Shinhan Bank announced on July 22 that it signed an agreement with Samjong KPMG on July 21 to jointly provide services to companies that attract foreign investment or make overseas investment.The agreement was aimed at providing financial, accounting, tax and consulting services to companies that at
GS Caltex’s US$300 million eurobonds have attracted approximately US$2.5 billion worth of subscriptions. The interest rate of the bonds is the lowest among those of South Korean private-sector companies and is 1.425 percentage points higher than that of the U.S. Treasury bond of the same maturity.Th
The authors are analysts of Shinhan Investment Corp. They can be reached at sh.kim@shinhan.com and jongseon@shinhan.com. -- Ed. 2Q20NP of controlling interests exceeds consensus at KRW981.8bn (-0.9% YoY)KB Financial Group’s 2Q20 net profit of controlling interests came in at KRW981.8bn, far exceedin
Both individuals and enterprises are increasing their demand for the U.S. dollar as economic uncertainties increase.The Bank of Korea announced on July 22 that the foreign currency deposits of residents added up to US$84.53 billion at the end of last month, up US$3.61 billion from a month earlier. T
The value of settlement for foreign currency stocks purchased by domestic investors tripled in the first half of the year compared with six months ago due to their love of U.S. stocks. Eighty-eight percent of the stocks bought by Korean individual investors were U.S. stocks. They bought 4,818.8 bill
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Considering its solid fundamentals and strong shareholder return policy, we believe that Tongyang’s shares have limited downside risk. However, a meaningful improvement in valuations will require an
Ed Smith is a quest author. He can be reached at Simon@eleven-tenths.com. -- Ed.In many ways, South Asia nations such as South Korea are now synonymous with the forex market, with the region as a whole now accounting for nearly 20% of total trading volumesIt is also inarguable that the foreign excha
A revised agreement of the Chiang Mai Initiative Multilateralization (CMIM) became effective on June 23.The CMIM is a multilateral currency swap agreement of the ASEAN, South Korea, China and Japan. In the CMIM, South Korea can withdraw US$38.4 billion when there is a sign of a financial or currency
Hong Kong has been chosen as the world’s most expensive city for expats to live and work for three consecutive years. Seoul was ranked 11th in this year’s survey, seven notches down from fourth in 2019.The survey was conducted by Mercer, a consulting company, for 209 cities around the world in March
Shinhan Bank and Hana Bank have signed an agreement with the African Export-Import Bank (Afreximbank) to participate in a US$1 billion (1.2 trillion won) syndicated loan.The two banks’ joint participation in a syndicated loan is the first case of cooperation between Shinhan Financial Group and Hana
Consumers will be able to receive exchanged foreign currencies at home via parcel delivery service or at parking lots. Also, consumers will be allowed to withdraw money transferred from overseas via automated teller machine (ATM) at any time of the day.Deputy Prime Minister and Finance Minister Hong
The Bank of Korea announced on June 3 that South Korea’s foreign exchange reserves increased by US$3.33 billion to US$407.31 billion last month. The reserves, which showed a significant decrease in March in the wake of the spread of COVID-19, rebounded in April and continued to increase last month.M
South Korean securities companies’ assets have more than tripled in years based on financial deregulation and the government’s policy for investment banking growth acceleration. The increase in assets has come with expanded derivatives-linked securities (DLS) and shadow banking in the real estate se
Treatments for genetic diseases worth about US$500,000 were air shipped to Iran on May 29 as the first case of the export of humanitarian goods to Iran that resumed on April 6, the Ministry of Foreign Affairs said on May 29.The South Korean government continued close consultations with the United St
Korea Development Bank said on May 28 that it has raised US$1 billion by issuing dollar-denominated Eurobonds to Asian and European investors.The bonds are five-year fixed-rate bonds. The bank will extend the money raised through the bond issuance to Korean companies that have been suffering from th
The Bank of Korea cut the key rate by 0.25 percentage point on May 28. As a result, the interest rate reflecting the rate of inflation, 0.3 percent to 0.6 percent, has become zero.Since the central bank cut the key rate two months ago, the market liquidity has increased a lot and the South Korean go
Samsung Electronics has introduced a standalone turnkey security solution for mobile devices to offer protection for tasks such as booting, isolated storage, mobile payment and other applications.The solution consists of a tiny Secure Element (SE) chip (S3FV9RR) and enhanced security software. The s
South Korean depository institutions’ external debts totaled 271,346.9 billion won in the first quarter of this year, up 7 percent from the previous quarter and up 11 percent from a year ago. In addition, the debts increased by approximately 20 percent compared to two years ago. In that quarter, the
The Export-Import Bank of Korea (KEXIM) announced on May 21 that it successfully raised 700 million Australian dollars (US$460 million) on May 20 by issuing kangaroo bonds, which are Australian dollar-denominated bonds issued by a foreign institution in the Australian market.The kangaroo bonds were
The Bank of Korea announced on May 20 that residents’ foreign currency deposits in foreign exchange banks increased by US$2.89 billion to US$78.18 billion last month.Early this year, the foreign currency deposits decreased US$4.46 billion in January and US$6.47 billion in February for foreign exchan