June 12, 2025

Korean Financial Markets Daily - 2025-06-11

☕ Morning Espresso - Korean Credit Market Daily intelligence from YNA, Einfomax & TheBell June 11, 2025 - 23:44 KST --- ## ✨ HIGHLIGHTS ### 📊 News Reported by Multiple Sources KCGI Completes Acquisition of Hanyang Securities Sources: YNA, EINFOMAX The Korean financial regulator, the Financial Services Commission (FSC), has approved KCGI's acquisition of a 29.59% stake in Hanyang Securities for 2.203 trillion won. This marks the final step in KCGI's long-running bid to take over the securities firm. With the acquisition, KCGI, led by activist investor Kang Sung-bu, will now be able to expand its asset management and securities businesses, forming a comprehensive financial group. The approval comes after a tumultuous process, as KCGI had to overcome the previous sale of Hanyang Securities to the OK Group, which was later reversed. Read More: YNA | EINFOMAX --- S-Oil Halts Hiring Amid Worsening Business Conditions Sources: YNA, EINFOMAX S-Oil, a major South Korean oil refiner, has abruptly halted its ongoing process to hire new entry-level employees, citing deteriorating business environment. The company had already conducted personality assessments for the applicants and was planning to proceed with interviews, with the new hires expected to join next month. However, S-Oil has now informed the candidates that it is canceling the entire recruitment drive due to the uncertain economic conditions impacting its operations. This decision comes as a surprise, as the company was targeting double-digit additions to its retail sales workforce. The sudden halt in hiring reflects the challenges S-Oil is facing amid the broader market downturn, which is forcing the company to reevaluate its staffing needs and priorities. Read More: YNA | EINFOMAX --- Hyundai Steel Shutters Pohang Plant Amid Slump Sources: YNA, EINFOMAX Hyundai Steel has announced the indefinite shutdown of its Pohang 2 plant due to a severe downturn in steel demand. The plant had previously been slated for closure last year but the decision was reversed. Now, with production volumes plummeting, the company has been forced to take the plant offline completely. This move comes as Hyundai Steel also looks to sell off its Incheon rebar factory and its Pohang 1 plant's midsize business unit, underscoring the deep challenges facing the Korean steel industry amid the ongoing market slump. Read More: YNA | EINFOMAX --- Antitrust Approves Daemyung Sonnet-T'way Merger Sources: YNA, EINFOMAX The Korea Fair Trade Commission has approved the acquisition of T'way Air by hotel and resort group Daemyung Sonnet. The merged entity plans to leverage synergies between Daemyung's hospitality business and T'way's aviation operations, with a focus on strengthening T'way's financial stability and flight safety. Daemyung will appoint a new 9-member board of directors with expertise in aviation, management, and finance at T'way's upcoming extraordinary shareholder meeting on June 24. The merger is still subject to regulatory approval from the Ministry of Land, Infrastructure and Transport for Daemyung's suitability as a major shareholder. Read More: YNA | EINFOMAX --- Samsung Fire Expands Stake in Lloyd's Insurer Canopius Sources: YNA, EINFOMAX Samsung Fire & Marine Insurance has invested an additional $570 million to increase its stake in the UK-based Lloyd's of London insurer Canopius to 40%. This move solidifies Samsung Fire's position as the second-largest shareholder and establishes a joint management structure with Canopius' majority owner, the US private equity firm Centerbridge Partners. The expanded investment will allow Samsung Fire to gain more influence over Canopius' strategic decisions and operations, strengthening its global market presence. Canopius, which is ranked 5th among Lloyd's insurers, reported revenues of $3 billion at the end of last year, indicating significant growth potential that Samsung Fire aims to capitalize on through this strategic partnership. Read More: YNA | EINFOMAX --- ## ⏰ NEWS TIMELINE 08:10 - Treasury Futures Rise Amid Easing US CPI Concerns...3-Year Up 13 Ticks Source: EINFOMAX Treasury futures rose amid easing concerns over the US consumer price index. According to the Seoul bond market on December 12, the 3-year Treasury futures closed at 107.32, up 13 ticks from the previous week's closing price. Foreigners were net buyers of 10 contracts, while financial investment firms were net sellers of 20 contracts. The 10-year Treasury futures rose 26 ticks to 118.27. Foreigners and financial investment firms each sold 11 contracts. Trading volume remained low, with only 88 contracts for the 3-year and 45 contracts for the 10-year futures. Meanwhile, US Treasury yields across the board declined during the same period. The yield on the 10-year US Treasury note fell from the previous trading day's New York market close. Read More: EINFOMAX --- 07:25 - Chief Economic Growth Advisor Hah Joon-kyung: * Source: EINFOMAX* As the Yoon Suk-yeol government pursues aggressive stimulus measures to aid economic recovery, there is growing interest in the policy mix between fiscal and monetary policy. In this context, the solution proposed earlier by a key economic advisor to President Yoon is drawing attention. According to the Korea Development Institute (KDI) Economic Education and Information Center on May 11, Hah Joon-kyung, the Chief Economic Growth Advisor, stated in a January article in 'Nara Economy' that Read More: EINFOMAX --- 07:03 - [Schedule of the Ministry of Economy and Finance and Other Economic Ministries Today] Source: EINFOMAX [Ministry of Economy and Finance] ▲ 10:00 1st Vice Minister Price-related Vice-Ministerial Meeting (closed-door) ▲ 14:00 1st Vice Minister Real Estate Market and Supply Situation Review TF (closed-door) ▲ 09:00 2nd Vice Minister Vice-Ministerial Meeting (closed-door) ▲ 17:00 2nd Vice Minister Fiscal Execution Review Meeting (closed-door) ※ Fiscal Trends for June 2025 (10:00) ※ 47th Price-related Vice-Ministerial Meeting (11:00) ※ 17th Real Estate Market and Supply Situation Review TF (16:00) ※ 16th Interagency Fiscal Execution Review Meeting (17:00) [Bank of Korea] ▲ 10:00 Governor Inaugural Ceremony ▲ 11:00 Governor Monetary Policy Board Meeting (non-public) ▲ Deputy Governor Business Trip (Madrid, Spain / New York) ※ 75th Anniversary Commemorative Address (10 Read More: EINFOMAX --- 06:26 - U.S. Treasury "May Extend Tariff Suspension for Cooperative Negotiation Partners" Source: EINFOMAX The United States may extend the suspension period for reciprocal tariffs if

[Newsletter truncated due to length - see source links for full coverage]