KB Kookmin Bank announced on June 14 that it was named the Best Custodian Bank in Asia and Best Custodian Bank in Korea at The Asian Banker Financial Markets Awards 2023, hosted by The Asian Banker.The Best Custodian Bank in Asia was awarded for the first time this year and it went to a domestic ban
Around 800 affluent individuals are projected to emigrate from South Korea this year, doubling the figure from last year. In contrast, the outflow of the rich in China is anticipated to reach 13,500 people.Investment immigration consulting firm Henley & Partners revealed these estimates in its “2023
On June 8, SK innovation's board of directors approved a shareholder agreement to attract investment for SK on. This follows the same pattern as the US$800 million (approximately 1.5 trillion won) limit approved from the MBK consortium on May 24, a contract between SK innovation, SK on, and a ne
Global analyst firm ECA International annually selects the most expensive cities for expatriates by compiling the ECA Index based on the costs of living including currency value and rents.This year, New York topped the list. This is due to inflation and New York’s rising accommodation costs. Hong Ko
Hanwha Ocean (formerly known as Daewoo Shipbuilding & Marine Engineering (DSME)) announced on Jan. 31 that three Russian clients have filed an arbitration with the Singapore International Arbitration Center, claiming damages worth 1.1599 trillion won (US$877.36 million).Hanwha Ocean had previously c
The International Monetary Fund (IMF) has warned of possible corporate debt distresses in Asian countries, singling out Korea as becoming one of the most vulnerable if high interest rates persist.In its report on corporate debt in Asia on May 29, the IMF aggregated by country the percentage of total
In the first quarter, the size of South Korea's household debt surpassed the Gross Domestic Product (GDP). Among the 34 major countries, South Korea was the only one unable to repay all household debt with its annual national income. It was also the sole country among the major economies globall
The Indo-Psacific Economic Framework (IPEF), a U.S.-led economic cooperative formed to counter China, has released its first significant result: a supply chain agreement involving 14 participating countries. The main aspect of this agreement is a joint response by the participating nations to supply
SK bioscience, a global innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company’s CEO, Jaeyong Ahn presented methods for equitable access of vaccine in the world at the Regionalized Vaccine Manufacturing Collaborative (RVMC) Side
The Netherlands’ ASM, the world’s No. 1 semiconductor deposition equipment maker, will ramp up its investment in Korea, one of its main bases, as demand for advanced semiconductors grows. Analysts say that the world’s top four semiconductor equipment makers are rushing to Korea, following the lead o
The author is an analyst for NH Investment & Securities. He can be reached at kyuha.lee@nhqv.com -- Ed.Our NDR with Asian investors confirmed significantly weakened hopes for smartphone demand improvement. But, these lowered expectations are creating a good opportunity to load up on SEMCO shares. Wi
An analysis says that it is necessary to prepare a comprehensive response system for possible spillover risks between crypto assets and the traditional financial system. This is because the global crypto asset market recently revealed vulnerabilities similar to those of traditional financial markets
Korea Western Power (KOWEPO)has officially signed a contract for a solar power project in Manah, Oman.Korea Western Power attended the Oman Manah 500MW Solar Power contract signing ceremony in Oman on the 18th (local time). The event was hosted by the Oman Power and Water Procurement Company (OPWP),
The European Union (EU), currently reviewing the merger of Korean Air and Asiana, has once again expressed a negative opinion.According to Korean Air and other sources on the 18th, the EU Commission released an examination report the day before, stating concerns about price increases and service qua
Global non-life insurers have been entering the Korean market one after another. The Korean insurance market ranks seventh or eighth in the world.Star International Insurance Singapore is expected to target the Korean travel insurance and accident insurance markets beginning from 2024 if it receives
Incheon City's Incheon Free Economic Zone Authority announced on May 17 that it has signed a Memorandum of Understanding for the establishment of Cheongna G-Tech City at the G Tower in Songdo International City.The signing ceremony was attended by Incheon Mayor Yoo Jeong-bok, Incheon Free Econom
Taiwan’s TSMC, the No. 1 global foundry company, is reportedly planning to charge up to 30 percent more for semiconductors manufactured in the United States than those made in Taiwan. It remains to be seen if the prices of Samsung Electronics’ chips will be affected by this move.TSMC will reportedly
SK Geo Centric (“SKGC”) and Loop Industries (“Loop”), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate (“PET”) plastic and polyester fiber, today announced they have signed a definitive Joint Venture Agree
The author is an analyst of NH Investment & Securities. He can be reached at yk.choi@nhqv.com -- Ed.We view recently weak refining margins as excessively reflecting concerns toward slowing demand. We point out that global refinery capacity additions are limited, and exports from China have been on a
Korea Agro-Fisheries & Food Trade Corporation announced on April 25 that 124 South Korean restaurant companies entered 35 overseas markets with 141 brands and 3,833 stores in the second half of last year. Compared to the same period of the previous year, the numbers of companies, brands and stores i