Standard Chartered (SC) Bank Korea said on April 22 that it was carrying out an event to offer a higher interest option for new customers of money market deposit accounts (MMDAs).The Seoul-based lender promises up to 3.5 percent of annual interest rates for MMDAs clients, who newly deposit balances
South Korea’s Mirae Asset Global Investments announced on April 17 that its U.S. affiliate Global X ETFs had named Ryan O’Connor as its new CEO effective on April 8.He is an ETF specialist with almost two decades of experience in the U.S. ETF market.Before getting aboard Mirae Asset, O’Connor was a
Mirae Asset Global Investments said on April 12 that the company’s two ETFs investing in U.S. stocks had topped 3 trillion won ($2.2 billion) in terms of assets under management, respectively.The two financial vehicles of the top-tier asset management company in South Korea are the TIGER S&P500 ETF
South Korea’s ABL Life Insurance announced on March 8 that the company had launched a new long-term care (LTC) insurance in order to offer customized services.The Seoul-based insurer noted that the new policy, dubbed The Care LTC Insurance, had won the hearts and minds of people in the era of fast a
The Korean Federation of Community Credit Cooperatives (KFCC) announced on Feb. 27 that the Seoul-based organization would help the country deal with the low birthrate.The KFCC noted that its corporate social responsibility outfit would continue to channel funds to support parents who give birth to
South Korea’s TongYang Life Insurance said on Feb. 22 that its new plan designed to cover all health-related risks had won the hearts and minds of customers.Launched earlier this year, the health policy is designed to cover not only surgery and treatment but also inspection, hospitalization, and nur
South Korea’s Mirae Asset Financial Group noted on Feb. 21 that its U.S. affiliate Global X ETFs had appointed financial services veteran Ryan O’Connor as its new chief executive officer.Mirae Asset said that O’Connor would start to lead the New York-headquartered provider of exchange-traded funds (
Horizons ETFs Management announced on Jan. 11 that it had reached a financial milestone of topping $30 billion Canadian Dollars ($22 billion) in terms of assets under management (AUM).Founded in 2005 in Canada, Horizons was acquired by South Korea’s Mirae Asset Financial Group in 2011. Thereafter, i
South Korea’s Samsung Electronics said on Jan. 9 that its operating profit in the fourth quarter of last year would be around $2.1 billion, down 35 percent from a year ago.The profit guidance is substantially lower than the market consensus. Brokerage houses at home and abroad estimated that the fig
South Korea’s biopharmaceutical giant Celltrion announced on Jan. 8 that the company would cancel around 1 percent of its outstanding shares worth about 500 billion won ($380 million).Specifically, the Incheon-based firm is scheduled to cancel some 2.3 million shares, or 1.05 percent, next week to r
The Year of Blue Dragon starts with a heart-warming story in South Korea as the nation’s self-made entrepreneur showed what the phrase “noblesse oblige” really means.Mirae Asset Chairman Park Hyeon-joo has opted to donate 25 percent of the stake in Mirae Asset Consulting to the financial group’s cha
The Korean Federation of Community Credit Cooperatives (KFCC) announced on Jan. 2 that it had held a workshop last month aimed at helping Fiji expand co-op financial models across the Pacific country.The capacity-building workshop took place at a KFCC training center in Cheonan, some 80 kilometers s
Foreign investors’ net purchases of South Korea’s Samsung Electronics shares amounted to a record-high $12.9 billion last year, according to the Korea Exchange on Jan. 1.This marks the largest offshore net buying of Samsung Electronics shares since the Korea Exchange started compiling related data i
The Korean Federation of Community Credit Cooperatives (KFCC) said on Dec. 27 that its organization in Uganda had received a permanent certificate from the Ugandan government.The Ugandan organization, dubbed the UFCC, reached the milestone by achieving permanent registration with Uganda’s Ministry o
South Korea’s financial watchdog said on Dec. 25 that it had levied the largest fine on two foreign investment banks for illegal short-selling activities here.The Financial Services Commission (FSC) decided to slap $20 million in fines on affiliates of BNP Paribas in Hong Kong and Korea, as well as
The Korean Federation of Community Credit Cooperatives (KFCC) said on Dec. 21 that Kim In would head the financial outfit for the next two years.The KFCC adopted a direct election to pick its 21st leader, and a total of nine candidates cast their hats into the ring, including Interim Chairman Kim.Ou
South Korea’s Tong Yang Life said on Dec. 21 that it had been recognized as a family-friendly company by the Ministry of Gender Equality and Family.The ministry offered the title to the Seoul-based insurer for the second time after 2020 in recognition of its efforts to help employees take care of th
The Academy of International Business (AIB) announced on Dec. 19 that it had selected South Korea’s Mirae Asset Group founder Park Hyeon-joo as the winner of a prestigious award.Park will receive the International Executive of the Year Award at the U.S.-based association’s annual conference in Seoul
South Korea’s Financial Services Commission (FSC) announced on Dec. 14 that the country had scrapped a decades-old regulation of obliging foreigners to register with local authorities to trade stocks in the domestic market.The country introduced the registration policy in 1992 to monitor foreign inv
South Korea’s leading investment banking firm Mirae Asset Securities announced on Dec. 12 that it had channeled around $370 million to snap up Sharekhan, a broking unit of BNP Paribas in India.Established in 2000, Sharekhan has become one of India’s top 10 brokerage houses with more than 3,500 emplo