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Reporter : Anna J. Park
Tue, May 30, 2023 | 09:56
Robotics stocks soar over positive outlooks on future growth
Local robotics stocks are enjoying a rapid bull market, reflecting investors' expectation over further mergers and acquisitions of robotics companies by conglomerates as well as the government's deregulation moves to foster the state-of-the-art industry. The share price of Rainbow Robotics reached its all-time high of 136,900 won ($104.90) in the early trading hours during Fr...
SC, Citibank to send hefty dividends to head offices despite regulator's recommendations
Major foreign banks stationed in Korea plan to send over 230 billion won ($175 million) to their overseas headquarters as dividend payments from last year's business performance. According to the financial industry, Standard Chartered (SC) Bank Korea decided to pay dividends amounting to 160 billion won at their regular board meeting on Thursday.
FSS to inspect Yuanta, Hyundai Motor Securities, Hanwha Asset and NH-Amundi Asset
The Financial Supervisory Service (FSS) has selected Yuanta Securities and Hyundai Motor Securities as brokerages for regular inspection this year. The FSS conducts inspections of financial firms once every several years, looking into overall business operations, structures and internal systemic issues.
FSC to strengthen capital buffer requirement on banks from Q2 or Q3 this year
Financial authorities aim to require banks to set aside an additional capital reserve called a “countercyclical capital buffer” (CCyB), on top of lenders' mandatory capital reserve buffers required for their banking business. This is to make the banking sector more accountable and adaptable to potential external liquidity threats.
Stock market posts biggest daily fall this year amid SVB fallout
The main index KOSPI slid below 2,400 points in Tuesday's session, as foreign investors dumped local stocks on pessimistic outlooks amid concern over the collapse of Silicon Valley Bank (SVB) late last week.
Calls rise for bolstered deposit insurance coverage following SVB disaster
The sudden collapse of U.S.-based Silicon Valley Bank (SVB) earlier this month has sent jitters across the Korean banking industry, resulting in increased calls to bolster the country's state-led deposit insurance coverage policy.
G20 Sherpa ambassador highlights importance of understanding statistics
Ambassador for International Cooperation on G20 Affairs Song In-chang, who is also an elite public official with expertise in economics and international finance, strongly advises the public to become savvy with statistics. His interest in statistics grew after realizing that a solid understanding of statistics is a precursor to drawing up beneficial policies, which in turn c...
UBS, ESK sanctioned for violating short-selling rules
Korea's financial regulators recently imposed a total of 6 billion won ($4.5 million) worth of penalties on two foreign financial companies - UBS Securities and ESK Asset Management - for violating local short-selling rules.
Kakao to take over SM as HYBE bows out
The fierce battle between Kakao and HYBE over the management rights of SM Entertainment ended Sunday with HYBE giving up on its quest for its acquisition of SM. The mutual decision was reached three days after the two competing companies had entered talks on Friday to solve the issue of who would take over SM's management rights.
Securities firms find opportunities in tender offer market
With a series of tender offers grabbing recent headlines, local securities firms' investment banking departments seem to be perking up, after months of recessional declines due to plunged asset prices.
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