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Fri, September 17, 2021 | 06:18
Seoul's dream to become financial hub evaporating
Korea’s ambitious plan to establish Seoul as one of Asia’s three financial hubs is adrift, analysts said Friday, as global financial groups are closing their offices here, or downsizing their businesses. Multinational financial firms pointed out that Korea is no longer an attractive market, saying there are few merits here for them to keep doing business.
KRX chief expresses globalization ambition
The head of the stock market operator unveiled Thursday his ambition to take the Korea Exchange (KRX) global by improving its trading regulations and infrastructure to meet international standards.
Stocks plunge on massive foreign sell-offs
Seoul shares fell 2.34 percent Wednesday, hit by heavy sell-offs by foreign investors amid growing concerns over fallout from the slowing Chinese economy and falling oil prices.
Barclays to close Seoul office
British banking group Barclays will close its Seoul office as part of its global slimming down strategy, an official from the financial regulator said Wednesday.
Foreign law firms urge parliament to amend bill to open legal market wider
Foreign law firms said Tuesday that the National Assembly needs to amend a bill regarding the scope of services they can offer in order to help further open the legal market, arguing that the country’s law firms and attorneys will eventually benefit from such a change.
Regulator checks out short selling of Hyundai Securities stock
The financial regulator said Friday that it is collecting information on short selling the stock of Hyundai Securities last week, suspecting some investors gained returns with undisclosed information.
Millennials express little loyalty to employers
Millennials expressed little loyalty to their employers, with two-thirds expected to leave their workplace in five years, a survey from a global consulting firm showed Friday.
Regulator launches investigation into SK chief's mistress
The financial regulator launched an investigation into SK Group Chairman Chey Tae-won’s mistress over her alleged violation of the foreign exchange trade law, local media reported Thursday.
Macquarie faces criticism over cash-only toll road
Australian investment banking giant Macquarie Group faces criticism here over its cash-only policy at a toll road in Gwangju, inconveniencing drivers by not accepting credit cards or prepaid cards, officials from the southwestern city said Thursday.
Big Mac Index shows strong dollar prevails
Korean consumers can buy a McDonald’s Big Mac for $3.59, while Americans pay $4.93 for the burger, as the local currency weakens against the U.S. dollar, a British financial magazine reported Tuesday.