Journalist

Ryu So-hyun
  • Korea Financial Investment Association Launches Forum to Map Next Decade for Capital Markets
    Korea Financial Investment Association Launches Forum to Map Next Decade for Capital Markets The Korea Financial Investment Association has formed the K-Capital Markets Forum and begun talks on a mid- to long-term strategy to design the next decade for South Korea’s capital markets, looking beyond efforts to address the so-called Korea discount. The group said it aims to produce a roadmap that goes beyond policy suggestions and can lead to institutional reforms and legislation. The association held a launch ceremony for the forum on the 27th in Seoul’s Yeouido district and started full-scale discussions to draw up a 10-year blueprint. The forum’s stated goals are to craft a long-term growth strategy and derive a step-by-step implementation roadmap. Beginning in May, the forum will meet monthly to discuss key agendas including innovation-led growth and job creation; expanding access based on digital finance; retirement income security and long-term asset building; modernization of market infrastructure; stronger global competitiveness; and investor protection and market trust. The association said the framework targets both household wealth building and national economic growth. The forum has eight members: Hwang Seong-yeop, chairman of the Korea Financial Investment Association, who will serve as chair; Kim Se-wan, president of the Korea Capital Market Institute; Shin Je-yoon, chair of Samsung Electronics’ board of directors; Yoo Sang-ho, senior vice chairman of Korea Investment & Securities; Jeong Sang-gi, former vice chairman of Mirae Asset Global Investments; Jeong Sun-seop, a professor at Seoul National University School of Law; Choi Un-yeol, chairman of the Korean Institute of Certified Public Accountants; and Hong Seong-guk, former president of Daewoo Securities. The Korea Capital Market Institute will support the forum’s work. The association said a working-level consultative body, expert working groups and advisers — about 100 experts in total — will participate to reflect views from the field. The results will be compiled into a policy report after a year of intensive review and are to be submitted to the government and the National Assembly in the first half of 2027. Also attending the launch ceremony were forum members and representatives of the expert group, including Lee In-hyung, vice president of the Korea Capital Market Institute; Lee Hyo-seop, head of the financial industry office; Moon Seong-hoon, a professor at Hallym University; Seo Jeong-ho, managing attorney at The Wiz; Song Chang-young, managing attorney at Sehan; Oh Young-pyo, managing director at Shinyoung Securities; Yoon Seon-jung, a professor at Dongguk University; and Lee Jong-seop, a professor at Seoul National University. Hwang said, “In a rapidly changing economic environment, now that we have lifted the shadow of the Korea discount and shifted to a premium, this is the right time to prepare for a quantum jump.” He added, “Through the K-Capital Markets Forum, we plan to move forward step by step, with humility, toward the next 10 years for K-capital markets.” Kim said, “This forum will play an important role in raising trust in Korea’s capital markets and presenting a future strategy that benefits both investors and market participants.” * This article has been translated by AI. 2026-04-27 11:30:17
  • Hotel Shilla hits 52-week high on Q1 earnings surprise, Lee Boo-jin share purchase plan
    Hotel Shilla hits 52-week high on Q1 earnings surprise, Lee Boo-jin share purchase plan Hotel Shilla shares rose more than 4% in early trading Monday after the company reported stronger first-quarter results and said President Lee Boo-jin would buy company stock.  According to the Korea Exchange, Hotel Shilla was trading at 64,900 won as of 9:44 a.m., up 2,600 won, or 4.17%, from the previous session. The stock climbed as high as 67,800 won intraday, a 52-week high. The move reflected expectations for improved earnings and stronger management accountability. Hotel Shilla said in a filing on April 24 that its consolidated operating profit for the first quarter was provisionally tallied at 20.4 billion won, swinging to a profit from an operating loss of 2.5 billion won a year earlier. Revenue rose 8.4% to 1.0535 trillion won, and net profit also returned to the black at 6.0 billion won. Lee will buy about 20 billion won worth of the company’s shares on the open market from Monday through April 30. The company previously disclosed the plan on March 26, saying it reflected a commitment to responsible management and enhancing shareholder value. Mirae Asset Securities analyst Bae Song-yi said the company is in a period when investors can hold higher expectations for results from the second quarter and beyond. She said inbound demand is growing structurally, bringing the peak season forward compared with past years, and that duty-free market conditions have already begun to improve meaningfully since March. * This article has been translated by AI. 2026-04-27 09:58:05
  • Shinhan raises Hyosung TNC target price 42% on spandex market recovery
    Shinhan raises Hyosung TNC target price 42% on spandex market recovery Shinhan Investment Corp. on Sunday raised its target price for Hyosung TNC from 600,000 won to 850,000 won, a 42% increase, citing expectations for improving industry conditions. It kept its “buy” rating. Analyst Lee Jin-myeong said the higher target reflects an upward revision to 2026 earnings estimates, up 46%, as the upcycle gains momentum. He said the stock has surged 147% since the start of the year but remains undervalued compared with Huafon, the world’s No. 2 spandex maker. Shinhan said the spandex market has entered a clear upswing. As of April, China’s spandex operating rate rose to 86% from 80% at the end of last year, while inventory days fell to 22 from 39. Prices climbed to 29,000 yuan per ton from 23,000 yuan, which Shinhan said confirms improving supply-demand conditions. Hyosung TNC, the world’s top spandex producer, is expected to see the strongest profit leverage as conditions improve, supported by pricing power and cost competitiveness, Shinhan said. It estimated 2026 operating profit at 596.3 billion won, up 137% from a year earlier. First-quarter results also beat market expectations. Operating profit came to 86.2 billion won, up 93% from the previous quarter and above the consensus estimate of 80.7 billion won. The spandex/PTMG segment posted 77.3 billion won in operating profit, up 60%, leading the gain. Sales volume rose 2% despite the Lunar New Year holiday, helped by steady demand and inventory building, while profitability improved as spandex prices rose more than raw material costs. Shinhan said the improvement is likely to continue in the second quarter, forecasting operating profit of 138.7 billion won, up 61%, with room for another upside surprise. It cited entry into the peak season, expanding inventory demand and a widening increase in spandex prices. * This article has been translated by AI. 2026-04-27 08:52:52
  • NH Investment & Securities to Decide Governance Overhaul, Likely to Adopt Co-CEO Structure
    NH Investment & Securities to Decide Governance Overhaul, Likely to Adopt Co-CEO Structure NH Investment & Securities was set to decide on a governance overhaul at a board meeting on Thursday, with the company widely expected to shift to a co-CEO structure in which two chief executives each hold independent authority. The decision is also expected to accelerate a stalled process to pick the next CEO. According to the financial investment industry, the firm planned to convene another special board meeting Thursday, following one held the previous day, to discuss whether to proceed with the overhaul. A move to the independent co-CEO model has been viewed as the most likely outcome. The company plans to resume the CEO selection process once the governance structure is decided. The search has been clouded by uncertainty. Ahead of its regular shareholders meeting in March, the company decided to reconsider its governance model first and excluded the agenda item to appoint a CEO. As it reviewed multiple scenarios — including a single CEO, joint CEOs and independent co-CEOs — the selection process effectively paused. The executive candidate recommendation committee later re-examined and expanded the candidate pool, but with no decision on the governance direction, it remained unclear even how to narrow the list. Roles would differ depending on whether the company adopts a single-CEO or multi-CEO structure. Under a single-CEO model, an executive capable of overseeing business lines such as investment banking had been seen as a leading type of candidate. As the independent co-CEO option gained traction, a plan to split management support and business operations under separate CEOs emerged, widening the pool to include current and former executives. The company has cited as its official rationale “the need to upgrade risk management systems amid rapid changes in capital markets and the expansion of business scale,” saying the goal is more stable operations in a fast-changing market environment. Market participants, however, have largely viewed the move as more than a management strategy. NH Investment & Securities’ largest shareholder is NH NongHyup Financial Group, which is controlled by the National Agricultural Cooperative Federation. In the 2024 CEO selection process, Yoo Chan-hyung, a former vice chairman from the federation, was placed on the shortlist. This year as well, ahead of the March regular shareholders meeting, a figure seen as close to the federation was mentioned as a possible next leader, with the federation’s preferences seen as a variable in the selection. Against that backdrop, some interpret the governance overhaul talks as aimed less at efficiency and more at balancing interests. Some have also said that if the firm adopts the independent co-CEO structure, it could raise the chances of CEO Yoon Byung-woon being reappointed, since it could allow a compromise that places a federation-backed figure alongside an internal company executive.* This article has been translated by AI. 2026-04-24 14:11:09
  • South Korea passes cornerstone investor rules to curb IPO sell-offs
    South Korea passes cornerstone investor rules to curb IPO sell-offs South Korea’s financial authorities are moving to address recurring post-IPO short-term selling and sharp price drops by overhauling rules aimed at making IPO pricing more rational and expanding medium- to long-term investment. The Financial Services Commission said April 23 that amendments to the Capital Markets and Financial Investment Services Act, including the introduction of a cornerstone investor system, passed the National Assembly plenary session the previous day. The amendments create a new cornerstone investor framework that allows a portion of IPO shares to be allocated in advance to institutional investors on the condition they agree to a lockup of at least six months. The goal is to secure long-term oriented institutions ahead of listing, reduce large sell orders immediately after trading begins and ease price volatility. The FSC said shares allocated to cornerstone investors will be adjusted from the institutional tranche and will not affect the retail allocation ratio of 25%, seeking to minimize fairness concerns. It said it will also reflect internal control standards in subordinate rules to prevent conflicts of interest. The amendments also introduce a pre-demand forecasting system, allowing underwriters to gauge institutional demand before filing a securities registration statement — a step that had been effectively unavailable due to legal concerns. The FSC said this should help underwriters reflect market demand from the early stage of setting an initial indicative price band, improving the reasonableness of IPO pricing. Authorities said the changes target a persistent “quick-flip” pattern in the IPO market, where money seeking short-term gains has crowded into offerings, prices have surged on the first trading day and then fallen amid continued selling. IPO prices have also often been driven more by supply and demand than by companies’ medium- to long-term value, undermining market confidence, the FSC said. The amendments are set to take effect six months after promulgation. The government said it will design detailed rules after collecting views from institutional and retail investors and underwriters. Financial authorities said, “By introducing the cornerstone investor system, we expect to secure stable medium- to long-term institutional investors in advance, enhance trust in IPOs, and improve the ‘IPO horror stories’ such as steep post-listing price drops,” adding that they will “swiftly push ahead with revisions to subordinate regulations by gathering feedback from market participants.”* This article has been translated by AI. 2026-04-23 18:21:16
  • Retail Trading and Wealth Management Lift Korean Brokerages as IB Lags
    Retail Trading and Wealth Management Lift Korean Brokerages as IB Lags With earnings season getting underway, South Korea’s securities firms are expected to post sharply improved first-quarter results, driven mainly by retail businesses such as brokerage trading and wealth management, analysts say. A stock-market rally has boosted trading value, which feeds directly into fee income. Investment banking, by contrast, has grown more slowly, reinforcing a shift in profit engines from IB to retail, according to market watchers. As of the 23rd, FnGuide estimates combined first-quarter net profit for five listed firms — Korea Financial Group, Mirae Asset Securities, NH Investment & Securities, Samsung Securities and Kiwoom Securities — at about 2.82 trillion won. That would be double the 1.41 trillion won posted a year earlier. Combined operating profit is estimated at 3.77 trillion won, up 106.6% from the same period last year. The improvement is tied to increased inflows into equities. The Korea Exchange said average daily trading value in the KOSPI market in the first quarter totaled 29.65 trillion won, up 78% from 16.56 trillion won in the fourth quarter of 2025. Because higher turnover translates into higher brokerage commission revenue, trading value is closely linked to securities firms’ earnings. Within retail, wealth management is expected to stand out. Most large firms reportedly met more than half of their annual WM revenue targets in the first quarter alone, and some are said to have already reached their full-year goals. IB, often described as the industry’s marquee business, is losing relative weight. While demand for corporate finance has remained steady, its earnings growth has not kept pace with retail, analysts say. The pattern has been evident since last year, when the market rally began. Average daily KOSPI trading value rose from 10.7 trillion won in 2024 to 16.9 trillion won in 2025, and major securities firms posted strong results over the same period. Higher turnover and greater participation by individual investors helped drive a surge in brokerage revenue. Last year, major firms’ brokerage revenue rose about 30% to 40% from a year earlier, while IB revenue growth was around 10%, according to the analysis. A downturn in the real estate project financing, or PF, market was cited as a factor. Industry officials expect the retail-led profit structure to persist for now, though some warn it could deepen polarization among firms. Large brokerages can capture trading flows with broad client bases and strong platforms, while small and midsize firms face limits in capital and brand strength. About 75% of the domestic retail market is concentrated among the top 10 large securities firms, while smaller firms account for only about 10%, the report said. Yeo Mil-lim, a senior researcher at the Korea Capital Market Institute, said the sustainability of PF-centered business models has weakened as PF risks materialize and regulation tightens. Large firms, Yeo said, are diversifying by strengthening WM-dedicated teams and family office capabilities, expanding profit and loss tied to financial products, increasing overseas branches and boosting global investment. * This article has been translated by AI. 2026-04-23 16:22:05
  • T’way Holdings Hits 52-Week Low After Announcing 5-for-1 Capital Reduction
    T’way Holdings Hits 52-Week Low After Announcing 5-for-1 Capital Reduction T’way Holdings shares slid into a 52-week low Thursday as investors reacted to the company’s announcement of a capital reduction without compensation.  According to the Korea Exchange, as of 2:26 p.m., T’way Holdings was trading at 268 won, up 37 won, or 12.13%, from the previous session. The stock fell as low as 253 won during the session, marking a new 52-week low.  In a filing Wednesday, the company said it decided on an 80% capital reduction by consolidating five common shares into one. After the reduction, paid-in capital will fall to 11.3 billion won from 56.6 billion won, and the number of shares outstanding will drop to 22.63 million from 113.16 million. The company said the move is intended to improve its financial structure by offsetting accumulated losses.  A capital reduction without compensation lowers capital by cutting the number of shares to eliminate accumulated deficits. Because it does not bring in cash or directly improve operations, it is often viewed as a sign of financial strain and can weigh on share prices.  The record date for the reduction is July 3, and the relisted shares are scheduled to begin trading July 24. Trading in the stock will be suspended July 22-23 under the timetable. The plan is to seek final approval at a shareholders meeting scheduled for June 19. * This article has been translated by AI. 2026-04-23 14:43:00
  • South Korea watchdog refers executives to prosecutors over alleged sham sale, hidden debt
    South Korea watchdog refers executives to prosecutors over alleged sham sale, hidden debt South Korea’s financial authorities said they have uncovered alleged unfair trading by executives at a listed company during a push to split and relist the firm, and have referred the case to prosecutors. The Financial Services Commission’s Securities and Futures Commission said Thursday it decided at its 8th regular meeting on April 22 to file a criminal complaint against four people, including executives of Company A, for alleged violations of the Capital Markets Act’s ban on fraudulent trading. The commission said the suspects are accused of artificially propping up Company A’s value by making it appear its financial condition would improve after selling a troubled subsidiary at an inflated price to a third party unrelated to Company A. According to the authorities’ findings, executives at Company A and its subsidiary, Company B, planned to sell loss-making Company B as part of a plan to split Company A into two listed companies and relist them. In the process, they allegedly used funds from Company A’s largest shareholder and an affiliate to have a paper company, Company C — with no real business operations or financial capacity — acquire Company B. The commission said Company A continued to support Company B even after the sale by providing ongoing debt guarantees and loans, including operating funds. The commission said the suspects intentionally left large debts off financial statements, inflating the value of Company B’s shares. Authorities said the group then made it look as if Company B had been sold at a high price to an unrelated third party, suggesting Company A’s finances had improved, and succeeded in the split-and-relisting plan. The commission said it confirmed allegations that Company A’s share price surged sharply for a time and that the suspects reaped substantial illicit gains. The commission noted that accounting violations tied to omitting Company B’s liabilities from Company B’s financial statements and Company A’s consolidated financial statements had already led to measures in July last year, including administrative penalties and a notice to prosecutors. Under the Capital Markets Act, using fraudulent means in trading financial investment products, or making false statements or omitting material information to obtain money or other property gains, can be punished by at least one year in prison or fines of up to six times the illicit profit, the commission said. Financial authorities said they will keep a close watch for unfair trading and will thoroughly investigate confirmed violations and impose strict measures to help maintain market order. They also urged the public to actively report suspected unfair trading in capital markets. * This article has been translated by AI. 2026-04-23 14:15:18
  • Samsung Heavy Industries Hits 52-Week High on Strong Q1 Earnings Outlook
    Samsung Heavy Industries Hits 52-Week High on Strong Q1 Earnings Outlook Samsung Heavy Industries shares rose more than 6% on expectations of strong first-quarter results. As of 11:42 a.m. on April 23, the stock was up 2,050 won, or 6.45%, from the previous session at 33,850 won, according to the Korea Exchange. It climbed as high as 35,350 won intraday, marking a 52-week high. Investor buying appeared to follow upbeat forecasts ahead of the company’s first-quarter earnings release. FnGuide estimates Samsung Heavy’s consolidated operating profit for the quarter at 340.1 billion won and net profit at 238.8 billion won, up 176.34% and 164.94%, respectively, from a year earlier. Kim Yong-min, an analyst at Yuanta Securities, said his operating profit estimate above the consensus of 340 billion won reflects a higher share of revenue recognized from higher-priced work in the first quarter, even though the number of operating days did not change much from the previous quarter. He cited deliveries in the fourth quarter of last year of four low-priced LNG carriers and two container ships, which he said increased the proportion of higher-priced sales recognized in the first quarter. He also said the normalization of one-off wage-related costs booked in the fourth quarter of last year had a positive effect. * This article has been translated by AI. 2026-04-23 11:54:15
  • iM Securities Raises Unid Target Price 10% on Fertilizer Supply Concerns
    iM Securities Raises Unid Target Price 10% on Fertilizer Supply Concerns iM Securities on the 23rd raised its target price for Unid to 110,000 won from 100,000 won, citing expectations that global fertilizer supply disruptions will lift selling prices. It maintained a “buy” rating. Analyst Jeon Yu-jin said price increases have continued since the second half of 2025 as China’s potassium chloride supply tightened. She added that the Iran situation has disrupted supplies of nitrogen (N) and phosphate (P) fertilizers, expanding substitution demand for potassium (K) fertilizers. “Additional selling-price increases and higher sales volumes are expected,” she said. Unid posted first-quarter consolidated operating profit of 25.5 billion won, up 236% from the previous quarter, but slightly below the market consensus of 27.0 billion won. Operating profit at its South Korean unit rose 200% to 12.3 billion won on higher volumes after scheduled maintenance ended and the absence of one-off costs. A weaker won also supported profitability, the report said. Results improved sharply at the China unit. Sales volume dipped somewhat due to the Lunar New Year, but operating profit surged 373% to 12.3 billion won as caustic potash prices rose on tight potassium chloride supply and chlorine prices stayed firm. Losses in the chlorine business, a key drag in the past, are also narrowing quickly, it said. For the second quarter, iM Securities forecast operating profit of 35.0 billion won, up 37% from the prior quarter and above the market estimate of 32.3 billion won. It expects lower volumes in South Korea due to customers adjusting operating rates, but said that would be offset by higher volumes and prices at the China unit and continued strength in chlorine prices. The report also cited instability in the Middle East as a supportive factor. After the Iran situation, disruptions to supplies of nitrogen and phosphate fertilizers such as ammonia and urea have tightened the global fertilizer market. While not a perfect substitute, rising demand for potassium fertilizers could add to upward price pressure, it said.* This article has been translated by AI. 2026-04-23 08:06:19