HD Hyundai Heavy Industries (HHI), accused of leaking military secrets, will not receive sanctions, so it will be able to continue to bid in winning maritime defense projects. As a result, the company will be able to take part in a tender for the construction of the Korea Destroyer KDDX, which will
The government has extended its support to companies starting businesses overseas, aiming to increase the number of successful Korean startups in the global market. The Ministry of SMEs and Startups announced that amendments to the “Act on Support for Small and Medium Enterprise Establishment” and i
The criticism against Chinese e-commerce companies, which aggressively enter the domestic market with ultra-low prices, is growing due to their disregard for relevant laws while operating within the country. There are numerous complaints about these companies consistently sending advertisements that
Samsung has not officially responded to the news that prosecutors are appealing the court’s decision to acquit Samsung Electronics Chairman Lee Jae-yong. However, there’s an atmosphere of tension as the reality of him not yet being free from legal risks looms.The Seoul Central District Prosecutors’
The global leading automotive company Toyota, which has been embroiled in a “quality certification fraud” scandal, announced a record-breaking net profit of 4.5 trillion yen, equivalent to 40.2 trillion won or US$30.28 billion, for the fiscal year 2023, spanning from April 2023 to March 2024. The pr
The police have referred individuals connected to Fidelis Asset Management, including its CEO, who are under suspicion for the improper sale of the “Fidelis Fund,” to the prosecution.The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency announced that three individuals, incl
The majority of Chinese companies listed on the South Korean stock market have experienced a sharp decline in their stock prices over the past year. This is attributed to the economic downturn in China last year, which worsened investor sentiment towards Chinese companies coupled with accumulated di
The National Tax Service (NTS) announced on Dec. 28 that it has collected 1.35 trillion won (US$1.05 billion) in tax assessments in the area of overseas tax evasion alone through tax investigations conducted this year. The figure exceeds the average annual collection for the three years before the C
Prosecutors have demanded a five-year prison sentence and a 500 million won (US$386,581) fine for Lee Jae-yong, chairman of Samsung Electronics, indicted on charges of unfairly intervening in the merger of Samsung C&T and Cheil Industries to facilitate a succession of managerial power.At the final h
The Financial Supervisory Service (FSS) is launching a comprehensive investigation into related securities firms to gather more precise information and evidence regarding the suspected preferential redemption of the “Lime Fund.” Amid allegations that funds were returned only to certain influential f
There is no sign of an end in the aftermath of the suspension of deposits and withdrawals at Haru Invest, a Korean cryptocurrency management company. Delio, considered to be number one in the Korean cryptocurrency industry, suspended withdrawals, prompting investors to file a criminal class action s
Hanwha Group has recently disposed of all its stakes in Nikola Motor, an American hydrogen electric vehicle company that is in danger of being delisted.According to the Financial Supervisory Service's electronic disclosure system on June 5, Hanwha Solutions reported in its security report on May
For the first time since the enactment of the Act on Reporting and Using Specified Financial Transaction Information, a bill related to virtual assets (cryptocurrencies) has passed the National Policy Committee of the National Assembly.On May 11, the National Policy Committee voted to pass the Virtu
Hankook Tire & Technology, affiliate of Hankook & Company Group (formerly Hankook Tire Group), announced its participation as a KRW 3 billion pre-Series A investor of used car e-commerce platform 'CARMERCE'. The investment contract was signed at Hankook & Company’s headquarter, 'Technopl
The Seoul Southern District Prosecutors' Office is investigating cryptocurrency exchange Bithumb.According to industry sources, the investigation has to do with market manipulation allegations and the investigation targets include domestic cryptocurrencies such as GOM2 and PXL.On Jan. 25, the pr
Industrial Bank of Korea (IBK) announced on Dec. 8 that the U.S. Federal Reserve Board has terminated an enforcement action against it over previous deficiencies in its risk management and anti-money laundering compliance.The bank signed an agreement with the Federal Reserve Bank of New York and the
U.S. virtual asset exchange FTX is reportedly in talks to acquire Bithumb, the second-largest virtual asset exchange in Korea. Yet, sources informed in the matter say that the deal may be hampered by legal risks involving Lee Jung-hoon, the former chairman of Bithumb Holdings who is on trial for fra
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Hyundai M&F’s 2Q22 earnings are forecast to surpass consensus, despite the likely reflection of ERP-related one-off costs. We adhere to Hyundai M&F as our sector top pick, expecting that the firm’s e
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. In 2Q22, combined ratio at DB Insurance should arrive at the sound level of 99.6%, holding steady from 1Q22. Going forward, the firm’s robust earnings and strong dividends are to enjoy increasing att
Samsung Electronics vice chairman Lee Jae-yong will not attend a trial scheduled for May 20 to guide U.S. President Joe Biden's tour of Samsung Electronics' semiconductor plant in Pyeongtaek, Gyeonggi Province.On May 19, the Seoul Central District Court decided to proceed with the trial in L