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The Korea Times

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Asia

The Korea Times

Finance

Companies

Fri, February 3, 2023 | 15:30

K bank decides to delay IPO plan

K bank decides to delay IPO plan

K bank has officially decided to halt its IPO procedure, due mainly to unfavorable market conditions that attributed to a decline in the internet-only bank's corporate value. The bank made the decision earlier this week, five days before the deadline for submitting a prospectus for its IPO procedure.

Anna J. Park | 2023-02-03 14:43

KOSPI rallies as Fed shows signs of slowing rate hikes

KOSPI rallies as Fed shows signs of slowing rate hikes

The benchmark KOSPI advanced Thursday after the U.S. Fed slowed its pace of rate hikes, in a relief rally buoyed by increasing hopes for an end to the cycle of global monetary tightening. Other multiple indices also moved in favor of risky assets, with the U.S. dollar losing its ground against the Korean won. Cryptocurrencies extended gains after the Fed's “unsurprising” deci...

Lee Min-hyung | 2023-02-02 16:39

Dutch chip firm ASM to invest $100 mil. in Korea for facility expansion

Dutch chip firm ASM to invest $100 mil. in Korea for facility expansion

Korea's industry ministry said Thursday it agreed with Dutch semiconductor equipment supplier ASM to boost cooperation for the firm's planned investment of $100 million to build a production factory and a research and development center in Korea.

2023-02-02 14:24

New Hanwha Investment leader to focus on risk management

New Hanwha Investment leader to focus on risk management

Hahn Doo-hee, president of Hanwha Asset Management, will move to Hanwha Investment & Securities as the latter's new CEO, in a strategic reshuffle of top management amid rapidly changing market conditions. Hahn is best known for his expertise in a broad range of financial investment businesses.

Lee Min-hyung | 2023-02-02 08:29

Toss Bank offers new group account product

Toss Bank offers new group account product

Toss Bank, one of Korea's major internet-only banks, announced Wednesday that it has newly launched a joint deposit account product called the “group account,” through which a group of people can jointly manage a shared account.

Anna J. Park | 2023-02-01 15:43

'Big 3' financial groups recognized in this year's Bloomberg Gender-Equality Index

'Big 3' financial groups recognized in this year's Bloomberg Gender-Equality Index

The country's three largest financial groups - KB, Shinhan and Hana - are included in this year's Bloomberg Gender-Equality Index which tracks companies' commitment to gender equality and transparency, the companies said Tuesday. The three are among 484 listed companies from 45 countries that have committed to five key pillars presented by the index.

Yi Whan-woo | 2023-01-31 15:22

Hybe acquires 56.1 percent stake in AI sound startup Supertone

Hybe acquires 56.1 percent stake in AI sound startup Supertone

Hybe, the Korean entertainment agency behind supergroup BTS, said Tuesday it has invested 45 billion won ($36.5 million) to acquire 56.1 percent of stake in Supertone, an artificial intelligence (AI) sound startup.

2023-01-31 10:28

Industrial output down 1.6% in Dec. amid weak exports

Industrial output down 1.6% in Dec. amid weak exports

Korea's industrial output fell 1.6 percent on-month in December, data showed Tuesday, as the manufacturing sector remained sluggish amid weak exports.

2023-01-31 10:04

Shinhan Financial launches group-wide data network

Shinhan Financial launches group-wide data network

Shinhan Financial Group has formed a single, group-wide network connecting the data of all its affiliates, the lender announced on Monday. It said its One Data network is aimed at standardizing data across its major affiliates, including Shinhan Bank, Shinhan Card, Shinhan Securities and Shinhan Life Insurance.

Yi Whan-woo | 2023-01-30 16:21

Bank operating hours return to normal amid union opposition

Bank operating hours return to normal amid union opposition

From Monday, five major commercial banks in Korea will return to their normal operating hours, opening at 9 a. m. and closing at 4 p.m. The lenders decided to shorten their operating time by an hour 18 months ago, opening at 9:30 a.m. and finishing at 3:30 p.m., due to coronavirus-led social distancing policies in July 2021.

Anna J. Park | 2023-01-29 17:04

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