[THE INVESTOR] Korea’s stock market will see mega initial public offerings during the second half this year with subsidiaries of large conglomerates like Samsung and Lotte poised to fuel the IPO market.  Given that companies commonly push for public listing after posting half-year earnings in June, more deals will fill up this year’s upcoming IPO calendar, following the robust first half, thanks to the stock market that is recovering from negative sentiments.As of June 8, a total of 15 companies

June 14, 2016

[THE INVESTOR] Attention is now focused on who chairman Park Hyeon-joo will name as his successor at Mirae Asset Financial Group. The founder, openly critical of Korea’s large family-owned conglomerate’ father-to-son transfer of throne, has on multiple occasions said he will not pass down the group’s control to his children. 　　Local media paid keen attention, however, when Park Ha-min, Park’s eldest daughter, joined Mirae Asset Global Investments in 2013 to learn the ins and outs of real estate

Business June 13, 2016

[THE INVESTOR] Park Hyeon-joo is recognized as the brains behind the launch of Mirae Asset, one of Korea’s first asset managers to launch mutual and real estate trust funds in the country. Park Hyeon-jooAs the founder and chairman of the firm, Park -- a graduate of Korea University in business administration -- worked his way up the corporate ladder in brokerages, and gained keen trading sensibility. But like any great entrepreneur who has changed the world, Park was not alone in his quest for f

Industry June 13, 2016

[THE INVESTOR] Global investment banking giants lament that their glory days are over. But for many Koreans, investment banking is still finance’s final frontier, all the more fascinating because it seems way beyond their reach. Park Hyeon-joo, arguably the most successful financier born in Korea, eyes Korea‘s presence in the world of investment bankers, from which existing players have been retreating. He aims to grow his Mirae Asset Financial Group into Asia’s leading investment bank. “I have

Industry June 13, 2016

[THE INVESTOR] Park Hyeon-joo, the founder and chairman of Mirae Asset Financial Group, tells his fund managers and executives to think global, have a long term vision and always be the first mover in the market.  Those principles, however, don’t seem to apply to his own ownership of the group.      Mirae Asset is under increasing pressure to reform its corporate governance structure, the cost of which Park seems to think of as a potential drag on global expansion.  Experts say Mirae Asset will

Industry June 13, 2016

[THE INVESTOR] On the Monday after Christmas, Park Hyeon-joo took to the podium at the just-opened Four Seasons Hotel in Seoul, giving his first press conference in eight years. Mirae Asset Financial Group, which he founded in 1997 with 10 billion won ($8.4 million), had just won the hotly contested race to acquire control of KDB Daewoo Securities, a much bigger rival with a long proud legacy but a checkered recent history.  With the 2.4 trillion-won buy, Park’s biggest bet so far, the man who w

Industry June 13, 2016

Korea’s stock market operator will extend trading hours of the stock and derivatives markets by 30 minutes from August, in a bid to synchronize them with other Asian markets, Korea Exchange said Tuesday. The bourse operator said the markets will be open from 9 a.m. to 3:30 p.m., aiming to invigorate the sluggish equity market. Kim won-dae, the head of the securities market division at KRX, speaks during a press conference, held in Seoul, Tuesday. (KRX)“The Korean equity market is increasingly ex

May 24, 2016

North Korea launched what appeared to be a ballistic missile from a submarine in the East Sea Saturday, the South Korean military said. (Yonhap)The Joint Chiefs of Staff said North Korea fired a projectile that it believes was a submarine-launched ballistic missile (SLBM) around 6:30 p.m. The JCS said it is keeping close tabs on the North Korean military while maintaining its readiness posture.The JCS didn't immediately say if the launch was a success.According to a South Korean government sourc

North Korea April 23, 2016