SEOUL, Nov. 30 (Korea Bizwire) — Households may have to cope with higher mortgage rates as the Bank of Korea (BOK) raised its key interest rate for the first time in a year, market watchers said Friday. In a widely anticipated move to cool property prices, the BOK lifted its key rate by 25 basis [...]
SEOUL, Nov. 21 (Korea Bizwire) — The Financial Supervisory Service (FSS), in collaboration with KB Kookmin Bank and Amazon Web Services, has developed an AI algorithm that can distinguish smishing. Smishing refers to a combination of SMS and phishing. It is a form of financial fraud where clicking on a certain web address sent via [...]
SEOUL, Nov. 19 (Korea Bizwire) – Retail investors are estimated to hold more than 3 trillion won worth of Samsung BioLogics Co. shares, whose trading was suspended last week over window-dressing, a corporate researcher said Monday. As of last Wednesday, individual investors owned an estimated 9.6 million shares of Samsung BioLogics, or 14.53 percent, according [...]
SEOUL, Nov. 18 (Korea Bizwire) — South Korea’s No. 1 conglomerate, Samsung, saw its market capitalization fall nearly 12 percent this year due to losses in tech and bio shares, a corporate tracker said Sunday. The combined market value of its 16 listed companies came to 418.33 trillion won (US$369.5 billion) as of Wednesday, down [...]
SEOUL, Nov. 14 (Korea Bizwire) — South Korea’s financial markets will start trading an hour later than usual on Thursday due to the nationwide college entrance exam, the bourse operator has said. Trading on the main KOSPI and secondary KOSDAQ stock markets, as well as the bond market and the over-the-counter (OTC) stock market, will [...]
SEOUL, Nov. 9 (Korea Bizwire) — Being a homeowner has become more difficult for Hwang Jin-kyu, a 38-year-old software engineer who has been trying to buy a three-bedroom apartment in northern Seoul for months. He sought to borrow about 200 million won (US$178,300) from a bank to buy the 79.3-square-meter home, but his application for [...]
SEOUL, Nov. 1 (Korea Bizwire) — The aging of the workforce will put pressure on South Korea’s economic and fiscal strength and affect its long-term sovereign credit profiles, a global ratings agency has said. In its latest report, released Wednesday, Moody’s Investors Service said the credit ratings of South Korea and Japan will come under [...]
SEOUL, Nov. 1 (Korea Bizwire) — The government and the ruling Democratic Party (DP) on Thursday unveiled measures to revitalize the capital market, including helping startups raise funds more easily and easing regulations on private equity funds (PEFs). Government and DP officials held a meeting to discuss ways to rev up the capital market as [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s top cryptocurrency exchange Bithumb has signed a deal with a U.S. fintech company to set up a security token exchange in America, industry sources said Thursday. The agreement with SeriesOne calls for Bithum to invest in and provide technical support for the establishment of the envisioned security [...]
SEOUL, Oct. 29 (Korea Bizwire) — Major South Korean financial firms vowed Monday to establish an emergency monitoring system to better respond to market instability, their association said. The pledge came after chiefs of 12 local securities firms and nine asset management companies held an emergency meeting earlier in the day to assess the current [...]