South Korean manufacturers’ investment in China, Vietnam and the United States soared by 76.5 percent in one year for their response to trade protectionism and more cooperation with global companies.According to KDB Future Strategy Research Institute, their reported investment in the three countries
South Korea’s state-run Korea Development Bank (KDB) has officially kicked off a sale process for KDB Life Insurance, formerly Kumho Life. Private equity funds at home and abroad or financial groups which do not own life insurance companies, such as KB Financial Group and Woori Financial Group, are
The number of management participation-type private equity funds (PEFs) surpassed 600 this year, with total capital commitments exceeding 80 trillion won (US$67.06 billion).The number of PEFs stood at 636 as of the end of June this year, up 53 from 583 at the end of last year, according to the Finan
Korea Development Bank (KDB) has issued 700 million Australian dollars (US$475.23 million or 574 billion won) worth of kangaroo bonds in the Australian bond market.The state-run bank announced on Aug. 21 that it succeeded in issuing large-scale kangaroo bonds at low interest rates on Aug. 20 despite
Korea Development Bank (KDB) said on Aug. 19 that South Korea’s appropriate benchmark rate for the second quarter of this year is 0.9 percent and the Bank of Korea is expected to lower the rate twice before the end of next year.KDB explained that it estimated the appropriate benchmark rate based on
GM Korea Co., the South Korean unit of General Motors Corp., has halved the number of foreign executives since the launch of a massive restructuring drive last year. The company is also planning to carry out an early retirement program for its 100 Korean executives due to the labor union’s request f
Financial Services Commission (FSC) Chairman Choi Jong-ku said it is possible to sell Asiana Airlines Inc. to a buyer with shortcomings after making up for its weak points. However, he denied the possibility of hiving off of the airline's subsidiaries. Currently, Kumho Industrial Co. and credito
The Korea Development Bank (KDB) announced on July 2 that it has issued 5-year euro-denominated green bonds worth 500 euros (US$564.90 million or 661.22 billion won) in the Euro market. The bonds carry a coupon rate of 0.019 percent, opening an era of zero interest rates in the South Korean euro-den
South Korea’s financial regulator is planning to provide 3.50 trillion won (US$3.03 billion) worth of low-cost loans to companies in core manufacturing industries, including shipbuilding and automobiles.Choi Jong-ku, chairman of the Financial Services Commission (FSC) announced the financial support
General Motors Co. Chairman Mary Teresa Barra announced restructuring plans last year to downsize the workforce by 18,000 in North America and shut down seven plants around the world. In addition, she said she would close down two more overseas plants which fail to make a profit at the end of this y
The Korea Venture Capital Association announced on June 4 that fresh venture investment in South Korea totaled 6,494.2 billion won last year.The figure includes 4,725.9 billion won in non-listed small and venture firms and 1,604.9 billion won in listed and overseas companies. The venture investment-
Hyundai Heavy Industries has barely succeeded in dividing itself for the acquisition of Daewoo Shipbuilding & Marine Engineering (DSME), overcoming strong opposition from its unionized workers. Now the company is facing resistance from the DSME labor union in carrying out due diligence.Hyundai Heavy
Aekyung Group, a Korean cosmetics-to-health care conglomerate that owns low-cost carrier Jeju Air Co., is entering a bidding battle for Asiana Airlines Inc.Recently, the group has disclosed its intention to take over the financially troubled full-service carrier, while major business groups, such as
Kumho Asiana Group is facing difficulties in selling off its stake in struggling Asiana Airlines Inc. Domestic business groups that were considered potential buyers, such as SK and Hanwha, all announced that they are not considering acquiring Asiana Airlines, raising the possibility that the stake s
The creditor banks of Asiana Airlines, including Korea Development Bank (KDB), have re-extended a memorandum of understanding (MOU) on financial structure improvement with the ailing carrier for another year.KDB also signed a separate MOU with Asiana Airlines at the end of last month to provide addi
As Hyundai Merchant Marine Co. (HMM) has been struggling with losses for 15 quarters in a row, creditors, including Korea Development Bank (KDB), are paying keen attention to the firm’s Q1 earnings results to be announced in the middle of this month. The ailing shipping company is expected to post a
The Korean government has decided to provide tax benefits to Samsung Electronics for its massive investment in the foundry business.The decision goes against the government’s recent trend to reduce tax breaks for R&D and facility investments. This indicates Korea’s urgent need to secure future growt
Korea Development Bank (KDB) is seeking to revitalize the domestic venture ecosystem in cooperation with global accelerators.KDB announced on April 28 that it invited an official from Plug and Play, one of the top U.S. accelerators in Silicon Valley, to give a lecture at a special round of “KDB Next
Korea Development Bank (KDB) announced on April 25 that it would set up KDB Investment as its subsidiary to be in charge of investee management and industrial restructuring. The initial capital of the subsidiary is 70 billion won and its first CEO is Lee Dae-hyun, KDB’s former senior vice president.
Creditors of Asiana Airlines have decided to provide a total of 1.73 trillion won (US$1.51 billion) in loans to normalize the nation's second largest carrier.Of the total, 1.6 trillion won will be directly provided to Asiana Airlines, while the remaining 130 billion won will be given to Kumho Bu