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Reporter : Anna J. Park
Tue, May 30, 2023 | 20:23
Korea awaits decision on FTSE gov't bond index inclusion next month
The domestic bond market is anticipating the potential influx of a massive amount of foreign capital, as the global index provider FTSE Russell is slated to announce whether Korea will be included in the FTSE World Government Bond Index (WGBI) in a semi-annual report due in March.
Consumer price index expected to hover at 5% range in Q1
As rising public transportation fees add upward pressure on the general public, consumer prices in Korea are expected to remain at the current range. Some expect inflation in the upper five-percent rate to continue until the start of the second quarter of this year. The finance ministry and Statistics Korea both expect February's Consumer Price Index (CPI) to post a year-on-y...
KCGI to sell Osstem stake to Unison-MBK consortium
The Korea Corporate Governance Improvement (KCGI) has decided to sell its 6.92 percent stake in Osstem Implant during a tender offer launched late last month by a consortium made up of Unison Capital Korea and MBK Partners, according to the activist fund. The tender offer is scheduled to last through Feb. 24.
Risks of real estate project financing loom large on economy
Risks stemming from real estate project financing (PF) is looming large as one of key threat factors in the local financial sector this year. Securities companies particularly experience a high default rate of their loans to real estate PF, concerning market watchers that a negative chain reaction could result in a crisis for the market.
BNK Financial's incoming chief expected to bring in stabilization
After BNK Financial Group nominated Bin Dae-in last month as its next chairman to lead the group for the next three years, market watchers have been fixated on whether the new incoming leader will be able to complete his term honorably, while also succeeding at stabilizing the financial group's structure.
Hana Financial Group donates $300,000 to quake-devastated Turkey, Syria
Hana Financial Group has donated $300,000 as urgent aid for the recovery and support of those affected by the earthquake in Turkey and Syria. The group announced Wednesday that it delivered the relief money earlier this week through the Community Chest of Korea as well as other global relief agencies.
Key real estate owned by McDonald's Korea excluded from sale
McDonald's Korea is up for sale, but some key pieces of real estate owned by the global fast-food chain in the country have been excluded from the deal.
Dongwon aims to to acquire McDonald's Korea
Dongwon Industries aims to acquire McDonald's Korea, a move seen as the group's attempt to strengthen its franchise food business. The holding company for a variety of Dongwon Group affiliates, including marine, logistics, finance, food and living businesses, is hopeful that it can create synergy through the acquisition.
Financial authority to strengthen direct communication with bank boards
In a move to improve financial groups' corporate governance and ethical management, the financial authority plans to strengthen direct communications with the boards of directors of major financial groups and local banks.
FSC OKs Apple Pay to be available in Korea
Apple Pay is expected to be launched in Korea soon, as the financial authorities have finally given the green light to its mobile payment service to be made available in the country. The Financial Services Commission (FSC), the country's top financial regulator, announced Friday it has finished reviewing related local laws, concluding that local credit card companies can offi...