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Asia

The Korea Times

Finance

Companies

Sun, June 4, 2023 | 00:19

FSS calls on KakaoBank to improve emergency response measures

FSS calls on KakaoBank to improve emergency response measures

The Financial Supervisory Service (FSS) has urged KakaoBank to revamp its disaster contingency planning, issuing management precautions and pinpointing areas of improvement. According to the FSS on Monday, the digital bank's annual disaster drills, conducted once every year, are not effective enough to counter emergency scenarios.

Anna J. Park | 2023-04-10 15:39

Mirae Asset chief donates dividends from asset management arm

Mirae Asset chief donates dividends from asset management arm

Mirae Asset Financial Group Chairman Park Hyeon-joo on Monday donated all the dividends - 1.6 billion won ($1.21 million) worth - he received from the group's asset management arm, Mirae Asset Global Investments. Park has continued the donation campaign since 2010 when he pledged to put all his dividends received from the company toward the younger generations. The total dona...

Lee Min-hyung | 2023-04-10 15:28

Over half of key listed firms see financial health worsen in 2022

Over half of key listed firms see financial health worsen in 2022

More than half of major listed firms in Korea saw their financial soundness worsen in 2022 amid high global interest rates and inflation, data showed Monday.

2023-04-10 09:22

Financial firms on track to scout top executives from rival firms

Financial firms on track to scout top executives from rival firms

Financial firms here are scouting top executives from their competitors, in a move to add fresh energy to their corporate culture and embrace diversity in their hiring practices. KB Kookmin Bank recently appointed ex-NH Financial Group Chairman Son Byung-hwan as a new outside director. The lender has so far focused on hiring experts in the academic circle, but is now moving t...

Lee Min-hyung | 2023-04-07 16:52

Finance minister vows all-out support for chip industry

Finance minister vows all-out support for chip industry

Korea will spare no effort to support local chipmakers amid the industrywide slump, the finance minister said Friday, vowing to provide various incentives, such as tax cuts.

2023-04-07 10:30

Samsung Electronics Q1 profit likely drops 96% as demand plunges

Samsung Electronics Q1 profit likely drops 96% as demand plunges

Samsung Electronics on Friday said its first-quarter operating profit likely nose-dived nearly 96 percent from a year earlier due to a sharp drop in demand for chips and home appliances amid recession fears.

2023-04-07 09:42

HYBE shares soar after Jimin of BTS tops Billboard chart

HYBE shares soar after Jimin of BTS tops Billboard chart

Shares of HYBE, the agency of K-pop superstar BTS, is on a robust rally after its member, Jimin, topped the Billboard Hot 100 chart with his new single. The stock price of Korea's most valuable entertainment company extended a surprising winning streak for three consecutive trading days until Thursday. According to data from the Korea Exchange, HYBE shares jumped 11.43 percen...

Lee Min-hyung | 2023-04-06 16:29

Daishin heir on course for third-generation succession

Daishin heir on course for third-generation succession

Daishin Financial Group heir Yang Hong-seok is on course for the third-generation succession of the mid-sized financial services company. The group said Vice Chairman Yang, 42, has been named to chair the board of directors at its flagship affiliate Daishin Securities.

Yi Whan-woo | 2023-04-06 08:27

KEPCO's future dims due to delays in electricity rate hike

KEPCO's future dims due to delays in electricity rate hike

Korea Electronic Power Corporation (KEPCO) is facing a bleak future in its desperate efforts to recover from its financial crisis as a plan to raise electricity fees in the second quarter was held off. With mounting losses again projected for this year, the company may have to issue more corporate bonds, possibly negatively affecting the debt market.

Lee Yeon-woo | 2023-04-05 08:32

MBK Partners' founder projects continued strong growth in Northeast Asia

MBK Partners' founder projects continued strong growth in Northeast Asia

Michael ByungJu Kim, the founder and chairman of MBK Partners, one of the largest private equity firms in Asia, stressed that he believes in the continued strong development of Northeast Asia's private equity markets. He also stressed the importance of taking a patient, long-term view to witness further growth in the region.

Anna J. Park | 2023-04-04 17:05

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