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Reporter : Lee Yeon-woo
Thu, November 30, 2023 | 01:18
KDB Life fails to find new owner for fifth time as Hana withdraws
Hana Financial Group has announced its decision to withdraw from the acquisition of KDB Life Insurance. This marks the fifth time that the insurance subsidiary of the Korea Development Bank (KDB) has failed to secure a new owner.
Korea Times Forum navigates uncharted future of AI
Hundreds of participants, including ministers, ambassadors, and business insiders, at the Korea Times Forum, converged on a shared understanding: the digital revolution, ignited by artificial intelligence (AI), possesses the power to transform the landscape of possibilities, resetting our benchmarks for what can be achieved.
Why do foreign banks let CEOs serve multiple terms?
While financial authorities are advocating for governance reforms and voicing concerns about the prolonged tenure of CEOs in the financial sector, foreign banks seem to be sidestepping these pressures.
Naver, Kakao disappoint small investors with slumping performances
Once referred to as 'national stocks,' shares of Naver and Kakao are disappointing investors with sluggish performances this year. Securities firms have consistently reduced the target stock prices for both tech giants, predicting their third-quarter results will fall short of market expectations.
Small investors demand tougher action against BNP Paribas, HSBC for illegal short selling
Small individual investors, angered by the recent illegal short selling practices of BNP Paribas and HSBC, have called for more stringent measures to prevent a recurrence, even in the face of potentially record-high fines.
New GOPAX CEO expected to smooth Binance's entrance into Korea
Cryptocurrency exchange GOPAX has recently appointed Cho Young-joong, the CEO of CityLabs, as its new head. Cho, who will also continue his role at CityLabs, is the fourth CEO to assume office at GOPAX this year alone.
Korea's debt-to-GDP ratio expected to reach 58% by 2028: IMF
Korea's debt-to-gross domestic product (GDP) ratio is projected to approach 58 percent by 2028, placing it as the second-highest among non-reserve currency nations. The increase is also the most rapid, underscoring the urgent need for the government to enhance fiscal stability.
Provincial administrations race to attract IBK relocation
As the Korea Development Bank (KDB) contemplates relocating to Busan, various provincial administrations are vying to attract the Industrial Bank of Korea (IBK) to their regions. They anticipate that the bank might be included in the second phase of relocations, in line with the government's policy to decentralize state-run institutions from Seoul.
Foreign investors dump Korean stocks, bonds amid rising US market rates
According to data from the Bank of Korea (BOK), the stocks and bonds market saw a net outflow of foreign investments totaling $1.43 billion in September. Foreign investors withdrew $1.33 billion from the stock market, a significant increase from the previous month's outflow of $910 million. The bond market saw a more modest outflow of $100 million, a decrease from the previou...
'Active seniors' become dominant consumer group
As Korea becomes a super-aged society, healthier and wealthier elderly people, often referred to as 'active seniors,' are emerging as the predominant consumer group. Active seniors are individuals aged 50 and above who remain active in social endeavors and continue to indulge in consumption and leisure activities post-retirement.
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