Candle Media, a KOSDAQ-listed mobile content producer, said in its disclosure report Wednesday that its largest shareholders are considering “various options” with regards to their ownership in the company.It added, however, that no decisions have been made. This statement comes as the Korea Exchange sought clarification from the company to verify rumors that the company’s largest shareholders -- SK Telecom’s investment funds -- will sale their shares and exit the company on Tuesday.SK Telecom’s

Pan Ocean, a listed bulk carrier services company, said in its disclosure report Wednesday that it has secured a long-term contract to ship iron ore for Vale, Brazil’s metals and mining giant.The contract is worth some 419 billion won ($362 million), accounting for about 25 percent of Pan Ocean’s sales, the shipping company reported. Pan Ocean will start shipping iron ore for Vale from October this year to October 2036 via destinations including China, Malaysia and Brazil.Jeil Holdings is the la

Korea Investment & Securities has purchased bonds issued by Hyundai Capital Services, according to the auto financing company’s disclosure filing Wednesday.Hyundai Capital said that it has issued bonds worth 10 billion won through its manager Standard Chartered Bank Korea, and Korea Investment & Securities acquired all the bonds with a yield of 2.058 percent. The bonds’ maturity date is Dec. 21, 2020. Buildings of securities firms in Seoul (Yonhap)Korea Investment can demand a “put option” by re

Dongbu 4th Special Purpose Acquisition, a KOSDAQ-listed SPC, said in its regulatory filing Wednesday that it has acquired Creative Leaders Group Eight, a privately-held content production house.The acquisition fund of Dongbu Securities said that it will help Group Eight finance content such as TV dramas and musicals. Following the takeover, Group Eight’s corporate name will cease to exist, but its production operations will continue, according to Dongbu’s disclosure filing.Headquarters of Dongbu

Hyundai Cement said in its disclosure filing Wednesday that the Seoul Central District Court had dismissed an injunction filed by former chairman Chung Mong-sun against the company’s executives, including CEO Lee Joo-hwan.Chung filed for an injunction with the court last October to suspend the appointments of the executives amid a battle over the company’s ownership. The Seoul court said Chung’s claims did not suffice to justify an injunction.Chung tried in vain to plead his case to take over th

The Financial Services Commission is expected to devise a policy that enables financial professionals to start their own investment advisory ventures, in the second half of this year, according to the country’s regulators on Sunday.The FSC will seek to introduce a revised law to boost independent financial advisory services in the local capital market for legislation by the end of May.The IFA revision will allow employees of financial services companies to set up and operate investment advisory

Mirae Asset Securities is expected to participate in a bid for Hyundai Securities through its investment in a private equity fund, according to news reports Sunday.The brokerage, which recently took over Daewoo Securities from the state-run Korea Development Bank, has reportedly decided to invest about 500 billion won ($430 million) in LK Investment Partners private equity for the acquisition.LK, KB Financial Group and Korea Investment Holdings have submitted their letters of intent to purchase

The Financial Services Commission said on Thursday that it held a closed-door meeting with officials from the Financial Supervisory Service, Bank of Korea and state research institutions to evaluate the country’s mortgage levels and housing market.The officials also met to resolve a misunderstanding that the country’s financial authority has been toughening its rules on loans amid a housing oversupply and high household debt.The FSC reiterated its stance that it has not enforced any regulations

The number of Korean venture capital investment firms reached a record high of 118 on the back of the government’s drive to support local start-ups in line with its policy to develop a creative economy, according to the Small and Medium Business Administration on Wednesday.This is also due to relaxed regulations enabling VC firms to be set up with equity capital of 5 billion won. Previously, Korea only allowed VCs with more than 7 billion in equity capital to be established.In addition to the go

Daewoo Shipbuilding & Marine Engineering is expected to issue additional new shares worth 600 billion won ($507 million) this year, as part of efforts to improve its capital base, according to the listed shipbuilder’s main creditor Korea Development Bank on Monday.The new share issuances will most likely be allotted to the state-run creditor bank and the company’s employees, much like the last time the shipbuilder issued new shares worth 460 billion won to KDB and employees of Daewoo Shipbuildin

Korea’s financial regulator has issued a warning to two local credit card companies -- Hana Card and Lotte Card -- ordering them to improve their customer management system, particularly with regard to money laundering.Corporate logo of Hana Card (Hana Card)This comes after the Financial Supervisory Service reviewed their operations last year and uncovered some “defects.”“We did not enforce disciplinary measures against the two card companies, but issued a warning about their systems, ordering t

The Export-Import Bank of Korea plans to issue dollar-denominated bonds to raise $3 billion to $4 billion to help finance Korean companies seeking to expand overseas through exports, a person familiar with the situation said.The scale of debt financing through global bonds this year, the person said, will be similar to that of last year when the bank raised about $5 billion.It will likely select about five to six U.S. and Europe-based advisors such as investment banks for dollar-denominated bond

The Ministry of Finance and Strategy has enforced a disciplinary measure against 57 employees of the Export-Import Bank of Korea for extending bad loans to Moneual and causing losses for the state-run bank, according to Korea Eximbank on Wednesday.“The bank’s internal auditors have been notified of the measure by the Finance Ministry against those employees, and the bank is following necessary procedures,” a spokesperson for Korea Eximbank said.“We, however, cannot yet reveal on the level of the

Sheraton Grande Walkerhill offers spring packagesSheraton Grande Walkerhill is offering two types of packages for couples and families.The “Blooming Walkerhill” package, which is offered March 1-May 31, includes an overnight stay, breakfast and a voucher for “Tasty Box.”Tasty Box is an eco-friendly concept cafe built with shipping containers. It uses solar power from panels. The cafe offers a range of light snacks and desserts from handmade sausages to ice cream. The second package called “Bloom

Banyan Tree introduces ‘Taste Odyssey’ diningBanyan Tree Club & Spa Seoul’s Club Member’s Restaurant is presenting “Taste Odyssey V” from Feb. 26-27. Taste Odyssey is held once a month and this month’s featured ingredient is fresh Byeolgyo cockles. This uniquely Korean dining event will use chamkkomak and pikkomak varieties of these little clams, delivered directly from Yeojaman, the area famous for cockles, located in the Byeolgyo coastal area. Chamkkomak is famous as one of the dishes served t

‘Very Vary Berry’ at Banyan Banyan Tree Club & Spa Seoul is launching the “Very Vary Berry” dessert buffet at Chez Blanc, located on the lobby floor, until March 1. The buffet offers 19 different varieties of the hotel’s favorite sweets, Mont St. Clair’s desserts, with a seasonal strawberry flair. The list includes macarons with strawberry ganache, strawberry cream Mont Blancs, choux and éclairs filled with strawberry cream and cream cheese.The “Very Vary Berry” buffet is open Monday to Thursday

Ever wondered what it would be like traveling in space? Or diving deep underwater alongside whales and turtles? How about being a hero fighting crime?Ordinary people may not be able to experience these firsthand, but they can indirectly experience them through the emerging technology of virtual reality.Visitors try out virtual reality headsets at the Center for Creative Economy and Innovation in Pangyo, Gyeonggi Province. (KT)Just across from the headquarters of local PC gaming giant NCsoft, the

Lotte Hotels & Resorts’ new concept lifestyle hotel L7 Myeongdong seeks to promote itself as “hip, fun and trendy,” targeting mostly young female tourists in their 20s and 30s. Hotel Lotte CEO Song Yong-deok speaks during a press conference at L7 Myeongdong in Seoul on Monday. (Hotel Lotte)“We basically want L7 to run as a non-Lotte brand ― a totally new hotel ― and move away from our existing image,” said Hotel Lotte president & CEO Song Yong-deok at a press conference at L7 Myeongdong on Monda

GWANGJU ― If you exit the subway station connected to the Asia Culture Center in Gwangju thinking that the multicultural complex will be similar in scale to the Seoul Arts Center in southern Seoul, you should think again. Asia Culture Center in Gwangju (Culture Ministry)With its five interconnected buildings based on different yet synergistic and convergent themes, the Asia Culture Center strikes awe in visitors, who marvel at the architecture and the interior maze of exhibition and performance

Lotte Hotel, part of Lotte Group, will open a new lifestyle concept hotel called “L7 Myeongdong” in Seoul on Jan. 12.The L7 will offer stylish facilities, where hotel staff will sport jeans, oxford shirts and slip-on shoes in bright and lively colors in order to appeal to guests as “friendly and caring,” the hotel affiliate said.The hotel, situated in Myeong-dong ― Seoul’s downtown shopping district frequented by hallyu tourists ― will primarily target female guests in their 20s-40s who enjoy st