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Reporter : Lee Min-hyung
Sat, June 3, 2023 | 06:05
Why are securities stocks plunging despite market rebound?
Securities stocks here are extending dismal performances. This is happening despite clear signs of a rebound in the local stock market, as investor sentiment has yet to recover due to weak earnings outlooks of brokerage houses and financial uncertainties overseas sparked by the sequential collapse of major financial institutions in the U.S. and Europe, analysts said.
'Korean capital markets set to stabilize amid growing hope of rate freeze'
Korea's capital markets will gain gradual traction for a soft landing, as the Bank of Korea (BOK) is forecast to end its rate hike cycle at the current level amid diminishing inflationary woes here, analysts said Tuesday. Even if local financial markets are still clouded with uncertainties ahead of a full-fledged recovery, market participants will slowly regain their confiden...
Securities firms reduce dividends amid earnings declines
Korea's major securities firms have reduced their 2022 year-end dividend offerings by as much as 55 percent amid a prolonged stock market slump, data showed Monday. According to data from the Financial Supervisory Service (FSS), all of the listed brokerage houses here - except for Meritz Securities - decided to cut their dividends.
Woori's new chairman to accelerate bid for SK, eBest, Yuanta Securities
Woori Financial Group is forecast to accelerate its bid for the acquisition of a mid-tier securities firm - either SK Securities, eBest Investment & Securities or Yuanta Securities - under the leadership of the group's new Chairman Yim Jong-ryong, industry officials said Monday.
Daol Investment & Securities seeks earnings rebound with new leader
The new head of Daol Investment & Securities said he will focus on risk management and ensure that the mid-tier brokerage secures an earnings rebound. Hwang Joon-ho, who was appointed as CEO on March 26, is widely known as a renowned strategist in the securities industry with more than 36 years of experience. He studied business administration at Seoul National University.
POSCO to expand development of earthquake-resistant steel solutions
POSCO, the nation's leading steelmaker, is on track to expand its development of earthquake-resistant steel products amid growing concerns about quake devastation, both here and abroad. Calls have recently grown for the establishment of earthquake-proof buildings after a magnitude 7.8 quake hit southern Turkey in February. The catastrophic quake destroyed more than 100,000 bu...
Mirae Asset's Japanese joint venture tops W1 tril. in assets under management
Global X Japan ― a joint venture co-established by Mirae Asset Global Investments and Daiwa Securities ― has attained assets under management (AUM) worth 100 billion yen (1 trillion won) in almost two years since releasing its first product there.
Terraform Labs co-founder's extradition could be delayed more than 1 month
The extradition of Do Kwon, the co-founder and CEO of the now infamous Terraform Labs, could be delayed by more than a month, as his legal representative expressed the intent of appealing against the upcoming judgment from the first trial in Montenegro where he is in custody on charges of passport forgery.
KB wins highest ESG rating from MSCI
KB Financial Group has won the highest rating of AAA in MSCI's 2022 environmental, social and corporate governance (ESG) evaluation, the company said Wednesday. According to KB, MSCI conducts a seven-grade ESG management evaluation on listed companies around the globe. Only about the top 6 percent of 198 banking industry players here and abroad can achieve the top rating, KB ...
Financial industry opposes gov't's move to revamp reward system
Financial industry players here are expressing regret over what they call “unrelenting and unilateral” government demands to revamp reward systems. After banks chalked up record earnings last year on global interest hikes, President Yoon Suk Yeol and his administration stepped up pressure on lenders, criticizing their excessive earnings growth driven mostly by their widened l...
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