South Korea

Punishment looms for Goldman Sachs Group Inc's S.Korea unit

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.

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US ranks 31st in Internet speed list, nationwide Google Fiber network to cost USD11 billion

According to, 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.

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South Korean government upsizes IBK block sale to USD250 million

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.

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EU lifts ban on tankers transporting Iranian crude

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.

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Lloyd's Register director says South Korea is a possible investor in Britain's nuclear industry

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.

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Secured Capital closes USD1.5 billion for Asian investments

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.

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South Korean firms enter into joint venture projects with Arabtec

GS Engineering and Construction and Samsung Engineering form joint ventures with Arabtec separately.

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Woori share values fall again

Woori Finance Holdings Co.'s share values fell by nearly 3% to KRW12,000 per share.

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South Korea's Financial Supervisory Service investigates Goldman Sachs

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.

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Currency swap between South Korea and UAE finalized

The Bank of Korea recently announced a USD5.4 billion currency swap deal with the United Arab Emirates for a period of three years.

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US, South Korea consider delay of US wartime command to SoKor's troops

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.

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Boeing is possible winner for South Korea fighter jet tender- source

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.

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South Korea gets first round bids for two regional banks

The South Korean government said it received preliminary offers for two regional banks from Woori Finance Holdings.

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Boeing nearing close of South Korean fighter jet deal - source

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.

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NoKor, SoKor agree on reopening of Kaesong industrial park on trial basis

The two Koreas agreed to resume operations of the Kaesong industrial zone on a trial basis starting Monday.

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