Korea-owned TaylorMade for sale, valued at $3.5b

Poised to be nation's largest sports M&A deal, TaylorMade sale draws global bidders TaylorMade, one of the most coveted names in golf, is up for sale. Under the ownership of Korean private equity firm Centroid Investment Partners, the brand’s valuation has more than doubled in just four years, reaching an estimated 5 trillion won ($3.5 billion). According to industry sources, Centroid aims to finalize the sale within this year, with Middle Eastern sovereign wealth funds and top-tier global priva

March 6, 2025

Kakao Bank CEO wins fifth term, eyes global expansion

Yun Ho-young, 54, has been reappointed as CEO of Kakao Bank for a fifth term, reinforcing his leadership at South Korea’s leading internet-only lender, known for expanding its business beyond domestic borders, the company announced. On Tuesday, Kakao Bank, the banking arm of tech giant Kakao Corp., disclosed in a regulatory filing that its Executive Candidate Recommendation Committee had selected incumbent CEO Yun as the sole candidate for the position. His reappointment will be finalized at a s

March 5, 2025

Korea’s first alternative stock exchange goes live

Breaking Korea Exchange’s nearly 70-year monopoly, Nextrade offers extended trading hours, lower commission fees Nextrade, South Korea’s first alternative stock trading system, began operations on Tuesday, introducing a 12-hour trading system that extends beyond traditional market hours. The key advantages of trading on Nextrade include flexible trading hours and lower commission fees. However, a limited number of available stocks and low initial liquidity are cited as potential drawbacks. “We w

March 4, 2025

[Herald Interview] 'Development assistance is important for export-dependent Korea'

Strengthening international development assistance efforts could be a solution to lifting the stagnant Korean economy, as such aid helps create a global economic environment favorable to countries with an export-led growth model, according to the chief of the multilateral lender World Bank Group’s Korea office. “For a country like Korea that is engaged in trading in international markets and a lot of its wealth comes from access to export markets, creating a stable and prosperous g

Dec. 1, 2024

BOK makes surprise 2nd rate cut to boost growth

The Bank of Korea slashed the base interest rate for the second consecutive time Thursday, amid heightened uncertainties and slow growth. The cut surprised the market as the local currency has weakened against the dollar in recent weeks. The Bank of Korea’s monetary policy board trimmed the base rate by 25 basis points, bringing it down to 3 percent. Four of the other six monetary policy board members, not including BOK Gov. Rhee Chang-yong, agreed to the rate cut, while the remaining two

Nov. 28, 2024

[Global Finance Awards] Viva Republica transforms financial ecosystem

Viva Republica, operator of the mobile financial service Toss, has been paving the way in shifting the dynamics of the traditional financial environment with its innovative services. With the goal of providing a full range of financial solutions through a single super app, Toss, Viva Republica has introduced a wide array of cutting-edge services, from banking and brokerage to insurance and beyond. Toss made its name in August 2021 by not charging commissions for transfers, a feat that sho

Nov. 27, 2024

[India Forum] KoINDEX offers glimpse into Korea's commitment to India

NEW DELHI -- Indian employees at Korean conglomerates, including LG Electronics, Hyundai Motors and Orion, enthusiastically showcased their new technology and latest products at an industrial exhibition commemorating the 51st anniversary of diplomatic ties between Korea and India. KoINDEX, with G-FAIR 2024, gathered more than 600 exhibitors with over 3,000 booths from India and Korea to create new business opportunities at the Yashobhoomi convention center in Delhi, India, from Nov. 21-23. LG El

Nov. 26, 2024

[India Forum] Kintex hopes to become growth platform in India

NEW DELHI -- Kintex, the operator of the convention center of the same name in Korea, hopes to function as a platform for Korean companies aspiring to forage into the burgeoning Indian market. Kintex, short for the Korea International Exhibition Center, operates a convention center under the same name in Goyang, Gyeonggi Province. It is the largest convention facility in Korea with a 108,483 square meters of space for exhibitions. In 2018, the operator received a permit to operate India’s

Nov. 26, 2024

[India Forum] Daewoo E&C vows to build Koreatown in Haryana

GURUGRAM, India -- Daewoo Engineering & Construction Chairman Jung Won-ju, who doubles as chairman of Herald Media Group, expressed his hopes to establish India’s first Koreatown, the hub of Korean culture and commerce, in a meeting with high-profile Indian government officials. On Thursday, Jung met with Nayab Singh Saini, the chief minister of Haryana, to discuss the bilateral partnership between Korea and India. Haryana, a state in north-central India, surrounds Delhi on three sides

Nov. 26, 2024

[India Forum] Tapping into young, growing population

NEW DELHI, India -- Korea’s leading asset manager Mirae Asset Global Investments has been rapidly expanding its presence in the Indian market, riding on the country’s strong “appetite for Korean businesses.” Recognizing the country’s growth potential, the company was the first of its peers to enter the Indian market, setting up an office in Mumbai in 2006. “When Mirae Asset came to India, it was a 100 percent foreign-owned equity,” Shrinivas Khanolkar, h

Nov. 26, 2024