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Thu, May 26, 2022 | 08:48

Regulatory clarity is key feature of Hong Kong as fintech hub: fintech association

HONG KONG - Deregulation is often cited as the key to spurring innovation and the growth of markets. But the latest Terra-triggered cryptocurrency crash is shedding light on the importance of having a sound regulatory regime. Hong Kong has developed into a fintech hub, backed by its status as a global financial center, and also by an adequate regulatory environment, the head ...

Kim Bo-eun | 2022-05-25 17:30

Auditing firms compete to secure rookie accountants

The country's big four accounting firms - Deloitte Anjin, EY Korea, Samil PwC and Samjong KPMG - are competing to hire rookie accountants as demand for accounting services surged following the revision of Korea's external audit law.

Anna J. Park | 2022-05-25 09:00

Authorities pledge to introduce legal safeguards amid Luna debacle

Financial authorities and the government are moving to introduce legal safeguards in the cryptocurrency industry by strengthening supervision on exchanges to prevent a recurrence of the recent collapse of the troubled stablecoin Terra and its sister token Luna.

Lee Min-hyung | 2022-05-24 16:51

[ANALYSIS] Internet-only K bank pressed to delay IPO plan

Korea's first internet-only bank _ K bank _ is considering delaying its scheduled initial public offering (IPO) to the latter half of next year at the earliest, according to two senior investment bank executives involved in the process. Regarding the details of its IPO, K bank said its plan to go public in early 2023 remains unchanged, but is still subject to change based on ...

Kim Yoo-chul | 2022-05-24 08:25

Seoul shares up for 2nd day amid hope for inflation slowdown, eased virus lockdown in China

Korean stocks ended marginally higher to rise for a second day Monday amid hopes for a slowdown in inflation and partial easing of COVID-19 lockdowns in China. The local currency gathered ground against the U.S. dollar.After swerving in and out of positive terrain, the Korea Composite Stock Price Index (KOSPI) closed up 8.09 points, or 0.31 percent, to 2,647.38.Trading volume...

2022-05-23 22:28

Exchanges, authorities discuss steps to prevent another Luna fiasco

The ruling party and the government started a two-day meeting to discuss measures to prevent the recurrence of a recent financial fiasco surrounding the once-popular Terra stablecoin and its sister token Luna. On Monday, the ruling People Power Party held an emergency seminar to come up with measures to protect cryptocurrency customers.

Lee Min-hyung | 2022-05-23 16:37

Korea-US summit boosts defense stocks

Korea's major defense stocks rallied Monday on hopes for more exports to the United States and other developed countries, after the two countries agreed to start negotiations on a much-anticipated joint defense procurement deal. This came in response to the first summit between President Yoon Suk-yeol and U.S. President Joe Biden last weekend. Both leaders reached a consensus...

Lee Min-hyung | 2022-05-23 16:36

Market experts warn of asset bubble crash in Korea

The collapse of an asset market bubble in Korea could lead to a more dangerous situation than the crash of the country's information technology (IT) bubble in the early 2000s, market experts warned Monday.

2022-05-23 11:46

Foreign selling reaches 15 tril. won in Korea this year

Foreign investors have sold nearly 15 trillion won ($12 billion) worth of South Korean stocks this year through mid-May as they fled to safe haven assets amid growing stagflation worries, the country's main bourse said Sunday. From Jan. 1 through Friday, foreign selling stood at 14.8 trillion won on the country's two main bourses - 11.8 trillion won on the main Korea Exchange...

2022-05-22 22:03

Chinese people purchase nearly 7,000 buildings in S. Korea in 2021

Chinese people purchased nearly 7,000 buildings in South Korea last year, with more than half of the properties being from the Greater Seoul area, a ruling party lawmaker said Sunday.A total of 6,640 buildings, including apartments, were purchased by Chinese nationals last year, and 2,659 of them are located in Gyeonggi Province, which surrounds the capital city of Seoul, Chu...

2022-05-22 21:52

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