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: Anna J. Park
Thu, December 8, 2022 | 09:01
Top 5 financial groups to supply $67 bil. to stabilize market
Five major financial groups here have decided to provide ample liquidity worth 95 trillion won ($67 billion) by the end of this year in a bid to ease a bond market crunch and stabilize local financial markets. During a meeting with Financial Services Commission (FSC) Chairman Kim Joo-hyun on Tuesday morning, the chairmen of the five groups pledged to inject a total of 73 tril...
| 2022-11-01 16:22
K bank to delay IPO to early next year
K bank has decided to delay its initial public offering to early next year, amidst worsening investor sentiment and growing market concerns. According to the financial industry Monday, the country's first internet-only bank has recently notified its financial investors that it would change its target timeline for the IPO to January. Since passing the preliminary examination f...
| 2022-10-31 16:43
Woori Financial Group has least exposure to real-estate project financing
Major financial groups maintain a relatively stable risk exposure to real estate project financing, while regional financial groups tend to have a larger exposure compared to their loan provision sizes, data showed.
| 2022-10-31 16:09
Credit Suisse's Korea operation aims to maintain key status amid restructuring plan
Credit Suisse announced a series of radical restructuring measures to revamp its global banking business on Thursday, after taking three months of thoroughly reviewing and reassessing its strategic future directions. The measures came as the Switzerland-headquartered bank posted its fourth straight quarterly loss for the third quarter of this year. According to its earnings a...
| 2022-10-28 16:56
FSC chief to meet financial group leaders Tuesday to discuss market stabilization
Financial Services Commission (FSC) Chairman Kim Joo-hyun is scheduled to meet the leaders of the country's five major financial groups next week, aiming to discuss effective stabilization measures amidst increased uncertainties surrounding the local corporate and commercial paper markets.
| 2022-10-28 16:15
KEPCO bonds aggravate fears of corporate credit crunch
A massive volume of bonds issued by the Korea Electric Power Corporation (KEPCO) throughout this year has been jolting local corporate bonds market, becoming a source of stress on already strained corporate bonds and commercial paper (CP) markets in the country. According to data by the Korea Securities Depository (KSD) Thursday, KEPCO has so far issued bonds worth 23.49 tril...
| 2022-10-27 16:56
Banks to supply liquidity while minimizing bond issuance
Financial authorities and local banks have agreed to provide liquidity to the country's short-term funding market, aiming to help stabilize the local corporate bond and commercial paper (CP) markets. The short-term funding markets recently witnessed a mounting credit crunch following the default of 205 billion won ($143 million) in asset-backed commercial paper (ABCP) issued ...
| 2022-10-26 16:46
Corporations fall behind in ESG communication: EY Korea
While environmental, social and governmental (ESG) principles are expected to continue to wield increased influence in consumer decisions, corporations surveyed recently, showed that they were lacking when it came to their communication efforts about ESG activities. This finding was discovered by EY Korea's survey of 115 participants of the “ESG Best Practice” forum, which wa...
| 2022-10-26 16:46
Korea's export growth rate to fall to zero-percent range in 2023: IMF
A senior official at the International Monetary Fund (IMF) said despite Korea's solid economic fundamentals, the country's export growth rate is expected to fall to the zero-percent range in 2023, from around the three-percent level this year, due to economic slowdowns in major countries and a decrease in global demand.
| 2022-10-25 16:36
Mirae Asset joins Musk's Twitter acquisition deal
Mirae Asset Global Investments will invest 300 billion won ($209 million) in Elon Musk's $44 billion Twitter acquisition deal. According to local investment banking industry sources, Tuesday, the asset management arm of Mirae Asset Financial Group has set up a fund worth 300 billion won as part of its plans to participate in Musk's Twitter buyout. Mirae Asset Securities is in...
| 2022-10-25 16:18
American father's battle to find missing children in Korea
Lifting of indoor mask mandate gains momentum
Fingers crossed for unification of two Koreas
First batch of K2, K9 arrives in Poland
Founder of Korea's first e-commerce platform creates AI-based travel app
Naturalized Korean among invitees to presidential dinner
[INTERVIEW] 'If youth get excited about unification, things will happen very quickly'
Jeep introduces all-new Grand Cherokee in Korea
S&P economist forecasts 1.4% growth for Korea in 2023
[PHOTOS] Taegeuk Warriors get heroes' welcome
[PHOTOS] World Cup 2022 Korea vs Brazil
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