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Tue, November 29, 2022 | 17:04

PEFs face challenges raising capital

PEFs face challenges raising capital

The amount of capital committed for fundraising by local private equity firms (PEFs) has plunged this year, amid soaring global interest rates and increasing economic uncertainty. According to data by the Financial Supervisory Service (FSS), the amount of newly committed capital for local PEFs during the first quarter of this year stood at 2.7 trillion won ($1.94 billion), wh...

Anna J. Park | 2022-09-14 16:12

Seoul shares down nearly 1.5% in late Wed. morning trade

Seoul shares down nearly 1.5% in late Wed. morning trade

Korean stocks traded 1.48 percent lower late Wednesday morning amid market jitters over the U.S. inflation data that would prod the Federal Reserve to stay hawkish on its rate hikes.

2022-09-14 11:38

Won hits over 13-year low following disappointing US inflation data

Won hits over 13-year low following disappointing US inflation data

The Korean currency on Wednesday tumbled below the 1,390-won mark against the greenback for the first time in over 13 years as the higher-than-expected inflation data in the United States stoked worries over the Federal Reserve's more aggressive monetary tightening.

2022-09-14 10:41

Seoul shares down nearly 1.5% in late Wed. morning trade

McDonald's Korea initiates sale procedure for M&A market

McDonald's Korea initiates sale procedure for M&A market

While major burger franchises in Korea, including Mom's Touch and Burger King Korea, are expected to be put up for sale soon, McDonald's Korea has become the first to officially initiate the selling process. According to the investment industry Tuesday, Mirae Asset Securities - the organizer of the sale of McDonald's Korea - has recently sent an investment teaser letter to po...

Anna J. Park | 2022-09-14 08:42

Hana Financial joins preliminary bidding for acquiring Lotte Card

Hana Financial joins preliminary bidding for acquiring Lotte Card

Hana Financial Group turns out to be the only major financial group that has joined a preliminary round of bidding for acquiring Lotte Card that ended last week. Other major candidates that the market had previously anticipated to see joining in the acquisition race, such as Shinhan Financial, KT, Toss Bank and Woori Bank, are said to have not participated in the preliminary ...

Anna J. Park | 2022-09-13 16:36

Seoul shares spike 2.7% on expectations of slowdown in US inflation

Seoul shares spike 2.7% on expectations of slowdown in US inflation

Korean stocks rallied by nearly 3 percent Tuesday as investors were optimistic ahead of the release of the U.S. inflation data, with eyes on the Federal Reserve's rate-setting policy meeting set for next week. The local currency rose against the U.S. dollar.

2022-09-13 16:25

Hyundai Motor, LGES stocks shine brighter amid bearish stock market

Hyundai Motor, LGES stocks shine brighter amid bearish stock market

As the won-dollar exchange rate soared to a 13-year high recently, local stocks have generally become less attractive to foreign investors due to the weakened Korean currency. But some local stocks still remain popular among foreign investors. They have been focusing lately on buying LG Energy Solution (LGES) and Hyundai Motor. A weak won makes Korean automobiles cheaper to b...

Anna J. Park | 2022-09-12 16:33

Typhoon Hinnamnor hits Korean general insurers

Typhoon Hinnamnor hits Korean general insurers

Local non-life insurers lost tens of billions of won, as more than 6,000 vehicles here were damaged during Typhoon Hinnamnor's rampage across the southern region of the peninsula. According to data from the industry, a total of 6,762 cars were damaged by floods as of 3 p.m. Thursday. The damage is worth 54.6 billion won, according to data compiled by the General Insurance Ass...

Lee Min-hyung | 2022-09-08 14:34

Won dips below 1,380 level per dollar for 1st time in more than 13 years

Won dips below 1,380 level per dollar for 1st time in more than 13 years

The Korean currency on Wednesday declined below the 1,380-won level against the U.S. dollar for the first time in more than 13 years during intraday trading amid a sharp decline in the country's current account surplus.

2022-09-07 09:44

Korean won continues to lose ground against US dollar

Korean won continues to lose ground against US dollar

Seoul shares closed higher on Tuesday, snapping a three-day losing streak, as individuals scooped up large-cap stocks amid concerns over the Federal Reserve's aggressive rate hikes and a global recession. The Korean won tumbled to an over 13-year low against the U.S. dollar.

2022-09-06 16:33

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