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ICC prosecutor seeks arrest warrant for Israeli and Hamas leaders, including Netanyahu
Iran mourns president Raisi's death in helicopter crash
South Korea bans viral North Korea propaganda video praising Kim
7 contemporary Korean dance groups to tour Hungary, US
Taiwan's new President Lai in his inauguration speech urges China to stop its military intimidation
Bucheon Fantastic Film Fest to revisit Son Ye-jin’s career
Foreign holdings of top 4 Korean finance giants hit record high
S. Korea expresses condolences over death of Iranian president
AI Seoul Summit to discuss ways to make AI equitable in Global South
[Today’s K-pop] Seventeen to launch new subunit duo
Korea's increasing US investment mutually beneficial: report
'NewJeans is the biggest victim in Hybe-Ador feud,' music critic
'K-Respect Day' to promote cultural understanding, combat hate speech
Seoul bans bee-toxic pesticides in parks, roadside trees
XR partnership between LG, Meta falls through
Seoul shares close higher on tech, auto gains
Sejong Center's Sync Next aims to attract new audiences
Iranian President Raisi: Hard-liner on morality, protests, nuclear talks
Hermes celebrates craftsmanship
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Hyundai Capital Bank Europe inks deal to control German lender
Feb 23, 2020
Hyundai Capital said Sunday that its German subsidiary has become the largest shareholder in a local lender, in an extended move to enhance the group’s mobility strategy. Hyundai Capital Bank Europe GmbH has signed an agreement with German car rental service provider Sixt SE to acquire 8.64 million shares, or a 41.9 percent stake, in Sixt Leasing SE for 155.6 million euros ($168 million). After the due regulatory clearance procedure is completed in both Europe and Korea, HCBE will gain a
Early-stage VC Bass Investment closes new W37.7b vehicle
Feb 23, 2020
South Korea’s early-stage venture capital house Bass Investment said it had closed its second fund worth 37.7 billion won ($31.1 million) last week, in the latest addition to its initial 28.6 billion won fund. The new vehicle’s backers include K Cube Holdings, Com2uS, as well as ex-entrepreneurs -- including Chang Won-gui, founder of secondhand marketplace Bungae Jangteo who exited from the firm in January. No state fund has joined as its limited partner. The fund will “not
KCGI slams KAL owner family for losses, rules out heiress' return to management
Feb 20, 2020
Hanjin KAL refutes, alliance’s scheme of taking boardroom is arrangement for her return
IMM PE in talks to buy Kolmar Korea’s pharma operations, CMO
Feb 20, 2020
IMM Private Equity is conducting due diligence as it looks to buy some of the operations of cosmetics-to-pharmaceutical business group Kolmar Korea, according to Kolmar Korea on Thursday. The South Korean investment house is proposing to buy Kolmar Korea Holdings’ contract manufacturing subsidiary Kolmar Pharma and Kolmar Korea’s pharmaceutical division, except for CJ Healthcare. They are roughly valued at a combined 750 billion won ($628.6 million). Kolmar Korea sa
Fiscal chief seeks to boost spending amid COVID-19 fallout
Feb 19, 2020
Minister urges people ‘eat out more’ to help struggling restaurants
Prosecutors raid Lime, Shinhan Investment in misselling probe
Feb 19, 2020
FSS says nearly half of troubled funds sold through commercial banks
Hahn & Co. to cash out W27.4b in sale of Ssangyong I&C
Feb 19, 2020
Seoul-based private equity house Hahn & Co. on Wednesday agreed to sell its 40 percent stake in IT system integrator Ssangyong Information & Communications for 27.4 billion won ($23 million) by April, in a move to offload noncore businesses of its portfolio firm Ssangyong Cement Industrial. According to regulatory filings Wednesday, the new shareholder group, composed of information technology system integrator Itcen and its affiliate Comtec Systems, will buy the stake for 1,695 won per
Jeonbuk Bank’s Cambodian subsidiary posts record-high net profit in 2019
Feb 18, 2020
Jeonbuk Bank’s Cambodian subsidiary logged record-high annual net profit last year, marking it as one of the most successful Korean banks operating in the Southeast Asian country, the bank’s holding group JB Financial said Tuesday. Phnom Penh Commercial Bank’s net profit for fiscal 2019 jumped 40.5 percent on-year to 20.7 billion won ($17.4 million), according to JB Financial. PPC Bank was the only commercial lender in Cambodia to post an annual net profit of over 20 billio
KB Card launches debit card featuring Pengsoo
Feb 17, 2020
Credit card issuer KB Card said Monday that it has rolled out a debit card featuring Pengsoo, a popular penguin character. The newly launched card comes in two designs — one with Pengsoo saying “Peng-ca,” and the other with the character trying out different fashion items. Peng-ca comes from the giant penguin’s signature line, “Peng-ha,” meaning “Pengsoo says hi.” As part of its marketing efforts, KB Card will give out stickers of the character
Bithumb agrees partnership with Chinese peer BitMax
Feb 17, 2020
South Korean cryptocurrency exchange Bithumb said Monday that it had signed a memorandum of understanding with Chinese crypto exchange firm BitMax to roll out new crypto services and to tap into global markets together. They also agreed to jointly develop blockchain and cryptocurrency technologies and infrastructure. Founded in 2018 by CEO George Chao, Bitmax has attracted a number of Wall Street financial engineers who used to work for global financial firms, such as Barclays and Deutsche
NHN‘s Payco available on Apple platforms
Feb 17, 2020
Internet services provider NHN said Monday that its easy-to-use mobile payment service Payco was now available on US tech giant Apple’s platforms, including Apple Store, Apple Music and iCloud. Under the partnership, users can simply link their Payco accounts with their Apple ones via the Apple ID settings, the company said. Once their payment data is registered on one of their Apple devices, Payco subscribers can make online purchases across different iOS-powered gadgets, including t
Lime investors face tough compensation fight
Feb 17, 2020
Investors in beleaguered hedge fund Lime Asset Management are facing a bumpy road to get compensation for their losses. By no later than Friday, every investor in the hedge fund is expected to find out their confirmed individual losses in their combined 1.7 trillion-won ($1.4 billion) investment made under the convoluted master-feeder fund structure -- involving four master funds and 173 feeder funds as of end-2019. The losses of Lime Asset’s feeder funds may vary, but in some cases be
Hana Bank starts mobile banking service in Hong Kong
Feb 17, 2020
Hana Bank said Monday that it will launch its global mobile banking service in Hong Kong, making it the first Korean lender to provide such service in the global financial hub. The Global 1Q app will be available for use in Hong Kong now in addition to countries that include Canada, China, Japan, Indonesia, Brazil, Panama and Vietnam. The service was launched in Canada in 2015. The app automatically recognizes the country of the user’s current location, allowing easy access to the ser
Woori Bank merges two Cambodian subsidiaries
Feb 16, 2020
South Korea’s Woori Bank said Sunday it recently merged two of its Cambodian subsidiaries in an effort to provide comprehensive financial services in the Southeast Asian nation. According to the commercial lender, Cambodian financial authorities approved the merger of Woori Finance Cambodia and WB Finance earlier this month. WB Finance is the surviving entity. Woori Finance Cambodia was established after Woori acquired Cambodia’s microfinance institution Malis Finance for 5 billi
Lime Asset deliberately deceived investors in awareness of losses: FSS
Feb 14, 2020
South Korean fund operator Lime Asset Management and its seller Shinhan Investment deliberately duped investors by concealing their losses and continuing the sale of the related products, the watchdog Financial Supervisory Service said Friday. Based on an intermediary inspection and accounting audit, the FSS estimated that two of the disputed parent funds may suffer losses of up to 730 billion won ($617.5 million). Considering other parent funds yet under inspection, the total amount of investo
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