SEOUL, Oct. 3 (Korea Bizwire) – Insider stock ownership at South Korea’s family-run conglomerates rose in 2023 from a year earlier, data showed Tuesday, as more founding members sought to tighten their grip on management. The insider stock ownership rate of 72 conglomerates that have group owners reached 61.2 percent this year, up 1.3 percentage [...]
SEOUL, Sept. 30 (Korea Bizwire) – Assets held by South Korean households in Seoul and the surrounding metropolitan areas were some 70 percent larger than those owned by households in the non-metropolitan regions, data showed Saturday. The average per-household assets in Seoul, the western city of Incheon and the surrounding Gyeonggi Province came to 692.46 [...]
SEOUL, Sept. 19 (Korea Bizwire) – The Organization for Economic Cooperation and Development (OECD) on Tuesday maintained South Korea’s growth outlook and inflation forecast for 2023 at 1.5 percent and 3.4 percent, respectively. The latest figure is just above a 1.4-percent growth projection suggested by the South Korean government in July. The Paris-based organization had [...]
SEOUL, Sept. 19 (Korea Bizwire) — LG Energy Solution Ltd. (LGES) said Tuesday it has raised US$1 billion by selling global green bonds, a funding that will help the battery maker move forward with its aggressive market expansion. LGES sold $400 million worth of three-year debts in one tranche and $600 million worth of bonds [...]
SEOUL, Sept. 11 (Korea Bizwire) — The Seoul city government will hold a global financial technology (fintech) conference next month, bringing together fintech experts from around the world to discuss the digitalization trend in the financial industry, officials said Monday. The 2023 Seoul Fintech Week will kick off on Oct. 4 for a three-day run [...]
SEOUL, Sept. 7 (Korea Bizwire) – South Korea’s financial regulator on Thursday asked foreign securities firms to beef up efforts to prevent illegal stock short selling amid an increase in such cases. The Financial Supervisory Service (FSS) made the request in a meeting with compliance officers of 23 foreign securities companies here, calling for an [...]
SEOUL, Aug. 29 (Korea Bizwire) — South Korean companies are choosing to reduce the issuance of corporate bonds and are instead turning to bank loans to secure funds during an unexpectedly prolonged period of high interest rates, data showed Monday. Net repayments in the corporate bond market have shown a consistent upward trend, with the [...]
SEOUL, Aug. 4 (Korea Bizwire) — The number of retail investors accessing mobile trading systems (MTS), or smartphone trading, is rapidly rising amid sharp fluctuations in the share prices of secondary battery materials producers. According to industry sources, the daily active users (DAU) for five major brokerages — Mirae Asset Securities Co., Samsung Securities Co., [...]
SEOUL, Aug. 1 (Korea Bizwire) — The market capitalization of South Korea’s conglomerates soared more than 350 trillion won (US$273.8 billion) this year amid a bullish trend in the country’s stock markets, data showed Tuesday. The combined value of a total of 338 listed companies owned by 73 business groups reached 1.77 quadrillion won as [...]
SEOUL, July 21 (Korea Bizwire) — The number of South Korean listed firms that merged with or acquired business entities fell on-year in the first half of 2023, data showed Friday. A total of 47 South Korean companies either wrapped up or have been working on corporate mergers and acquisitions (M&As) during the first six [...]