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Finance

Policies

Mon, December 9, 2019 | 14:34

South Korea mulls tax on cryptocurrencies and ICOs, says financial minister nominee

South Korea mulls tax on cryptocurrencies and ICOs, says financial minister nominee

The South Korean government is planning to tax cryptocurrencies and initial coin offerings (ICOs), says finance minister nominee Hong Nam-ki. In a written answer submitted to the National Assembly Sunday for his confirmation hearing, Hong said the taxation plan would be finalized in accordance with the creation and progress of the taxation infrastructure and the trend on inte...

2018-12-03 16:17

Korea to issue more internet banking licenses to boost competition

Korea to issue more internet banking licenses to boost competition

The Financial authorities said they will issue internet banking licenses this month. The decision came after an expert group's report claiming the nation's banking industry lacks competition.

2018-12-02 17:17

Consumers disgruntled over card fee reduction

The government's move to slash card transaction fees to benefit small business owners is drawing complaints from some credit cardholders.

2018-12-02 17:12

South Korea's exports up 4.5% year-on-year in November

South Korea's exports up 4.5% year-on-year in November

Exports rose 4.5 percent from a year earlier in November fueled by robust sales of memory chips and petrochemical products, government data showed Saturday. Outbound shipments reached US$51.92 billion last month, marking the seventh consecutive month for the amount to exceed $50 billion, according to the data compiled by the Ministry of Trade, Industry and Energy.

2018-12-01 18:21

South Korea asks Turkey to provide compensation for safeguard measures on PET

South Korea asks Turkey to provide compensation for safeguard measures on PET

The government has asked Turkey to provide compensation to Korean companies affected by provisional safeguard measures it imposed on polyethylene terephthalate (PET) imports, the trade ministry said Saturday.

2018-12-01 18:18

BOK raises key rate to 1.75%

BOK raises key rate to 1.75%

South Korea's central bank on Friday raised the country's policy rate to a 3 1/2-year high of 1.75 percent.

2018-11-30 10:08

Big data emerging as new norm in financial industry

Big data emerging as new norm in financial industry

Big data and related technologies are emerging as the centerpiece of the financial industry according to Financial Supervisory Service (FSS) Governor Yoon Suk-heun. Not only Yoon, but also guest speakers stressed the importance of adopting such new technologies to accommodate the rapidly changing financial environment at a recent anniversary ceremony for the financial agency.

2018-11-29 18:52

Samsung BioLogics challenges FSC's decision

Samsung BioLogics has filed an administrative litigation suit with a court to challenge the financial regulator's recent ruling that the firm violated Korea's accounting regulations, according to the company Wednesday.

2018-11-28 20:29

Goldman Sachs fined 7.5 bln won for illegal naked short selling in Korea

Goldman Sachs fined 7.5 bln won for illegal naked short selling in Korea

South Korea's financial regulator said Wednesday it decided to fine the Seoul branch of Goldman Sachs Group Inc. 7.5 million won (US$6.66 million) for carrying out naked short selling, which is illegal here.

2018-11-28 16:45

SpaceX delays launch of Korea's new satellite

SpaceX delays launch of Korea's new satellite

South Korea said Monday that its new satellite launch has been delayed as American rocket company SpaceX requested more time to inspect its Falcon 9. The launch date has been tentatively rescheduled at either Nov. 25, 26 or Dec. 1, the Ministry of Science and ICT said. SpaceX, founded by Elon Musk, did not provide details on the inspection schedule of its two-stage rocket, ac...

2018-11-19 14:42

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