The Financial Supervisory Service of South Korea told Bloomberg it plans to punish the local unit of Wall Street firm Goldman Sachs Group Inc for breaking rules on the sale of financial products.
According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.
Following a nuclear deal reached in Geneva, the European Union has removed the ban on insuring tankers transporting Iranian oil. The EU also agreed to release USD4.2 billion in frozen oil assets and permit Iranian crude exports to continue at its current levels.
South Korea was reported to be a possible investor in Britain's nuclear power market after the Asian country hired Lloyd's Register to evaluate its nuclear reactors, according to a director at Lloyd's.
Japan-based Secured Capital, the real estate arm of private equity firm PAG, raised USD1.5 billion to invest in real estate and debt opportunities in Asia.
GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.
Woori Finance Holdings Co.'s share values fell by nearly 3% to KRW12,000 per share.
Goldman Sachs, as well as a number of hedge funds or investment firms, is subject of a review by Korean regulators for compliance with local laws.
The Bank of Korea recently announced a USD5.4 billion currency swap deal with the United Arab Emirates for a period of three years.
US and South Korea discussed the possibility of delaying wartime control transfer to South Korea's troops amidst fears of North Korea's weapons of mass destruction capabilities.
Boeing may well be the winner of the KRW 8.3 trillion or USD 7.7 billion South Korea fighter jet tender, a source told Reuters.
The South Korean government said it received preliminary offers for two regional banks from Woori Finance Holdings.
A source told Reuters that Boeing Co would be picked as South Korea's supplier for its fighter jets in a KRW8.3 trillion or USD7.64 billion agreement.
The two Koreas agreed to resume operations of the Kaesong industrial zone on a trial basis starting Monday.
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