The Korea Herald

[Photo News] Startup Market

Nov 14, 2016

Participants celebrate the launch of KRX Startup Market at a conference hall at the Seoul office of KRX in Yeouido, western Seoul, Monday. From left: Lee Young, head of Korea Venture Business Women’s Association; Hwang Rok, CEO of Korea Credit Guarantee Fund; Hwang Young-key, chairman of Korea Financial Investment Association; Lee Byung-rhae, standing commissioner at Securities and Futures Commission; Jeong Chan-woo, CEO of Korea Exchange;Kwon Seon-joo, CEO of Industrial Bank of Korea; and Choi
[Kosdaq Star] i-Sens eyes US, China markets for blood glucose monitoring

Nov 14, 2016

This is the 29th in a series of articles analyzing major companies by market capitalization traded on the tech-heavy Kosdaq market. -- Ed
Seoul stocks open lower amid uncertainties

Nov 14, 2016

South Korean shares opened slightly lower Monday amid uncertainties triggered by Donald Trump's unexpected win in the US presidential election.The benchmark Korea Composite Stock Price Index lost 2.47 points, or 0.13 percent, to 1,986.95 in the first 15 minutes of trading.Most large-cap stocks were mixed across the board.Market bellwether Samsung Electronics fell 1.44 percent while No. 2 chipmaker SK hynix was up 0.50 percent. Top automaker Hyundai Motor advanced 0.38 percent and its auto parts
Report shows minors of conglomerate families holding big chunk of company stocks

Nov 14, 2016

Minors of conglomerates' owner families hold over 100 billion won (US$85.88 million) worth of stocks in affiliate companies, a report provided Monday by the Fair Trade Commission showed, a business practice that is legal but denounced nonetheless as a means of dodging taxes and retaining management control.According to the report submitted to the parliamentary committee on finance, 43 underage family members at 16 large business groups held stocks in 37 affiliates as of April 1 this year. The va
Seven bidders win Woori Bank stake

Nov 13, 2016

The Financial Services Commission announced on Sunday it would sell a total of 29.7 percent government stake in Woori bank to seven bidders, ending sixteen-years of efforts to privatize the state-funded lender. The seven chosen buyers are: Tong Yang Life Insurance, Mirae Asset Global Investments, Eugene Asset Management, Kiwoom Securities, Korea Investment & Securities, Hanwha Life Insurance and IMM Private Equity. IMM PE has won the largest share of 6 percent among the buyers. Tong Yang took 4
Korea seeks to curb debt, bracing for Fed rate hike

Nov 13, 2016

South Korea’s financial authorities will enhance efforts to curb the growth of household debt to prepare for the possibility that the Federal Reserve might raise interest rates faster than market expectations after a surprising presidential election win by Donald Trump. According to a high-ranking official at the Financial Services Commission on Sunday, the Fed seems likely to increase its rates in December -- as it has long been preparing for -- despite the unexpected election result. The Korea
Think tank warns about exodus of foreign bond investors from 2018

Nov 13, 2016

Foreign investors will likely pull their money out of the South Korean bond market starting in 2018 as they move to safer assets on an imminent rate hike by the US Federal Reserve, a report said Sunday.According to the report by the Korea Institute of Finance, the rate difference between South Korean and US three-year Treasurys reached 0.37 percentage point as of September this year, narrowing from about 1 percentage point in 2014 and around 2.5 percentage points in 2012.The narrowed disparity w
Card spending by Chinese tourists in S. Korea jumps 22.9% in holiday season

Nov 13, 2016

Card spending by Chinese tourists in South Korea jumped more than 20 percent over the recent weeks from a year earlier on increased holiday shoppers and visitors, industry data showed Sunday.A total of 490 billion won ($419.9 million) worth of purchases were made by China-issued credit cards between Sept. 24 and Oct. 14, up 22.9 percent from the same period last year, according to the data released by Shinhan Card Co.Chinese tourists flocked to South Korea during the China's National Day holiday
Seven bidders seek Woori stake

Nov 11, 2016

A total of seven bidders participated in the main bidding for a combined more than 30 percent stake in Woori Bank, the Financial Services Commission said Friday.The FSC had a plan sell the 30 percent stake in 4 to 8 percent splinters to multiple investors without managerial rights for the bank. Korea Deposit Insurance Corp., the current largest shareholder of the bank, closed the bidding at 5 p.m. and seven out of 16 previously mentioned bidders submitted bids for the stake. The seven bidders in
KDB, Eximbank to extend conditional help to Daewoo shipbuilder

Nov 10, 2016

South Korea's two main policy lenders announced plans Thursday to provide Daewoo Shipbuilding & Marine Engineering Co. (DSME) with financial support worth a total of 3.2 trillion won (US$2.7 billion), urging the firm's labor union to refrain from taking collective actions and support its restructuring efforts.The Korea Development Bank (KDB), a main creditor of the troubled shipyard, said it will convert 1.8 trillion won of debt into equity. The Export-Import Bank of Korea (Eximbank) also plans
Woori Bank shares rise before Friday bidding round

Nov 10, 2016

Woori Bank shares rallied Thursday on hopes of a successful bidding Friday, the fifth attempt by the government to privatize a 30 percent stake in the bank. The bank’s shares have seen steady growth since late September when the Financial Services Commission announced its plan to sell the 30 percent stake in 4 to 8 percent splinters to multiple investors without managerial rights for the bank. On Thursday, the bank’s shares jumped 3.29 percent to close at 12,550 won. A total of 18 institutional
Equities bounce back from Trump shock

Nov 10, 2016

South Korean stock markets rapidly rebounded Thursday, after the triumph of US President-elect Donald Trump, but individual shares showed mixed reactions, with biomedicine, refinery and defense manufacturers rising while exporters fell.Along with Japan’s Nikkei opening about 6 percent higher in the morning compared to Wednesday’s close, Seoul’s main bourse Kospi started the day 1.87 percent higher than the previous day. The secondary Kosdaq opened at 615.16, 2.57 percent higher. The Kospi finish
Samsung BioLogics makes strong market debut

Nov 10, 2016

Shares of Samsung BioLogics, a biopharmaceutical unit of Samsung Group, made a strong market debut on Thursday trading above its initial public offering price.Samsung BioLogics was changing hands at 136,500 won ($118) as of 9:20 a.m., above the IPO price of 136,000 won. Its market capitalization was some 9.03 trillion won.Right after the opening bell, the company slipped as investors went for immediate profit, but pared earlier losses to make upturn.With the IPO, Samsung BioLogics, which makes c
Korea braces for market chaos after Trump win

Nov 9, 2016

Emergency meetings convened to discuss looming changes in US economic policies toward protectionism
Seoul’s stock markets crash as election results pour in

Nov 9, 2016

As voting results in the US showed Republican presidential candidate Donald Trump leading against Democrat’s Hillary Clinton on Wednesday, the stock markets in South Korea, a major trade partner and longtime political ally, crashed in panic.Seoul’s main bourse Kospi opened higher than Tuesday in the morning, but began tumbling around 11 a.m. upon news of Trump beating Clinton in major swing states.Choi Sang-mok, first vice minister of the Ministry of Strategy and Finance, speaks during a meeting