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Finance

Markets

Sun, June 7, 2020 | 16:20

Legal hurdles block Korean insurers from expanding overseas

Legal hurdles block Korean insurers from expanding overseas

All eyes are on whether the National Assembly will pass a bill to raise the upper limit on insurers' overseas investment volume, as the growth of the domestic insurance industry is slowing down due to persistent low interest rates in Korea. According to local insurance law, insurers' foreign investment volume should not exceed 30 percent of their total operating assets. But t...

Lee Min-hyung | 2020-04-27 09:40

Corporate credit downgrades looming due to pandemic

Corporate credit downgrades looming due to pandemic

An increasing number of companies are likely to have their credit downgraded due to the COVID-19 pandemic, fueling concerns that many otherwise robust firms hit by rapid, virus-triggered corporate deterioration will find it difficult to find buyers for their corporate bonds.

Lee Kyung-min | 2020-04-24 16:46

[INTERVIEW] YouTuber behind buzzword 'Donghak Ants'

[INTERVIEW] YouTuber behind buzzword 'Donghak Ants'

The “Donghak Ants Movement” is perhaps the buzz-phrase that has hit the local stock market news headlines most frequently over the past month.

Park Jae-hyuk | 2020-04-24 08:52

Financial authorities issue warnings against leveraged WTI futures ETNs

Financial authorities issue warnings against leveraged WTI futures ETNs

With global oil prices showing volatility, the nation's financial authorities sent warnings to retail investors about some exchange-traded notes (ETNs) and exchange-traded funds (ETFs) that track U.S. benchmark oil prices.

Anna J. Park | 2020-04-23 17:41

'Untact'-themed stocks expected to soar higher

'Untact'-themed stocks expected to soar higher

One of the biggest sectors that have been enjoying benefits from the current global pandemic crisis is undoubtedly non-contact industries; such as telecommuting, online education, and e-commerce. In Korea these industries are largely referred to as “untact” - a Konglish term widely used in the Korean media nowadays - or contactless, and stocks related to such sectors have bee...

Anna J. Park | 2020-04-22 17:31

Oil prices unlikely to bounce back soon

Oil prices unlikely to bounce back soon

Oil prices are not likely to pick up anytime soon due to a lack of substantial production cuts to curb the market oversupply amid the continued power struggle between major oil producers, industry watchers said Tuesday. Experts said that petrochemical businesses will see a modest turnaround thanks to a reduced unit cost, but the improvement in the sector will be limited as it...

Lee Kyung-min | 2020-04-21 17:44

Kiwoom unprepared for 'negative' oil prices

State-run lenders expand financial aid to Doosan, Asiana

State-run lenders expand financial aid to Doosan, Asiana

The nation's state-run lenders are taking additional steps for cash-strapped Doosan and Asiana Airlines to ease their mounting financial burdens in the aftermath of the global pandemic shock.On Tuesday, the Export-Import Bank of Korea (Eximbank) decided to convert a foreign currency bond, worth $500 million, issued by Doosan Heavy Industries & Construction, into a loan whose ...

Lee Min-hyung | 2020-04-21 17:09

[INTERVIEW] 'Adopting 'openness' crucial for digital transformation'

[INTERVIEW] 'Adopting 'openness' crucial for digital transformation'

The time is ripe for the Korean insurance industry to adopt a culture of “technological openness” for a global leap forward and a speedy digital transformation, as a lack of this very culture blocks foreign players from enhancing information exchanges with companies here, Swiss Re Group Chief Technology Officer (CTO) Kim Young-ran said in an interview.

Lee Min-hyung | 2020-04-21 16:51

Korea's stock market likely to remain volatile

Korea's stock market likely to remain volatile

The local stock market will remain vulnerable to virus-induced economic uncertainties despite its recent rally, experts said Monday. They said the benchmark stock index would not suffer from a surprise big drop like a month ago, but volatility will remain in place due to lingering fears over the global pandemic.

Lee Min-hyung | 2020-04-21 16:40

Oil price dip below zero for first time in history amid pandemic

Oil price dip below zero for first time in history amid pandemic

U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil. Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available worldwide. While U.S. oil ...

2020-04-21 09:07

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