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Reporter : Anna J. Park
Tue, December 6, 2022 | 02:31
Shinhan chooses 3 candidates for next chairman
Shinhan Financial Group said Tuesday that it has confirmed three potential candidates for its next chairman. The candidates are current Shinhan Financial Group Chairman Cho Yong-byoung, Shinhan Bank CEO Jin Ok-dong and Shinhan Card CEO Lim Young-jin.
Foreign investors' registration obligation to be abolished
Korea's financial authorities plan to remove a decades-long obligation imposed on foreign investors to register their identities prior to investing in Korean stocks. The move is part of the Korean government's efforts to ease financial regulations on global investors, as the registration requirement for foreign investors has been pinpointed as one of the key stumbling blocks ...
Foreign PEs covet Mom's Touch
Various global private equity firms have joined the bidding war to acquire Mom's Touch, a Korea-headquartered chicken burger chain, due in part to their favorable positions created by the strong U.S. dollar. New potential buyers could emerge any time, as the sales process is currently being conducted on a rolling basis, meaning applications for acquisitions will be reviewed a...
Korea's first digital asset bill expected to be passed as early as Dec.
The parliament is set to deliberate on a bill that stipulates cryptocurrency exchanges' obligations for investor protection as early as later this month, as rival parties share a common understanding about a need to legalize the country's growing digital asset markets.
Financial authorities examine Wemix delisting
Amid growing controversies, financial authorities have decided to closely look into the case of a scheduled delisting of Wemix, a key cryptocurrency project by game company Wemade, to see whether the coin exchanges' listing and delisting criteria need to be more transparent or improved.
Wemade stocks plunge to daily bottom on delisting of Wemix coin
It's been a real Black Friday for the stocks of gaming giant Wemade. With its Wemix cryptocurrency to be delisted from major coin exchanges, the stock prices of Wemade and its two subsidiaries, Wemade Max and Wemade Play, all listed on the tech-heavy Kosdaq market, plunged to rock bottom during Friday's session. The stock price of Wemade finished at 39,400 won ($29.73), a 29....
Mid-sized brokerage firms undergo restructuring to secure liquidity
Daol Investment & Securities is receiving applications from its full-time employees for voluntary retirement until next Monday. It is the first time in nearly 10 years that the brokerage firm has conducted a voluntary resignation program since 2013. Those who with over five years of experience will be granted about 13 to 18 months' worth of salary, once their resignations com...
Digital capabilities to determine competitive edge for local banks: Deloitte report
Korea's banking sector has been quickly innovating with expanded roles taken by digital banking since the COVID-19 outbreak. This deepened reliance on digital banking is not confined to Korea. “Digital maturity,” or an organization's ability to respond and adapt to technological trends, has been surveyed to have risen across the entire banking sector globally over the past tw...
Why does Suhyup look to DGB as role model?
Suhyup, or the National Federation of Fisheries Cooperatives, which announced plans to establish a financial holding company next year comprised of a variety of financial subsidiaries, is aiming to follow in the footsteps of DGB Financial Group.
Mid-tier brokerages seek to increase liquidity
Amid the soaring global interest rates and faltering stock market actions, small and mid-sized local brokerage companies are focusing on increasing liquidity in preparation for market uncertainties stemming from macroeconomic changes.
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