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Reporter : Lee Min-hyung
Sat, June 3, 2023 | 06:39
KDB maps out Busan relocation plan as protests intensify
The controversial relocation plan of Korea Development Bank (KDB) is taking shape, as the state-run lender prepares to take specific administrative steps by the end of June. According to a KDB report submitted to Rep. Kang Min-kuk of the ruling People Power Party, the bank has formulated its relocation plan from Seoul to the nation's southeastern port city of Busan.
Time to discuss initial exchange offering: Dunamu chief
Korea should start an in-depth discussion on the initial exchange offering (IEO) for the innovative growth of the digital asset industry here, Dunamu CEO Lee Sirgoo said Thursday.
Daishin acquires controlling stake in Korean real estate securities exchange
Daishin Financial Group has acquired a controlling stake in a Seoul-based real estate securities trading platform, as part of its first step for business expansion into security tokens transactions. The financial group claimed a 90-percent stake in Kasa and the latter's management right, Wednesday, with a view to generating synergy with its conventional financial businesses, ...
Financial regulators consider waiver on deposit insurance cap
The country's financial regulator is considering the removal of a cap on deposits protected by the state-run deposit insurer after the abrupt collapse of Silicon Valley Bank (SVB) sent shockwaves throughout the global financial market
Securities firms seeking more female directors
Securities firms are set to prioritize the appointment of female outside directors during their regular shareholders' meetings this month, in a move to enhance their environmental, social and corporate governance (ESG) management. The ratio of females on boards, however, still falls short of the average of other industries.
Korean financial groups frustrated over growing bureaucratic control
Korea's major financial institutions stand at a critical crossroads ahead of their regular shareholders' meetings this month, facing mounting political pressure to drastically reform their governance structures. This poses a serious dilemma for leading financial holding firms, such as KB, Shinhan, Hana, Woori and NongHyup, even after they chalked up record earnings on steep r...
FSC expedites globalization of financial sector
The Financial Services Commission (FSC) pledged Monday to spur the globalization of Korean financial firms and revamp the rules to increase foreign capital inflow to the country. As part of its moves, the authority decided to set up a special team focusing on the task amid growing saturation of the local financial market, it said.
Korean stocks still vulnerable to Fed's future policy tightening
The Korean stock market is expected to display increased volatility until the U.S. Federal Reserve's upcoming rate-setting meeting slated for two days from March 21, according to market analysts Friday. The outlook comes as the benchmark KOSPI fell below the psychologically-important 2,400-point level after foreign and institutional investors went on a selling spree. The won ...
BlackRock becomes Samsung Securities' third-largest shareholder
BlackRock, the world's largest asset manager, has become Samsung Securities' third-largest shareholder as of the end of February, data showed. According to data from the Financial Supervisory Service, the U.S. investment firm secured a 5.46 percent stake in the Samsung affiliate as of Feb. 28. No other global asset managers possess more than a 5 percent stake in a Korean secu...
AhnLab shares plunge on founder's political defeat
Shares of AhnLab, a security software company, reported a double-digit price decline, Thursday, after Rep. Ahn Cheol-soo suffered a crushing defeat in the race for leadership of the ruling People Power Party (PPP). Ahn is the founder and the largest shareholder of the company.AhnLab shares started trading with the huge fall reflecting investors' disappointment in the overnigh...
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