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Reporter : Anna J. Park
Sat, June 3, 2023 | 06:42
Shinhan may undergo generational shift under incoming chairman
As incumbent Shinhan Bank CEO Jin Ok-dong was tapped early this month to take office as its next chairman in March, markets are focusing now on what changes he will bring to the group's management strategies. If Jin, who is currently the only nominee for the position, is officially approved as the next chairman at the group's shareholders meeting slated for March, he will beg...
KEPCO blocked from issuing more corporate bonds
The stock price of Korea Electric Power Corporation (KEPCO) soared during Friday's trading session, as investors expected an increase in domestic electricity fees after the National Assembly voted down a bill a day earlier aimed at expanding KEPCO's upper limit in corporate bond issuance. KEPCO shares ended at 21,000 won ($16.13) on Friday, up 8.53 percent from the previous t...
KIC acquires minority stake in Golub Capital
The Korea Investment Corporation (KIC) has strengthened its strategic partnership with U.S.-headquartered Golub Capital, in a move to bolster its alternative investment portfolio. The Korean sovereign wealth fund announced on Friday morning that it had acquired a passive and non-voting minority stake in Golub Capital's management companies.
Cryptocurrency market hit by delisting of Wemix
Wemix, the cryptocurrency developed by game company Wemade, ended up getting delisted from four major local coin exchanges as of 3 p.m. Thursday, as a local court rejected an injunction request filed by Wemade on Wednesday evening.
MBK Partners founder makes Forbes top philanthropists list for 2nd time
MBK Partners co-founder and CEO Michael Byungju Kim has made the list of Forbes top philanthropists in Asia for two consecutive years. Forbes announced earlier this week that a total of 15 business people have made the list of “Asia's 2022 Heroes of Philanthropy”, with nine being chosen for the first time.
Macquarie joins bid to acquire LOCA Mobility
Macquarie Asset Management was revealed to have been among the few potential buyers that participated in the main bid to acquire LOCA Mobility, a subsidiary of Lotte Card. LOCA Mobility operates various traffic solution services, including pre-paid cards, city bus management systems (BMS) and bus information systems (BIS).
Daol Investment put up for sale
Korea's first-generation venture capital firm Daol Investment, formerly known as KTB Network, has been put up in the M&A market, as its parent company aims to secure liquidity amid market uncertainties.
Korea Investment expected to take over KakaoBank stake
Korea Investment & Securities is expected to take over a significant stake in KakaoBank, currently held by its parent company as well as its affiliate. If that happens, the brokerage firm could become the country's top brokerage company with the most capital.
PEFs face dilemma as exits become difficult
Due to the soaring global interest rates and concerns over a recession, private equity firms (PEFs) are finding it hard to make successful exits from some of the projects they previously invested in within their portfolios. That's because unfavorable external factors, including curtailed asset prices, slashed corporate valuations, the bearish moves of stock markets and slowed...
FSS urges Shinhan Bank to bolster anti-money laundering system
The Financial Supervisory Service (FSS) has asked Shinhan Bank to improve its anti-money laundering (AML) management system, particularly in the areas of digital asset businesses and overseas branches.