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[Finance] SK Telecom and Hana Financial Group Establish Joint Venture for Fintech Business
SK Telecom today announced that it has entered into a joint venture agreement with Hana Financial Group to promote the fintech business.Under the agreement, SK Telecom will hold a 49 percent equity stake in the joint venture, with Hana Financial Group holding the remaining 51 percent. The two compan
Whowired News Team   2016-08-19
[Stock] Samsung Electronics announces shareholder return plan
Samsung Electronics announced a special shareholder return initiative program including share buyback and cancellation of 11.3 trillion won, which is equivalent to USD 10 billion.The Board approved 4.2 trillion won for the first phase of buyback program. It will start on October 30 and last for appr
Whowired News Team   2015-10-29
[Stock] LG tops in category in this year S&P Dow Jones Sustainability Index
S&P Dow Jones Indices and investment specialist RobecoSAM, which focuses exclusively on sustainability investing, today announced the results of the annual Dow Jones Sustainability Indices (DJSI) review.LG was once again named the top company in the DJSI셲 Consumer Durables & Apparel Industry Group,
Whowired News Team   2015-09-15
[Business] Daum Kakao topped the list of average annual salary among ventures with 174 million won
Last year셲 average annual salary of South Korea셲 top 30 venture companies by sales was 53.3 million won ($46,700), and Daum Kakao topped the list with 174.9 million won ($153,700) according to research data compiled by Saramin.Daum Kakao셲 average annual salary in 2014 was even higher than that of
Whowired News Team   2015-07-14
[Business] US Hedge Fund filed a court injunction to block Cheil셲 acquisition of Samsung C&T
Elliot Management, a US activist hedge fund, said on Tuesday that it filed a court injunction to block Samsung Group from the proposed merger of its two key affiliates Cheil Industries and Samsung C&T.Elliott said on Tuesday that it filed for an injunction with the Seoul Central District Court to bl
Whowired News Team   2015-06-10
[Stock] Cheil Industries takeover plan for Samsung C&T challenged by US hedge fund
Elliott Management, a US activist hedge fund with $26 billion in assets under management, is poised to challenge against Cheil Industries proposed takeover of Samsung C&T.Elliott announced in a statement on Thursday that it has acquired a 7.11% stake or 11.12 million shares in Samsung C&T for the pu
Whowired News Team   2015-06-04
[Business] Samsung Electronics denies its merger rumor with Samsung SDS
Samsung Electronics dismissed the rumor of its merger with Samsung SDS. Samsung Electronics Senior Managing Director Lee Myung-jin said at the investor forum at Shilla Hotel that it has no plan to merge with Samsung SDS. He made it clear that he hopes his remarks have successfully delivered its mana
Jeansun Kim   2015-06-04
[Business] Daum Kakao to acquire a top three SNS 쏱ath in Indonesia
Daum Kakao announced on May 29 that it will acquire a major SNS Path and Path Talk. Path is one of the top three SNS in Indonesia along with Facebook and Instagram as it doubled in terms of its growth rate to secure over 10 million of monthly active users(MAU) in the area. The newly acquired company
Jeansun Kim   2015-05-29
[Business] Samsung not considering the merger between Samsung Electronics and Samsung SDS
Samsung Group has not been considering the possible merger between Samsung Electronics and Samsung SDS, a local report said on Thursday.A day before, on Wednesday, Nomura Securities released a report that there is a high possibility that Samsung Electronics will be merged with Samsung SDS in an effo
Whowired News Team   2015-05-28
[Stock] Paper securities to give way to electronic securities in 2019
Securities will be issued electronically in 2019 when the new electronic registration system is introduced. The Financial Supervisory Service announced on May 21 that it will introduce an electronic securities system to strengthen the grounding for FinTech and prevent the fraud risks of paper-based
Jeansun Kim   2015-05-21
[Stock] POSCO posts investment margin rates of 350% after the selloff of its Australian copper mine
POSCO started selling off its non-core overseas assets in an effort to improve on its financial solidarity. POSCO announced on May 21 that it sold off the entire stake of 15.2% (23.75 million shares) in Australian copper mining company Sandfire Resources at 5.43 AUD per share for 130 million AUD (or
Liz Kim   2015-05-21
[Business] Samsung Electronics invest 10 billion won in Chinese chip fund
Samsung Electronics invests in Chinese chip venture company to strengthen its competitiveness. According to its quarterly report on May 21, Samsung Electronics raised a fund for Beijing Semiconductor International Fund and added it as a subsidiary with a 10 billion won investment. Beijing Fund is th
Jeansun Kim   2015-05-21
[Stock] Market circuit breaker widened to 30% from June 15th
Market circuit breaker will be widened from a single day decline of 10% to 30% to facilitate the stock market from the 15th next month. Seoul's main bourse announced the new policy that comes into effect on June 15 with the safety check of investor protection. The market circuit breaker will be
Jeansun Kim   2015-05-19
[Business] Daum Kakao to acquire GPS navigation company LOC&ALL at 62.6 billion won
Daum Kakao announced on May 19 that it will acquire smartphone navigation mobile app company LOCK&ALL better known for its major hit product 쏞hauffeur Mr. Kim for 62.6 billion won. The final approval will be decided at the board meetings before LOC&ALL becomes a wholly owned subsidiary.Daum Kakao
Liz Kim   2015-05-19
[Stock] New bio stocks entered into top-ten stock list on KOSDAQ as game stocks slip
Some bio stocks were newly entered into the top-ten stock ranking list by market value on the KOSDAQ as big-name game and entertainment stocks slipped out of the list.According to financial information provider WISEfn, as of March 14, four out of the top ten stocks by market capitalization on the KO
Whowired News Team   2015-05-14
[Stock] Daum Kakao posts 1Q operating profit at 40.4 billion won, down by 20% YoY
Daum Kakao posted its 1Q operating profit at 40.4 billion won down by 20% from a year earlier. The sales rose by 19% to 234.4 billion won and its current net profit dropped by 23% to 30.8 billion won. When broken down by platforms, ad revenue went up by 10% to 141.8 billion won, followed by games sa
Jeansun Kim   2015-05-14
[Stock] Morgan Stanley losing a max 20 billion won on Natural Endotech scandal
American investment company Morgan Stanley purchased a block of stock in Natural Endotech only tolose a maximum 20 billion won due to an abrupt drop. According to the FSS electronic declaration system on May 7, Morgan Stanley Investment Management holds 579,488 shares in Natural Endotech through its
Jeansun Kim   2015-05-07
[Stock] Kosdaq drops by over 5% during midday trade hit by Natural Endotech
Kosdaq fell by over 5% after rallying for several days, and hit by foreign sell-off and externalities of Natural Endotech on the afternoon of April 22. Kosdaq rallied to 720.56 in the morning and started nose-diving in the afternoon. At 2PM, it went down to 680 points and bounced back. At 1:30PM, th
Liz Kim   2015-04-22
[Finance] Master Card releases digital wallet 쁌aster Pass in Korea
Master Card announced on April 21 that it has released the digital wallet 쁌aster Pass for credit cards app card and petty money settlement via Shinhan Card. Previously those app cards and money settlement services were not available abroad but with the Master Pass connected, consumers can now enj
Jeansun Kim   2015-04-21
[Business] SK C&C and SK to merge for better corporate governance
The boards of SK C&C and SK decided to merge the two companies on April 20 to garner future growth engine and innovate their corporate governance while improving shareholder value. SK C&C and SK will merge at 1 to 0.74 ratios. SK C&C will issue new shares to exchange them with SK stock for the merge
Jeansun Kim   2015-04-20
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