Market watchers say Big Hit is overvalued, short of revenue sources

Overseas branches of South Korean securities companies saw their combined net profit rise 48.5 percent in 2019 from a year earlier due mainly to increased interest income and earnings from commission fees, data showed Tuesday. The combined net profit of 67 overseas branches of 14 securities companies stood at $182.4 million in 2019, up $59.6 million won from 2018, according to the data from the Financial Supervisory Service. The hike in net profit came on the back of increased interest income

South Korean law firm Yulchon said Monday that it had named Kim Yong-sang, a US lawyer specializing in international litigation and arbitration, as co-head of its international dispute resolution team. Kim had previously worked as co-representative of the Seoul office of Los Angeles-based international law firm O’Melveny & Myers since 2016. Kim is noted for his 15 years of experience and expertise in US litigation involving antitrust, anti-corruption, international arbitration a

Former Shinhan Bank CEO Wi Sung-ho has joined Taekwang Group as an executive member of its insurance arm, filling his financial career vacuum after stepping down from his previous post. Wi on Monday attended his first day on the job as the new vice chairman of Heungkuk Life Insurance, according to the insurer’s officials. He will also serve as management adviser for Heungkuk Fire & Marine Insurance, Heungkuk Securities, Heungkuk Asset Management, Goryo Savings Bank and Yegaram Saving

Experts warn commercial lenders to diversity revenue sources, seek ways to coexist with fintechs, Big Techs

South Korean stocks snapped a three-day rally to drop more than 2 percent Monday on renewed tensions between the United States and China amid the novel coronavirus pandemic. The Korean won sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 52.19 points, or 2.68 percent, to close at 1,895.37. Trading volume was high at 1.1 billion shares worth 10.1 trillion won ($8.2 billion), with losers outpacing gainers 549 to 312. Investor sentiment was spooke

South Korea’s bourse regained some momentum in April as the spread of the new coronavirus showed signs of easing but the prolonged export slump will continue to deter foreign investors, brokerages said Monday. According to the Korea Exchange, the country’s main bourse Kospi plummeted to an 11-year low of 1,439.43 on March 19, but recovered 35.3 percent to reach 1,947.56 on Wednesday. After a selling spree by foreign and institutional investors on Monday, the index once again plung

In a preemptive risk management action, Shinhan Bank has registered the copyrights for the business guidelines and training videos that it has produced to comply with global economic sanctions, officials said Monday. The six articles that the bank has copyrighted include the full version of its economic sanctions compliance manual, the abridged version in Korean, the English version and three versions of related training videos in English, Chinese and Japanese. Last year, in light of the he

Lenin once said, “There are decades where nothing happens and there are weeks when decades happen.” One of the unsung and first casualties of humanitarian crisis situations is the neglect of applied research: Research that can otherwise tell us what works, for whom, how much, why and under what circumstances. Indeed, a recent article in the journal Science discusses scientists who are having to abandon projects they have otherwise invested lifetimes in because of COVID. This is no

Seoul stocks opened sharply lower Monday, tracking losses on Wall Street amid the new coronavirus pandemic. The benchmark Korea Composite Stock Price Index (KOSPI) fell 46.72 points, or 2.4 percent, to 1,900.84 in the first 15 minutes of trading. US stocks plunged Friday (local time) after US President Donald Trump indicated he may consider imposing tariffs on China over its handling of the novel coronavirus outbreak, renewing bilateral tension between the world's two largest economies. T

Kim Jong-un’s return may clear market fears, but unverifiable sources still disturb investors

Profit-seeking retail investors flocked to South Korea’s exchange-traded notes market to invest in the benchmark West Texas Intermediate, triggering a record trading volume of risky derivative proucts, data showed Sunday. According to the local bourse operator Korea Exchange, the average daily trading amounts in ETN market in April reached 412.3 billion won ($336.6 million), which was nearly 20 times higher from December last year and also the largest figure since the section was launche

The Korea Herald is running a regular contribution series written by senior investment strategists at Standard Chartered Group Wealth Management. -- Ed. What we have experienced in the past two months is unprecedented. The COVID-19 global pandemic and the resulting physical lockdowns will deliver a massive blow to the global economy. France’s statistical office estimates the current lockdown will cost the French economy 35 percent of daily GDP as long as it continues. That means a one

Despite better-than-expected performance in the first quarter, South Korea’s major listed firms are likely to see their earnings dip due to the prolonged export slump caused by the coronavirus pandemic, a local financial market tracker said Sunday. The combined operating profit of 138 listed companies is estimated at 19.97 trillion won ($16.3 billion) for the April-June period this year, down 2.34 trillion won, or 10.5 percent, from a year earlier, according to data compiled by FN Guide

Commercial real estate service firm Cushman & Wakefield said Sunday it was looking to introduce a social distancing office design concept to help its clients reopen their workplace and embrace the new norm in the wake of the COVID-19 pandemic. The concept -- dubbed “Six Feet Office” -- was unveiled as the stay-at-home restrictions has been showing signs of imminent alleviation. Ranging from creating visual boundaries using colored carpets and plexiglass shields to office signa