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

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

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 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

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 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

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

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

South Korea is looking to launch a bridge institution to take over all the assets, as well as the liabilities, of the scandal-ridden hedge fund Lime Asset Management and ensure that its end-investors can retrieve their investments as planned. A group of 20 financial institutions -- involved in selling hedge funds of Lime -- named Kang Min-ho, former chief risk officer of Hanwha Investment & Securities for a two-year term -- as head of the new bridge institution with 5 billion won ($4.2 mill

Market Aug. 2, 2020

South Korea’s venture capital houses are actively seeking exit plans from their startup investments as promising firms are gearing up for initial public offerings following the stock market recovery, according to market watchers Thursday. One of the VCs that already did so was Company K Partners, which cashed out part of its investment in Wipam, the nation’s only power amplifier module manufacturer for smartphones, through a July IPO before making its market debut Friday. The value

Market July 30, 2020

Mastern Investment Management said Thursday it has sent a message of support from its staff to health care professionals, health authorities and citizens in the battle against the novel coronavirus. Employees of the South Korean real estate investment house, including CEO Kim Dae-hyeong, took part in a campaign at its headquarters to express gratitude to those at the forefront of the strenuous battle. “I was delighted to participate in such a meaningful campaign and contribute to overco

Market July 30, 2020

The dominance of digital devices in the work environment has led to significant changes in global litigation involving corporate disputes. The massive amounts of intangible data have increasingly emerged as key evidence of business misconduct that is becoming more and more sophisticated. A high-profile case in the US this year was a true testament to the trend. Electronic discovery conducted by the US International Trade Commission led to a preliminary ruling -- by default -- in favor of plai

Market July 27, 2020

The initial public offerings of South Korean real estate investment trusts are drawing lackluster response from retail investors before their listing on the local stock market, estimates showed Sunday. The latest was the undersubscription of the stock offering to individual investors, when JR Asset Management’s REIT was going public on the main bourse Kospi to invest in Finance Tower Complex in Brussels, Belgium. REITs are companies designed to generate returns for investors in the for

Market July 26, 2020

Samsung Asset Management disclosed Sunday it has put a merger plan with its wholly owned hedge fund subsidiary on hold. The Seoul-based asset manager that oversees 26.9 trillion won ($22.3 billion) assets -- largest in South Korea -- added it would make an announcement once the date of merger is rescheduled. The deal was initially set to be closed by Aug. 1, following regulatory approval. The news comes amid intensifying scrutiny by authorities of Korean privately pooled funds -- private equ

Market July 26, 2020

IGIS Asset Management said Thursday it has canceled a plan to renovate an apartment building in Gangnam, an affluent southern district of Seoul, it acquired in April. The nation’s largest commercial property investor added it would liquidate the privately pooled fund that was created to invest in the redevelopment project, immediately after it sells the residential building. The asset management company purchased Samsung World Tower from an individual for 42 billion won ($35 mil

Market July 23, 2020