Articles by 김연세
김연세
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Samsung sending additonal relief aid
Samsung Group said Sunday it will make an additional donation of supplies to Japan amid a near rush by businesses here to help people in the neighboring country hit by the powerful earthquake and tsunami.The nation’s largest business group earlier gave 100 million yen ($1.23 million) and 2,000 sets of emergency relief supplies, worth about 30 million yen, to Japan’s Red Cross Society.The group wil
March 20, 2011
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Extended Japan crisis could inflict damage on Korean companies
Damages to South Korean businesses from the quake in Japan are still limited, but they may become more visible and serious if the problems facing Japanese firms become prolonged, market observers said Sunday.The most direct damage to South Korean companies came from the loss of containers containing products awaiting delivery in Japan.The Korea Maritime Institute estimated the country’s shipping c
March 20, 2011
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N.K. sends floral wreath for late Hyundai founder
North Korea has sent a wreath to Hyundai Group to commemorate the 10th anniversary of the death of Hyundai founder Chung Ju-yung, the conglomerate said Sunday, amid efforts by Pyongyang to improve ties with Seoul that quickly deteriorated following the North’s sinking of a South Korean warship and attack on a border island last year.The wreath from the North’s Korea Asia-Pacific Peace Committee wa
March 20, 2011
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Seoul shares face downward pressure
South Korean stocks will trade in negative territory this week as uncertainties in Japan and the Middle East are likely to dampen investors’ appetite for risks, analysts said.After moving with great volatility, the benchmark Korea Composite Stock Price Index closed at 1,981.13 on Friday, up 25.59 points, or 1.31 percent, from one week ago.The Seoul bourse was the sole stock market in Asia that fin
March 20, 2011
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Business failures hit record low
The number of South Korean corporate bankruptcies fell to a record-low level in February on the back of the country’s continued economic recovery, the central bank said Sunday.The number of companies that went bankrupt totaled 99 last month, down from 102 in the previous month, according to the Bank of Korea. The latest figure marked the smallest monthly number of business failures since the centr
March 20, 2011
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Hana Daetoo Securities, Wise Asset face sanctions
The Financial Supervisory Service is set to reprimand a local asset management firm and a brokerage house for incurring huge losses by conducting allegedly reckless investments in stocks last November.The companies which faced regulatory punishment are Wise Asset and Hana Daetoo Securities. They were reportedly negligent in internal controlling, according to the FSS.Though the FSS had planned to f
March 20, 2011
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KCCI offers relief aid to Japanese quake victims
Chairman of the Korea Chamber of Commerce and Industry, Sohn Kyung-shik, has sent letters to his Japanese counterparts expressing sympathy for Japan’s earthquake victims.The organization also plans to send the relief funds raised from 71 of its regional chambers to Japan this week, chamber officials said Sunday.In separate letters to the Japanese chamber and the chamber of commerce representing Se
March 20, 2011
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Regulator gets tougher on savings bank owners
Financial Services Commission Chairman Kim Seok-dong on Thursday pledged to take stern action against major shareholders of savings banks for illegal lending and excessive risk taking.“Main shareholders engaged in unfair practices will face strict sanctions,” he said. “We plan to review major shareholders’ eligibility regularly and drive out of the market those failing to meet requirements.”He mad
March 17, 2011
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Regulator delays approval of Hana-KEB deal
FSC also puts off ruling on whether Lone Star eligible to own KEBThe financial authorities Wednesday delayed its decision on whether to approve Hana Financial Group’s plan to acquire Korea Exchange Bank from U.S. Lone Star Funds.The Financial Services Commission also declined to make a clear ruling on whether the U.S. buyout fund was eligible to control Korea Exchange Bank when it acquired the len
March 16, 2011
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Seoul shares plunge on Japanese radiation fears
KOSPI plummets below 1,900 during trading session, shedding 2.4% at closeKorean stocks tumbled 2.4 percent to a 15-week low on Tuesday hit by rising worries over radiation leaks from Japan’s quake-stricken power plant.The benchmark KOSPI fluctuated during the day, plunging to 1,882.45 at one point though it later managed to contain falls to close at 1,923.92.A day before the index stood at 1,971.2
March 15, 2011
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Uncertainty over KEB deal hits Hana stocks
Hana Financial Group’s shares were weighed down by a growing uncertainty surrounding its planned acquisition of Korea Exchange Bank from U.S. Lone Star Funds.As the possibility that financial regulators will delay the finalization of whether to approve the takeover emerges, the financial group saw its stock price fall for the fourth consecutive trading session.According to the Korea Exchange, Hana
March 14, 2011
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FSC pressured to veto Hana-KEB deal
The nation’s financial authority has been under mounting pressure to reject the takeover deal between Hana Financial Group and U.S. Lone Star Funds on the latter’s planned sale of Korea Exchange Bank.Amid several unfavorable factors for Lone Star, including the Supreme Court’s recent ruling, the possibility that the Financial Services Commission will scrap its alleged decision to endorse the deal
March 13, 2011
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GM awards LG Chem
LG Chem said Sunday that it has been named “corporation of the year” at the 19th annual Supplier of the Year celebration, held at the GM World headquarters in Detroit, Michigan.Company officials said the win was attributable to its lithium-ion battery supplied for GM’s electric vehicle, Volt.To receive the most prestigious award among 82 global suppliers to GM who were also in presence at the awar
March 13, 2011
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4 financial groups vie for ailing savings banks
Major financial groups have been in keen competition to take over debt-saddled savings banks whose operations were suspended by regulators for liquidity woes.The Financial Services Commission has halted operations of seven savings banks since January. Among the potential buyers targeting them are KB Financial, Woori Financial, Shinhan Financial and Hana Financial.Woori Financial has become the pre
March 13, 2011
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KB Financial focuses on customer value
Group provides more financial services, upholds transparency in governanceKB Financial Group is stepping up efforts to improve financial services and maximize customer satisfaction to better meet a fast changing business environment. The group was established in September 2008 under a long term growth plan and an extensive stock transfer from major subsidiaries.Its units include Kookmin Bank, KB K
March 9, 2011
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