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Finance

Markets

Wed, June 23, 2021 | 03:15

Massive Coupang blaze to hit Korean Re, DB Insurance

A fire at a Coupang logistics center here will increase the loss ratio for Korean Re and DB Insurance, two local insurers with the biggest liabilities to cover the damage from the industrial disaster. Last week, a fire engulfed the logistics center in Icheon, Gyeonggi Province, leaving one firefighter dead. Coupang is expected to make an insurance claim worth around 360 billi...

Lee Min-hyung | 2021-06-22 16:51

LG stays out of Hanon Systems takeover bid

LG Electronics has decided not to participate in a preliminary bid to acquire a controlling stake in Hanon Systems, citing its excessively high price, an LG official told The Korea Times, Tuesday.

Park Jae-hyuk | 2021-06-22 16:37

Korea Development Bank approaching 'top firm' for HMM stake sale

The Korea Development Bank (KDB) is approaching an unspecified conglomerate here for the sale of Hyundai Merchant Marine (HMM). The state-run lender is seeking to clinch a mega deal with a top-tier conglomerate to ensure the smooth privatization of the firm which plays a key role in the global shipbuilding industry.

Lee Min-hyung | 2021-06-21 16:29

IMM struggles to normalize Able C&C

Ever since IMM Private Equity Equity (PE) took over Able C&C - a cosmetic-based, Korea-headquartered company with various brands such as Missha and A'pieu - in April 2017, Able C&C's CEO has been the least stable position.

Anna J. Park | 2021-06-21 16:29

Sudden delisting of cryptocurrencies sparks legal battles

Upbit's abrupt decision to delist 24 types of cryptocurrencies has prompted a series of lawsuits. In addition to the ongoing legal battle with Pica Project, the issuer of Pica Art Money, the nation's largest cryptocurrency exchange operator is facing large-scale litigation from other virtual asset developers and several investors holding the digital coins that will be deliste...

Park Jae-hyuk | 2021-06-21 16:26

Young generation weighed down by heavy loans

People in their 20s and 30s are suffering from heavier debt, as seen by the rapid increase in their percentage of the country's total debt; they account for nearly 60 percent of newly-given loans.

Anna J. Park | 2021-06-20 17:26

[INTERVIEW] 'Elon Musk's tweets have limited impact on AI's stock picks'

Tesla founder and CEO Elon Musk's bizarre tweets have long been regarded as major risk factors among the electric vehicle manufacturer's shareholders worldwide, prompting some investors to sue him and the U.S. Securities and Exchange Commission to issue warnings.

Park Jae-hyuk | 2021-06-19 09:36

Woori's privatization momentum picks up steam on rising share price

Woori Financial Group's stock price is rising, reflecting investors' positive expectations over its favorable performance in the third quarter.

Anna J. Park | 2021-06-17 16:29

MSCI hints at keeping Korea classified as emerging market

American finance company MSCI is expected to refuse to place the Korean equity market on its watch list for potential reclassification as a developed market again this year, maintaining the country's emerging market status for a while.

Park Jae-hyuk | 2021-06-17 15:24

Sudden delisting of digital coins rattles investors

Major cryptocurrency exchanges in Korea have been focusing on delisting some of their digital coins following the government's recent announcement that the Financial Services Commission (FSC) will take charge of cryptocurrency-related policies and management. The move is seen as an attempt by the exchanges to distance themselves from risky virtual assets ahead of a mandatory ...

Anna J. Park | 2021-06-16 16:36

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