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Finance

Lee Chan-jin asks broker CEOs to step up shareholder returns and investor protection

Lee Chan-jin (이찬진), head of South Korea’s Financial Supervisory Service, urged securities firm CEOs to expand shareholder returns and social contributions in line with earnings growth and to strengthen investor protection. He said the industry could not secure its future without investor trust. Lee criticised shareholder return efforts as falling short of market expectations and cited wide gaps in dividend payout ratios among major brokers.

Finance

Kakao woos shareholders on spinoff, targets 1 trillion won AI revenue and 300 billion won buyback cancellation

Kakao is seeking to win over retail shareholders ahead of a planned corporate spinoff into continuing company KakaoX and new unit KakaoAI. KakaoAI aims to begin monetising AI services in 2027 and targets more than 1 trillion won in AI revenue by 2030. KakaoX plans to use gains from selling its stake in Dunamu to buy back and cancel 300 billion won of treasury shares over three years after the split.

Finance

SOOP to cancel 18.9 billion won of treasury shares, 2.7 percent of shares outstanding

SOOP will cancel treasury shares equivalent to about 2.7 percent of its total shares outstanding. The company said its board on Sept. 4 decided to cancel 306,375 common shares it holds. The planned cancellation amount is about 18.9 billion won based on book value, with the cancellation scheduled for Sept. 10. SOOP said the move will not reduce its capital stock and is part of previously flagged plans to use its treasury shares.