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Finance

NH Investment Securities recommends Shin Jae-wook and Bae Gwang-soo as next co-CEOs

NH Investment Securities recommended Shin Jae-wook, head of the real estate and infrastructure business division, and Bae Gwang-soo, head of the wealth management division, as candidates for its next chief executives. The nominations are part of a move from a sole CEO system to a co-CEO structure. The firm plans to seek board approval and hold an extraordinary shareholders meeting on June 30 to appoint the CEOs.

Finance

NH Investment Securities to raise 400 billion won from Nonghyup Financial to strengthen IMA business

NH Investment Securities will launch a 400 billion won paid-in capital increase allocated to its largest shareholder, NH Nonghyup Financial Group. The move aims to strengthen capital to expand its comprehensive investment account (IMA) business, corporate finance linked to it and venture-capital investments. The firm said its net capital ratio was 159.3 percent in the first quarter. Part of the funds will also be used to expand retail credit provision limits.

Finance

Toss Bank launches gold savings service with NH Investment Securities

Toss Bank said on Thursday it will launch a “gold savings” service within its “wealth building” offering in partnership with NH Investment Securities. The move expands the service beyond products such as domestic and overseas bonds and negotiable certificates of deposit to include alternative assets such as gold. The service is based on the KRX Gold Market and applies a tax exemption on trading gains, though fees and value-added tax on physical withdrawal apply.