Kakao to suspend trading due to 5-for-1 stock split next week

　Trading in shares of Kakao, South Korea’s top mobile messenger operator, is set to be suspended for three days from April 12, following its decision to carry out its first-ever stock split. 　By lowering the face value of its stocks by 80 percent, the split makes it easier for small investors to purchase shares. It will increase the number of issued shares to 443,523,100 from 88,704,620 shares -- each shareholder will get five new shares for each one they currently hold. The newly split

NPS to widen domestic equity allocation range

　South Korea’s National Pension Service has adjusted its rules to raise the strategic asset distribution limit for domestic stock holdings by 1 percentage point, Minister of Health and Welfare Kwon Deok-cheol said on April 9. 　“The proportion of strategic asset allocation limit for domestic equities has been increased from the current 2 percent to 3 percent,” said Kwon, who also heads the state pension’s asset management committee. 　Under the revision, the portion of it

Regulator to probe Hyundai Motor execs for alleged insider trading

　The financial authorities will launch an investigation into executives of Hyundai Motor on allegations that they used undisclosed information regarding Apple’s electric vehicle project to profit from share trading, industry sources said on April 11. 　The Korea Exchange has passed on the case to the Financial Services Commission to begin its own probe as early as this month and decide whether to refer the case to prosecutors, industry insiders said. 　The KRX launched its investigation du

Woori chief faces another penalty for misselling

　South Korea’s financial watchdog on April 9 imposed a penalty on Woori Financial Group Chairman Sohn Tae-seung, holding him responsible for its commercial banking unit’s misselling of funds tied to the 1.7 trillion-won ($1.52 billion) Lime Asset Management scandal. 　The penalty puts further pressure on Sohn, who is already in a legal fight against the Financial Supervisory Service over its sanction slapped on him for another misselling issue. 　Sohn was reprimanded with the third

Putting Korea's legal services on global map

Executives of Bae, Kim & Lee forecast platform businesses, digital economy to heat up Korea’s M&A market

Given choice, AstraZeneca vaccine ‘might not be preferable’ for young people

If vaccines other than AstraZeneca’s are available for young people, South Korean health authorities may want to consider an alternative, said Dr. Jean-Louis Excler, a vaccinologist at the International Vaccine Institute, as more countries limit the use of the vaccine to older people over blood clot concerns. Excler, who is also part of the vaccine safety working group within COVAX, a global body that promotes equitable access to COVID-19 vaccines, said in an interview with The Korea He

Despite high hurdles, Korea bent on developing drugs

Head of state-run support program talks opportunities, challenges facing local firms trying to introduce new approaches to treat diseases

Korea’s top hematologist warns against brushing off AstraZeneca blood clot link

South Korea’s top hematologist says Korea must exercise due caution with AstraZeneca vaccinations until there is a better understanding of the unusual blood clot events being reported here and elsewhere among recipients. “By caution I don’t mean vaccinations should stop, not when we don’t have other vaccines in stock. But we need to proactively monitor people receiving the vaccine and treat any suspected symptoms as though they are a blood clot case,” said Dr. Ki

‘Embrace ESG principle as incentive’

Jipyong managing partner calls ESG a blue ocean market for legal professionals

Coupang, E-mart, Market Kurly join race to offer cheapest price as competition grows

Market Kurly’s best price guarantee policy in direct challenge to Coupang and E-mart

What next after LG-SK battery dispute end?

SKI’s US battery biz salvaged after dramatic patch-up with LGES, but challenges remain

Korea limits AstraZeneca shots to over-30s -- should it be higher?

South Korea restricted the use of AstraZeneca’s COVID-19 vaccine in people younger than 30 years old over the risk of unusual blood clots, but some experts say a higher age limit is advisable. Korea University’s infectious disease professor Dr. Kim Woo-joo said the move is “questionable” when the latest research found that blood-clotting conditions were reported in the vaccine’s recipients ranging in age from their early 20s to mid-50s. For people in their mid t