Articles by Son Ji-hyoung
Son Ji-hyoung
consnow@heraldcorp.com-
State-backed W8.6tr fund adds to Korea‘s post-COVID growth capital
South Korea’s signature “Growth Support Fund,” a state-backed financing program for venture firms, raised a combined 8.6 trillion won ($7.2 billion) in commitments as of July, one of the fund backers, Korea Development Bank, said Thursday. Given the higher-than-anticipated matchmaking activities for subfunds by external partners, the Growth Support Fund’s total commitments for growth equities is expected to reach the mark of 9 trillion won by this year, KDB added. This
Market Aug. 20, 2020
-
POBA to select 2 global partners for $350m overseas debt portfolios
The Public Officials Benefit Association said Wednesday it plans to select two global asset management houses as external partners to manage its overseas fixed income portfolios. Under the plan, the state-run institutional investor, which manages funds to support public officials’ welfare, will commit a total of $350 million to the appointed two investment houses. To qualify for consideration, POBA said each prospective manager must oversee over $5 billion worth of debt instruments
Market Aug. 19, 2020
-
Shinhan Alpha REIT to buy Twincity Namsan offices for W238.6b
Shinhan Alpha REIT rolled out plans to buy 37,600 square meters of office space in Twincity Namsan in central Seoul for 238.6 billion won ($201.6 million) from KB Asset Management, a filing showed Wednesday. The property occupies 20 floors of the 30-story commercial building. Built in 2015 and located in Yongsan-gu, in the vicinity of Seoul Station, Twincity Namsan is composed of two buildings -- commercial and residential. The office segment is composed of 18 floors above ground and two base
Market Aug. 19, 2020
-
IPOs boost DSC Investment’s H1 performance
DSC Investment, South Korea’s venture capital house trading on the Kosdaq stock market, said Tuesday its first-half performance was buoyed by the successful stock market debut of its portfolio companies. The company last Friday announced it logged 8.6 billion won ($7.3 million) in revenue during the January-June period, up 36.4 percent from a year earlier. Its net profit came in at 4.1 billion won, up 60 percent, during the cited period. The company said the improved earnings were attrib
Market Aug. 18, 2020
-
Proposed insurance rules may force Samsung Life to unload Samsung Electronics shares
The push by some lawmakers to revise the Insurance Business Act is weighing down on the nation’s largest life insurance firm, Samsung Life Insurance, as the insurer would have to offload a large part of its Samsung Electronics stake, now worth nearly 30 trillion won ($25.3 billion). The move recently caused Samsung Life stock prices to fluctuate heavily, partly on speculative buying in anticipation that Samsung Life’s valuation will grow higher in the long run as a result of the sel
Market Aug. 17, 2020
-
Pangyo offices under limelight in deregulation hopes: report
Pangyo, a South Korean version of Silicon Valley, is garnering attention as an emerging destination for office investment as key regulations affecting the area are set to expire, a report showed Monday. The stabilizing occupancy in Pangyo 1st Techno Valley and Pangyo Alpha Dome City and the 10-year restrictions being gradually lifted from Pangyo 1st Techno Valley starting this year will generate new investment opportunities despite COVID-19, according to a report by real estate services firm Co
Market Aug. 17, 2020
-
MSCI index adds 3 Korean biotech stocks
Morgan Stanley Capital International announced Wednesday it has added three South Korean biotechnology stocks to its MSCI Korea Index. This comes as the technology prowess of the companies has come under the limelight during the novel coronavirus outbreak and subsequently drove up their stock price. Alteogen, Seegene and Shin Poong Pharma have been added to the index, replacing Daewoo Engineering & Construction, Helixmith and Hyundai Department Store. Seegene is Korea’s leading ex
Market Aug. 13, 2020
-
LG Chem, Samsung Biologics close in on SK hynix market cap
The market capitalizations of biopharmaceutical company Samsung Biologics and chemical-to-battery firm LG Chem have soared over the past six months, reflecting market interest in IT and bio sectors amid the coronavirus pandemic. Samsung Biologics’ market cap came to 55.7 trillion won ($47 billion) as of Wednesday, the third-largest in Korea‘s main stock bourse Kospi, data by the Korea Exchange showed Wednesday. This was followed by the fourth-largest LG Chem, whose market cap stood
Market Aug. 12, 2020
-
Gen2 Partners fund freeze headache for Korean brokerages, banks
South Korean financial institutions associated with Hong Kong-based hedge fund manager Gen2 Partners are in a predicament as they struggle to ensure the investment -- sold by them -- could be redeemed later on. Brokerage firms here that sold Gen2 Partners’ funds, invested in the funds or issued derivative-linked securities based on the funds have moved to seek redress by lodging a complaint with the Hong Kong’s Securities and Futures Commission against Gen2 Partners over its alleged
Market Aug. 11, 2020
-
Patriotism-fueled equity fund beat stock market
NH-Amundi Victorious Korea Equity Fund has recorded a 56.1 percent return for retail investors in a year, its parent company said Monday. The public fund which is managed by NH-Amundi Asset Management -- with the most noteworthy investor being South Korean President Moon Jae-in -- was launched on Aug. 14, 2019. It has overrun the depressed stock market trend. Korea’s main bourse Kospi rose 22.1 percent over the cited period. The trust fund manages 123 billion won ($103.7 million) worth o
Market Aug. 10, 2020
-
Foreign investors return to Korean equities despite pandemic
Foreign investors were net buyers of stocks and bonds in July, as the local currency is stabilizing and retail investors are showing more interest, data showed Monday They returned to the South Korean stock market, net buying 582 billion won ($490.6 million) worth of listed shares in a turnaround from net sales for five consecutive months, according to data by the Financial Supervisory Service. This is in sharp contrast to the February-June period, when they net sold a combined 26.58 trillion
Market Aug. 10, 2020
-
[Herald Interview] ‘Race for core assets overseas still competitive amid pandemic’
The pandemic may have shifted Korean real estate investors away from risk toward more conservative assets overseas in hopes of finding bargains, but they are likely to face strong competition from local investors also looking for a flight to safety, experts here said. “During 2020, many investors, including Korean investors, have been anticipating a discount for core assets as a result of the coronavirus, but this discount has not materialized,” Sean Choi, head of the capital market
Market Aug. 4, 2020
-
Macquarie Korea infrastructure fund’s profit inches up in H1
Macquarie Korea Infrastructure Fund said Monday it saw a slight increase in its return on investment and its dividend payout to end-investors in the first half of 2020. According to the final estimate, MKIF recorded a return of 191.2 billion won ($160.3 million), up 1.2 percent on-year. MKIF also vowed to pay 360 won per share to investors in interim dividends, or a 6.2 percent dividend payout ratio, for the first half. MKIF, trading on the nation’s main bourse Kospi since 2006, has com
Market Aug. 3, 2020
-
Asiana creditor blasts HDC for looming W2.5tr deal collapse
Policy lender Korea Development Bank on Monday turned its blame to Hyundai Development Co., the proposed buyer of indebted Asiana Airlines, over its delayed 2.5 trillion-won ($2.09 billion) acquisition deal from Kumho Industrial, the owner of the troubled air carrier. The KDB, one of the creditors of Asiana Airlines, also refused to accept HDC’s call for an extra round of 12 weeks of due diligence on the nation’s No. 2 air carrier -- in addition to the previous seven-week proce
Market Aug. 3, 2020
-
Doosan sells golf club for 1st bailout payback
Financially stressed Doosan Heavy Industries & Construction said Sunday it has closed a deal to sell its golf course for 185 billion won ($155.33 million), enabling it to make debt repayment for the first time since a bailout package earlier this year. Part of the sales proceeds -- roughly 120 billion won -- went to creditors, which have so far injected 3.6 trillion won in the cash-strapped Doosan Group. A consortium composed of construction firm Moamiraedo and Hana Financial Group is th
Market Aug. 2, 2020
Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
-
6
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
7
First lady’s Dior bag scandal to be at center of Assembly audit
-
8
2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
-
9
Yoon honors veterans of Korean War in trip to Philippines
-
10
Firefighters’ 3,000 won meals spark nutrition concerns