Lotte Group is poised to sell its financing unit Lotte Capital and discuss the matter in the respective board of directors meetings of its shareholding Lotte subsidiaries this week, according to a news report Monday. Lotte Capital is a privately held finance service provider dedicated to installment financing and facility leasing. Nearly 90 percent of shares are owned by Lotte subsidiaries and affiliates. Hotel Lotte owns 39.37 percent of stocks, Lotte Corporation has 25.64 percent, Lotte Engine

The financial watchdog said Monday it has strengthened guidelines on sales of equity-tied securities to better protect investors. Equity-linked securities, which are hybrid debt securities whose returns are determined by the performance of underlying equities, have become one of best-selling alternative investment products in South Korea amid record-low interest rates. The products are structured to track the performance of underlying assets and not guarantee the principle, as investors pre

A change in US monetary policy has relatively little impact on commodity-importing countries, like South Korea, a report said Monday.According to the report published by the Bank of Korea, when the US Federal Reserve raises its policy rate, the world's largest economy witnesses a contraction in demand for crude oil and other raw materials. The decreased US demand pushes down international commodity prices, which consequently leads to a decline in exports by resource-rich countries.At the same ti

The government plans to offer loans to people with the lowest credit ratings as a way to save them having to borrow from loan sharks, officials said Monday.Financial authorities operate a number of loan programs for people with bad credit scores, lending them money at a maximum 10.5 percent annual interest rate. Because the rate is fixed, however, those with the worst credit ratings at the bottom and who needed to be charged higher interest, were left out of the programs.Financial regulators and

The South Korean market operator’s decision to delist a local pharmaceuticals company is raising questions about the fairness in authorities’ action against firms accused of accounting errors, with investors comparing the case to that of Samsung BioLogics. A panel led by the Korea Exchange, the nation’s sole market operator, suggested Friday the removal of Kyung Nam Pharm, a Seoul-headquartered pharmaceutical company, from the second-tier Kosdaq market, putting the fate of the

South Korea, China, Japan and their partners in Southeast Asia amended a regional financial safety net on Friday in the latest move to better cope with possible financial crises.The agreement was reached in a meeting of finance and central bank deputies of South Korea, China, Japan and the Association of Southeast Asian Nations in South Korea's southeastern port city of Busan, according to the Ministry of Economy and Finance. ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar,

Foreign currency deposits at South Korean banks rose at the fastest pace in 12 months in November as people increased holdings of the weakening US dollar, central bank data showed Friday.The balance of foreign currency deposits held by local lenders reached $75.05 billion at the end of last month, up $6.94 billion from a month earlier, according to the data by the Bank of Korea. The on-month gain marked the largest since November last year, when foreign savings rose $7.13 billion from the previo

South Korea’s stock market benchmark indexes were moderately higher Thursday on signs of abating trade strife between the United States and China. The top-tier benchmark Kospi inched up 0.6 percent higher than the previous trading day’s close, while the second-tier Kosdaq ticked up 0.8 percent. On the main bourse, foreign investors net purchased shares worth 484.4 billion won ($431.3 million). Domestic institutional investors net sold stocks worth 311.7 billion won, ending a net buyi

Foreign investors turned to net buyers in the South Korean bond market last month amid eased concerns over the US-China trade disputes, the central bank said Wednesday.Foreigners purchased a net $370 million worth of South Korean bonds in November, shifting from a net selling of $230 million in the previous month, according to the Bank of Korea. The November figure also ended their two-month selling mode, which started in September when foreigners dumped a net $1.98 billion.In the stock market,

The money supply in South Korea grew at its fastest pace in 21 months in October on a steady rise in corporate lending, central bank data showed Wednesday.The country's M2 totaled 2,674.5 trillion won ($2.37 trillion) in October, up 6.8 percent from 2,504.6 trillion won a year earlier, according to the data from the Bank of Korea. The on-year gain was the largest since January last year, when it jumped 6.9 percent.The growth rate of South Korea's M2 has remained at the modestly high level of bet

South Korea's financial regulator said Wednesday it will provide more information to help local financial firms make inroads into overseas markets. The information includes the latest regulations and data on financial markets in 32 countries, the Financial Supervisory Service said in a statement.  The FSS also published a report on Vietnam's financial regulations, as part of the government's efforts to bolster ties with Southeast Asian nations. At the end of September, 36 South Korean finan

A listed South Korean golf course operator with a track record of doing business in North Korea hit the price ceiling Tuesday on anticipation that US business guru Jim Rogers had been nominated as the sole candidate to become the company’s outside director. Ananti, listed on second-tier bourse Kosdaq, rose 26.8 percent from Monday’s closing price. It touched the price ceiling at 12,800 won ($11.30), trading 29.8 percent higher, in late afternoon intraday trade. Ananti was the 26th-la

Kyobo Life Insurance, South Korea’s third-largest life insurance firm by total assets, announced Tuesday it would seek an initial public offering by the second half of next year to raise capital in the face of new industrywide regulations to gauge capital requirement.The decision was made during a board of directors’ meeting Tuesday at 11 a.m. in Seoul. The volume of capital it will seek to raise has yet to be determined, the company added.Kyobo will become the sixth life insura

The delinquency rate for South Korean banks' won-denominated loans edged up in October due to a slight rise in the number of firms that failed to repay their debts, government data showed Tuesday.The rate for bank loans more than 30 days overdue stood at 0.58 percent at the end of October, up 0.03 percentage point from a month earlier, according to the data from the Financial Supervisory Service. Compared with a year ago, the rate was up 0.1 percentage point, the FSS said.The delinquency rate fo

The Korea Exchange, South Korea’s sole securities market operator, decided Monday to resume transactions of Samsung BioLogics shares, about a month after the company was slapped with a trading suspension on accusations of accounting misconduct. Following the decision, investors are allowed to trade Samsung BioLogics shares on the main bourse Kospi as per normal starting Tuesday. The KRX said in a release that BioLogics’ improving profitability overshadows concerns about business