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Finance

Fri, May 14, 2021 | 23:08

Korea urged to overhaul regulations on cryptocurrencies

The financial authorities here are facing growing calls to recognize cryptocurrencies as a new asset class and preemptively overhaul regulations in order to prevent virtual asset-related fraud and protect individual investors. Such calls come as cryptocurrencies are increasingly becoming a mainstream form of investment in Korea. According to Coin Market Cap, a popular data so...

Yi Whan-woo | 2021-05-09 16:04

67% of Koreans say vaccination passports will help economy: poll

Nearly 70 percent of South Koreans believe that the use of a vaccination passport, which proves that a person has been fully vaccinated against the virus, will help the economy, a poll showed Sunday.

2021-05-09 11:28

Dogecoin in spotlight as cryptocurrency backer Musk makes 'SNL' appearance

With the price of dogecoin surging, investors are looking ahead to Elon Musk's guest-host spot on this weekend's "Saturday Night Live" comedy sketch TV show after the billionaire's tweets this year turned the once-obscure digital currency into a speculator's dream.

2021-05-09 10:02

Finance ministry to help build infrastructure for SK hynix

An industrial complex housing SK hynix in Yongin, Gyeonggi Province, will be granted increased supplies of water and electricity - crucial elements needed to fabricate memory chips - to demonstrate the country's efforts in assisting the advancements of “strategic items,” government sources said, Friday.

Lee Kyung-min | 2021-05-07 16:48

Kakao, Naver eyeing $8.9 mil. investment in insurance firm

Naver and Kakao are looking at investing in a local independent insurance broker as a way to expand their portfolios in the financial sector, according to industry sources, Friday.

Kim Yoo-chul | 2021-05-07 16:26

Banks rushing to tap into new business of safekeeping digital assets

Korean banks are moving to make rapid inroads into the “digital custody” business or the safekeeping of cryptocurrency by enhancing partnerships with blockchain-powered security players. Given the unprecedented global craze for cryptocurrency transactions, the market for the service is widely expected to grow at an alarming pace.

Lee Min-hyung | 2021-05-07 16:18

Foreign investors account for around 90% of short selling after partial lifting of investment method ban

Foreign investors accounted for about 90 percent of short-selling transactions in the first three trading days following the partial lifting of restrictions on the investment method on May 3, data showed Friday.

Lee Kyung-min | 2021-05-07 15:28

Financial Supervisory Service faces leadership vacuum amid economic uncertainty

The Financial Supervisory Service (FSS) is facing a leadership vacuum as Governor Yoon Suk-heun ends his three-year tenure on Friday.

Lee Min-hyung | 2021-05-07 15:27

'Korea's credit default swap premium lowest since 2008 global financial crisis'

Korea's credit default swap (CDS) premium, an indicator that shows the country's risk of national bankruptcy, hit its lowest level since the global financial crisis in 2008, advancing the prospect of a faster economic recovery amid the COVID-19 pandemic, the finance ministry said Thursday.

Lee Kyung-min | 2021-05-06 16:40

Gov't urged to share 'balanced' cryptocurrency policy

Some government officials are issuing a series of warnings against what they call cryptocurrency “speculation” to quell an escalating virtual currency frenzy here.But the “anti-crypto” approach keeps adding to the volatility of the market, driving more and more young people to get addicted to cryptocurrency investments under the strong belief that this is the only way for the...

Lee Min-hyung | 2021-05-06 16:39

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