SK hynix's retreat from a planned US listing of Solidigm has sent a warning to Korean conglomerates eyeing Wall Street: Seoul's tougher scrutiny of duplicate listings could derail their global fundraising ambitions. The chipmaker said Oct. 23 it had suspended plans to list its US flash memory subsidiary on the Nasdaq, shelving a potential blockbuster offering that could have valued Solidigm at up to $150 billion. While SK hynix cited market conditions, the decision followed mounting shareholder

Offshore capital giants are eyeing South Korea's mobility service providers, betting on the industry’s growth potential and the value of data accumulated by mobility platforms. According to industry sources Friday, Goldman Sachs is in talks with SK Square to acquire T Map Mobility, operator of the country's leading navigation service T Map with more than 15 million monthly active users. SK Square, the largest shareholder of T Map Mobility, holds a 63.23 percent stake in the company. Goldman Sach

As the US Federal Reserve held its key interest rate steady, Chair Kevin Warsh pointed to South Korea's importance in the global technology supply chain as a reason for tracking its economy. "I would say I pay probably more attention to the Korean economy than you might think because when I am looking at the feedstocks effectively for this new surge in technology, a lot of it is coming from Japan and Korea, some from Singapore," Warsh said at a press conference Wednesday after the Fed announced

Seoul's prime office market is seeing a fresh wave of major property transactions, with landmark properties changing hands or being put up for sale even as rising borrowing costs weigh on investment activity. Earlier this month, Samsung SRA Asset Management selected Igis Asset Management as the preferred bidder to acquire K-Twin Towers in central Seoul for 1.05 trillion won ($782 million). Located across from Gyeongbokgung in the Gwanghwamun area, the asset has maintained full occupancy, with bl

JB Financial Group posted its highest-ever net profit of 595.7 billion won ($450 million) in the first nine months of the year, the banking group announced Tuesday. Net profit attributable to shareholders rose 0.8 percent on-year to 210 billion won in the third quarter and 2.9 percent to 595.7 billion won in the January-September period. Both figures marked record highs for their respective periods. Revenue also increased, with third-quarter revenue rising 13 percent year-on-year to 1.27 trillio

Citibank Korea announced Tuesday that Kim Kyoung-ho, head of the corporate banking group, has been appointed as its new chief for a three-year term. The appointment follows an extraordinary general meeting of shareholders and a meeting of the board of directors. Kim was nominated as the final candidate for the position of Citi Country Officer and Banking Head for Korea on Sept. 22. The nomination committee cited Kim's strong expertise and proven track record in corporate banking and client relat

South Korea should set aside part of the revenue generated during the chip boom to cushion against future downturns, Laura Alfaro, chief economist and economic counselor of the Inter-American Development Bank, said Tuesday. Her remarks come as Korea moves to establish a 162 trillion won ($122 billion) Future Response Fund, which will channel additional tax revenue generated by the semiconductor boom into long-term investments while building reserves to offset future revenue shortfalls. While Alf

Korea Investment Management's first exchange-traded fund developed in collaboration with China Universal Asset Management's Hong Kong unit has recently been listed on the Hong Kong Stock Exchange, the asset manager announced Monday. The CUAM Solactive China & Global Semiconductor ETF, with a net asset value of 15.85 million Hong Kong dollars ($2.06 million), was listed Friday. The fund tracks the Solactive Ace ETF Connect China & Global Semiconductor Top 30 Index, developed by German index provi

The Korean won is saying goodbye to the days when its fortunes were closely tied to the ups and downs of the local stock market. Stock prices and the won's value have typically moved in tandem. Offshore investors hold roughly 40 percent of the main bourse Kospi's total market capitalization. When they sell shares and convert the proceeds into dollars for repatriation, rising dollar demand puts downward pressure on the won. Conversely, when they convert dollars into won to buy Korean shares, dema

The Seoul Central District Court on Thursday dismissed an 837 billion won ($632 million) shareholder derivative lawsuit filed by Young Poong and MBK Partners against Korea Zinc Chairman Choi Yun-birm and other directors, handing the company's management a legal victory in their ongoing battle for control. The Young Poong-MBK alliance filed the suit in November 2024, alleging that Korea Zinc's directors caused substantial losses by buying back shares at 890,000 won apiece through a tender offer,

Hanwha Asset Management has made an additional investment in US space transportation startup Impulse Space, joining a $308 million funding extension as it expands its portfolio of overseas deep-tech companies, the firm said Thursday. Founded in 2021 by Tom Mueller, a SpaceX founding member and former chief technology officer, Impulse Space develops spacecraft that transport satellites and cargo to their designated orbits after launch. Hanwha Asset participated through a project fund backed by fo

Despite wild Kospi swings, brokerages are doubling down on Korean chip stocks, betting the AI-driven memory boom has much further to run. The benchmark index has seesawed in recent sessions, with chip heavyweights Samsung Electronics and SK hynix at the center of the turbulence as investors reassess the outlook for AI demand. On Thursday, the Kospi plunged 7.57 percent, triggering a 20-minute marketwide trading halt. But sentiment swung back Wednesday, when Samsung and SK hynix each surged more

A consortium led by Daou Kiwoom Group, alongside CJ Group and Shinsegae, has emerged as the preferred bidder for debt-laden newspaper publisher JoongAng Ilbo, bringing two branches of the Samsung founding family into a bid to revive the struggling media company. Daou Kiwoom Group, whose flagship financial affiliate is Kiwoom Securities, is expected to take a 50 percent stake in the consortium, with entertainment conglomerate CJ Group and retail giant Shinsegae splitting the remainder, according

SK hynix has launched a 2 trillion won ($1.5 billion) financing program with major commercial banks and a state-run trade insurer to help domestic semiconductor suppliers secure affordable funding and strengthen Korea's chip supply chain, the company said Monday. SK hynix CEO Kwak Noh-jung, Industry Minister Kim Jung-kwan, representatives from the Korea Trade Insurance Corporation, four major banks — Hana, KB Kookmin, Shinhan and Woori — and semiconductor suppliers attended a signing ceremony at

Chiefs of five major South Korean commercial banks will attend a parliamentary audit on Monday to face questions over a wave of cyberattacks that exposed customers' and employees' personal data. The National Assembly's National Policy Committee approved a motion on Oct. 8 to summon KB Kookmin Bank CEO Lee Hwan-ju, Shinhan Bank CEO Jung Sang-hyuk, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH NongHyup Bank CEO Kang Tae-young as witnesses for an audit of the Financial Supervisory S