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Finance

Fri, July 30, 2021 | 16:35

Delta variant saps business sentiment in Korea

Rising numbers of COVID-19 cases and the continued spread of the Delta variant rattled business sentiment in July, with the country's business survey index (BSI), which measures how companies view surrounding conditions, turning red for the first time since February.

Kim Yoo-chul | 2021-07-30 16:27

Top 4 Korean banks receive favorable reviews from Fitch

Fitch Ratings revised its outlooks on the long-term issuer default ratings (IDRs) of Shinhan and KB Kookmin banks to “stable” from “negative,” while upgrading the long-term IDRs of Hana and Woori banks to “A” from “A-,” after all of the holding companies of the lenders announced record-high half-yearly earnings this month.

Park Jae-hyuk | 2021-07-30 16:20

CPPIB, Blackstone, EQT betting more on Korea

A series of lucrative investment opportunities have made it possible for the Korean market to emerge as one of the most attractive destinations for global private equity investors, prompting them to look for more Korean experts to manage their assets, according to industry representatives, Friday.

Park Jae-hyuk | 2021-07-30 16:06

Fed's dovish stance gives BOK room to maneuver

The Bank of Korea (BOK) will have room to maneuver in terms of adjusting its monetary policy, relieved by the Federal Reserve's decision to leave its key policy rate unchanged at 0 to 25 basis points with asset purchase programs intact.

Lee Kyung-min | 2021-07-29 16:47

Daishin Securities urged to compensate 80 percent of Lime's mis-selling

The dispute settlement committee of the Financial Supervisory Service (FSS) ruled that Daishin Securities should compensate 80 percent of losses incurred by consumers from the brokerage's mis-selling of Lime funds. It is the highest percentage of compensation ever advised by the financial authority involving the soured fund.

Anna J. Park | 2021-07-29 16:31

Market slowdown paves way for Woori, JB to buy securities firms

Woori and JB financial groups seem to have become unexpected beneficiaries of the recent slowdown of the domestic stock market, because the situation can deteriorate the profitability of securities firms here, eventually prompting some of them to be put up for sale.

Park Jae-hyuk | 2021-07-29 16:25

Moody's upgrades ratings outlook on Jeonbuk, Gwangju banks

Moody's Investors Service has left unchanged its A3 credit ratings on JB Financial Group's two banking affiliates - Jeonbuk Bank and Gwangju Bank - and revised up its outlook for the banks to “positive” from “stable.”

Kim Yoo-chul | 2021-07-29 15:28

Man behind Korean rugby team, judoka from Japan

OK Financial Group Chairman Choi Yoon has drawn attention in the 2020 Tokyo Summer Olympics for his support of Korea's rugby players - who made their Olympic debut at the games - as well as of bronze medalist judoka An Chang-rim, who was born in Japan as a third-generation ethnic Korean just like him.

Park Jae-hyuk | 2021-07-29 14:31

KakaoBank's IPO craze contradicts shaky corporate valuation

For the first-time ever, a local securities company issued a “sell” recommendation for shares being newly offered through an initial public offering. Despite generating a huge buzz among investors, KakaoBank set the humiliating record, becoming the country's first IPO stock to receive the unprecedented “sell” opinion due to its offering price being overpriced, according to th...

Anna J. Park | 2021-07-29 08:21

Gov't desperate to cool overheating real estate market

The government said Wednesday that steep increase in housing prices over the past few years will experience a deeper-than-expected drop, seeking to deter continued purchase of houses in Seoul and Gyeonggi area. Yet little desired outcome is expected from the real estate market, since investors have learned that attempts to control what should be determined by supply-and-deman...

Lee Kyung-min | 2021-07-28 16:58

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