[THE INVESTOR]  The listed affiliates of Hyundai Heavy Industries Group increased their market capitalization by 57.3 percent this year, the highest among the 10 largest conglomerates. In total, the combined market cap of top 10 conglomerates’ listed companies rose 5.4 percent or about 36.49 trillion won (US$31.93 billion) on Oct. 12 compared to the last trading day of 2015. With the increase, companies belonging to the 10 largest conglomerates now account for 55.2 percent of all KOSPI-listed fi

Oct. 17, 2016

[THE INVESTOR]  Local conglomerates have invested nearly 23 trillion won (US$20.33 billion) in international tax havens since 2011, financial authorities’ data showed on Oct. 14.According to the information revealed by Rep. Park Kwang-on of the main opposition Minjoo Party of Korea, local conglomerates transferred nearly 441.55 trillion won to known tax havens between 2011 and 2015. Over the same period, 318.18 trillion won was transferred into Korea from the concerned regions including the Caym

Oct. 14, 2016

[THE INVESTOR] The Korea Overseas Infrastructure Fund could make its first investment within the year, local media reported on Oct. 14.The Korea Overseas Infrastructure Fund was established last year with an initial capital of US$2 billion. According to reports, the Ministry of Land, Infrastructure and Transport has narrowed the candidates to three overseas projects led by South Korean companies. Citing unnamed construction industry sources, the reports said that the ministry plans to make its r

Oct. 14, 2016

[THE INVESTOR] The South Korean government will develop Hyundai Merchant Marine as the country’s flagship shipping company, local business daily Chosun Biz reported on Oct. 14. According to the report, the government and the Korea Development Bank plan to strengthen HMM to fill the gap left by Hanjin Shipping after consultations are completed in mid-November. Before it ran aground, Hanjin Shipping was ranked seventh in the global market, and HMM is currently not included among the top 10 shippin

Oct. 14, 2016

[THE INVESTOR] AJ Rentacar announced on Oct. 14 that it has acquired tire retailer Tirebay and renamed it AJ Tirebay.AJ Rentacar hopes to strengthen its presence in the aftersales market with the acquisition. In addition to car rental services, AJ Rentacar operates used car sales and maintenance services. “The plan is to expand into general automotive parts in addition to tire-related parts,” AJ Tirebay chief Kim Sang-jun said. By Choi He-suk (cheesuk@heraldcorp.com)

Oct. 14, 2016

[THE INVESTOR]  The plans for privatizing Seoul Guarantee Insurance have been put on hold, Korea Deposit Insurance Corporation Chairman Gwak Bum-gook revealed on Oct. 13.Speaking at the parliamentary audit, Gwak said that the financial authorities have approved putting the plans on hold. Seoul Guarantee is 94 percent held by the Korea Deposit Insurance Corporation. “Seoul Guarantee Insurance is playing an important role in propagating mid-range interest loans,” Gwak said. “A policy decision on w

Oct. 14, 2016

[THE INVESTOR] The National Pension Service has been concentrating its overseas investments on IT and pharmaceuticals firms, with Apple seeing the largest investment in the first half of this year, data showed on Oct. 13.According to the information obtained by Rep. Ki Dong-min of the main opposition Minjoo Party of Korea, Apple shares in NPS’ portfolio increased by the largest margin in the January-June period. The data showed that the NPS purchased US$142 million worth of Apple shares this yea

Oct. 13, 2016

[THE INVESTOR]  The Korea Development Bank will oversee the issuance of Nomura International Funding’s won-denominated bonds. Nomura International Funding is a Singapore-based subsidiary of Nomura Holdings. The bonds will have 15- and 20-year maturity, and call option will be offered each year after a set period of time, KDB said. The total value of the bonds will be 150 billion won (US$ 132.11 million). Nomura International Funding’s bonds will be the first Arirang bonds -- won-denominated bond

Oct. 13, 2016

[THE INVESTOR] Hyundai Motor Group’s automobile sales appears likely to record the first on-year drop since 1998.During the first three quarters, Hyundai Motor and Kia Motors sold slightly over 5.62 million units, down 1.8 percent compared to the same period last year.At the rate seen so far this year, not only is the group unlikely to meet the 8.13 million unit target, but will also see its annual sales fall below that of last year. In 2016, the auto giant sold over 8.01 million units around th

Oct. 13, 2016

[THE INVESTOR]] KEB Hana Bank announced on Oct. 12 that it has raised US$650 million from foreign-currency denominated bonds. They include US$350 million worth of 3-year bonds, and US$ 300 million of 5-year bonds. The 3-year bond’s yield is 0.85 percentage points higher than 3-year US Treasury bonds, while that of 5-year bond is 0.95 percentage points higher than that of US Treasury bonds of same maturity. The bank said that it increased the total amount by US$50 million due to high demand from

Oct. 12, 2016