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Foreign Shareholders Take Nearly Half of Cash Dividends in 2017

Foreign Shareholders Take Nearly Half of Cash Dividends in 2017

SEOUL, Apr. 25 (Korea Bizwire) — Nearly half of cash dividends from South Korean conglomerates last year went to foreign shareholders, with Samsung Electronics leading the pack, data from the financial regulator showed Wednesday. The top 30 listed firms in terms of market cap paid 17.39 trillion won (US$16.13 billion) in cash dividends in 2017, [...]

Analysts Watch for End of ‘Korea Discount’ on Prospects of Peace Treaty

Analysts Watch for End of ‘Korea Discount’ on Prospects of Peace Treaty

SEOUL, Apr. 19 (Korea Bizwire) — A peace treaty that would finally end the 1950-53 Korean War, one of the growing prospects for the upcoming cross-border summit next week, may also end the chronic “Korea discount” in the stock market, analysts said Thursday. South Korean President Moon Jae-in will meet North Korea’s top leader Kim [...]

Regulator Extends Samsung Securities Probe Over Dividend Chaos

Regulator Extends Samsung Securities Probe Over Dividend Chaos

SEOUL, April 16 (Korea Bizwire) – The Financial Supervisory Service (FSS) said Monday it has extended its inspection into Samsung Securities over brokerage’s “fat-finger” dividend chaos that shocked the country. The inspection had been completed on Thursday but has been stretched out to April 27 to “figure out special details” of the dividend error, the FSS said in a statement. [...]

HKEX Deploys Nasdaq SMARTS Machine Learning Technology for Market Surveillance

HKEX Deploys Nasdaq SMARTS Machine Learning Technology for Market Surveillance

STOCKHOLM, Sweden, Apr. 16 (Korea Bizwire) — Nasdaq Inc. (Nasdaq:NDAQ) has announced that Hong Kong Exchanges and Clearing Limited (HKEX) is the first exchange customer in Asia to successfully deploy Nasdaq SMARTS Market Surveillance’s latest machine learning and participant relationship discovery technology across its equity market, enhancing its capabilities to safeguard market integrity, and better protect [...]

Brokerages Expect 16 pct On-yr Jump in Listed Firms’ Q1 Operating Profit

Brokerages Expect 16 pct On-yr Jump in Listed Firms’ Q1 Operating Profit

SEOUL, Apr. 15 (Korea Bizwire) — South Korean brokerages on Saturday forecast that 128 companies listed on the main bourse will post a 16 percent on-year jump in combined operating profit in the first quarter. Local brokerages estimated the 128 listed firms on the Korea Exchange (KRX) will post a combined operating profit of 46.8 [...]

Number of Kakao Debit Card Holders Reaches 500,000 in 90 Days

Number of Kakao Debit Card Holders Reaches 500,000 in 90 Days

SEOUL, April 13 (Korea Bizwire) – Kakao Corp., a major mobile messenger service provider, said Friday it issued some 500,000 debit cards during the 90 days since the cards were launched. The operator of Kakao Talk began the debit card service in January to enter the offline payment business. While Kakao Corp. was already working with commercial banks and credit card firms, it decided to issue its own cards to enable offline use by more [...]

Private Equity Deals in S. Korea Jump in 2017

Private Equity Deals in S. Korea Jump in 2017

SEOUL, Apr. 11 (Korea Bizwire) — Investment deals by South Korea’s private equity funds jumped 39.3 percent on-year in 2017, but their investments were still centered on local firms, government data showed Wednesday. Local private equity groups invested 12.4 trillion won (US$11.6 billion) last year, compared with 8.9 trillion won in 2016, according to the [...]

Regulator Inspects Samsung Securities over ‘Fat-finger’ Dividend Chaos

Regulator Inspects Samsung Securities over ‘Fat-finger’ Dividend Chaos

SEOUL, Apr. 9 (Korea Bizwire) — South Korea’s financial regulator on Monday launched a special inspection into Samsung Securities Co. over the brokerage’s “fat-finger” trading chaos after it paid windfall stocks to its employees as dividends. Under an employee stock ownership plan, Samsung Securities had been planning to pay cash dividends of 1,000 won (US$0.93) [...]

Cryptocurrency Operators’ Profits Soar in 2017: Data

Cryptocurrency Operators’ Profits Soar in 2017: Data

SEOUL, Apr. 4 (Korea Bizwire) — South Korea’s cryptocurrency exchange operators reaped huge profits in 2017 on the back of the national frenzy over digital money, data showed Wednesday. The annual turnover of BTC Korea.com, which is in charge of local cryptocurrency exchange Bithumb, stood at 333.4 billion won (US$315.6 million) in 2017, up a [...]