[THE INVESTOR] Seoul will review the country’s financial industry environment for any shortcomings vis-a-vis global standards, Financial Services Commission Vice Chairman Jeong Eun-bo said on July 20.“(The financial authorities) will review whether there are elements in (South Korea’s) financial environment that fall short of global standards,” Jeong said at a meeting the chiefs of foreign financial institutions’ South Korean operations, saying that concerns are growing over their decision to re

[THE INVESTOR] Woori Bank, South Korea’s largest bank in terms of consolidated assets, posted a 35 percent on-year surge in its second-quarter net profits as its exposure to debt-ridden companies abates.The lender’s second-quarter net income surged to 307 billion won (US$269.81 million), up 35.8 percent on-year. “Given that Woori spent some 92 billion won to carry out an early retirement program during the second quarter, it posted net profit of over 400 billion won for two consecutive quarters,

[THE INVESTOR] Commercial and state-run banks of South Korea are planning massive foreign currency-denominated bond issuances in the second half of the year. According to industry sources, KB Kookmin Bank is planning to raise US$1 billion by issuing foreign currency denominated bonds. The bank is reported to be planning two issuances of equal amount. The first is set for between late July and early August, and the second is planned for sometime between October and November.  Headquarters of KB K

[THE INVESTOR] Moody’s Investors Service will become sole owner of Korea Investors Service, local media reported on July 18. According to reports, NICE Holdings agreed to sell all Korea Investors Service shares held by its subsidiary NICE Infra to Moody’s. NICE Infra currently holds one share less than half of Korea Investors Service. Once the deal is complete, Korea Investors Service will wholly owned by Moody’s. The global ratings agency first acquired a stake in Korea Investors Service in 199

[THE INVESTOR] South Korea’s household debt jumped more than 36 trillion won (US$ 31.70 billion) during the first five months of the year, Bank of Korea data showed. The rate of increase is higher than that recorded in the same period last year, in stark contrast to the government’s projections that the rate of increase will drop. According to the data, loans taken out by Korean households taken out from all depository institutions increased by 36.21 trillion won during the first five months of

[THE INVESTOR] South Korea’s household debt secured against residential properties broke the 500 trillion won (US$ 436 billion) mark for the first time in June, central back data showed on July 13. According to the Bank of Korea, household debt secured against residential properties rose 4.8 trillion won in June to reach 500.9 trillion won. Overall household debt hit 667.5 trillion won, up 6.6 trillion won from May. Compared to end of June 2015, the figure is 28.4 trillion won higher. Experts sa

[THE INVESTOR] Investment banking at local brokerages grew more than 41 percent from 2013 to 2015, with volume reaching 158.5 trillion won (US$137.65 million) last year, according to a local think tank. A recent rise in merger and acquisition deals involving South Korean firms was cited as one of the main drivers behind the growth. The Korea ExchangeIn 2013, brokerages engaged in 112.17 trillion won worth of investment banking, but the figure expanded by 41.3 percent, said the Korea Capital Mark