Korea Times AI content 2 team Reporter
Value context and insight. lkm@koreatimes.co.kr
Hana Bank and Woori Bank are rushing to contain the fallout of the martial law fiasco, in line with financial authorities’ recommendation of swift responses to limit financial market spillovers, market watchers said Tuesday.
The recent martial law fiasco poses a greater risk to the Korean economy compared to developments in the impeachments of the country’s two former presidents, Goldman Sachs said in a report on Tuesday. Former Presidents Roh Moo-hyun and Park Geun-hye were impeached in 2004 and 2016, respectively.
An increasing number of retail investors are turning to gold, prompted by intensifying political uncertainties brought on and amplified by last week's martial law fiasco, data showed Monday.
Over 8,000 employees of Hana Bank participated in a foreign exchange (FX) quiz show, a forum for vibrant in-house communication and deepening of financial market knowledge, the lender said Sunday.
Foreign investors net sold over 1 trillion won ($818 million) from Wednesday to Friday, unsettled by the aftermath of the martial law fiasco since late Tuesday, market watchers said Sunday.
Korea is expected to face continued volatile trading conditions in the near term, hamstrung by potential downside risks to earnings and policy uncertainties both domestically and globally, Goldman Sachs said in a report, Wednesday.
Song Jin-wook, partner at Bae, Kim & Lee law firm, said he came to understand what specific points companies should focus on in relation to serious disasters and compliance preparation over the course of his anti-corruption, anti-competition and corporate espionage caseslitigations.
A team of top financial and economic policy authorities will continue to monitor market developments from the fallout of the short-lived martial law fiasco, in a coordinated effort to safeguard the county’s rule-based democracy and economic stability, the country’s top monetary policymaker said Thursday. The short-term devaluation of the Korean won against the U.S. dollar to 1,444 won overnight from Tuesday to Wednesday is expected to gradually recover, aided by the implementation of unlimited government liquidity packages, according to Bank of Korea (BOK) Governor Rhee Chang-yong.
The Korean financial market experienced less severe-than-expected fallout of the overnight martial law fiasco, underpinned by the financial authorities’ prompt responses that prevented a wide tumbling in foreign exchange (FX) and equity indexes, market watchers said Wednesday.The main bourse KOSPI dipped to an intraday low of 2,442.46 points, led by foreign net sell-offs of 380.5 billion won ($269 million). It was down further by nearly 2 percent from the opening mark of 2,450.76, 1.97 percent lower than the previous session. Retail investors and institutional investors net bought 321.2 billion won and 37 billion won, respectively. The KOSPI200 futures market lost a net foreign holding of 423.1 billion won. It ended at 2,464.00 points, down 1.44 percent from the previous session.
HYBE Chairman Bang Si-hyuk is coming under intensifying scrutiny from the financial authorities over suspected collusion with private equity funds (PEFs) prior to the entertainment titan’s initial public offering (IPO) in 2020, market watchers said Tuesday.