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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

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Companies

Thu, March 30, 2023 | 14:57

Woori Bank CEO abruptly resigns

Woori Bank CEO abruptly resigns

Woori Bank CEO Lee Won-duk tendered his resignation, Tuesday, in the lead-up to the official appointment of new Woori Financial Group Chairman Yim Jong-ryong who competed with Lee for the nomination last month. Lee's decision came on the same day the banking group carried out a reshuffle of the CEOs of eight affiliates whose terms expired.

Yi Whan-woo | 2023-03-07 16:51

Haitai denies suspicions of inflating sales figures to boost share price

Haitai denies suspicions of inflating sales figures to boost share price

Haitai Confectionary & Foods is suspected of inflating sales performance figures by billions of won between 2016 and 2017, raising suspicions that it manipulated information intentionally to jack up its stock price. The head office denied the suspicions, blaming “regional sales offices” for the irregularities.

Lee Yeon-woo | 2023-03-07 16:06

Internet banking customers up 8.5% in 2022 on mobile service use

Internet banking customers up 8.5% in 2022 on mobile service use

The number of customers for internet banking in Korea continued to grow in 2022 as more online services are available and people prefer transactions on the go, central bank data showed Tuesday

2023-03-07 13:51

Kakao announces tender offer to gain stable management control over SM

Kakao announces tender offer to gain stable management control over SM

Korean tech giant Kakao on Tuesday announced a tender offer for SM Entertainment shares to gain stable management control over the K-pop powerhouse and increase leverage to win the intensifying battle with Hybe.

2023-03-07 10:54

Where are singers and fans in SM's management dispute?

KakaoBank's CEO to begin 4th term in late March

KakaoBank's CEO to begin 4th term in late March

KakaoBank CEO Yoon Ho-young successfully secured his fourth two-year term that will begin later this month. Kakao Bank announced Monday that the internet-only bank's executive appointment committee selected Yoon as the sole candidate for the bank's next chief. The decision on the digital bank's next top position will be officially confirmed at its shareholders' meeting slated...

Anna J. Park | 2023-03-06 17:05

Foreign exodus feared to dampen stock sentiment in March

Foreign exodus feared to dampen stock sentiment in March

Korean stocks will take a rollercoaster ride throughout March following an unexpected exodus last week of foreign investors who refrain from betting big on local stocks amid prevailing market uncertainties ahead of the U.S. Federal Reserve's upcoming rate-setting meeting, analysts said Monday.

Lee Min-hyung | 2023-03-06 16:51

Authorities, lenders to launch $21 billion fund for ailing builders

Authorities, lenders to launch $21 billion fund for ailing builders

The country's financial authorities and financial firms decided to launch a 27 trillion-won ($21 billion) fund next month to help construction firms struggling with the credit crunch and an increased number of unsold new apartments, the regulator said Monday.

2023-03-06 14:31

SM Entertainment cancels deal to issue new shares, convertible bonds to Kakao

SM Entertainment cancels deal to issue new shares, convertible bonds to Kakao

SM Entertainment said Monday it has rescinded a contract to issue new shares and convertible bonds to tech giant Kakao as the K-pop company's estranged founder Lee Soo-man won an injunction against the deal from a Seoul court.

2023-03-06 11:24

Former Lone Star official arrested in US

Former Lone Star official arrested in US

The former Seoul branch chief of Lone Star, who had led the U.S. equity fund's acquisition of a local bank, has been arrested in the United States, Korea's justice ministry said Sunday.

2023-03-06 09:06

Internet banks boost competitive edge with 'group accounts'

Internet banks boost competitive edge with 'group accounts'

To find a breakthrough in the market dominated by commercial banks, internet banks are trying to gain a competitive edge with a new type of account that can be owned communally by several members. Called a “group account,” it allows internet banks to not only secure a monthly cash inflow but also attract more customers, both young and old.

Lee Yeon-woo | 2023-03-06 08:25

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