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Shinhan Financial Group said on Oct. 22 that it had signed a memorandum of understanding with the Vietnamese subsidiary of Singapore-based ride-hailing giant Grab to jointly develop new digital financial services. Under the agreement, Shinhan’s startup accelerator unit, Shinhan Future’s Lab Vie...
South Korea’s sovereign wealth fund Korea Investment Corp. was seeing a stock price fall in Ontario-based marijuana maker Canopy Growth, as its $18 million bet on the company lost glitter in the first half of 2020, a lawmaker said on Oct. 19. The ruling Democratic Party of Korea’s Rep. Jung Su...
London-based financial intelligence company PEI said Oct. 19 it planned to hold PDI Seoul Forum Virtual Experience on Nov. 10. The virtual event, organized by PEI’s publication Private Debt Investor, is expected to offer participants a glimpse of private debt investment strategies, debt investo...
Share price of Big Hit Entertainment, an entertainment agency behind K-pop boy band BTS, slid for two straight days right after the high profile initial public offering on Oct. 15. The company’s stock price traded 19.77 percent lower at 207,000 won ($180.6) in intraday trading Friday. After soar...
Standard Chartered Bank Korea, KB Financial Group and Mirae Asset Daewoo were recognized for their best practices in corporate governance and ESG management, respectively, the companies said Wednesday. SC Bank Korea, wholly owned by London-based Standard Chartered Bank, received the “A+” rating...
Kids Note, an operator of a mobile platform for nursery schools and parents in South Korea, said on Oct. 13 it was preparing to go public in 2022. As part of its initial steps for the planned initial public offering, the company has recently picked Daishin Securities as a lead underwriter. F...
Shinhan Financial Group said Oct. 12 that minority shareholder BNP Paribas has bought a stake worth an undisclosed amount in the South Korean banking group by securing the minimum threshold to keep the strategic partnership intact after a scheduled equity increase. According to Shinhan, BNP Pariba...
Amid fierce backlash from retail investors on the Korean government’s major shareholder standards, the Finance Ministry is currently mulling to alter its plan to define retail investors with shares worth 300 million won ($260,000) as large shareholders. “The financial authority is considering t...
Yoo Myung-soon, interim chief executive officer of Citibank Korea, was recommended as the sole candidate for the bank‘s top post, paving the way for her to become the first female CEO of the local branch of the US lender. The appointment recommendation committee under the South Korean subsidiar...
Kyochon F&B, South Korea’s largest fried chicken franchise, will go public next month, aiming to secureup to 71.3 billion won ($61.4 million) of funding. According to the company’s securities report submitted to the Financial Services Commission on Oct. 5, the fried chicken franchise will issue...
Within less than an hour, nearly 2.7 trillion won ($2.32 billion) flowed into brokerages handling a two-day public subscription for shares of Big Hit Entertainment, the agency behind K-pop sensation BTS, Monday, reflecting explosive interests from retail investors, industry insiders said. Retail ...
Lotte Insurance said on Sept. 25 that it would not consider delisting itself from the country’s main bourse Kospi, refuting rumors by some local media reports. Followed by the nation’s sole bourse operator’s call for explanation on the delisting rumors, the insurance firm made its official an...
Major South Korean lenders’ decision to invest some $100 million in a hotel and retail project at 20 Times Square in New York in 2018 has come back to bite them two years later, with the property’s foreclosure last year continuing to wreak havoc, local reports said on Sept. 24. In 2018, French ...
Korean investment banking group Mirae Asset Group is being swamped by litigations at home and abroad, including one against China’s Dajia Insurance Group surrounding high-profile hotel deals in the United States, filings showed Monday. As of the end of June, the total litigation costs incurred to...
With a mere estimate of the market value of Big Hit Entertainment, the label behind BTS, reaching nearly 4.6 trillion won ($3.97 billion), eyes are on the seven-member boy band that generates most of the company’s revenue. The K-pop agency is scheduled to make its market debut on South Korea’s ...
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