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Fri, September 30, 2022 | 21:24
Hanjin Shipping files for creditor-led restructuring
Hanjin Group Chairman Cho Yang-ho gave up his management control of the group’s shipping unit on Friday, leaving the heavily indebted shipper in the hands of creditors, bank officials said.
BOK unionists oppose parachuted directors
Bank of Korea (BOK) unionists rallied Thursday against four new Monetary Policy Board (MPB) directors at the central bank, recommended by the government and other agencies, calling them “parachute appointments” coming from outside the bank.
Shinhan's net profit rises 30% in Q1
Shinhan Financial Group said Thursday that its net profit rose 30.3 percent to 771.4 billion won in the first quarter from a year ago thanks to an increasing interest margin and low provisions for loan losses.
Deregulation, restructuring key to revitalizing stagnant economy
Former Finance Minister Yoon Jeung-hyun said Wednesday that the government should carry out corporate restructuring and deregulation more aggressively to pull the economy out of its protracted slump.
Mirae Asset Daewoo sells dividend premium fund
Mirae Asset Daewoo Securities said Wednesday that it has started to sell a dividend premium fund which invests 70 percent of its portfolio in dividend stocks and preferred stocks, seeking to gain stable returns.
BOK cuts outlook to 2.8% from 3 percent
The Bank of Korea (BOK) cut its growth outlook to 2.8 percent from 3 percent forecast three months earlier, Tuesday, pointing to a poorer-than-expected corporate performance in the first quarter and slowdown in the global economy. The cut indicates that the country is entering a long tunnel of low growth, with anything over 3 percent becoming an increasingly remote possibilit...
Mirae Asset Daewoo to downsize ELS business
Mirae Asset Daewoo Securities plans to downsize its equity-linked securities (ELS) business and cut jobs in that department. This move is drawing protests from the labor union at an early stage of the merger process with the group’s other brokerage arm, sources familiar with the matter said Monday.
Three secrets hidden in banknotes to prevent copycats
BUYEO, South Chungcheong Province - If you look at the left side of the 10,000 won banknote under the light, you may see a portrait of King Sejong and the number 10,000 hidden in the space. They are sealed in the paper even before the note is printed to prevent it from being copied.
Gov't targets shipping firms for restructuring
Finance Minister Yoo Il-ho said Sunday he will accelerate corporate restructuring in shipping companies, by calling on them to implement measures for rapid recovery from downturns.
Korea's trade dependence hits 8-year low
Korea’s dependence on trade fell to an eight-year low last year, as the nation’s exports and imports dropped sharply amid the global economic slowdown, according to the central bank Sunday.