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Fri, February 23, 2024 | 22:40
Ex-Hanaro leader joins Vogo fund for Woori bid
Park Byung-moo, the former CEO of Hanaroteleco, returned to the private equity industry as a partner of Vogo Fund, an indigenous firm. His joining as a partner will be a boost for Vogo’s ambitious expansion plan, as the fund just submitted a bid to buy Woori Financial Group, the second largest banking group in Korea, and plans to buy a few more companies soon.
China-skepticism spreads by leaps and bounds
Koreans are feeling uncomfortable with China’s double standard on the Korean Peninsula and signs of its growing unilateralism.
Japanese lenders reap profits
Profits of private money lenders from Japan are reaching record highs despite a 5-percent interest rate cut earlier this year.
Wikileaks shows Obama, Lee in same boat for FTA, G20
Leaked diplomatic cables on Wikileaks showed that the governments of South Korean and the United States have been working in tandem in pushing ahead the free-trade agreement.
Lottery winners to get monthly payments
The government will introduce a lottery that pays the winner 5 million won every month for 20 years, instead of a lump sum payment, next year.
Economic growth cooling off fast
Industrial Production Index decreased by 4.2 percent in October, the largest drop in 22 months.
Fears over ‘black swan’ moment emerge in Korean financial market
An ominous indifference is spreading in the financial market toward the military conflict with North Korea.
Deutsche Bank faces probe over KOSPI shock
Deutsch Bank’s German headquarters is being targeted as Korea’s financial regulators have asked for help from the German authorities in tracking down accounts used to bombard the KOSPI stock market earlier this month.
Concerns over black swan moment rising amid mounting tensions
An ominous indifference is spreading in the financial market toward the military conflict with North Korea.
Cap-and-trade market shows loopholes to plug
On a website for commuters by bicycle, one recently wrote a provoking post. “The central and local government should purchase carbon allowances from us, the bike commuters!” He added, “The government needs to offer monetary incentives to people who travel by bike, just like they are subsidizing public transportation and even taxis.”