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Woori to re-enter brokerage business with acquisition of Korea Foss Securities

Woori Financial moves to acquire brokerage to fortify non-banking sector

Woori Financial Group has officially declared its bid to acquire a brokerage, a move to fortify its non-banking sector and offset a significant dent in profit last year, market watchers said Wednesday.

Woori mulls acquiring Korea Foss Securities

Woori Financial Group is actively considering the acquisition of local online brokerage firm Korea Foss Securities, in a move to add a missing puzzle piece -- a securities arm -- as a leading banking giant. "We are reviewing all potential companies (for acquisition) to make inroads into the (securities) industry, with the brokerage mentioned among them," the group's Chief Financial Operator Lee Sung-wo...

Woori Financial eyes acquisition of Korea Foss Securities

Korea Foss Securities, an online-exclusive brokerage company, is up for sale and Woori Financial Group is reviewing the acquisition of the firm.

Brokerages criticized for reaping massive profits from credit loans

Local brokerages are found to be making huge profits of hundreds of billions of won by offering credit loans to customers. According to Financial Supervisory Service (FSS) data submitted to independent lawmaker Yang Jung-suk, 29 brokerages obtained loans from the Korea Securities Finance Corp. (KSFC) at 3.02 percent interest, as of the end of September.

South Korea: Corporate Debt Is A Concern For The Economy

As the global economy faces headwinds and liquidity conditions are expected to become tighter, difficulties in corporate bonds and credit markets are expected to increase.

South Korea expands corporate bond-buying program amid credit crunch concern

S Korea expands corporate-bond buying program

S Korea expands corporate-bond buying program. South Korea’s bond market stabilisation fund will resume buying corporate bonds.

South Korea expands corporate bond-buying programme amid credit crunch concern

CNA – South Korea’s government will expand its corporate bond-buying programme among other liquidity supply measures amid growing worries about a credit crunch in bond and short-term money markets. The government will double the ceiling of its corporate bond-buying facility run by state-run banks to KRW16 trillion (USD11 billion), Minister of Economy and Finance Choo […]

Korea to extend short-selling ban until May 2

Posted : 2021-02-03 19:59 Updated : 2021-02-03 21:23 Financial Services Commission Chairman Eun Sung-soo, speaks during a press briefing at the Seoul Government Complex in Gwanghwamun, Wednesday. Yonhap 'Outright abolishment not an option given foreign, institutional investors make up 80% of the market' By Lee Kyung-min The Financial Services Commission (FSC) said Wednesday that it will extend a ban on short-selling until May 2, 90 days longer than its scheduled expiration date of March 15. The move is seen as a much-rushed measure designed to placate retail investors seeking collective action to vote in non-ruling party figures in the upcoming April mayoral by-election. Starting May 3, short-selling will be allowed for shares of the top 200 companies on the benchmark KOSPI and those of the top 150 firms on the secondary Kosdaq. They account for a respective 22 percent of 917 KOSPI-listed companies and 10 percent of 1,470 KOSDQ-listed ones. Shares of other less frequently traded companies will be permanently banned for short-selling.