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Monday, May 01, 2017

Money

The cash and cash equivalents of the KOSPI-listed subsidiaries of the four largest business groups in South Korea have been increasing.
Cash Reserved
27 April 2017 - 6:30pm
The Financial Supervisory Service announced on April 26 that the cash and cash equivalents of the KOSPI-listed subsidiaries of the four largest business groups in South Korea increased from 143.1180...
The equity capital of Mirae Asset Daewoo, the largest in South Korea, stood at 6.7 trillion won (US$6.0 billion) last year while Goldman Sachs and Morgan Stanley had an equity capital of around US$90 billion in 2015.
No way for Growth
24 April 2017 - 11:15am
Large South Korean investment banks are to be launched in June this year. Still, securities companies are expressing concerns that various regulations will hinder their transformation in the end....
From left, Jung Sung-ho, a senior director of KB Kookmin Card and Jay Yun, CEO of UMS, Lee Nam-hong, director of KB Kookmin Card are posing for a photo at the head office of KB Kookmin Card in Seoul on April 18.
KB Digital Lab
20 April 2017 - 11:45am
The KB Financial Group will establish KB Digital Lab to push forward with various fintech businesses with global start-ups in the United States. The decision was made after Yoon Jong-kyu, chairman of...
Koo Sung-hoon (right), CEO of Samsung Asset Management and Brett Himbury, CEO of IFM Partners pose for a photo after signing an agreement on operating the “ Samsung-IFM Global Infra PEF Investment Trust” at Hotel Shilla in Seoul April 19.
Global Infra Fund
20 April 2017 - 11:15am
Samsung Asset Management said on April 19 that it would team up with Australia based-IFM Investors to raise a US$480 million worth private equity fund (PEF) designed to invest in infrastructure...
Korea was the third-lowest country with the tax burden ratio to GDP of 18.0% in 2014, following Mexico with 12.0% and Slovakia with 17.9%.
Lowest among OECD Countries
17 April 2017 - 11:00am
South Korea's tax burden remains in a lowest level among OECD countries. The Korea’s tax burden rate, which is the ratio of taxes including the national tax and the local tax to the gross domestic...
Financial Services Commission Chairman Yim Jong-yong (right) speeches at a meeting to discuss the corporate restructuring with heads of commercial banks in the government complex in Seoul on April 13.
Market-friendly Policy
14 April 2017 - 10:45am
The Financial Services Commission (FSC) held a meeting with commercial banks in Seoul on April 13 and adopted new corporate restructuring guidelines, which are characterized by corporate...
Citibank Korea will significantly slash its number of branches to 25 from 126 nationwide this year.
Reduction of Bank Branches
13 April 2017 - 4:30pm
It has been known that Citibank Korea will significantly slash its number of branches to 25 from 126 nationwide this year. When the downsizing plan is implemented, it will leave just 21 branches in...
The inauguration ceremony for the KB Foreign Customer Panel.
Customer Panel in Banking
13 April 2017 - 12:00pm
KB Kookmin Bank announced on April 12 that it held the opening ceremony of the first "KB Foreign Customer Panel" composed of foreign customers at its head office in Myeong-dong, Seoul. The KB Foreign...
The National Pension Service (NPS) was investing in 290 Korean companies as of the end of 2015.
Flexibility Needed
13 April 2017 - 10:45am
The National Pension Service (NPS) of Korea recorded a total asset of no less than 561 trillion won at the end of January this year, when 18.9% of the amount was in the South Korean stock market. The...
Outstanding household loans, as of the end of March, stood at 713.9 trillion won (US$642 billion), up 2.9 trillion won (US$2.6 million) in a month.
Brakes Not Working
12 April 2017 - 3:30pm
It is not working to put the brakes on the household loans despite the Korean government’s measures to raise the interest rates and strengthen the qualification for loans. The increase in household...
The total year-end dividend of Korean companies listed on the benchmark KOSPI surpassed a 20 trillion won (US$18 billion) last year.
Record-high Dividends
12 April 2017 - 10:30am
The total year-end dividend of South Korean companies listed on the benchmark Korea Composite Stock Price Index (KOSPI) surpassed a 20 trillion won milestone for the first time last year. Seven out...
The corporate taxes paid by foreign companies decreased nearly 3 trillion won (US$2.64 billion) in the past three years, though the South Korean government shows an increase in tax revenue.
Foreign-invested Corporate Taxes
10 April 2017 - 1:45pm
Although the South Korean government shows an increase in tax revenue, the corporate taxes paid by foreign companies decreased nearly 3 trillion won (US$2.64 billion) in the past three years....

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