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Foreigners’ Presence in KOSDAQ Market Grows in 2018: Data

Foreigners’ Presence in KOSDAQ Market Grows in 2018: Data

SEOUL, Aug. 6 (Korea Bizwire) — Foreigners’ turnover in South Korea’s secondary stock market rose this year, while their proportion in the main bourse moved down, data showed Monday. The overseas investors took up 9 percent of the daily turnover in the tech-laden KOSDAQ market during the first seven months of the year, up 1.6 [...]

Pension Fund Forecast to Be Depleted Earlier Than Predicted: Sources

Pension Fund Forecast to Be Depleted Earlier Than Predicted: Sources

SEOUL, Aug. 2 (Korea Bizwire) — South Korea’s national pension could run out of money by 2056 or 2057 if current financial conditions continue, three to four years earlier than previously projected by the government, official sources said Thursday. The government conducts reviews on the financial soundness of the National Pension Service (NPS) every five [...]

Top 10 Conglomerates Suffer Drop in Market Caps As Stocks Tumble

Top 10 Conglomerates Suffer Drop in Market Caps As Stocks Tumble

SEOUL, Aug. 1 (Korea Bizwire) — The market value of firms affiliated with South Korea’s top 10 conglomerates has fallen off this year as their stocks were affected by bearish market conditions, data showed Wednesday. The combined market value of listed firms belonging to the 10 leading business groups came to 913.2 trillion won (US$814 [...]

Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

SEOUL, Jul. 26 (Korea Bizwire) — The financial regulator on Thursday ordered Samsung Securities Co. to suspend part of its operations for six months as punishment for the brokerage’s “fat-finger” error that sparked a massive public uproar. Samsung Securities will be banned from offering its services to new investors for six months from Friday, the [...]

8 Samsung Securities Officials to Stand Trial over Stock Blunder

8 Samsung Securities Officials to Stand Trial over Stock Blunder

SEOUL, Jul. 9 (Korea Bizwire) — Eight Samsung Securities officials have been indicted for selling “ghost” stocks that were mistakenly issued by the company in the massive fat-finger error that recently rattled the market, prosecutors said Monday. Three employees, including a 37-year-old surnamed Koo, will stand trial while being detained, with five others from the [...]

Hyundai Motor’s Market Cap Hits 8-year Low

Hyundai Motor’s Market Cap Hits 8-year Low

SEOUL, Jul. 5 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. has seen its market capitalization touch an eight-year low as slumping global sales pound its share price, data showed Thursday. Shares of Hyundai Motor closed at 119,500 won (US$107) on Wednesday, the lowest closing price since April 19, 2010, according to the [...]

Samsung Securities Fined for ‘Fat-Finger’ Fiasco

Samsung Securities Fined for ‘Fat-Finger’ Fiasco

SEOUL, Jul. 4 (Korea Bizwire) — South Korea’s financial regulator said Wednesday that it approved the slapping of 144 million won (US$129,148) in fines on Samsung Securities Co. over its massive “fat-finger” error. Read More: Samsung Securities to Pay Huge Price for Its Fat-finger Error Holding a regular meeting earlier in the day, the Securities and [...]

S. Korea Vows to Boost Global Ties for KOSDAQ Market Growth

S. Korea Vows to Boost Global Ties for KOSDAQ Market Growth

SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s bourse operator said Monday it will strengthen cooperation with global entities to attract more foreign investment into the country’s secondary stock market so as to turn it into the world’s top trading venue for tech shares. The tech-laden KOSDAQ market marked the 22th anniversary of its establishment [...]

Regulator to Step Up Oversight of Bank Accounts for Cryptocurrency Trading

Regulator to Step Up Oversight of Bank Accounts for Cryptocurrency Trading

SEOUL, Jun. 27 (Korea Bizwire) — The financial regulator said Wednesday it will bolster oversight of bank accounts used for cryptocurrency transactions, in the latest effort to prevent cryptocurrencies from being exploited for money laundering. In a statement, the Financial Services Commission (FSC) said it will step up monitoring of money transfers between local and [...]

Samsung Securities to Pay Huge Price for Its Fat-finger Error

Samsung Securities to Pay Huge Price for Its Fat-finger Error

SEJONG, June 23 (Korea Bizwire) — The financial watchdog’s punishment against Samsung Securities Co. over its fat-finger error will not make a financial dent, but it could weaken its market position in the long run, experts said Saturday. On Thursday, the Financial Supervisory Service (FSS) decided to recommend that Samsung Securities should face a six-month [...]