South Korea's state pension provider owns 5 percent or more of over 300 listed companies amid increased shareholder activism by the service, a financial information provider said Monday. The National Pension Service held stakes of 5 percent or greater in 313 companies traded on the country's major and secondary bourses as of the end of January, up 7.2 percent, or 21 firms, from the end of 2018, according to FnGuide. The state pension provider also owned 10 percent or more of 96 listed corpora

Foreign investors became net buyers of South Korean stocks for the second straight month in January and increased their investment in local bonds, data showed Monday. Foreigners bought a net 408 billion won ($342 million) worth of local stocks in January, according to the data from the Financial Supervisory Service. As of end-January, local stocks held by foreign investors came to 581.5 trillion won, accounting for 33.8 percent of the country's market capitalization. By country, investors fr

The Korea Herald is publishing a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed. After a stellar 2019, investors are naturally asking themselves whether the strong performance can continue in 2020. Trying to answer this is difficult as different perspectives provide different answers. Our approach to this challenge is to start with a historical, quantitative lens before trying to figure out why the current situation mi

Eyes fixed on BOK’s upcoming economic outlook revision results

South Korea’s financial authorities on Sunday unveiled a new set of guidelines on public disclosure of information for listed biopharma firms, in a move to ward off market uncertainty. Clinical trial-stage pharmaceutical companies listed on the tech-heavy Kosdaq are required to disclose any significant progress in their business -- including each stage of clinical trials, from success to suspension or termination, approval or cancellation for drug production, distribution and sales, techn

Amid the fast-growing private equity in APAC, Korea remains a stable buyout market with relatively lower competition, says seasoned Asian private equity investor

SEJONG -- South Korea’s economy advanced only 2 percent in 2019, despite the government’s pump-priming measures coupled with the central bank’s monetary easing policies. The figure stayed below the economic growth rates, posted by two of the world’s largest. The US and China marked 2.3 percent and 6.1 percent economic growth, respectively, last year. Korea also lagged behind major emerging countries in Europe in GDP growth -- Poland (4 percent), Lithuania (3.9 percent)

Pension funds’ moves raise hopes for shareholder’s rights, worries over management interference

South Korea has strengthened its crackdown on travelers' attempts to smuggle out face masks in bulk to fight the new coronavirus, officials said Saturday, with the customs office confiscating the protective goods and imposing fines when perpetrators are found. Since Thursday, people who seek to take face masks from the country for purposes beyond that of their own use are required to report to the customs office at airports and seaports. The strict rule is aimed at preventing travelers and me

South Korea’s financial watchdog, the Financial Supervisory Service, has become the target of criticism for having failed to prevent the recent fiasco involving derivatives-linked funds. The state-run agency is also accused of trying to duck responsibility for the incident, which involved two of the largest banking groups here. The FSS on Monday decided to impose sanctions on the CEOs of major banking groups --  Woori Financial Group and Hana Financial Group -- which will have

Hedge fund operator Lime Asset Management will likely announce the amount of losses made by some of its troubled funds next week, according to the Financial Services Commission on Friday. The audit process on Lime’s now frozen funds, being conducted by audit firm Samil PricewaterhouseCoopers, has reportedly completed and the result is scheduled to be sent to the fund operator today. “The audit seems to have taken more time than expected because necessary documents and data have

     The South Korean government will hold a large cultural event, including a K-pop concert and food exhibition in Russia to commemorate the 30th anniversary of the two countries’ diplomatic ties, according to the nation’s fiscal policy chief on Friday. "The government will host KCON as well as a trade fair in Russia this year,” said Finance Minister Hong Nam-ki during a meeting held to develop state-backed events for diplomatic ties. An official fro

Finance Minister Hong Nam-ki said on Friday that the ministry will implement measures to control the supply and distribution of masks and hand sanitizers next week, warning that the government would impose harsh penalties on those hoarding the products. “The government will take stricter measures to prevent illegal activities that could risk the public health and stoke concerns among the people,” said the finance minister, who chaired a meeting with officials at the ministry on t

Seoul stocks opened lower Friday following a three-session winning streak as investors continue to assess the economic impact of the new coronavirus. The benchmark Korea Composite Stock Price Index (KOSPI) fell 9.21 points, or 0.41 percent, to 2,218.73 in the first 15 minutes of trading. Some investors turn to offload stocks on profit-taking following the market's solid rebound in the past three sessions from a 5.7 percent decline last week. Positive factors include China's decision to cut

Index improvement attributable to lease deals in downtown landmark buildings