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Reporter : Anna J. Park
Fri, December 8, 2023 | 11:51
Manyo Factory stocks soar on IPO debut
Cosmetics company, Manyo Factory, made a successful debut on the Kosdaq market, Thursday, with its stock price finishing at 41,600 won ($31.80), up by the 30 percent daily limit. According to the bourse operator, Korea Exchange (KRX), the opening price of Manyo Factory stocks was set at 32,000 won at the beginning of the day's trading session at 9 a.m., which is double the pr...
Dollar remittance, foreign exchange rules to be eased
The Korean government is set to increase the annual cap on foreign currency remittance that does not require additional documentation, up to $100,000 from July this year, from the current cap of $50,000.
FSS, banks draw up 'three-step defenses' to prevent suspicious foreign remittance
The Financial Supervisory Service (FSS), the state-run financial watchdog agency, and local banks have decided to prevent abnormal foreign remittances by strengthening internal control and procedural codes to heighten the monitoring of such transactions.
Korea's corporate bond market regains vigor
The Korean debt market is showing signs of a recovery with investor appetite for corporate bonds rising during the first half of this year. Bonds issued by top-rated companies and even by some businesses with lower credit ratings succeeded in attracting hundreds of billions of won in investments during the first half of this year.
Operating loss clouds Kakao Entertainment's IPO plan
Despite managing a superstar like IU, Kakao Entertainment suffered an operating loss last year for the first time in seven years, casting a shadow over its ambitious IPO plan. The unusual poor profitability of a major entertainment and content powerhouse hurts especially more, as its competitors, including HYBE and JYP Entertainment, are enjoying stock price rallies lately wi...
Retail investors bet on wrong horse despite KOSPI rally
Retail investors have failed to enjoy the boon of recent stock market rallies, as they turned out to have purchased trending stocks related to post-pandemic reopening and secondary batteries at their peak prices. According to bourse operator Korea Exchange (KRX) on Monday, the monthly average rate of return for the 10 most-purchased stocks by retail investors stood at minus 2...
Shinhan Card strengthens retail loan business in Kazakhstan
Shinhan Card aims to become a top-tier operator in retail loans in Kazakhstan by strengthening local partnerships as well as accelerating digitalization.
Concerns rise over Samsung SDS' growing intra-group transactions
Samsung SDS relied on intra-group transactions for more than 80 percent of last year's earnings, raising concerns over the firm's future growth prospects, according to industry officials Sunday. Data released by the Fair Trade Commission show the IT service unit of the Samsung conglomerate earned 4.2 trillion won ($3.2 billion) last year from transactions with other Samsung G...
Hamburger franchises having trouble in M&A market
It has been a while since a major burger franchise business in Korea was listed in the M&A market. Generally, their corporate value is not well received by the market, sometimes failing to find a new owner, despite best attempts to do so.
FSS to continue strengthening supervisory cooperation with overseas counterparts
The Financial Supervisory Service (FSS) vowed to continue fully supporting overseas business expansions by Korean financial companies, particularly in Southeast Asia, as the state-run financial watchdog agency will soon begin implementing an employee exchange partnership with its Indonesian counterpart during the second half of this year.