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Thu, October 19, 2017 | 09:01

Economy > Finance >

Citibank Celebrated 50th Anniversary in Korea

A half-century partner of the Korean economy since 1967 as one of the first foreign-based banks that entered into Korea 'Korea Corporate Citizenship Award’ to be launched the award funded with the donation of USD 50 per attending corporate client and a certain amount of special contribution

Finance | 2017-09-28 10:04

'Prudential CEO should step down'

Prudential Life Insurance Korea CEO Kurtis Jang is facing strong calls for his resignation, amid controversy over his mismanagement of agents, which cmae to light after an ex-agency manager’s death. Yang Man-seung, 58, a former agency manager of the insurance firm, jumped from the 21st floor of the company’s head office in Gangnam, Seoul, on Sept. 3 after the CEO failed to me...

Finance | 2017-09-24 16:04

Market poles apart over Celltrion's KOSPI relocation

As the day approaches for Celltrion to finally decide whether to relist on the KOSPI, the market is seemingly divided over the prospect of it. The KOSDAQ-listed biosimilar maker will be holding a shareholders meeting at the end of next week to vote for the KOSPI relocation or to remain on the tech-heavy exchange. It is highly expected to go to the KOSPI where it would be less...

Finance | 2017-09-24 10:14

Kumho Petrochemical owner's daughter increases stakes

Park Ju-hyung, vice president of Kumho Petrochemical’s purchasing and finance, has recently increased her stake in the listed resin materials company. Park recently purchased 1,000 shares at 77,400 won per share, bringing her ownership in the company to 0.77 percent. She is the daughter of Kumho Petrochemical Chairman and Chief Executive Park Chan-koo. The chairman is the you...

Finance | 2017-09-24 09:40

Suicide notes of Prudential agent

Notes and letters left by a former sales manager of Prudential Life Insurance Korea who died in an apparent suicide are throwing doubts on the insurer’s personnel management. Yang Man-seung, 58, a former agency manager of the insurance firm, jumped from 21st floor of the company’s head office in Gangnam, Seoul, on Sept. 3 after failing to meet the company’s CEO Kurtis Jang to complain about the termination of his contract with the firm. Yang had been claiming his termination the previous month was unfair and aimed at dismissing old employees like himself. According to Yang’s July 26 letter s...

Finance | 2017-09-21 15:25

Conglomerates, financial firms to face tougher investigations

The financial regulator will reset an oversight system enabling it to comprehensively monitor and supervise financial companies affiliated with local family-run conglomerates or chaebol, according to the Financial Services Commission (FSC), Tuesday. The FSC plans to draw up the integrated system for a public hearing by the end of this year, and run it next year. This means it...

Finance | 2017-09-20 15:23

SK Innovation backs social enterprise Morethan

SK Innovation, a listed energy development company, has been supporting a rising social enterprise company, Morethan, since it was established in 2015. The support is part of SK’s vision to improve the environment and become more socially responsible, the company said Tuesday. Morethan reuses materials from car junk yards to create fashion bags. The social startup reuses leat...

Finance | 2017-09-19 16:50

ABL Life enhances marketing for new name

ABL Life Insurance is enhancing marketing strategies to promote its new name and company vision of “A Better Life” for clients. The insurance firm changed its name from Allianz Life Korea to ABL Life Aug. 1 after China’s Anbang Insurance Group purchased the former Allianz unit in Korea. Last month, the company launched TV commercials in which actor Ji Sung promotes the compan...

Finance | 2017-09-18 17:46

'Prudential Korea not prudent in managing agents'

Prudential Life Insurance Korea is being slammed for poor management of its agents, which purportedly was a factor in the death of one of its former branch heads. According to police and acquaintances of the former manager, Yang Man-seung, 57, committed suicide at the company’s headquarters in Seoul, on Sept. 5. Yang committed suicide after failing to meet the firm’s CEO Kurt...

Finance | 2017-09-18 17:37

Hallyu surplus dips on China's THAAD retaliation

South Korea’s surplus coming from exports of services related to “hallyu,” or the Korean wave, fell steeply on China’s economic retaliation over the installment of a U.S. missile defense system here. According to the Bank of Korea, Monday, the country’s trade account related with audio and video services marked a $179.9 million surplus in the first half of the year, down 23.2 percent from the second half of 2016. It is also the lowest figure since the latter half of 2015 when the country saw a $133.2 million surplus.

Finance | 2017-09-18 16:33

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Lunch with Navy sailors