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Asia

The Korea Times

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Thu, February 2, 2023 | 07:13

Major global PEs compete again to acquire Medit

Major global PEs compete again to acquire Medit

The second round of competition for the acquisition of dental 3D scanner business Medit has begun, as the consortium of GS and Carlyle lost its preferred bidder position. According to the investment banking (IB) industry, Unison Capital, the largest shareholder of the world's third-largest dental 3D scanner company, and Citigroup Global Markets Korea Securities - the sales ma...

Anna J. Park | 2022-11-14 16:55

ICT exports down in Oct. amid global slowdown

ICT exports down in Oct. amid global slowdown

Korea's exports of information and communication technology (ICT) products declined 10.3 percent in October from a year earlier in the face of weak demand for tech goods amid a global economic slowdown, data showed Monday.

2022-11-14 11:44

Shinhan speeds up drive to extend leadership

Shinhan speeds up drive to extend leadership

Shinhan Financial Group is on track to initiate internal procedures to extend the leadership of Chairman Cho Yong-byoung, whose term ends in March 2023. Last week, the group set up a chairperson recommendation committee, and its seven board members have started discussion of the next candidates for the group's top management. Shinhan is expected to confirm the shortlist for t...

2022-11-13 16:08

Hana resumes voluntary service campaign after 3 years

Hana resumes voluntary service campaign after 3 years

Hana Financial Group has resumed an annual voluntary service campaign that has gotten bigger in terms of its scale and range of programs to reflect the firm's commitment to environmental, social and corporate governance (ESG)-oriented management better. The campaign traditionally starts on Nov. 11, in line with Hana Financial Group's aspiration to become the nation's No. 1 ba...

2022-11-11 15:49

Analysts paint rosy picture for Coupang shares

Analysts paint rosy picture for Coupang shares

Korea's e-commerce giant, Coupang, recorded its first-ever quarterly operating profit in the third quarter of this year, as the firm finally began see benefits from its past investments focusing on efficiently improving the firm's automated fulfillment infrastructure, logistics and machine-learning supply-chain optimization. According to the earnings report submitted to the U...

Anna J. Park | 2022-11-11 15:45

Woori Financial Group launches data intelligence unit

Woori Financial Group launches data intelligence unit

Woori Financial Group has launched a new department dedicated to strengthening capabilities in data and artificial intelligence, hoping the new department will contribute to the group's future growth and taking the lead in the data technology sector.

Anna J. Park | 2022-11-10 17:21

YJC CEO inducted into IBK Hall of Fame

YJC CEO inducted into IBK Hall of Fame

The Industrial Bank of Korea (IBK) inducted Bae Ji-soo, CEO of electronic component manufacturer YJC, into this year's IBK Hall of Fame for developing technology to produce components, which previously Korea had to rely on Japan for, in the form of imports, the bank announced on Thursday. Bae will join 38 other entrepreneurs who are part of the Hall of Fame.

2022-11-10 15:50

KakaoBank draws over 20 mil. users after opening in 2017

KakaoBank draws over 20 mil. users after opening in 2017

KakaoBank has drawn over 20 million users since its launch in July 2017, which is nearly 40 percent of the entire 51 million population of Korea. According to the internet-only bank Wednesday, the number of the digital bank's users has grown exponentially every year during the past five years. The bank's user number in December 2017, the first year when it was officially laun...

Anna J. Park | 2022-11-09 16:42

Banks face rising CDS premium

Banks face rising CDS premium

The credit default swap (CDS) premiums of commercial banks have soared over the past year due to their weakening credibility in the wake of recent financial scandals sparked by a debt default related to the Legoland Korea Resort in Gangwon Province. The CDS premium is used to measure credit risk. When the figure rises, it indicates a firm's increasing risk of bankruptcy.

2022-11-08 16:22

MetLife Korea launches new traditional whole life insurance

MetLife Korea launches new traditional whole life insurance

MetLife Korea, a leading player in the country's foreign exchange insurance market, has recently launched a new whole life insurance that can be switched to a dollar insurance if certain terms are met.

2022-11-08 15:27

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