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Reporter : Anna J. Park
Sun, July 3, 2022 | 03:11
Korea to overhaul visa system to attract more highly-skilled foreigners
The government has decided to fix its visa policy for foreign nationals in a bid to attract more highly-skilled professionals from abroad - a move aimed at tackling the population decline and reinvigorating the nation's growth potential. This move is part of the Yoon Suk-yeol administration's economic policy directions unveiled by the Ministry of Economy and Finance, Thursday...
Hybe stock plunges after BTS announces hiatus
The stock price of Hybe, the company that manages BTS, plummeted more than 24 percent on Wednesday, after the K-pop juggernaut announced Tuesday night that it will take a break as its members pursue solo activities.
Public officials' pension to apply ESG values to all local investments
The Government Employees Pension Service (GEPS), a public institution offering retirement pensions for public official retirees and accident compensation benefits for active government employees, announced that it will apply ESG principles to its entire Korean stock investment portfolio from July. According to the GEPS, the application of the environmental, social and corpora...
Authorities step up vigilance over financial markets
Responding to increased global macroeconomic uncertainties, financial authorities on Tuesday reaffirmed their strong determination to closely monitor the markets and take preemptive steps, if necessary, to deal with volatility. During a market monitoring meeting hosted by the Financial Services Commission (FSC) on Tuesday morning, the top financial regulator and other key fin...
Kospi dips to 19-month low on inflation fears
Korean stocks took a heavy beating Monday, with the benchmark Korea Composite Stock Price Index (Kospi) falling to the lowest level in 19 months on the back of a foreign selling spree amid growing fears over stagflation here and abroad. The Kospi closed at 2,504.51, down 3.52 percent or 91.36 points from Friday's close. It was the lowest level since it ended at 2,493.97 on No...
KB Insurance issues ESG bond to strengthen capital soundness
Aiming to strengthen capital soundness and ESG-principled management, KB Insurance issued sustainability bonds worth 286 billion won ($222 million). The insurer announced Monday that the sustainability notes are 10-year maturity bonds and 5-year maturity callable bonds, meaning a type of bond that provides the issuer of the bond with the right to redeem the bond before its ma...
Samsung Electronics' stock price hits 52-week low
Samsung Electronics' stock price renewed its 52-week record low on Friday, finishing at 63,800 won ($50.30), a 2.15 percent fall from the previous session. Friday's fall is attributed to weakened investor sentiment in the global semiconductor sector, as shown in the 2.69 percent overnight fall of the PHLX Semiconductor Sector Index in the U.S. market. The growing concern over...
Korea may ease rules to allow banks to invest more in non-financial firms
Since Financial Services Commission (FSC) Chairman nominee Kim Joo-hyun has said it's time to reexamine the country's long-held separation of industrial and financial capital, the local banking industry is expecting a favorable policy direction from the new leader of the top regulator.
Kakao Pay becomes available in Singapore
With its global partnership with Alipay+, Kakao Pay became available at offline stores and for services in Singapore earlier this month. Alipay+ is Ant Group's global cross-border payment and marketing service that connects offline merchants with mobile payment app users. “Kakao Pay joins hands with Alipay+, aiming to provide convenient payment experiences for users on their ...
Hahn & Co. buys SK Group's PET film business for $1.3 billion
Hahn & Co., the second-largest private equity firm in Korea, announced Thursday that it has signed a definitive agreement, or a stock purchase agreement (SPA), to acquire a 100-percent stake in SKC's polyester (PET) film business for 1.6 trillion won ($1.3 billion). The acquisition is expected to be completed by the end of the year, as SKC plans to hold a special shareholders...
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