MBK Partners, one of Asia’s largest private equity firms, is under intense scrutiny for its decision to place Homeplus, Korea’s second-largest hypermarket chain, under corporate rehabilitation with investors anticipating a bumpy road ahead for the company’s debt restructuring. Since the Seoul Bankruptcy Court approved Homeplus’ entry into a court-led rehabilitation program earlier this month, its largest shareholder, MBK, has faced mounting criticism for failing to take responsibility for the co

Acting President Choi Sang-mok said Tuesday that South Korea and the US will soon enter into detailed negotiations on new US tariffs, as the country's economy is likely to be directly impacted by President Donald Trump's tariffs. Choi noted that Trump threatened to exert all-out pressure on Korea in a recent speech to the US Congress, labeling the Korea-US trade relationship as "unfair" and calling for the revocation of federal subsidies promised to semiconductor companies. “The arrow of Trump's

Hana Financial Group is poised for a potential boost in shareholder returns as its chair is on track to secure his second term this month. Glass, Lewis & Co., one of the world's two most influential proxy advisers, recommended that investors vote for the reappointment of Hana Financial Group Chairman and CEO Ham Young-joo, according to a local report on Monday. Ham is set to secure another three-year term after being recommended as the sole candidate for the top job. His new term would extend th

MBK Partners, South Korea’s largest private equity firm, is in discussions to acquire the bio division of food giant CJ CheilJedang, according to sources on Friday. Preliminary negotiations have valued the unit between 5 trillion won ($3.46 billion) and 6 trillion won, though the two sides have yet to reach a final agreement on pricing. CJ CheilJedang’s bio division specializes in producing food seasoning materials and feed-grade amino acids using microorganisms. It holds the largest global mark

Supermarket chain's credit woes raise doubts over MBK's hostile takeover of Korea Zinc MBK Partners, one of the largest private equity firms in Asia, is facing backlash over its incompetence to operate its major portfolio firm Homeplus, which entered court-led rehabilitation proceedings amid potential insolvency. On Tuesday, Homeplus filed for corporate rehabilitation with the Seoul Bankruptcy Court for possible insolvency following a series of credit rating downgrades. MBK acquired Homeplus in

US House of Representatives members and other political figures have expressed concerns over private equity firm MBK Partners' attempt to acquire Korea Zinc, the world's largest zinc smelter, arguing that the deal could expand China's control over critical minerals and undermine US national security. Rep. Mariannette Miller-Meeks, a Republican member of the US House of Representatives and a member of the House Committee on Energy and Commerce, urged the US Congress and administration to collabor

Joyce Chang, chair of global research at JPMorgan, expects Korea’s central bank to cut its policy rate by 75 basis points this year amid concerns over the Korean economy’s slowing growth and repercussions from the US administration’s tariff policy. “We expect that the Bank of Korea’s terminal policy rate to fall to around two percent, given some of the growth concerns and the negative impacts from US tariff shocks,” she said during a webinar hosted by Seoul-based Institute for Global Economics o

New visa initiative to boost Korea’s high-tech workforce with global talent The South Korean government has announced plans to establish a 50 trillion won ($34.4 billion) fund over the next five years to bolster strategic technology industries, including semiconductors, secondary batteries and artificial intelligence, amid intensifying global tech competition. “Competition is escalating as the entire industry undergoes rapid transformation centered around cutting-edge technologies. In this swift

Controversy over the environmental pollution by Young Poong, the world’s sixth-largest zinc producer, has persisted despite the suspension of operations at its Seokpo refinery for discharging polluted wastewater without authorization. On Feb. 26, the Seokpo refinery in North Gyeongsang Province ceased operations for 58 days, after being ordered to do so by the Supreme Court for violating water conservation laws. The ruling upheld a 2019 administrative disposition against the refinery for illegal

Fitch expects Korea’s presidential election in Q2; prolonged political uncertainty could prompt negative rating action The US Trump administration’s tariff policies could dampen the South Korean economy, but they are not expected to harm the country’s credit status in the short term, according to Fitch Ratings' sovereign analyst. “One year or a couple of years of slow growth due to tariffs won’t impact Korea’s credit profile,” Fitch Ratings Asia Pacific Sovereign Rating Director Jeremy Zook said

As the fate of embattled President Yoon Suk Yeol is likely to stay in limbo for longer than expected, concerns are mounting over pending economic measures that need to be addressed to rev up the country’s slowing growth. After a failed parliamentary vote on his impeachment Saturday, Han Dong-hoon, leader of the ruling People Power Party, stressed Sunday that he would push for the president’s resignation. The main opposition Democratic Party called for Yoon to immediately step down, t

Shinhan Financial Group has embarked on a large-scale CEO reshuffle by recommending new candidates for the top positions of nine out of 13 affiliates on Thursday. Jung Sang-hyuk, the 60-year-old CEO of the group’s flagship lender Shinhan Bank, was reappointed for his second term, which will last two years. The personnel changes were focused on three pillars -- improving the organizational structure through high-intensity personnel reform, accelerating the implementation of a consistent f

S&P Global Ratings said Wednesday that South Korea’s sovereign credit rating won’t be hurt by the brief imposition of martial law in the country the previous night. “There is no substantial reason to change Korea’s current rating since the martial law was relieved in a few hours and the country’s economy is fundamentally sound,” Kim Eng Tan, senior director of Asia-Pacific sovereign ratings at S&P, said during a seminar jointly held with NICE Investors

South Korea's bourse operator Korea Exchange has decided to open stock markets as usual amid concerns over market volatility induced by President Yoon Suk Yeol's brief imposition of an emergency martial law declaration. Stock market indicators, which plummeted due to President Yoon's sudden declaration, showed slight stabilization after parliament voted in favor of a motion demanding the lifting of martial law. As of 2:30 am, the Kospi 200 overnight futures and options index stood at 322.80, dow

The Korean won fell to a two-year low against the US dollar after President Yoon Suk Yeol declared emergency martial law late Tuesday. The Korean currency weakened as much as 1.4 percent and touched 1,430 won per dollar during the nighttime offshore trading. The decline followed a late-night television address by President Yoon, who claimed the move was necessary to protect the country from "anti-state" forces. The Korean won sharply dropped right after Yoon’s declaration at arou