net profit also soared 30.8 percent over the 2022-2024 period, while the top 30's net profit edged up 0.8 percent. However, the Leaders Index noted that the increase in assets and profits has not led to a parallel rise in hiring. The number of employees in the top four groups remained nearly unchanged, rising from 745,000 in 2022 to 746,000 in 2024. The 30 largest groups, on the other hand, saw their total number of employees inc

May 20, 2025By Yonhap
Assets, profits of top 4 biz groups rise, but employment stays flat: data
Companies

British chamber to host inaugural British Business Awards next week

The British Chamber of Commerce in Korea (BCCK) will honor companies that have significantly contributed to strengthening trade relations between the two countries next week. The awards will be presented during the 2025 King’s Birthday Dinner, a black-tie banquet event scheduled for May 30 in Seoul. The inaugural 2025 BCCK British Business Awards will celebrate winners across five categories: U.K. Impact in Korea, Campaign of the Year, Responsible Business of the Year, Innovative Business of the Year and the Chair’s Award for Personal Contribution. The organization began accepting applications for nominations last month. According to the BCCK, the awards will “recognize outstanding achievements by businesses and individuals that made a significant impact on the British-Korean business landscape.” The awards will shine a spotlight on entities that have made a lasting impact on bilateral commerce, as well as those with notable marketing or corporate social responsibility practices. Companies committed to embracing diversity, equity and inclusion, as well as environmental, social, a

May 20, 2025By Ko Dong-hwan
British chamber to host inaugural British Business Awards next week
Banking & Finance

Corporate direct financing surges in April on spike in debt sales

Corporate direct financing in Korea soared in April as companies heavily sold debt amid increased uncertainties stemming from U.S. tariffs, data showed Tuesday. Local companies raised a combined 30.8 trillion won ($21.19 billion) last month by selling stocks and bonds, up 8.86 trillion won, or 41.2 percent, from the previous month, according to the data from the Financial Supervisory Service. Stock sales fell by 20.4 percent on-month to 373 billion won last month, while share sales via initial public offerings dipped to 90.9 billion won from 169 billion won over the cited period. Corporate bond sales surged 42.5 percent month-on-month to 30.43 trillion won. The value of outstanding corporate bonds stood at 713.69 trillion won as of end-April, up 9.02 trillion won from a month earlier, the data showed.

May 20, 2025By Yonhap
Corporate direct financing surges in April on spike in debt sales
2025 Presidential Election

Conservative candidate vows more incentives for foreign firms

Presidential candidate Kim Moon-soo of the conservative People Power Party (PPP) pledged Monday to boost foreign investment in Korea by assuring foreign companies a more stable and business-friendly environment. “(If elected) I will remove unreasonable regulations to enable larger and more confident investments in Korea. While offering tax benefits and increasing investment incentives for companies, I will pursue labor reforms to nurture future talent by improving the structure of the labor market,” Kim said during a luncheon with the American Chamber of Commerce in Korea (AMCHAM) in central Seoul. During the event, Kim outlined his key policy agenda and priorities aimed at shaping Korea’s long-term economic trajectory, including U.S.-Korea economic relations, regulatory reform and innovation strategies, with over 200 leaders from the global business community. “I’ve admired (candidate Kim Moon-soo’s) sharp insight, unwavering integrity and visionary leadership, particularly in the areas of innovation and economic development, and look forward to engaging in a meaningful dia

May 19, 2025By Lee Gyu-lee
Conservative candidate vows more incentives for foreign firms
Banking & Finance

KB Kookmin Bank's Indonesian subsidiary posts first quarterly profit after 5 years

KB Kookmin Bank’s Indonesian subsidiary, KB Bank, turned a profit in the first three months of this year, five years after the Korean lender acquired a controlling stake acquisition in 2020, the company said Monday. The Indonesian subsidiary, formerly PT Bank KB Bukopin Tbk, reported a profit of 342.2 billion rupiah (28.74 billion won) for the January to March period, ending a five-year stretch of losses despite KB Bank’s capital injection of 1 trillion won into the entity through 2022. The dramatic turnaround more than offset the Indonesian entity's annual net loss of over 802 billion won in 2022, followed by another significant net loss of 104.4 billion in the first quarter of last year. This is expected to help KB Kookmin Bank’s first quarter global net income turn a profit this year. In 2024, the Korean lender's global net income posted a net loss of about 2.56 billion won in the first three months, a significant contraction from the 96.2 billion won in net profit a year prior. According to the financial market, the Indonesian entity was able to turn a profit, aided by reduced

May 19, 2025By Lee Kyung-min
KB Kookmin Bank's Indonesian subsidiary posts first quarterly profit after 5 years
Companies

Domino's donates for child patients

Domino’s Pizza Korea CEO Oh Kwang-hyun, left, poses with Seoul National University Hospital President and CEO Kim Young-tae after presenting a cash donation of 100 million won ($72,000) to support child patients at Seoul National University Hospital in Seoul’s Jongno District, Monday. Domino’s Pizza Korea has made annual donations to the hospital every year since 2005, with total contributions reaching 1.7 billion won. The funds have helped treat nearly 700 child patients, including 276 from low-income families. Additionally, the company has been donating to Gangnam Severance Hospital and Samsung Medical Center since 2010. Courtesy of Domino’s Pizza Korea

May 19, 2025By Ko Dong-hwanphoto
Domino's donates for child patients
Banking & Finance

Busan-headquartered KSD steps up corporate responsibility in region

Korea Securities Depository (KSD) is stepping up efforts to enhance corporate social responsibility as a financial institution in Busan, a city that struggles with population decline and other economic difficulties, company officials said Monday. The institution is focusing on three areas — helping university students find jobs, operating a fund to revitalize the local economy and supporting poverty-stricken older adults. The KSD has been expanding its vocational program for university students across the city. The program aims to help candidates find jobs with the depository. It now operates at 12 universities, up from five in 2019. In addition, 1.98 billion won ($1.44 million) in scholarship funds have been distributed to more than 200 students over a 10-year period. Despite being the second-largest city in the country, Busan grapples with much of the same economic decline currently affecting rural areas, as the nation's GDP relies heavily on Seoul. To help the city overcome these challenges, the KSD donated 750 million won between 2018 and 2023 to the Busan ESG Fund, which was formed

May 19, 2025By Yi Whan-woo
Busan-headquartered KSD steps up corporate responsibility in region
Banking & Finance

Kbank’s postponed IPO undermines BC Card’s financial soundness

The delayed initial public offering (IPO) of Kbank is emerging as a stumbling block for BC Card, which is restructuring its revenue model following the departure of key member companies such as Woori Card, industry officials said Monday. BC Card, a subsidiary of KT, is the largest shareholder of the internet-only bank, holding approximately 34 percent of its shares. The card company, which is urgently seeking investment to diversify its business portfolio, reported a sharp decline in net profit for the first quarter of this year, due mainly to the fallout from the postponed Kbank IPO. With the IPO still delayed, BC Card is under growing pressure, as it may not be able to recover its initial investment and may even be forced to inject additional capital to acquire Kbank shares held by financial investors. According to the Financial Supervisory Service’s electronic disclosure system, the card firm reported a net profit of 34.1 billion won ($24.4 million) for the first quarter of this year, down 29.9 percent from 48.7 billion won a year earlier. The decline was largely attributed to a drop

May 19, 2025By Jun Ji-hye
Kbank’s postponed IPO undermines BC Card’s financial soundness
Companies

InterviewPatent monetization offers Korean firms easy revenue amid economic uncertainty: Global legal finance experts

In times of economic uncertainty, companies may hesitate to invest heavily in new products or untapped markets. But what if there's a revenue source that's been largely overlooked — one that's already sitting on the balance sheet? That’s where patent monetization comes in, extracting value from a corporation's intellectual property (IP). This takes several forms. Firms can pursue direct enforcement through litigation to seek damages or negotiate settlements for unauthorized use. Or more commonly, they opt for divestiture, including sale or spin-off of patent assets, to streamline their portfolios and gain liquidity. "People are looking for new, creative ways to generate revenue. And this is an easy fix, because it's sitting right there," said Eric Carlson, Burford Capital's managing director. "You put a lot of hard work and money into developing IP, and it's literally sitting on the shelf in many instances. That's a whole new revenue stream that can be unlocked." The Korea Times conducted an exclusive interview with the Burford Capital team during their visit to Korea on May 13, when

May 19, 2025By Lee Yeon-woo
Patent monetization offers Korean firms easy revenue amid economic uncertainty: Global legal finance experts
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