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Finance

Fri, May 14, 2021 | 21:43

Korean banks in quandary over crypto partnerships

Commercial banks here are in a quandary over whether to renew or sign partnerships with cryptocurrency exchanges in the face of ever-toughening pressure from financial regulators. For now, three Korean banks - Shinhan, NongHyup and K bank - issue real-name accounts for digital currency exchanges they have partnered with. But they also have to renew these partnerships before S...

Lee Min-hyung | 2021-04-27 17:17

Securities firms rush to acquire savings banks

A growing number of medium-sized securities firms in Korea have been acquiring savings banks lately to stabilize and diversify their profits. SK Securities acquired a 93.57 percent stake recently in MS Savings Bank for roughly 39 billion won ($35 million).

Anna J. Park | 2021-04-27 17:16

Korea posts faster-than-expected recovery in Q1

The Korean economy grew 1.6 percent quarter-on-quarter in the first three months of the year, led mostly by a recovery in exports, investment and private consumption, raising hopes for a faster rebound of Asia's fourth-largest economy this year amid the COVID-19 pandemic, data showed Tuesday.

Lee Kyung-min | 2021-04-27 16:50

Citibank Korea's board starts talks on exit plan

Citibank Korea held its first board meeting on Tuesday, after its U.S. headquarters clarified its intention to exit from consumer banking operations here and in 12 other markets.

Park Jae-hyuk | 2021-04-27 15:44

SKIET IPO subscription draws record competition ratio

The highly-anticipated initial public offering (IPO) of SK IE Technology (SKIET) led to an historic book-building competition ratio of 1,883:1, the company said in a regulatory filing. This is the highest in the nation's securities markets - the benchmark KOSPI and secondary Kosdaq.

Lee Min-hyung | 2021-04-27 14:58

Korea's economy grows faster than expected in Q1

Korea's economy expanded at a faster-than-expected pace in the first quarter, buoyed by a modest recovery of exports and fiscal policy support, amid signs that the economy is inching closer to pre-pandemic levels, the Bank of Korea (BOK) said Tuesday.

2021-04-27 10:02

Will cryptocurrency investments become another LH fiasco?

Financial Services Commission (FSC) Chairman Eun Sung-soo has ordered FSC officials handling cryptocurrency policies, Monday, to file a report on the volume of their virtual currency investments by May 7, drawing attention to whether another slew of employee misconduct allegations might be unearthed, concerning public servants abusing insider information for illicit personal ...

Lee Kyung-min | 2021-04-26 16:44

Danggeun Market's valuation soars rapidly to 2 trillion won

Danggeun Market, Korea's popular secondhand marketplace application, is seeing its corporate value grow rapidly, currently exceeding over 2 trillion won ($1.8 billion).

Anna J. Park | 2021-04-26 16:36

More venture capital firms target listing amid IPO boom

Amid the continued global initial public offering (IPO) frenzy with ample liquidity flowing into the equity market, some local venture capital firms are also planning to go public.

Anna J. Park | 2021-04-26 15:44

Tourism consumption hit hard by pandemic

Consumption expenditures in South Korea's tourism and leisure sector decreased by more than 20 percent last year due to the coronavirus pandemic, a state-funded think tank said Monday. In particular, foreigners' spending in the domestic tourism and leisure sector plunged by nearly 80 percent and the travel industry was hit hardest among the relevant industries, the Korea Cult...

2021-04-26 15:00

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