Latest news with #Kyobo
Korea Herald
a day ago
- Entertainment
- Korea Herald
Think your Korean handwriting is good? Give Kyobo's contest a shot
11th Handwriting Contest for Foreign Nationals open through Aug. 17 Kyobo Book Center is inviting Korea's international community to put their Korean handwriting to the test. The 11th Handwriting Contest for Foreign Nationals is now open, offering participants a chance to showcase their Korean handwriting skills and celebrate the charm of the language — one beautifully written sentence at a time. The contest encourages participants to write out either a favorite line from a Korean book or lyrics from their favorite K-pop song. Submissions must be received by Aug. 17. The contest is open to all foreign nationals residing in Korea. Application forms are available at any Kyobo Book Center location. Participants may also download the form from the official website, then upload a photo of their handwritten entry, or submit it by post or email. Winners will be announced on Sept. 3, with an awards ceremony scheduled for Oct. 17. One grand prize winner will receive a Kyobo gift certificate worth 1 million won ($738), and three second-place winners will each receive gift certificates worth 200,000 won. 'Handwriting is a way of conveying the heart beyond language,' a Kyobo official said. 'We hope this contest offers foreign participants a meaningful way to experience Korean culture up close and to rediscover the value of handwriting.'
Korea Herald
02-05-2025
- Entertainment
- Korea Herald
Han Kang's first post-Nobel book tops bestseller list
Nobel literature laureate Han Kang's latest book has topped a local bestseller list upon its release. Major bookstore chain Kyobo Book Center said Friday that the book, titled "Light and Thread," claimed the No. 1 spot on its bestseller list for the last week of April. Han's first publication since winning the Nobel Prize in Literature last year, the book contains a total of 12 writings, including five poems and several new prose pieces. Three of the writings stem from the Nobel Prize in Literature award events last December: the full text of the laureate lecture "Light and Thread," delivered at the Nobel Prize ceremony in Stockholm; the acceptance speech "Even In the Darkest Night" given at the subsequent banquet; and the message "A Small Teacup," left upon donating a teacup to the Nobel Prize Museum. Among the new prose pieces, "North-facing Garden" describes the garden she tended at her first fully-owned home bought in 2019, while "Garden Diary" chronicles the garden's plant life over two years starting in 2021. The book, which was released last Wednesday, has drawn particularly strong interest from female readers, who made up 69.7 percent of its audience, according to Kyobo. (Yonhap)
Korea Herald
29-04-2025
- Business
- Korea Herald
Kyobo Life's holding firm push gains steam
South Korean insurer expands portfolio with SBI Savings Bank acquisition Kyobo Life Insurance will acquire a controlling stake in SBI Savings Bank, accelerating its push to become a financial holding company by entering the savings banking industry. The South Korean insurer said Monday its board approved a 900 billion won ($625.8 million) investment to gradually acquire a 50 percent plus one share stake in the savings bank from Japan's SBI Holdings by October 2026. Due to regulatory restrictions on financial institution ownership, Kyobo will begin with a 9.97 percent stake purchase Wednesday and aims to increase its holding to 30 percent within the year. Once completed, the deal will give Kyobo 58.7 percent of voting rights, securing management control. The two companies plan to co-manage the bank, with equal board representation. 'There's no reason to replace the leadership that has successfully positioned the bank at the industry's top,' Kyobo Life said. The transaction marks the savings bank's return to Korean ownership after 12 years. SBI Holdings took full control of the then-insolvent lender — formerly Hyundai Swiss Savings Bank — in 2013, ultimately injecting about 1.4 trillion won to turn it around. Today, SBI Savings Bank is Korea's largest, with 14 trillion won in assets. It posted a net profit of 80.8 billion wonin 2024, a slight dip from the previous year but a strong showing compared to the industry's 397.4 billion won net loss. Its 4.97 percent delinquency rate was also well below the sector average of 8.52 percent. The acquisition is also a milestone in Kyobo's longstanding ambition to transition into a holding company and diversify beyond traditional insurance. Founded in 1958, Kyobo is Korea's third-largest life insurer and reported a record net profit of nearly 700 billion won in 2023, up 11 percent from the year before. The holding company plan had been held back by a protracted dispute between Chairman and CEO Shin Chang-jae and a group of financial investors. While the transition requires approval from two-thirds of shareholders, a consortium led by Affinity Equity Partners, which held a 24 percent stake, had been locked in a yearslong standoff with Shin over exit pricing. SBI Holdings played a key role in resolving the impasse, purchasing Affinity's 9 percent stake in March. The Japanese firm has solidified its position as Kyobo Life's key strategic partner since then. In April, it announced plans to increase its stake in the insurer to 20 percent, becoming the second-largest shareholder after Shin, who holds 39.11 percent personally and 41.7 percent with his family. The latest moves build on a longstanding relationship between the two companies. SBI first invested in Kyobo in 2007, and the firms have since collaborated on initiatives including a 2013 joint bid for Woori Financial Group, the launch of an online bank in 2015 and various digital finance ventures. Reports also point to a personal friendship between Shin and SBI Chairman Yoshitaka Kitao. Adding a savings bank is expected to deepen synergies and broaden Kyobo's portfolio, which currently includes over a dozen affiliates. Other than Kyobo Securities, most lack market presence. The company plans to tap SBI's deposit base to enhance retirement fund offerings and direct loan-eligible insurance customers to the bank, potentially adding 1.6 trillion won in loan volume. Merging customer pools is expected to bring Kyobo's total client base to 3.7 million. Targeting completion of its transition into a holding company by 2026, Kyobo Life plans to seek regulatory clearance in the latter half of this year. The insurer also said it will actively pursue additional acquisition opportunities. 'We plan to continue expanding into non-life insurance and other financial sectors to strengthen our portfolio,' a company official said.
