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Kakao Games, the gaming arm of local mobile messenger giant Kakao, said Wednesday it is looking to raise as much as 384 billion won ($298 million) in its initial public offering on the nation’s tech-heavy Kosdaq in September. The game developer is offering around 16 million new common shares in ...
The combined net profits of asset management firms in South Korea jumped 46 percent on-year during the April-June period this year amid the local stock market’s sharp rebound, data showed on August 25. The net income of 10 companies here came to 145.8 billion won ($122.95 million) in the second...
Morgan Stanley Capital International announced on August 13 it has added three South Korean biotechnology stocks to its MSCI Korea Index. This comes as the technology prowess of the companies has come under the limelight during the novel coronavirus outbreak and subsequently drove up their stock ...
South Korean financial institutions associated with Hong Kong-based hedge fund manager Gen2 Partners are in a predicament as they struggle to ensure the investment -- sold by them -- could be redeemed later on. Brokerage firms here that sold Gen2 Partners’ funds, invested in the funds or issued d...
South Korea’s largest internet-only bank said on August 5 that its number of monthly active users in June surpassed 11 million — the highest in the nation’s entire bank industry. Kakao Bank’s increasing number of users also boosted its earnings in the first half with its net profit standing a...
In its first step since resuming operation, internet-only lender K bank unveiled a mobile mortgage loan service on August 4, which allows customers to borrow money without visiting brick-and-mortar banking branches. Utilizing data scraping technology to gather customers’ credit information onlin...
Kakao Games, the games unit of Korea’s mobile giant Kakao, has submitted a registration statement to the Financial Services Commission, hoping to get listed on the nation’s tech-heavy Kosdaq market in September. By issuing 16 million new common shares, at a price between 20,000 won and 24,000 w...
The New York-based provider of exchange-traded funds Global X has listed its ETF -- which invests in global telemedicine and digital health companies -- on the Nasdaq, parent company Mirae Asset Global Investments said on July 31. The product -- the Global X Telemedicine & Digital Health ETF -- t...
Stock trading transactions on mobile platform Stockplus more than doubled in the first half of the year, mainly due to retail investors, platform operator Dunamu said Tuesday. The transaction volume between in the January-June period rose 117.5 percent on-year, with the accumulated transactions e...
South Korea’s first internet-only bank K bank plans to go public in three years, according to industry sources on July 29. The company recently raised new funds worth some 400 billion won ($334.5 million) by issuing new stocks and convertible preferred stocks with its capital increasing to 900 b...
The nation’s financial watchdog said on July 24 its probe revealed that scandal-ridden hedge fund Optimus Asset Management faked the fund portfolio to its investors, misappropriated their money and obstructed the authorities’ investigation. “Optimus misguided fund investors to pool their money,...
After months of negotiations and trading barbs, Jeju Air finalized its decision on July 23 to scrap its plans to purchase Eastar Jet -- a decision that may have been inevitable for Jeju amid uncertainties, but was detrimental to some 1,500 budget airline employees who may now lose their jobs. “D...
TR Investment has been given exclusive rights to negotiate with shareholders of MP Group, the operator of pizza restaurant chain Mr. Pizza, to buy a 41.39 percent stake for 35 billion won ($29.19 million), a disclosure showed on July 23. Under the binding memorandum of understanding, the South Ko...
The coronavirus pandemic is turning out to be a blessing in disguise for game companies who are staying resilient in South Korea, with Kakao Games’ market valuation soaring -- a blessing in disguise after its failed attempt for an initial public offering in 2018. According to over-the-counter tr...
South Korea aims to foster its intellectual property financial investment market to 1.3 trillion won ($1.08 billion) by 2024 to help firms deal with liquidity issues triggered by the coronavirus pandemic, the nation’s IP office said on July 2. The Korean Intellectual Property Office announced 14...
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