The monthslong coronavirus pandemic has affected much of South Korean society, and the sports sector is one of many that has felt the brunt of the crisis. Athletes in nearly all sports play in empty stadiums, while others have had their seasons canceled.  Aiming to reignite fans’ passion for volleyball amid the pandemic, the Hyundai Capital Skywalkers, owned by auto financing firm Hyundai Capital, recently organized an online event to show fans around the team’s locker room a

Amid escalating market interests on a grand succession scenario of late chairman’s shares to his children, data showed on Tuesday that his family may have received some 3 trillion won ($2.7 billion) in dividends since 2014. According to data compiled by the financial regulator Financial Supervisory Service, the total dividend paid to the chairman and his family between 2014 and 2019 reached 2.8 trillion won. When dividends paid to the family this year are added, the figure is highly likel

Stocks of Samsung Group’s key affiliates rallied Monday on expectations of a possible corporate governance revamp at South Korea’s largest conglomerate after the passing of Chairman Lee Kun-hee. Anticipation that the companies might increase dividend payouts to help the owner family secure funds to pay inheritance taxes also boosted the stock prices, according to market watchers. Construction firm Samsung C&T and Samsung Life Insurance, two of the companies that allow the Lee

Retail traders, which have so far buttressed the pandemic-hit stock market, appear to have begun to unload shares, becoming net sellers in the market, data showed Sunday. According to the nation’s sole securities exchange operator Korea Exchange, they sold 1.27 trillion won ($1.13 billion) worth of stocks on Oct. 1-23. For the 14 trading days from Oct. 5-23, they sold 1.06 trillion won of shares in market kingpin Samsung Electronics, the most among large-cap companies. They sold off 269.

The market capitalization of Samsung Group under the late Chairman Lee Kun-hee’s leadership of 27 years grew nearly 350 times, as the corporate empire he built turned into a global information technology powerhouse from a mere home appliance maker. The combined market value of the conglomerate’s affiliates -- including crown jewel Samsung Electronics and construction firm Samsung C&T -- reached 318.7 trillion won ($282.4 billion) in 2014, when the late chairman had a heart atta

South Korea’s biggest institutional investor, the National Pension Service, has forged a partnership with Dutch retirement fund operator APG Asset Management to invest in European and Asian markets, according to the Korean fund operator. APG, which managed assets worth 538 billion euros ($637.4 billion) as of the end of 2019, invests in the private education, construction and energy sectors on behalf of Dutch state-run fund ABP. Before forging the partnership, APG and the NPS jointly in

The prices of small to midsized apartments have increased precipitously in recent years, according to data from the office of Rep. Kim Sang-hoon. The lawmaker’s office received the data from the Korea Appraisal Board. Small to midsized apartments, measuring 40 to 62.8 square meters, have increased in price 65.9 percent, posting 245.2 million won on average, from May 2017 to July this year, the data showed. The lawmaker’s office classified apartments into four categories: Small apa

Big name retail chains have been recently joining forces with card companies to analyze spending patterns and cater to diverse needs of consumers. Spearheading the trend, South Korea’s largest card company Shinhan Card inked a partnership with GS Retail, the operator of convenient store chain GS25, on Monday to develop new business models by analyzing data linked to items purchased and consumer behavior. By combining a wide range of data, including items sold at convenience stores and

Car sharing firm Socar said Friday that it has newly attracted 60 billion won of funding from investors, achieving unicorn status with a corporate value of 1 trillion won ($872.6 million). With Socar’s latest addition to the unicorn list, South Korea now has 12 unicorn companies, including ecommerce firm Coupang, fintech company Viva Republica and accommodation booking services operator Yanolja. Socar is Korea’s first mobility unicorn. “As Socar has received a combined 6

Share price of Big Hit Entertainment, an entertainment agency behind K-pop boy band BTS, slid for two straight days right after the high profile initial public offering Thursday. The company’s stock price traded 19.77 percent lower at 207,000 won ($180.6) in intraday trading Friday. After soaring by 30 percent to 351,000 won on its Thursday debut on the main bourse Kospi, the stock closed at 258,000 won, down 4.4 percent from the opening price of 270,000 won. BTS’ offering price s

South Korea’s leading credit card company Shinhan Card said Thursday that it has issued social bonds worth $400 million via a public offering. The issuance of the bonds, aimed at funding small-and medium-sized businesses and helping the financially marginalized, is the first of its kind in the local credit card segment since the global financial crisis in 2008, according to Shinhan. Some 100 institutional investors -- nearly 82 percent from the Asian region and the rest from Europe

Trust deposits for pension funds operated by Mirae Asset Global Investments surpassed the 8 trillion won ($7 billion) mark, the company said Thursday. The company pooled 3.8 trillion won for private pension funds and 4.2 trillion won for retirement funds. Both figures are the highest in their respective segments, it added. Trust deposits for the pension market grew by 1 trillion won this year to 32 trillion won, according to financial market tracker FnGuide. Mirae Asset put its focus on rol

KB Card, a major card issuer in South Korea, rolled out a mobile payment solution Thursday as part of its efforts to transform into a digital financial platform operator. The payment solution, named KB Pay, allows users to utilize money transfer, overseas remittance and currency exchange services. KB Pay subscribers can also have credit cards and gift certificates registered on the app to use them at online stores or brick-and-mortar shops. Those who want to make purchases in other countries

Stock prices of Hyundai Motor Group’s affiliates remained largely unfazed by the announcement of the South Korean conglomerate welcoming Chung Euisun as its new chairman on Wednesday, except for Hyundai Glovis, a subsidiary controlled by the new leader. Stock in the group’s crown jewel, Hyundai Motor Company, ended 0.56 percent lower at 178,000 won ($155.16) while that of Hyundai Mobis, an automotive parts company, ended 1.7 percent lower at 231,500 won. The conglomerate’s oth

Kids Note, an operator of a mobile platform for nursery schools and parents in South Korea, said Tuesday it was preparing to go public in 2022. As part of its initial steps for the planned initial public offering, the company has recently picked Daishin Securities as a lead underwriter. Founded in 2012, Kids Note runs a communication service between child care centers and parents. In 2015, it became an affiliate of mobile tech behemoth Kakao. Mimicking Kakao’s free-of-charge business mod

Despite the South Korean government’s all-out efforts to curb the heated property market, apartment prices in Seoul have been soaring recently, with some in upscale residential areas even hitting a record sales prices last month. According to data compiled by the Ministry of Land, Infrastructure and Transport, a Hannam The Hill apartment unit in Hannam-dong, Yonsan-gu, was recently sold for 7.75 billion won ($6.8 million). The housing unit with a usable floor area of 243.642 square meter

Runners-up in the local credit card sector increased their market shares in the April-June period, upping the ante against South Korea’s largest card issuer, Shinhan Card, data showed Thursday. Overall sales from personal and corporate credit cards issued by the nation’s seven leading credit card companies, including Samsung Card, KB Kookmin Card and Hyundai Card, came in at 140.3 trillion won ($121.2 billion) in the second half, according to the state regulator, the Financial Supe

Brokerage firm KB Securities and gaming company NCSoft have recently joined forces with December & Company, an asset management company offering customized services, to provide stock trading services using artificial intelligence technology, according to the companies on Wednesday. Under the partnership, KB and NCSoft will invest 30 billion won ($25.9 million) each to December for development of an AI-powered stock trading platform. December will use its asset management platform Fint, an

Kyochon F&B, South Korea’s largest fried chicken franchise, will go public next month, aiming to secure up to 71.3 billion won ($61.4 million) of funding. According to the company’s securities report submitted to the Financial Services Commission on Monday, the fried chicken franchise will issue 5.8 million shares that are forecast to be priced at between 10,600 won and 12,300 won. Based on these share prices, the market capitalization of the company after the IPO is anticipated

The number of relatively affordable “jeonse” apartment rentals in Seoul has decreased in the past couple of years, as rent prices have escalated despite government measures to prevent this, data showed Monday. A jeonse rental involves a large lump-sum deposit but no monthly rental payments on a two-year lease. According to data released by the office of Rep. Kim Sang-hoon, jeonse rentals of 400 million won ($344,000) or under accounted for 46 percent of the long-term leasing marke