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Finance

Fri, May 14, 2021 | 22:41

Shinhan Asset Management aims to become ESG powerhouse

Shinhan Asset Management vowed to place the utmost priority in keeping to its set of environmental, social and corporate governance (ESG) criteria, striving to be the country's top asset manager in terms of ESG-principled investments.

Anna J. Park | 2021-05-06 16:38

US rate hike worries boosting Korean bank stocks

Korean bank stocks went on an unusual bullish run Thursday on expectations their profit bottom lines will see a boost following recent warnings by the U.S. treasury secretary over possible rate hikes.

2021-05-06 16:37

Former state auditor to become standing auditor at LH

Korea Land and Housing Corp. (LH) said Thursday that its new standing auditor Yeom Ho-yeol was sworn in Monday.

2021-05-06 15:53

Korea ranks 9th in global entrepreneurship index 2020

South Korea been ranked ninth among 44 countries in the global entrepreneurship index 2020, rising six notches from a year earlier, the government said Thursday. Asia's fourth-largest economy won 5.49 points out of the full 10 in the Global Entrepreneurship Monitor's National Entrepreneurship Context Index, up from 5.13 in 2019, according to the Ministry of SMEs and Startups.

2021-05-06 15:04

Korea's debt risk premium at lowest since global financial crisis

The cost of insuring South Korea's sovereign debt against default fell to the lowest level this week since the 2008-09 global financial crisis as the country's economy is recovering faster from the pandemic, the finance ministry said Thursday. The spread on credit default swaps (CDSs) for South Korea's 5-year dollar-denominated currency stabilization bonds came in at 19 basis...

2021-05-06 14:32

Tax incentives eyed for chipmakers: finance minister

South Korea's chief economic policymaker said Thursday the government will consider expanding tax credit programs for chipmaking-related research and development (RD) and facility investment to nurture the non-memory chipmaking industry. Finance Minister Hong Nam-ki said the government is studying ways to increase tax benefits and policy support for the semiconductor industry...

2021-05-06 11:41

Korea's foreign reserves hit record high in April on weaker dollar

South Korea's foreign reserves rose to a fresh record high in April as the U.S. dollar's weakness boosted the value of non-dollar assets, central bank data showed Thursday. The nation's foreign reserves came to $452.3 billion as of end-April, up $6.18 billion from the previous month, according to the Bank of Korea (BOK).

2021-05-06 09:21

A Twosome Place IPO faces skepticism

A Twosome Place, a coffeehouse chain headquartered in Korea aiming to go public, sent out a request for proposal (RFP) for its initial public offering (IPO) recently to some securities firms. According to the investment banking industry earlier this week, A Twosome Place emailed the RFP to major securities firms in Korea at the end of last month.

Anna J. Park | 2021-05-05 16:52

MSCI asked to include Korea in developed market index

Morgan Stanley Capital International (MSCI) received an official request from Korean businesses to upgrade the domestic equity market to “developed” from “emerging” in its forthcoming market classification next month.

2021-05-05 16:37

Yellen's rate hike warning to dampen tech stocks

Stock markets are expected to experience a “technical correction” with investors focusing on “profit-taking” after U.S. Treasury Secretary Janet Yellen said rate hikes may be needed to stop the U.S. economy from overheating.

2021-05-05 16:03

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