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Sat, January 28, 2023 | 22:49
[INTERVIEW] NongHyup seeks more deals in Southeast Asia
NongHyup Financial Group is looking to either acquire a firm or set up a joint venture to launch investment banking operations in Indonesia next year, said Hong Jae-eun, the chief strategy officer (CSO) of the agriculture financial holding company. He said the group is currently in talks with two potential companies in Indonesia, and it is seeking to acquire or establish a jo...
Economy losing steam on falling investment
The Korean economy is showing clear signs of a further slowdown as companies continue to reduce investment amid low consumer confidence beset possibly by state policy misguidance. According to Statistics Korea, Tuesday, the country's facility investment dropped 1.4 percent in August from the previous month. It decreased 0.3 percent in July.
What's up or down, real estate?
A KEB Hana Bank real estate analyst gives a seminar to the bank's customers on the housing market outlook at its headquarters in Seoul, Tuesday. The bank held the seminar to present an overview of the government's Sept. 13 real estate measures, including tax code revisions. Courtesy of KEB Hana Bank
Yen's fall undermines Korean exports
The value of the Japanese yen is expected to further weaken against the Korean won as investors are increasingly unloading their yen-denominated assets amid Japan's prolonged “super-easy” monetary policy, according to analysts. The Bank of Japan's below-zero interest rate that is widening with the U.S. Fed's rate and expectations of Prime Minister Shinzo Abe continuing a fisc...
Opening startup center
Financial Services Commission (FSC) Chairman Choi Jong-ku, third from left, raises his fist with IBK CEO Kim Do-jin, second from left, and young entrepreneurs participating in an opening event for a startup center inside the bank's Guro branch, Seoul, Monday. IBK's Guro startup center will provide not only a space for the young people to work, but will also provide consultati...
Shinhan Card seeks to become digital leader
Shinhan Card CEO Lim Young-jin said Monday that the credit card company has to completely change its DNA in order to embrace the new digital era. Celebrating its 11th anniversary at its headquarters in Seoul, the chief executive told his employees to practice thinking outside the box as it seeks to change its organizational culture to become a “platform company” under the “De...
Property rings alarm bell to growth
Korea has been issued a fresh warning by a global development bank over the country's overheated property market ignited by loose credit policies in recent years. The Asian Development Bank (ADB) said in its recent outlook report that Asia's fourth-largest economy will slow down further this year and in 2019 not only because of the U.S.-China trade conflict, but also due to i...
[Macro Today] Work hard, die poor
There is a new saying in town, or better yet what many prefer to say “silver town,” as the country's population grows older and shrinks. “Study hard, work harder and die poor.” This deviates from what many used to embrace and find hope in their senior years after committing and sacrificing their youth to long working hours - work hard, play hard.
MKIF shareholders may raise fee issue
Macquarie Korea Asset Management will remain as the manager of an infrastructure fund it has been managing for 16 years _ the Macquarie Korea Infrastructure Fund (MKIF). This comes as the fund's shareholders rejected a proposal by Platform Partners Asset Management to replace Macquarie with KORAMCO REITS Management & Trust, which had agreed to manage the fund at one-eighth of Macquarie's management fees.
Specter of capital flight looms large
Fears over capital flight are heightening as the interest rate gap between the United States and Korea has increased to 0.75 percentage points, the widest in 11 years and two months. This comes as the U.S. Federal Reserve raised its rate by 25 basis points to a range of 2 percent to 2.25 percent after a two-day meeting. It is expected to further widen even if the Bank of Kore...