SEOUL, Apr. 25 (Korea Bizwire) – South Korea unveiled a plan Thursday to detect illegal stock short selling via a centralized monitoring system after it banned such trades in November last year. Under the plan, the Korea Exchange, the country’s bourse operator, will set up a monitoring system to detect illegal trades that short stocks [...]
SEOUL, Apr. 24 (Korea Bizwire) – The persistently high interest rate environment in South Korea has triggered a wave of cancellations for low-yielding savings-type insurance policies, driving down the two-year policy retention rate at insurers to a mere 65% last year, according to data released on April 23. The Financial Supervisory Service (FSS), the government’s financial [...]
SEOUL, Apr. 23 (Korea Bizwire) — Finance Minister Choi Sang-mok met with experts of economic and international affairs Tuesday and discussed responses to growing uncertainties in the Middle East, the finance ministry said. During a meeting of the international economic advisory panel in Seoul, experts called on the government to “check developments and assess potential [...]
SEOUL, April 21 (Korea Bizwire) – Corporate direct financing in South Korea shrank more than 22 percent from a month earlier in March due to a sharp decline in corporate bond issuances, data showed Sunday. Local firms raised a combined 20.5 trillion won (US$14.86 billion) by selling stocks and bonds last month, down 22.5 percent [...]
WASHINGTON, April 19 (Korea Bizwire) – The won-dollar exchange rate may move toward stabilization if tensions in the Middle East do not escalate further, the chief of South Korea’s central bank forecast Friday, noting “many uncertainties” stemming from developments in the region. Bank of Korea (BOK) Gov. Rhee Chang-yong made the prediction as concerns over [...]
SEOUL, Apr. 19 (Korea Bizwire) — South Korea will create venture capital funds of 23 trillion won (US$16.57 billion) in the clean energy fields to promote investment in green growth, the top economic policymaker has said. Finance Minister Choi Sang-mok announced the plan during a meeting of finance ministers and central bank deputies of the [...]
SEOUL, Apr. 17 (Korea Bizwire) – South Korean and Japanese finance ministers have voiced serious concerns over the sharp weakening of their currencies against the U.S. dollar and said they can take steps to curb market volatility amid escalating tensions in the Middle East, Seoul’s finance ministry said Wednesday. The verbal intervention by South Korea’s [...]
SEOUL, Apr. 9 (Korea Bizwire) – Samsung Electronics emerged as the most popular stock trading among South Korean minors so far this year, while Tesla and Apple led the charge in overseas equities, according to an analysis by Shinhan Investment Corp. In a review of the top 10 stocks traded by its underage clients from January [...]
SEOUL, Apr. 3 (Korea Bizwire) — The financial regulator and Naver, the top online portal operator, signed an agreement Wednesday on cooperation for the digitalization of the financial sector. Under the memorandum of understanding, the Financial Supervisory Service (FSS) will seek to utilize Naver’s latest information technology, such as artificial intelligence (AI), to boost its [...]
SEOUL, Mar. 28 (Korea Bizwire) — South Korea has failed to be added to the World Government Bond Index (WGBI) run by FTSE Russell, the London-based organization said Thursday. South Korea will remain on its watch list for a potential upgrade to a market accessibility level of 2 from 1 and consideration for inclusion in [...]