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Reporter : Kim Bo-eun
Sun, October 1, 2023 | 21:00
Hana Bank faces partial business suspension for mis-selling of funds
A partial business suspension is looming over Hana Bank, as financial authorities determined the lender should become subject to the penalty for mis-selling funds to investors from 2017 to 2019.
Will Samsung Life object to punitive measure for cancer insurance?
Samsung Life Insurance is mulling its next steps after financial authorities slapped 155 million won ($128,655) in fines and an “institutional warning” on the insurer earlier, for violating regulations in refusing to cover costs for cancer policyholders.
Korean stocks plunge on US rate hike, Omicron fears
Korean stocks took a heavy beating and dipped to the lowest level in 14 months Thursday as foreign investors dumped local shares after U.S. Federal Reserve Chairman Jerome Powell signaled a rate hike in March, while the Omicron variant spreads rapidly here. The benchmark KOSPI closed at 2,614.49, down 94.75 points or 3.50 percent from a day before. The previous low was 2,591....
PEF market forecast to continue growth in coming years
The local market for mergers and acquisitions (M&A) has grown over the years, and so has private equity firms' (PEF) role in related deals.
Extra budget feared to lead to rate hikes, inflation, burdening vulnerable
The government is drawing up another 14 trillion won ($11.7 billion) budget to support small business owners afflicted by the COVID-19 pandemic, but ironically, it is feared that the extra budget will add yet more of a burden to affected households and businesses, as the situation is set to trigger a rise in lending rates as well as consumer prices.
Presidential candidates hesitant to push for Jeonju financial center
Korea has often been criticized for a populist approach to policies in key industries. Previous administrations claimed the relocation of state-run institutions, once concentrated in Seoul, to across the country was a means to drive the growth of provincial areas.
Korean banks expand presence in Asia
Local banks are expanding their operations in Asia as they increasingly turn to overseas markets for new business opportunities.
Samsung Life Insurance weighed down by legal disputes
Samsung Life Insurance has been mired in a number of legal battles in the past few years, which have weighed on the insurer as a major burden.
KB could serve as benchmark for labor-backed board member system
Private companies have been on alert since the National Assembly passed a bill to introduce a system at state-run firms, via which unions will be able to be represented by a member at the board level.
SillaJen investors likely to take legal action
Retail investors of SillaJen are seeking to take legal action following the Korea Exchange's preliminary decision on Tuesday to delist the troubled biotech company. While the final decision is set to be made next month, with SillaJen pledging to appeal, the prevailing view is that there is little chance of the company's relisting on the secondary Kosdaq bourse.
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