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Reporter : Lee Min-hyung
Thu, June 8, 2023 | 10:49
NPS reports record loss amid global financial unrest
The National Pension Service (NPS) reported its worst-ever investment loss in 2022 amid a global financial meltdown, the state-run pension fund said Thursday. According to data from the NPS, its fund operation division's investments last year achieved an operating rate of return of 8.22 percent or 79.6 trillion won ($60 billion).
Was Bank of Korea too hasty in key rate freeze?
Fears of a widening interest rate gap between the Bank of Korea (BOK) and the U.S. Federal Reserve are rattling financial markets here after what appears to be a “prematurely dovish” decision by the BOK. The Korean central bank froze its key rate at 3.5 percent on Feb. 23 amid escalating recession fears and a real estate meltdown.
Ex-Citibank Korea chief joins Samsung Fire as outside director
Samsung Fire & Marine Insurance nominated Park Jin-hei, former chief of Citibank Korea, as the firm's new outside director, seeking to bolster environmental, social and corporate governance (ESG) management. According to the non-life insurer's executive recommendation committee, Park will be able to help the company formulate a long-term ESG management strategy using his expe...
Korea Investment & Securities accused of bullying startup
Korea Investment & Securities is embroiled in a controversy over what a Seoul-based fintech startup called an “unfair and deceiving” contract on establishing the former's web trading system. The controversy is centered on an equity investment worth 1 billion won ($755,000) that the brokerage house made on Indexmine in January 2021.
Retail investors return to KOSPI
Retail investors returned to the local stock market in February, extending a belated buying spree of blue-chip stocks, mirroring the activities of foreigners earlier this year. Data showed Monday that retail investors net purchased 1.83 trillion won ($1.38 billion) worth of Korean shares between Feb. 1 and 24, surpassing the 1.04 trillion won foreign investors net bought over...
'Focus on yourself for sustainable growth'
Overcoming oneself should be a top priority for women to consistently develop their expertise in this male-centric investment banking (IB) industry, Ashley Hong, founder and CEO of APC Private Equity, said in a recent interview with The Korea Times. “Being a woman is not a handicap, nor is it a weapon,” Hong said. “I have seen so many women - including myself - struggling to ...
HYBE, SM go all-out to secure voting rights ahead of SM shareholders' meeting
The tug-of-war between the nation's two top entertainment agencies ― HYBE and SM Entertainment ― to secure as many shareholders' voting rights as they can is escalating as the former attempts to take management control of the latter. HYBE, which became the largest shareholder of SM on Feb. 22 by purchasing a 14.8-percent stake from the firm's founder Lee Soo-man, is requestin...
Securities depository's next leadership draws controversy
The Korea Securities Depository (KSD) is drawing controversy for “parachuting in” an outside figure who worked as a think tank member of President Yoon Suk Yeol's election camp. According to the KSD's executive recommendation committee, Lee Soon-ho - a researcher at the Korea institute of Finance - has been nominated as the sole candidate for the KSD's next presidency.
Frozen key rate feared to accelerate foreign capital outflow in Korea
The Bank of Korea's (BOK's) decision to freeze the key rate is feared to trigger a foreign capital outflow amid a widening interest rate gap between the United States and Korea. The decision came in reflection of deepening recession woes in the economy due to falling exports and weakening GDP growth here.
Has Korea's housing market bottomed out?
Korea's housing market is showing signs of a fragile recovery fueled by increasing transactions, with more market participants purchasing apartments in the hope that the interest rate will not rise dramatically any further, data showed Tuesday.