[THE INVESTOR] The prosecution raided the office and home of National Agricultural Cooperative Federation chairman Kim Byeong-won on June 17 on suspicion of illegal activities during the election campaign. The NACF is Korea’s largest agroindustry body that counts NongHyup Financial Group among its affiliates. Its chairman is elected among chiefs of regional branches who run for office.NACF chairman Kim Byeong-won.The prosecution suspects that Kim took part in illegal campaign activities during t

[THE INVESTOR] Goldman Sachs has bought a majority stake in local cosmetics company Carver Korea in a deal worth some 400 billion won (US$ 341.7 million), an industry source said Friday. A consortium, formed by Goldman Sachs and private equity fund Bain Capital, has struck a deal to acquire more than 50 percent stake in Carver Korea. Before the deal, 60.17 percent shares were owned by the cosmetic maker’s chief executive Lee Sang-rok. Carver Korea, which is well-known here for its beauty product

[THE INVESTOR] Korean companies are scurrying to issue new corporate bonds to raise cheap money as the country’s central bank recently cut its key rate to a historic low.  (Posco Daewoo)POSCO Daewoo, a trading company, is poised to issue new debt worth 100 billion won (US$ 85.5 million) early July in a bid to pay back its 200 billion won worth of bonds that mature on Nov. 16. “We plan to issue the bonds in advance due to the current low interest rate. If the US raises its rate during the second

[THE INVESTOR] The latest financial regulations released by the government in efforts to secure foreign currency stability met with mostly positive responses from industry watchers.Regarding one of the key features requiring banks to raise their foreign exchange liquidity coverage ratio for banks, experts said the move would eventually lead to reinforcing the health of the banking sector. As a part of the stability plans, financial regulators said local banks will be required to raise their FX L