DOCSLIB.ORG

Busan Bank 60 Kyongnam Bank 62 BNK Securities 64 BNK Capital 66 BNK Savings Bank 68 BNK Credit Information 70 BNK System 72

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Busan Bank 60 Kyongnam Bank 62 BNK Securities 64 BNK Capital 66 BNK Savings Bank 68 BNK Credit Information 70 BNK System 72 BNK Financial Group Sustainability Report Contents 2014 Vision Of BNK Financial Group 01 CEO Message 02 The Two-Bank System For Future Potentials 04 BNK Financial Group History 06 Stable Corporate Governance 08 Integrated Risk Management 10 Transparent Ethical Management 12 Initiating Sustainable Management 14 Stakeholder Engagement 15 Materiality Test 16 Sustainability Key Aspects Report 1. Laying the Foundation for Sustainable Growth 20 2. Providing Customer-Centered Financial Services 26 3. Response to Climate and Energy Reduction 34 4. Suggesting a New Win-Win Growth Model with 40 the Regional communities 5. Fostering Financial Specialists 48 Reporting Aspects prior to Sustainable Management Protection of Financial Consumers 56 Happiness with You, Together Practice Busan Bank 60 Kyongnam Bank 62 BNK Securities 64 BNK Capital 66 BNK Savings Bank 68 BNK Credit Information 70 BNK System 72 Financial Statements 74 Appendix Performance Data of Sustainability Management 105 GRI Guideline Index 110 Assurance Statement on GHG Emissions 113 Third - Party Assurance Report 114 Explanations about the Report 116 BNK Financial Group Vision Corporate Vision BNK Financial Group With the incorporation of Kyongnam Bank as an affiliate of BNK Financial Group, the group achieved the mid-and long-term man- Sustainability Report agement plan under the Vision 2015. As of 2014-end, our total assets reached KRW 93 trillion with approximately 8,000 employees, 2014 BNK has emerged as one of the top five financial groups (among financial groups for commercial banks), and we have paved the way to expand our horizons to the global market as Korea’s representative regional financial group. Management Principles Under a management philosophy of ‘To the world with the region and to a better future with the customers’ for a higher leap, BNK Financial Group is committed to expanding its business presence beyond the southeastern economic zone of Korea up to the met- ropolitan area in Korea and major countries in Asia. We plan to become ‘a Global Super Regional Financial Group which is among Asia's top 30 and one of the top 100 global financial groups by 2020’ to achieve the vision of serving as ‘a global premier regional financial group 'To this end, we will continue to explore business for new growth, scale up the share of our non-banking sector businesses and expand our reach overseas focusing especially on Southeast Asia. Customer Satisfac- Value Creation Win-Win Employee Happi- BNK Financial Group Vision tion Management Management Management ness Management Raise customer sat- Create the highest Practice social Satisfy employees isfaction levels and corporate value responsibilities by creating a work- put emphasis on based on long- through contri- place with joy and Vision 2015 Vision 2020 customer interests term profitability bution to local a sense of pride communities and region-focused Korea’s Super Regional Financial Group Global Super Regional Financial Group management BNK Financial Group seeks to become the first superior BNK Financial Group seeks to become a premier regional regional financial group that represents Korea. financial group with global competitiveness. As Korea’s No.1 regional financial group, we will conduct our We aim to fly higher as a globally competitive, world-class business lines as a comprehensive financial group, and premier financial group. We are focused on going-beyond secure specialized competitiveness as a regional financial our first rank in Korea and aim to emerge as a superior Core Values group to make inroads into the global market. regional financial group equipped with a comprehen- sive financial service system. Happiness with You Customer Challenge and Responsibility Communication In Starting ‘Happiness with You’ -oriented Innovation and Trust and Teamwork The ‘Happiness with You’ project that began in 2012 has been highly acclaimed because it laid a new foundation in corporate social contribution activities as BNK Financial Group’s customized social contribution project. It has garnered strong trust from local com- munities and customers as well. We aim to spread the benefits of the project to Busan, Ulsan and Gyeongnam regions to reach out to more local residents. ‘Happiness with You’ Fostered by BNK Financial Group BNK Financial Group’s corporate slogan is 'Happiness with You'. It implies that we will practice the Happiness with You to create a loving world. The slogan also implies Giving Hope through Happiness for the future by spearheading initiatives forsocially respon- sible management and creative finance. It also conveys our commitment for continued passion toward the development of local communities driven by our key business focused on socially responsible projects in the group level. We are ready to make a happier future with stakeholders as all our affiliates are unwaveringly engaged in practicing the ‘Happiness with You’ based on the four man- agement principles: win-win strategies, customer satisfaction, value creation and employees’ happiness. 02 BNK Financial Group Sustainability Report 2014 03 CEO Message BNK’s ‘Happiness with You’ will make a world of happiness giving hopes. Since the establishment of Busan Bank in 1967 that has ma- Second, we will concentrate on intensifying profitability and tured with the local regions, BNK Financial Group was launched management efficiency based on solid management driven in 2011. The group has leaped higher as Korea’s representative by stable growth. Based on strategies that focus on profitability regional financial group with seven affiliates in a space of mere- and soundness, all-out efforts will be underway to boost the ly four years. competencies of all affiliates by exploring new businesses for each affiliate, diversifying income sources, maximizing synergies With the incorporation of Kyongnam Bank last October, we es- and establishing a profit-oriented organization. tablished a two-bank system. As a result, we have solidified our presence as one of Korea’s top five financial groups with total Lastly, we will practice distinctive socially responsible man- assets of KRW 93 trillion, 8,000 employees and 500 branches as agement to serve as the most trusted financial partner. We of end-2014. will dramatically upgrade the 'Happiness with You' project that has been maintained for the past three years, and take the lead The corporate title was changed from ‘BS Financial Group’ into in creating values to be shared in the financial industry. Projects ‘BNK Financial Group’ because 'BS' might be understood as to support the creative finance and facilitation of the regional geographically confined to Busan, while BNK as an acronym for economies including technology financing, relationship finance ‘Beyond No.1 Korea’and 'Busan and Kyongnam'. This will push us and job creation will be further explored and initiated as we do to move forward to become a 'Global Super Regional Financial the utmost to fulfill social responsibilities for regional communi- Group'. ties and residents. We have intensified the scope and depth of the Happiness with BNK Financial Group promises to rise as the most exemplary You project that has cemented its presence as an iconic brand holding company model that has grown into a world-class fi- of BNK Financial Group while leading socially responsible man- nancial group originating from local regions. This will be driven agement practices in the financial sector from 2012. As such, by the core value of “Dynamic”,“Glocal”,“Partnership” symbolized we are committed to practicing noblesse oblige befitting the by BNK and its new CI, and the management motto to grow higher prestige of BNK Financial Group. higher i.e., ‘To the world with the region and to a better future This year’s corporate slogan for BNK Financial Group is ‘Giving with the customers.’ Hope through Happiness‘. Accordingly, we plan to extend We would like to express our thanks to our stakeholders, cus- financial services that give hope to local communities and tomers, shareholders and local communities, for their continu- customers by scaling up the creative finance, and initiating ous interest and support for BNK Financial Group’s sustainable region-focused social contribution projects that have stories to growth. tell and touch the hearts of people. We aim to create our exclusive differentiated values by selecting the following action plans according to our management prin- ciple of ‘Great Innovation 2015 – Forward-looking Management System’ in order to establish the basis for sustainable growth. First, we will secure engines for sustainable growth by car- rying out distinctive strategies. We will establish our unparal- leled stature as a leading regional financial group, and boost our May 2015 roles as a financial group specialized in Busan as the mecca of finance. Seeking to tap into oversea markets where the group’s future growth engines lie, we will initiate optimized business model strategies in Asia through cross-affiliate collaboration and enable business localization in a preemptive manner. Chairman and CEO of BNK Financial Group Se Whan Sung 04 BNK Financial Group Sustainability Report 2014 05 The Two-Bank System for Future Potentials Expanding Efficiency in Regional Finance Shareholder Status A Representative Regional Financial Group in the Southeastern BNK Financial Group generates synergies while raising regional finance by establishing close coop- (Unit: %) Economic Zone of Korea eration as well as seamless exchanges between Busan Bank and Kyongnam Bank. Joint investment Since the launch of BNK Financial Group as a premierfinancial holding company among regional is made in financial investment fields such as PF, SOC and ship finance in order to boost the yield, banks in March 2011, the group has established itself as a representative financial group in the while profits are generated by adopting the common brand card, improving hybrid branches and southeastern economic zone of Korea, equipped with seven affiliates: Busan Bank, Kyongnam Bank, engaging in mutual cooperation. We laid the foundation to establish an integrated IT center in the BNK Securities, BNK Capital, BNK Savings Bank, BNK Credit Information and BNK System.
Load more

Recommended publications
  • Busan Bank 005280.KS, 005280 KS 3Q09 Results Review: Solid Earnings and Extended Price: W14,100 ▲ Price Target: W17,500 Visibility Previous: W14,000
    Asia Pacific Equity Research 22 October 2009 Overweight Busan Bank 005280.KS, 005280 KS 3Q09 results review: Solid earnings and extended Price: W14,100 ▲ Price Target: W17,500 visibility Previous: W14,000 • Solid earnings by Busan Bank in 3Q09: Busan Bank (BSB) reported South Korea a net profit of W84 billion for 3Q09, which was substantially higher Banks / Bank-centric FHCs than our forecast of W65 billion and the consensus estimate of W69 Gil Hyung KimAC billion. During the quarter, BSB recognized a one-off gain of ~W3 (82-2) 758-5900 billion from the gain on the sale of investment securities. [email protected] • Scott YH Seo Earnings upside mainly driven by improved asset quality: Credit (82-2) 758 5759 costs for BSB (adjusted for the net loss on loan sales) decreased to [email protected] 80bp over average loans in 3Q09 from 96bp in 2Q09 and 210bp in J.P. Morgan Securities (Far East) Limited 1Q09 due to improved credit quality at BSB (pre-charge off/NPL sale Price Performance delinquency ratio of 1.81% in 3Q09 from 2.06% in 2Q09). The quarterly net interest margin was maintained at 3.1% from a quarter 16,000 ago, when adjusted for one-off items (i.e. credit card fee income of W 10,000 +2bp in 2Q09 and FX impact of 5bp in +3Q09). On the other hand, non-interest income declined by around W10 billion in 3Q09 from the 4,000 previous quarter due to lower fee and securities-related income. Oct-08 Jan-09 Apr-09 Jul-09 Oct-09 005280.KS share price (W KOSPI (rebased) • We maintain OW on BSB: We believe BSB offers high earnings YTD 1m 3m 12m visibility due to: (1) resistant NIM due to its strong deposit franchise Abs 152.8% 7.6% 34.3% 82.7% (stability in low-cost deposit flow); (2) prudent management of Rel 105.7% 10.1% 23.2% 44.4% overhead costs (5% reduction in salaries in 4Q09 and 50% cut on the reimbursement of unused vacations in 2010); and (3) persistent asset Company data quality trend.
    [Show full text]
  • Eastspring Investments Société D’Investissement À Capital Variable Luxembourg
    EASTSPRING INVESTMENTS SOCIÉTÉ D’INVESTISSEMENT À CAPITAL VARIABLE LUXEMBOURG AUDITED ANNUAL REPORT AS AT DECEMBER 31, 2017 26, Boulevard Royal L-2449 Luxembourg Grand Duchy of Luxembourg R.C.S Luxembourg B 81.110 No subscription can be received on the basis of this report. Subscriptions can be accepted only on the basis of the current Prospectus of the SICAV. EASTSPRING INVESTMENTS TABLE OF CONTENTS Directory, Administration and Management 2 General Information 4 Report of the Board of Directors 5 Report of the Investment Manager 6 Report of the Réviseur d’Entreprises agréé 9 Combined Statement of Net Assets 11 Combined Statement of Operations and Changes in Net Assets 22 Statement of Changes in Shares Outstanding 33 Statistics 43 Statement of Investments Eastspring Investments – Asia Pacific Equity Fund(*) (“Asia Pacific Equity Fund”) 54 Eastspring Investments – Asian Bond Fund (“Asian Bond Fund”) 56 Eastspring Investments – Asian Dynamic Fund(*) (“Asian Dynamic Fund”) 70 Eastspring Investments – Asian Equity Fund (“Asian Equity Fund”) 72 Eastspring Investments – Asian Equity Income Fund (“Asian Equity Income Fund”) 75 Eastspring Investments – Asian High Yield Bond Fund (“Asian High Yield Bond Fund”) 77 Eastspring Investments – Asian Infrastructure Equity Fund(*) (“Asian Infrastructure Equity Fund”) 82 Eastspring Investments – Asian Local Bond Fund (“Asian Local Bond Fund”) 84 Eastspring Investments – Asian Low Volatility Equity Fund (“Asian Low Volatility Equity Fund”) 91 Eastspring Investments – Asian Property Securities Fund(1) (“Asian
    [Show full text]
  • Korea Morning Focus
    May 3, 2019 Korea Morning Focus Company News & Analysis Major Indices Close Chg Chg (%) SK Networks (001740/Buy/TP: W7,000) KOSPI 2,212.75 9.16 0.42 Margin gains through business synergies are critical KOSPI 200 286.12 1.20 0.42 KOSDAQ 760.38 5.64 0.75 Lotte Data Communication (286940/Buy/TP: W63,000) HIT merger to create additional business opportunities Turnover ('000 shares, Wbn) Volume Value GS Retail (007070/Buy/TP: W48,000) KOSPI 358,951 5,027 1Q19 review: Convenience stores showing signs of improvement KOSPI 200 83,515 3,482 KOSDAQ 769,128 4,248 DGB Financial Group (139130/Buy/TP: W12,000) Market Cap (Wbn) Underlying earnings power enhanced by business diversification Value KOSPI 1,467,463 BNK Financial Group (138930/Buy/TP: W8,900) KOSDAQ 260,785 Full confidence will be recovered after 4Q results, but the current KOSPI Turnover (Wbn) performance is not that bad Buy Sell Net Foreign 1,531 1,463 68 Sector News & Analysis Institutional 1,269 1,252 17 Retail 2,186 2,288 -102 Airlines (Overweight) KOSDAQ Turnover (Wbn) China route allocation results: LCC share increases to 28.1% Buy Sell Net Foreign 370 303 68 Institutional 176 192 -17 Retail 3,674 3,714 -39 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,246 1,137 109 KOSDAQ 332 266 66 Advances & Declines Advances Declines Unchanged KOSPI 515 289 81 KOSDAQ 842 340 89 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 45,900 50 395 Hynix 80,700 1,700 249 KODEX Leverage 13,530 115 193 Dongsung Pharm.
    [Show full text]
  • The Korean Financial Crisis of 1997: Onset, Turnaround, and Thereafter, Which I Originally Authored in Korean in 2006
    The Korean Financial Crisis of 1997 Onset, Turnaround, and Thereafter Public Disclosure Authorized Kyu-Sung LEE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized The Korean Financial Crisis of 1997 The Korean Financial Crisis of 1997 ONSET, TURNAROUND, AND THEREAFTER Kyu-Sung LEE © 2011 The International Bank for Reconstruction and Development / The World Bank and the Korea Development Institute 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org All rights reserved 1 2 3 4 14 13 12 11 The findings, interpretations, and conclusions herein are those of the author and do not reflect the views of the World Bank, its Board of Executive Directors or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorse- ment or acceptance of such boundaries. Rights and Permissions The material in this publication is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development / The World Bank encourages dissemination of its work and will normally grant permission to reproduce portions of the work promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center Inc., 222 Rosewood Drive, Danvers, MA 01923, USA; telephone: 978-750-8400; fax: 978-750-4470; Internet: www.copyright.com.
    [Show full text]
  • About Lotte Shopping
    LIFETIME VALUE CREATOR ANNUAL REPORT 2017 REPORT ANNUAL LOTTE SHOPPING AN INVITATION TO THE ENRICHED FUTURE OF RETAIL, CREATED BY THE NEW VALUES OF LOTTE SHOPPING Lotte Shopping Annual Report 2017 LIFETIME VALUE CREATOR Lotte Shopping established its vision of being a “Lifetime Value Creator”, which includes our pledge to offer REPORT OVERVIEW UNIQUE FEATURE customers the highest value for every purchase they make from us. In order to create new values that will make their lives 00 ABOUT LOTTE GROUP This annual report informs readers about Lotte Shopping’s This year’s report is designed to demonstrate 02 CEO'S MESSAGE more beautiful and enriched, we are leading the evolution of wide range of initiatives and achievements. In particular, Lotte Shopping’s commitment to adding new values to 06 INTERVIEW WITH THE CEO retail through continuous change and innovation. it introduces in detail our approach to realizing the future of customers’ lives with its new logo, Value Line. retail while strengthening our core competencies in channels, You will see the beautiful and luxurious image of the future innovations, customer satisfaction, and other areas, of retail, shown through the varied colors and shapes of in response to changes in trends, technologies, and lifestyles. Lotte Shopping’s Value Line logo. LEADING TRENDS IN RETAIL EXPERIENCE OMNI PAGE. 10-15 CONVERGING TECHNOLOGY AND INNOVATION EXPECT THE FUTURE OF RETAIL PAGE. 16-21 CREATING NEW LIFESTYLES AND VALUES ENJOY A FULLER LIFE PAGE. 22-27 Reader's Guide ABOUT LOTTE SHOPPING REVIEW OF OPERATIONS CSR MANAGEMENT 30 COMPANY PROFILE 62 LOTTE DEPARTMENT STORE 73 LOTTE SHOPPING’S CSR 32 FINANCIAL HIGHLIGHTS 64 LOTTE MART 74 CUSTOMER-CENTERED MANAGEMENT 34 GLOBAL NETWORK 66 LOTTE HIMART 76 ENVIRONMENTAL MANAGEMENT MORE INFORMATION 36 BOARD OF DIRECTORS 68 LOTTE SUPER 78 WIN-WIN PARTNERSHIPS Links to the related information of the contents in the report.
    [Show full text]
  • SOUTH KOREA Executive Summary
    Underwritten by CASH AND TREASURY MANAGEMENT COUNTRY REPORT SOUTH KOREA Executive Summary Banking The South Korean central bank is the Bank of Korea (BOK). Within the BOK, the main objective is to maintain price stability. Bank supervision is performed by the (FSC) and its executive arm, the Financial Supervisory Service (FSS). South Korea applies central bank reporting requirements. These are managed by the BOK, according to the rules set out in the Bank of Korea Act and the Statistics Law of 1962 and relevant regulations. Resident entities are permitted to hold foreign currency bank accounts domestically and outside South Korea. Domestic currency accounts are not convertible into foreign currency. Non-resident entities are permitted to hold domestic and foreign currency bank accounts within South Korea. Non-residents are also allowed to hold “non-resident free won accounts,” which are convertible. Since implementing a number of banking and regulatory reforms following the Asian financial crisis in 1997, the number of credit institutions operating within South Korea has reduced from 33 commercial banks in 1997 to 12. The banking sector consists of seven nationwide commercial banks, six local banks, and five specialized banks. There is a significant foreign banking presence in South Korea – 42 foreign banks have established branches in the country. Payments South Korea’s two main interbank payment clearing system operators are the BOK and the Korea Financial Telecommunications and Clearing Institute (KFTC). The BOK operates the country’s RTGS system, while the KFTC operates the country’s main retail payment systems. The most important cashless payment instruments in South Korea are credit cards in terms of volume, and, in terms of value, credit transfers.
    [Show full text]
  • Korea Morning Focus
    February 4, 2020 Korea Morning Focus Company News & Analysis Major Indices Close Chg Chg (%) LG Chem (051910/Buy/TP: W500,000) Raise TP KOSPI 2,118.88 -0.13 -0.01 Battery poised for a re-rating; Maintain as our top pick KOSPI 200 285.05 0.52 0.18 KOSDAQ 646.85 4.37 0.68 NCsoft (036570/Buy/TP: W910,000) Watch for potential earnings surprise in 1Q20 Turnover ('000 shares, Wbn) Volume Value Industrial Bank of Korea (024110/Buy/TP: W14,000) Lower TP KOSPI 827,336 8,069 More exposed to low interest rates than peers due to lack of portfolio KOSPI 200 109,045 5,224 KOSDAQ 1,177,906 6,082 diversification Market Cap (Wbn) BNK Financial Group (138930/Buy/TP: W8,300) Lower TP Value ROE to fall on continued NIM contraction KOSPI 1,427,133 KOSDAQ 234,040 DGB Financial Group (139130/Buy/TP: W9,000) Lower TP KOSPI Turnover (Wbn) Outsized impact of falling bond yields Buy Sell Net Foreign 2,029 2,337 -308 Economy & Strategy Update Institutional 2,051 1,881 170 Retail 3,914 3,796 118 Fixed Income Monthly KOSDAQ Turnover (Wbn) Coronavirus outbreak may not necessarily prompt rate cuts Buy Sell Net Foreign 933 779 154 Institutional 309 235 75 Retail 4,808 5,037 -229 Program Buy / Sell (Wbn) Buy Sell Net KOSPI 1,904 1,973 -69 KOSDAQ 913 737 176 Advances & Declines Advances Declines Unchanged KOSPI 295 573 38 KOSDAQ 638 629 80 KOSPI Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Samsung Electronics 57,200 800 1,293 KODEX 200 Futures 6,465 -15 552 Inverse 2X KODEX Leverage 13,505 5 517 Digital Power 7,400 1,470 357 Communication Hynix 94,700 1,200 346 KOSDAQ Top 5 Most Active Stocks by Value (Wbn) Price (W) Chg (W) Value Welcron 6,600 -1,930 375 OKONG Corp.
    [Show full text]
  • Busan Bank 2010 Annual Report 02
    Busan Bank 2010 annual RepoRt 02 Contents 10 page 110 page CEO’s MEssagE ManagEMEnt 12 page 111 page FinanCial HigHligHts OrganizatiOn CHart 14 page 112 page nEws HigHligHts Busan Bank HistOry 16 page 114 page OpEratiOn rEviEw Banking DirECtOry 33 page 115 page FinanCial pErFOrManCE ir inFOrMatiOn Corporate Profile Founded in 1967, Busan Bank has grown into a top-performing representative regional bank that secures asset soundness on the basis of industry-best risk management and strong sales capabilities. throughout its 43 years of service, we have established a long-term growth foundation while supporting the stimulation of the local economy’s vitality with a variety of financial products and customer service tailored to regional market conditions. our stable asset quality, efficient system building, and revenue diversification have added to our ability to consistently advance, creating greater value for the community through passion and dedication to become the best Regional Financial Group. Contents 02 • 03 We are pleased to report that Busan Bank had an exceptional year in 2010. We came back from one of our most challenging years to record one of our best ever, and worked together to strengthen the Bank’s unique value proposition as korea’s premier Regional Financial Group. We want to extend our warmest thanks to everyone who has maintained their confidence in Busan Bank and supported us for another year. although competition in the world’s integrated financial markets seems to get fiercer every year, the competitive challenges are offset by the many attractive opportunities that continue to unfold before us. We believe that no one is better positioned than Busan Bank to seize them and bring about never-ending Wonderful Change.
    [Show full text]
  • Eastspring Investments Société D’Investissement À Capital Variable Luxembourg
    EASTSPRING INVESTMENTS SOCIÉTÉ D’INVESTISSEMENT À CAPITAL VARIABLE LUXEMBOURG UNAUDITED SEMI-ANNUAL REPORT AS AT JUNE 30, 2017 26, boulevard Royal L-2449 Luxembourg Grand Duchy of Luxembourg R.C.S Luxembourg B 81.110 No subscription can be received on the basis of this report. Subscriptions can be accepted only on the basis of the current Prospectus of the SICAV. EASTSPRING INVESTMENTS TABLE OF CONTENTS Directory, Administration and Management 2 General Information 4 Combined Statement of Net Assets 5 Combined Statement of Operations and Changes in Net Assets 16 Statement of Changes in Shares Outstanding 27 Statistics 36 Statement of Investments Eastspring Investments – Asia Pacific Equity Fund(*) (“Asia Pacific Equity Fund”) 47 Eastspring Investments – Asian Bond Fund (“Asian Bond Fund”) 49 Eastspring Investments – Asian Dynamic Fund(*) (“Asian Dynamic Fund”) 62 Eastspring Investments – Asian Equity Fund (“Asian Equity Fund”) 64 Eastspring Investments – Asian Equity Income Fund (“Asian Equity Income Fund”) 67 Eastspring Investments – Asian High Yield Bond Fund (“Asian High Yield Bond Fund”) 69 Eastspring Investments – Asian Infrastructure Equity Fund(*) (“Asian Infrastructure Equity Fund”) 74 Eastspring Investments – Asian Local Bond Fund (“Asian Local Bond Fund”) 76 Eastspring Investments – Asian Low Volatility Equity Fund(*) (“Asian Low Volatility Equity Fund”) 83 Eastspring Investments – Asian Property Securities Fund(1) (“Asian Property Securities Fund”) 86 Eastspring Investments – China Equity Fund (“China Equity Fund”) 88 Eastspring
    [Show full text]
  • Semi-Annual Report Mirae Asset TIGER KOSPI 200 ETF
    Semi-Annual Report Mirae Asset TIGER KOSPI 200 ETF A Sub-fund of Mirae Asset TIGER ETF Series For the period from 10 January 2011 (Initial Offer) to 30 September 2011 Mirae Asset TIGER KOSPI 200 ETF (a sub-fund of Mirae Asset TIGER ETF Series) Unaudited Condensed Semi-Annual Financial Statements for the period from 10 January 2011 (Initial Offer) to 30 September 2011 Contents Management and Administration . 2 Unaudited Condensed Semi-annual Financial Statements . 3 Condensed Statement of Financial Position Condensed Statement of Comprehensive Income Condensed Statement of Changes In Net Assets Attributable to Unitholders Condensed Statement of Cash Flows Notes to Unaudited Condensed Financial Statements Investment Portfolio . 12 Movements in Investment Portfolio . 18 Performance Record . 24 Mirae Asset TIGER KOSPI 200 ETF (a sub-fund of Mirae Asset TIGER ETF Series) Management and Administration Manager Participating Dealers Mirae Asset Global Investments (Hong Kong) Limited Barclays Bank PLC 5th Floor, Three Pacific Place 4/F, Cheung Kong Centre Queen’s Road East 2 Queen’s Road Central, Hong Kong Hong Kong Citigroup Global Markets Asia Limited Directors of the Manager 50/F, Citibank Tower Mr Hyeon Joo Park Citibank Plaza, 3 Garden Road Mr Wan Youn Cho Central, Hong Kong Mr Byung-Ha Kim Credit Suisse Securities (Hong Kong) Limited Investment Adviser 2/F, Three Exchange Square Mirae Asset MAPS Global Investment Co. Ltd 8 Connaught Place East Tower 6th Floor, Mirae Asset CENTER Central, Hong Kong 67 Suha-dong, Jung-gu Seoul, Korea Goldman
    [Show full text]
  • Quarterly Report
    Quarterly Report (42nd fiscal year, 3rd quarter) For the nine months ended 30 September 2011 To: Financial Services Commission of Korea KRX KOSPI Market 29 November 2011 Company Name : Lotte Shopping Co., Ltd. CEO : Lee, Cheolwoo Head Office : 1, Sogong-dong, Jung-gu, Seoul (Tel) +82 2-771-2500 (Homepage) http:// www.lotteshopping.com Prepared by : (Position) Head of Strategic Planning (Name) Kim, Sewan (Tel) +82 2-2118-2019 On 29 November 2011, Lotte Shopping Co., Ltd. (the “Company”) filed its business report for the first half of 2011 (the “Business Report”) with the Financial Services Commission of Korea (the “FSC”) and the KRX KOSPI Market of the Korea Exchange. This is a summary of the Business Report translated into English. Except where indicated otherwise, financial information contained in this summary and in the attached condensed consolidated interim financial statements of the Company as of and for the nine month period ended 30 September 2011 has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards (“Korean IFRS”). HONGKONG:173323.4 I. Overview of the Company A. Overview 1. Main business As of 30 September 2011, the Company operated 29 department stores (including six department stores pursuant to management contracts), four outlet malls, one Lotte mall (Lotte Esiapolis, which opened in April 2011), 92 discount stores, 333 supermarkets and 71 cinemas (including one cinema on commissioned basis) in Korea. The Company plans to open additional stores and is moving forward with its outlet mall, complex shopping mall (i.e., a shopping mall located in a suburban or a redevelopment area that has both leisure and shopping facilities), “category killer” (i.e., specialty stores) and fashion brand businesses.
    [Show full text]
  • Annual Financial Report of Kt Corporation
    ANNUAL FINANCIAL REPORT OF KT CORPORATION (From January 1, 2014 to December 31, 2014) Table of Contents I. HISTORY AND DEVELOPMENT OF THE COMPANY ............................................................ 3 II. BUSINESS OVERVIEW ........................................................................................................... 4 III. OPERATING AND FINANCIAL REVIEW AND PROSPECTS ............................................. 31 1. Operating Results ......................................................................................................... 31 2. Liquidity and Capital Resources ................................................................................... 55 3. Research and Development, Patents and Licenses, Etc. ............................................ 58 IV. DIRECTORS AND SENIOR MANAGEMENT AND EMPLOYEES ...................................... 59 V. QUANTITATIVE AND QUALITATIVE DISLOSURES ABOUT MARKET RISK .................. 67 VI. CORPORATE GOVERNANCE STATEMENT ..................................................................... 71 1. Corporate Governance ................................................................................................. 71 2. Controls and Procedures .............................................................................................. 73 3. Administrative, Management and Supervisory Bodies and Committees ...................... 75 VII. THE PRINCIPAL RISKS AND UNCERTAINTIES FACING THE COMPANY .................... 78 1. Risks Relating to Our Business ...................................................................................
    [Show full text]