Government may launch fresh round of bidding process to find investorMBK Partners submitted a preliminary bid for a stake in Woori Financial Group on Wednesday, becoming the sole bidder among the three potential private equity funds.The other two contenders ― Vogo Fund and T-Stone ― dropped out of t

Korea’s four major financial groups have been paying high dividends to shareholders compared to those paid by other listed companies, financial industry data showed Thursday.As foreigners account for a great portion of their shareholding structure, there has been anxiety over a capital flight in the

A group of analysts have predicted that the stock market, hit by the fiscal woes in Europe and the United States, will stabilize in the near future.They shared the opinion that the possibility of the U.S. economy falling into a double-dip recession is not so high.“Though the U.S. will experience a s

The Financial Supervisory Service recently conducted an on-the-spot probe into Shinhan Bank and Industrial Bank of Korea over their allegedly irregular lending practices.The regulatory body looked into their loan-related documents by dispatching a group of inspectors to the headquarters of the two b

LONDON (AP) -- Police investigating phone hacking and police bribery at defunct British tabloid News of the World on Tuesday arrested a man, believed to be a former executive at the newspaper.The Metropolitan Police said a 71-year-old man had been arrested by appointment Tuesday morning at a Lo

One of South Korea's most treasured relics was damaged during the heaviest downpours in decades last week, government officials said Tuesday.Some parts of the roof ridge of Dongdaemun (Great East Gate) chipped off due to the record-breaking rainfall that killed 62 and left thousands homeless in Seou

South Korea's spy agency has sent summons to several members of a radical labor umbrella group over suspicions of their involvement in an alleged espionage case, sources said Tuesday.According to prosecution and labor group officials, the National Intelligence Service asked about 10 officials of the

South Korea acknowledged Tuesday that 55 people were abducted by North Korea during the Korean War six decades ago, marking the first official recognition of kidnap victims.The announcement, intended to disclose the truth about kidnap victims during the 1950-53 war and restore their honor, came near

Samsung Electronics Co. said Tuesday that it will release the new version of its Galaxy Tab tablet computer in Australia this month as scheduled, denying media reports that Apple Inc.'s lawsuit has prompted the Korean company to postpone sales there."The Galaxy Tab 10.1 model for the Australian mark

FSS says scrutiny includes banking unit’s lending to Lone StarThe Financial Supervisory Service is probing Hana Financial Group and Hana Bank over several key issues including their loans totaling 1.5 trillion won ($1.42 billion) to U.S.-based Lone Star Funds, officials said on Monday.The other issu

FSS predicts about 200 officials to gather in Seoul in late SeptemberKorea’s financial authorities are making their dispositions as the chair of one of the world’s three major regulatory meetings, slated for Sept. 29-Oct. 1 in Seoul. This is the first time that the nation will host the annual conference of the International Association of Insurance Supervisors, which will mark the 18th gathering s