Woori Bank subsidiaries
Scope
Date
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Korean stock market
Goldman Sachs slashes Korean cathode stock targets; market ignores
Goldman Sachs Group Inc. has slashed the target prices of South Korean top cathode stocks, namely EcoPro BM Co. and POSCO Future M Co., by nearly ha...
Jun 13, 2023 (Gmt+09:00)
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Automobiles
Hyundai Motor to collect $5.9 bn in dividends from abroad for EV push
Hyundai Motor Group’s overseas subsidiaries will repatriate $5.9 billion in dividends in total to their parent in South Korea this year to hel...
Jun 12, 2023 (Gmt+09:00)
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Infrastructure
Woori, ABL Life commit to Rubicon’s infrastructure debt fund
South Korea’s Woori Global Asset Management Co. and ABL Life Insurance Co. have committed a sizeable amount of capital to a first closing of a...
Jun 09, 2023 (Gmt+09:00)
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Chemical Industry
Hyosung Chemical’s credit rating downgraded one notch
Korea Investors Service downgraded the unsecured bond credit rating of Hyosung Chemical on Thursday from A to A-, saying that its profit-generating ...
Jun 08, 2023 (Gmt+09:00)
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Electric vehicles
Polestar 3 to light up roads with headlamps of LG’s ZKW
The Polestar 3, an all-electric mid-sized sport utility vehicle, will be equipped with high-definition light-emitting diode (HD LED) headlights deve...
Jun 08, 2023 (Gmt+09:00)
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Automobiles
Hyundai Mobis to expand vehicle module facility in S.Korea
South Korea’s Hyundai Mobis Co. will build its third automotive module plant in Ulsan, South Korea, where its parent Hyundai Motor Group opera...
Jun 06, 2023 (Gmt+09:00)
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Energy
LG Electronics starts production of EV chargers
South Korea's electronic giant LG Electronics Inc. announced on Thursday that it has started production of electric vehicle (EV) chargers, marking i...
May 25, 2023 (Gmt+09:00)
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Banking & Finance
Korea's loan delinquency rates soar; outlook to worsen in H2
South Korean banks are seeing loan delinquency rates surge due to the increase in lending during the pandemic and a series of rate hikes. The rates ...
May 22, 2023 (Gmt+09:00)
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Chemical Industry
Hyosung Chemical makes emergency investment in crisis-hit Vietnamese subsidiary
Hyosung Chemical announced on Monday that it will invest $120 million in its Vietnamese subsidiary, Hyosung Vina Chemicals Co.Hyosung Vina Chemicals...
May 22, 2023 (Gmt+09:00)
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Capital raising
LS Group's US affiliate SPSX to raise $150 mn in pre-IPO
LS Group’s US cable affiliate Superior Essex (SPSX) plans to raise $150 million (200 billion won) via a South Korean private equity fund (PEF)...
May 19, 2023 (Gmt+09:00)
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ASK 2023
Private debt will offer both income and downside protection: ASK 2023
Global investors will find opportunities to increase positions in private debt markets amid high interest rates this year and need to strengthen their...
May 17, 2023 (Gmt+09:00)
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Bio & Pharma
NKMax submits US subsidiary's securities report to SEC
The listing in the US of NKGen Biotech, the American subsidiary of South Korean developer of natural killer (NK) cell therapy NKMax Co., is coming i...
May 17, 2023 (Gmt+09:00)
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Electric vehicles
POSCO International to set up EV parts factory in Poland
POSCO International, the general trading and energy exploration unit of South Korea’s steel giant POSCO Holdings Inc., plans to build an elect...
May 15, 2023 (Gmt+09:00)
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Economy
S.Korea to see 240K drop in number of manufacturing workers by 2032
The number of workers in South Korea's manufacturing sector is expected to drop by 240,000 over the next 10 years, a report says, caused by the decl...
May 10, 2023 (Gmt+09:00)
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Infrastructure
Hyundai Rotem, Hana Bank to promote private railway project
Hyundai Rotem Co., a South Korean railway system maker under Hyundai Motor Group, announced on Monday that it has signed an infrastructure fund inve...
May 08, 2023 (Gmt+09:00)
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Central bank
BOK chief says rate cut premature despite slower growth
South Korea’s central bank chief on Wednesday said it is too early to suggest starting to cut interest rates as inflation remains above its ta...
May 03, 2023 (Gmt+09:00)
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Pre-IPOs
KKR mulls investing $150 mn in Korean fashion platform Musinsa
Musinsa Co., South Korea’s leading online fashion platform, is in the final stage of attracting 200 billion won ($149.8 million) from US priva...
Apr 25, 2023 (Gmt+09:00)
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Earnings
S.Korea’s Woori Financial profit up on interest rate margins
Woori Financial Group, South Korea’s fourth-largest financial holding company, logged growth in a quarterly net profit as larger interest rate...
Apr 25, 2023 (Gmt+09:00)
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Memo from Howard Marks
Lessons from Silicon Valley Bank
This isn’t going to be another history of the meltdown of Silicon Valley Bank. Dozens of those have appeared in my inbox over the past mon...
Apr 18, 2023 (Gmt+09:00)
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Banking & Finance
Korean banks’ profits hamstrung by tighter rules, consumer behavior
South Korea’s commercial banks usually post decent earnings driven by high interest income when the country’s policy interest rates are ...
Apr 18, 2023 (Gmt+09:00)
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Bio & Pharma
S.Korea’s first-generation bio companies set up support fund for new ventures
South Korea's first-generation bio companies and Industrial Bank of Korea (IBK) have created a bio investment fund to support ventures in the field ...
Apr 14, 2023 (Gmt+09:00)
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Private equity
NPS, Korea Investment to sell off stake in Brazilian miner CBMM
South Korea’s National Pension Service (NPS) and Korea Investment Private Equity Co. are set to sell off their stake in a Brazilian rare metal...
Apr 11, 2023 (Gmt+09:00)
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Central bank
BOK chief says tightening not over after rate freeze
South Korea’s central bank chief on Tuesday defied market views that the monetary authority may have ended its tightening campaign, citing gro...
Apr 11, 2023 (Gmt+09:00)
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Central bank
BOK to hold rate on Tuesday as inflation, growth ease
South Korea’s central bank was widely expected to leave its policy interest rate unchanged this week as inflation slows amid fears of a recess...
Apr 10, 2023 (Gmt+09:00)
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Corporate strategy
Lotte Group secures $3.8 bn funding from four major Korean banks
Lotte Group announced on Friday that it has signed a financial support agreement worth 5 trillion won ($3.8 billion) with four major South Korean ba...
Apr 07, 2023 (Gmt+09:00)
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Chemical Industry
S.Korea's D-Rex Polymer starts making green adhesive
South Korean petrochemical company DL Chemical on Thursday said its subsidiary D-Rex Polymer on April 1 began production of an eco-friendly adhesive...
Apr 07, 2023 (Gmt+09:00)
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Mergers & Acquisitions
Macquarie to buy Lotte’s S.Korean transportation card unit
Macquarie Asset Management, part of Australian investment bank Macquarie Group, is set to buy Loca Mobility Corp., Lotte Card Co.’s subsidiary...
Apr 05, 2023 (Gmt+09:00)
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Advertising & Marketing
Innocean's subsidiary D&G opens Brooklyn office
Innocean, a Hyundai Motor Group-affiliated advertising agency, announced on Monday that it has opened a Brooklyn office of creative subsidiary David...
Apr 03, 2023 (Gmt+09:00)
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Shareholder activism
JB Financial wins proxy fight against activist fund Align Partners
South Korea’s JB Financial Group Co. won a proxy battle against local activist fund Align Partners Capital Management on dividends and nominat...
Mar 31, 2023 (Gmt+09:00)
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Fintech
LINE, Mizuho call off plan to set up mobile-only bank in Japan
LINE Corp. and Mizuho Financial Group’s plan to introduce an internet-only bank in Japan has fallen through about five years after they unveil...
Mar 30, 2023 (Gmt+09:00)
Latest News
- 1 Lotte Chemical, HD Hyundai seek big deal via merger of naphtha cracking facilities
- 2 South Korea accelerates stablecoin framework in global race
- 3 Lee vows policy overhaul to spur dividend payouts
- 4 IFEZ to apply for designation of southern Gangwha as free economic zone
- 5 Jollibee to buy chicken chain Norang Tongdak amid global K-food frenzy