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Reporter : Anna J. Park
Mon, December 6, 2021 | 17:59
Blackrock, GIC eyeing Krafton IPO
Major foreign institutional investors turned out to have joined a stock allotment subscription for the Korea-headquartered global game company Krafton's IPO set for Aug. 10.
Korea's National Tax Service pledges cooperation with Russia and Uzbekistan
In a move to strengthen concerted efforts for international coordination, Korea's National Tax Service (NTS) pledges to cooperate closely with Russia and Uzbekistan, particularly in preventing double taxation and in uncovering offshore tax evasion.
Paperless banking
MG Community Credit Cooperatives has started a pilot program running “paperless counters” where no paper is used and every document is processed digitally. The pilot program is being operated at two branches in Seoul, and is slated to be expanded to every branch nationwide. Courtesy of MG Community Credit Cooperatives
Youngest CEO to lead Hana Asset Management Asia
Hana Financial Group recently appointed Son Won-joon, former Managing Director at Brain Asset Management, as the first CEO to lead the group's newly-launched Hana Asset Management Asia, located in Singapore. With the appointment, the 43-year old will be the youngest CEO to serve at one of Hana Financial Group's subsidiary companies.
National Pension Service's No.1 net purchased stocks turn out to be SK hynix, Samsung Biologics
SK hynix and Samsung Biologics are two local stocks that the National Pension Service (NPS) net purchased the most last year. The NPS is the country's largest institutional investor with around 884 trillion won ($767 billion) in assets under management (AUM) as of the end of April this year.
SoftBank-backed Yanolja expected to go on corporate shopping spree overseas
Korea's largest travel application, Yanolja, is now expected to focus on expanding its overseas business through aggressive acquisitions after securing a whopping two trillion won ($1.7 billion) investment from SoftBank recently.
Korea Investment slammed for getting 'favor' in KakaoBank IPO
Ahead of the planned IPO of KakaoBank, Korea Investment & Securities is receiving criticism from its local peers, as the company has secured the underwriting of a significant proportion of the internet-only bank's stocks compared to co-underwriters.
IMM PE-GS Retail take over Pet Friends
IMM Private Equity (IMM PE) and GS Retail jointly acquired Pet Friends, the top local online pet product retailer, aiming to boost its value.
4th COVID-19 wave threatens Korean economy
Despite the growing vaccination rate in South Korea, the country's economic growth is widely expected to be dragged down by the rise in COVID-19 infections, said economists and analysts Tuesday.
Kakao Pay seeks to beef up brokerage unit through capital injection
Kakao Pay has injected a total of 18 billion won ($15.7 million) into Kakao Pay Securities, in a bid to support its brokerage unit's mobile trading system (MTS), slated for launch later this year. For the capital injection, Kakao Pay secured the brokerage unit's newly issued 1.22 million shares priced at 14,706 won per share.
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