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Finance

Mon, October 3, 2022 | 14:07

Brokerages earn $16.5 mil. in short selling fees in H1: data

Brokerages in Korea raked in a combined 23.61 billion won ($16.5 million) in fees from handling stock short selling in the first half of this year, data showed Tuesday.

2022-09-27 10:14

Inflation expectations fall for second consecutive month in Sept.: BOK data

Korea's inflation expectations declined for a second straight month in September amid falling oil prices, a central bank survey showed Monday.

2022-09-27 09:40

OECD cuts South Korea's 2023 growth outlook to 2.2 percent

The Organization for Economic Cooperation and Development (OECD) on Monday lowered its outlook for South Korea's growth for next year, citing uncertainties in the global economy.

2022-09-26 21:49

Hanwha Group to take over debt-ridden DSME for 2 trillion won

Hanwha Group will take over debt-ridden Daewoo Shipbuilding & Marine Engineering (DSME) as the two firms signed a preliminary investment deal on a conditional sale, Korea Development Bank (KDB) said Monday. The state-run bank, which is the main creditor and largest shareholder of DSME with a 55.7 percent stake, said Hanwha Group signed a memorandum of understanding (MOU) to a...

Yi Whan-woo | 2022-09-26 19:48

SC Bank Korea offers special rates to new customers

Standard Chartered (SC) Bank Korea is offering a special interest rate of up to 2.4 percent per year, before tax, to new customers who subscribe to its money market deposit accounts (MMDA) by Sept. 29.

2022-09-26 17:23

Mirae Asset's IFC purchase deal falls apart

Mirae Asset's plan to purchase International Finance Center (IFC) Seoul from Toronto-based Brookfield Asset Management has fallen apart, some four months after the two sides signed a memorandum of understanding (MOU) in May this year agreeing to a 4 trillion won ($2.79 billion) deal. According to investment banking sources Monday, Mirae Asset has filed a case with Singapore I...

Anna J. Park | 2022-09-26 17:12

Korean stocks, currency slide amid fears of inflation, recession

Korean stocks and the local currency fell sharply amid heightened fears of inflation and a recession following the U.S. Federal Reserve's third straight “giant step” rate hike of 75 basis points last week. The benchmark KOSPI closed at 2,220.94, Monday, down 3.02 percent from the previous session. The tech-heavy Kosdaq reported a bigger loss of 5.07 percent and failed to defe...

Lee Min-hyung | 2022-09-26 16:41

Hedera eyes more partnerships with Korean banks, tech firms

BUSAN - Hedera Hashgraph, a distributed ledger technology network, will expand its partnerships with Korean tech players and financial firms by leveraging its fixed low costs and decentralized tracking and verification system, Leemon Baird, its inventor and co-CEO of Swirlds Labs, said in an interview. Hedera is a public cryptocurrency network platform for enterprises to crea...

Lee Min-hyung | 2022-09-26 16:20

Interpol red notice issued for wanted founder of Terraform

The International Criminal Police Organization (Interpol) has issued a red notice for Do Kwon, the founder of Terraform Labs accused of fraud following the massive collapse of the firm's cryptocurrencies in May, officials said Monday.

2022-09-26 14:32

Inflation to stabilize at slow pace due to won's weakness: BOK chief

Korea's consumer prices are likely to peak in October, but they may stabilize at a slow pace due to the local currency's sharp weakness against the U.S. dollar, the chief of the central bank said Monday.

2022-09-26 11:34

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