President Lee Yoon-jong of Aju Capital Co. gave a lecture on the capital industry in Korea as part of a plan by the company to expand financial education to include youths, expanding from retired adults since last year.
President Lee spoke on the subject of “future financial industry leaders” to the students at Kyunghee University in Seoul on Sept. 28. About 100 undergraduate students, who are majoring in financial investment and financial exchanges, heard the lecture by the Aju Capital CEO at the university’s auditorium.
Lee explained the general trends of the capital sector in Korea, ways to achieve the dreams and vision of students, and the talented persons as seen by the CEOs in the financial industry. He also took questions from the students following the lecture.
A number of professional lecturers took over the podium, including CEO Lee, following his lecture to speak about the ins and outs of financial consulting, credit control, and the prevention of financial fraud, among others, which the students should know when they enter society and get jobs in the financial industry.
Aju Capital has given lectures on “healthy finance” to some 2,500 retirees so far, especially those who don’t have much knowledge on the financial industry.
Since September this year, the financial company has been giving lectures on finance to college, high school students, soldiers and other youths, who are about to get a job in the financial industry.
Aju Capital will send about 30 lecturers made up of retired and current professional financial experts around the county to provide lectures on finance and the financial industry in general. They will use textbooks prepared by Aju Capital.
AJU Capital Co., Ltd. operates in the credit and finance industry. The company operates its business under four categories: personal finance business which provides personal credit loan products and house mortgage loan products for individuals; automobile finance business covering automobile installment financing for new cars, used cars and imported cars, as well as automobile lease services; lease finance business offers medical equipment, heavy equipment, and industrial goods lease products for small and medium firms.
Olympus Capital, a U.S.-based private equity firm, was selected as the preferred bidder to acquire Aju Capital, Korea's second-largest non-banking financial institution. According to investment banking industry sources on June 12, Aju Industrial, the largest shareholder to Aju Capital, and its lead manager Deloitte Anjin LLC have set out an exclusive negotiation to sell off its financial unit with Olympus Capital. Aju Capital is the No. 2 lender with the balance of assets reaching 5,983.6 billion won as of the end of March this year.
Olympus Capital is active in Asia with interests in China, Japan, India, as well as in Korea. The balance of its investment in Asia is in excess of $2 billion. In Korea, it bought a stake in KEB Card worth 100 billion won in 1999 and made a joint investment in Orix Savings Bank (currently OSB Savings Bank) in 2013. However, investment bankers said it remains to be seen whether the American private equity firm will be able to pull the deal off.
Last year, Aju Capital failed to sell itself to J-Trust of Japan after selecting it as the preferred bidder. It was reported that Aju Group is asking for a price of more than 500 billion won for the financial arm. An investment banker commented, "Given the current difficult situation of the non-banking financial services market, it won't be easy for Aju Group to get the price it wants."
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