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Finance

Markets

Thu, July 18, 2019 | 12:56

Gold, dollar favored amid growing uncertainties

The balance of U.S. dollar-denominated deposits at banks and gold bar sales have been on a sharp increase over the past few months as investors prefer safe assets amid growing uncertainties caused by the U.S.-China trade feud and Japan's export restriction measures.

Lee Kyung-min | 2019-07-17 17:04

Hana to set up W1 tril. fund with China's sovereign fund

Hana Financial Group will team up with the China Investment Corporation (CIC) to set up a roughly 1 trillion won ($847 million) fund to invest in Korean companies operating in China, the group said Wednesday. The CIC operates about $941.4 billion in funds, one of the world's largest sovereign wealth funds with business partners including Goldman Sachs, HSBC, Deutsche Bank and...

Lee Kyung-min | 2019-07-17 17:04

Merrill Lynch fined W175 mil. for high-frequency trading

Merrill Lynch's Seoul office was fined 175 million won ($148,500) for violating regulations on high-frequency trading, the Korea Exchange (KRX) said Tuesday. Investigations showed the securities firm engaged in 6,220 cases of high-frequency trading on behalf of Citadel Securities, from October 2017 to May 2018.

Kim Bo-eun | 2019-07-16 16:31

Shinhan Card develops blockchain-based payment system

Shinhan Card has obtained a patent for a blockchain-based payment system. The company is the first in the world to have established a credit transaction service using the new record-keeping technology, it said Monday.

Lee Kyung-min | 2019-07-15 17:50

Key industry players team up for mobile ID certification

A consortium of three financial services firms, three mobile carriers and a tech giant has forged a business partnership to launch a blockchain-based form of mobile identification in 2020, industry sources said Sunday.

Lee Kyung-min | 2019-07-14 17:31

Why are foreigners buying Samsung, SK hynix shares despite Korea-Japan row?

Samsung Electronics and SK Hynix are experiencing difficulties since Japan is restricting exports of chip- and display-making materials, but foreign investors are rushing to buy shares of the two chipmakers, according to the Korea Exchange Sunday.

Jhoo Dong-chan | 2019-07-14 17:04

Hitachi Zosen exits Korea after forced labor ruling

Financial firms keeping close watch on Korea-Japan trade row

The nation's financial firms are paying close attention to the latest developments in the trade feud between Korea and Japan. They said that there have yet to be any signs of serious aftereffects from the trade row but they have held a series of emergency meetings to discuss the possible risks that could be caused by prolonging the conflict.

Jhoo Dong-chan | 2019-07-11 17:42

'Seoul proposes plan to compensate forced wartime laborers

Analysts split over future of cryptocurrency

Opinion is still split over whether cryptocurrency is likely to become a legally recognized currency.

Lee Kyung-min | 2019-07-08 18:35

Seoul stocks likely to stay range bound next week

Local shares got off to a weak start this week despite an agreement to resume trade negotiations between the United States and China, whose fruitless conclusion in May had partly been blamed for a steady decline in South Korean exports.

2019-07-06 17:21

'Japan's export control to further strain Korean economy'

Japan's export control of key materials needed to produce semiconductors and displays will deal a significant blow to Asia's fourth-largest economy, economists said Friday.

Lee Kyung-min | 2019-07-05 17:07

Presidential policy chief to meet biz leaders over Japan's economic retaliation

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