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Sat, June 6, 2020 | 17:51

Mirae Asset sues Anbang

Mirae Asset sues Anbang

Mirae Asset said Monday it will file a counterclaim against China's Anbang Insurance Group which sued the Korean company in Delaware, April 27, for the buyer's refusal to complete payment of $5.8 billion for its purchase of 15 luxury hotels in the United States.

2020-05-11 18:31

Car industry bears biggest brunt of COVID-19 pandemic

Car industry bears biggest brunt of COVID-19 pandemic

Vehicles were among the export sectors hit hardest by the coronavirus pandemic for the first 10 days in May, data from the Korea Customs Service showed Monday. According to the customs authority, the nation's vehicle exports dropped 80.4 percent from May 1 to 10, compared with the same period last year, as economic shocks from the global spread of COVID-19 continue to remain ...

2020-05-11 15:58

AI taking center stage in insurance industry

AI taking center stage in insurance industry

Artificial intelligence (AI) is ushering in a paradigm shift in the conservative insurance industry, as more market players introduce new sets of time-saving AI-powered platforms to enhance business efficiency. It has been years since AI became the talk of almost all industries due to its usefulness in a wide range of applications and human-like versatility.

2020-05-10 18:32

Financial gurus' stock investments in times of COVID-19

Financial gurus' stock investments in times of COVID-19

Amid an unprecedented level of coronavirus-led global economic recession and uncertainty, the world's best and most legendary financial gurus are faced with divergent investment results. Some have raked in massive returns, while others are experiencing record losses.

Anna J. Park | 2020-05-08 17:53

Financial firms rushing to compensate for losses from PEFs

Financial firms rushing to compensate for losses from PEFs

Financial companies here are in a rush to compensate investors for losses from high-risk, high-return overseas private equity funds (PEFs) in a bid to ease rising customer complaints. It is causing controversy as some banks and investment firms are taking the action even before the funds' expiration dates arrive. The move was taken amid growing concerns that some of the PEFs ...

2020-05-08 17:05

Naver, Kakao stocks hit record high on rise of contactless consumption

Naver, Kakao stocks hit record high on rise of contactless consumption

Stock prices of the nation's top internet and mobile platform providers are at record highs on the increase in contactless consumption due to the coronavirus pandemic. The share price of Naver, a dominant internet portal here, has been rising steeply for the past few weeks after the global pandemic shock paralyzed offline sales. Consumers shifted their attention to mobile and...

2020-05-07 16:37

Koreans favor shorter, healthy life than longer, unhealthy one: MetLife survey

Koreans favor shorter, healthy life than longer, unhealthy one: MetLife survey

Despite rising life expectancies, Korean people would prefer to live a shorter and healthy life rather than a longer life with a serious illness, a survey by MetLife Korea showed Wednesday. Under the theme of the “perception towards a healthy life,” the life insurer carried out the survey on 1,000 adults aged between 20 and 59 here.

2020-05-06 16:50

'Jeonse ratio' hits 6-year low on rapid apartment price hike

'Jeonse ratio' hits 6-year low on rapid apartment price hike

The “jeonse ratio,” the ratio of housing deposit compared to the market value of apartments, dropped to the lowest in six years in Seoul and the surrounding Gyeonggi Province region, continuing the downtrend of the past 16 months on the back of a rapid increase in apartment prices over the past few years, data showed Tuesday.

2020-05-05 18:47

PEFs still stigmatized as greedy vultures

PEFs still stigmatized as greedy vultures

Domestic private equity firms (PEFs) are still suffering from the prejudice that they are “greedy vultures,” although it has been 15 years since Korea allowed their operation and they have become key players in the local M&A market.

2020-05-05 17:00

Will KKR hit jackpot with TMON's listing?

Will KKR hit jackpot with TMON's listing?

Kohlberg Kravis Roberts (KKR) is drawing keen attention from market observers, who wonder whether the global private equity firm (PEF) will be able to hit another jackpot here with TMON which aims to be listed on the tech-heavy Kosdaq market next year.

2020-05-05 17:00

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