In the ranking of the “Global 1000 Banks” published by the U.K. financial journal “The Banker,” which aggregates the performance of the previous year, six domestic banks, or financial groups, including KB Financial, Shinhan Financial, Korea Development Bank (KDB), Hana Financial, Woori Financial, an
Harim, Dongwon, and the LX Group have actively joined the acquisition battle for HMM. Hapag-Lloyd, the largest shipping and container transportation company in Germany, is also participating in the preliminary bidding.According to the investment banking (IB) industry on Aug. 21, Korea Development Ba
Hapag-Lloyd, based in Germany and the fifth-largest shipping company in the world, is currently considering participating in the acquisition bid for Hyundai Merchant Marine (HMM), the largest shipping company in South Korea, which is currently offering a sale.According to investment banking (IB) ind
The cargo business has become one of the variables in the merger of Korean Air and Asiana Airlines entering the home stretch. It remains to be seen if Korean Air’s high-stakes tactic of offering cargo planes to its rivals will be enough to satisfy overseas competition authorities.According to indust
Korea Development Bank (KDB), which has been pushing for the merger of Korean Air and Asiana Airlines, has started reviewing alternatives such as the sale to a third party, assuming the failure of the merger process. This move is interpreted as the initiation of “Plan B” after the merger between the
Korea Development Bank (KDB) is set to start the process of selling its controlling stake in HMM, a deal that is anticipated to be one of the largest M&A transactions in the market, possibly worth up to 5 trillion won.KDB Bank announced on July 20 that they have issued a public competitive bid for t
Country-specific lending limits at export credit agencies (ECAs) such as the Export-Import Bank of Korea (Korea Eximbank) and Korea Trade Insurance Corporation have emerged as a variable in finance for Korean defense exports. Korea exported 17 trillion won (US$17 billion) worth of defense goods to P
Although Daewoo Shipbuilding & Marine Engineering (DSME) was sold off to Hanwha Group last year, approval from the Fair Trade Commission is being delayed due to opposition from a competitor which is not a foreign company but HD Hyundai Heavy Industries, a Korean company.After Hanwha Group reported t
A total of 19 insurance companies, more than one-third of the total, asked the Financial Supervisory Service to postpone the implementation of the Korea Insurance Capital Standard (K-ICS). The ratio is over 50 percent when it comes to life insurance companies. The standard is for soundness assessmen
Korea Development Bank (KDB) has begun the process of selling management rights to HMM, an oceangoing Korean shipping company. It is seven years since the state-run bank took over the management rights to the company in a liquidity crisis from Hyundai Group in 2016.KDB announced on March 2 that it w
Pluglink, an electric vehicle (EV) charging platform, announced on Feb. 7 that it signed an investment agreement with KDB KIAMCO, the largest alternative asset manager in Korea, for a total of 15 billion won for EV charger assets.Pluglink, acknowledged for its specialty in finance, introduced altern
The GM Korea (GM) labor union will meet with lawmakers to discuss Korea Development Bank (KDB)’s reported plan to sell off its stake in GM Korea.The union's leaders will hold a meeting with members of the National Assembly's Trade, Industry, Energy, SMES and Startups Committee around the mid
Heungkuk Life Insurance failed in US$500 million early bond redemption scheduled for Nov. 9. This is the first time since 2009 that a South Korean financial institution failed in an early redemption of foreign currency bonds.Investors’ concerns are increasing rapidly. The company attempted at US$300
The financial authorities are failing to sell MG Non-Life Insurance and KDB Life Insurance.The Korea Deposit Insurance Corp. is planning to choose a company to be in charge of selling MG Non-Life Insurance after Oct. 21 and then announce the bid within this year.MG Non-Life Insurance has been under
A strong dollar is threatening to push Asiana Airlines into complete capital erosion. As the struggling airline has a huge dollar-denominated debt, it is suffering a large foreign exchange loss due to the rising value of the U.S. greenback.Asiana Airlines posted record-breaking operating profit this
Since 2015, 4.1 trillion won in Korean taxpayers’ money has been put into Daewoo Shipbuilding and Marine Engineering (DSME) to keep the ailing company afloat, but it will be sold off to Hanwha Group for no more than two trillion won, which is less than half of the public money spent on it.In particu
Daewoo Shipbuilding & Marine Engineering (DSME) will be sold to Hanwha Group.The Korea Development Bank (KDB) announced on Sept. 26 that it will sell part of its stake in DSME to Hanwha Group for about 2 trillion won. After the sale, KDB's stake will be lowered from 55.7 percent to 28.2 percentT
Subcontract workers’ strike at Daewoo Shipbuilding & Marine Engineering (DSME) has ended. With huge business losses caused by the strike, how to bring the company back to normal is being discussed again. According to many experts, to sell it as a whole is the best option for blocking further losses
LG Chem is pushing for the issuance of foreign currency bonds worth up to US$1 billion. The company reportedly plans to use the raised funds to invest in carbon dioxide emissions reduction facilities and build production processes using eco-friendly raw materials.The company has recently selected Ba
HMM, the largest container carrier in South Korea, posted an operating profit of no less than 7.3775 trillion won last year, getting out of its 10-year slump at once. The state-run Korea Development Bank has been the owner of the company for six years, and the operating profit means that the bank