NPS invests US$100 million in ride-hailing firm Kakao Mobility asiaasset.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asiaasset.com Daily Mail and Mail on Sunday newspapers.
The National Pension Service has committed $100 million to a TPG consortium that recently raised $116.8 million to invest in Kakao Mobility Co., South Korea s
Kakao s non-life insurance biz taking shape
Posted : 2021-06-10 16:39
By Lee Kyung-min
The Financial Services Commission (FSC) said Thursday that it has granted preliminary approval for Kakao s plan to set up a non-life digital insurance firm, clearing the way for the IT giant to expand in a niche online market easily accessed by young customers seeking short-term, low-interest loans.
The success of the insurance business will hinge on how fast and accurately the firm identifies subscriber demands, propped up by a targeted marketing scheme that best utilizes Kakao Talk, Kakao s messenger service with the largest market share.
The FSC said it approved Kakao s plan in a regular meeting Wednesday, as the firm met requirements on capital, business plan feasibility and sound management.
Record-setting IPO boom may spell scanty profits
S.Korean companies likely to raise about $30 billion in 2021 IPOs 3 HOURS AGO
(Getty Images Bank)
South Korean stock markets are on course to set a new record in the IPO volume with new issues estimated to exceed 30 trillion won ($27 billion) for the entire year of 2021, more than five times its previous record of 5.9 trillion won set in 2017. We may never see such an unprecedented boom in the IPO market again in the next decades, said a domestic brokerage company s investment banking head.
The IPO bonanza is expected to spur more money inflows into stock markets in a lack of alternative investments in the ultra-low interest era, and help the listed companies finance their business growth.