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Securities Firm Adopts Handprint Scanning for Financial Transactions

Securities Firm Adopts Handprint Scanning for Financial Transactions

SEOUL, Jan. 17 (Korea Bizwire) – NH Investment & Securities became the first securities firm in Korea to adopt a biometric authentication system that scans veins on the palm of a user’s hand, to be used for financial transactions.  According to officials, customers who register their biometric information can take advantage of the new system [...]

FSS Pays Record Cash Rewards for Reporting Violations

FSS Pays Record Cash Rewards for Reporting Violations

SEOUL, Jan. 13 (Korea Bizwire) – South Korea’s state financial watchdog said Friday it paid more than 120 million won (US$100,000) last year in cash rewards for helping punish violators of capital market rules.  A total of 120.7 million won was given to five informers of such irregularities as stock price manipulation, unfair trading and [...]

S. Korea’s Overseas Funds to Hit 100 Tln Won Soon: Watchers

S. Korea’s Overseas Funds to Hit 100 Tln Won Soon: Watchers

SEOUL, Jan. 12 (Korea Bizwire) – The net asset of South Korea’s overseas investment fund is forecast to reach 100 trillion won (US$84.5 billion) soon, as investors are seeking higher returns amid declining rates, market watchers said Thursday.  The figure hit a record high of 91.7 trillion won on Friday after surpassing the 90 trillion [...]

Corporate Debt Weighs on Korean Financial Market

Corporate Debt Weighs on Korean Financial Market

SEOUL, Jan. 11 (Korea Bizwire) – A recent analysis by the Hana Institute of Finance revealed that although Korea has a relatively stable financial market compared to 24 other emerging markets around the world, increasing corporate debt is becoming a serious risk.  In its financial risk assessment, the institute analyzed five categories, including corporate debt, [...]

S. Korea to Foster Blockchain Financial Services

S. Korea to Foster Blockchain Financial Services

SEOUL, Jan. 10 (Korea Bizwire) – South Korea’s financial authorities on Tuesday announced a plan to launch a full-scale pilot project this year on blockchain-powered financial services.  South Korea, known for its ICT prowess, has accelerated its drive for capitalizing on the new platform.  Blockchain is a key technology for the digital currency bitcoin enabling [...]

Investors More Sensitive to THAAD Issues than Anti-Graft Law

Investors More Sensitive to THAAD Issues than Anti-Graft Law

SEOUL, Jan. 6 (Korea Bizwire) – Korea’s anti-corruption law, which took effect on September 28 of last year, did not have as great an impact on the local stock market as initially expected, according to financial watchdogs.  Instead, the stock market was more sensitive to China’s retaliatory measures against Korea’s decision to deploy a THAAD [...]

Private Investors Sole Losers in KOSPI Stock Picks in 2016

Private Investors Sole Losers in KOSPI Stock Picks in 2016

SEOUL, Jan. 2 (Korea Bizwire) – Private investors were the big losers in last year’s stock market, a contrast to institutional and foreign investors that ended the year on the plus side, financial industry data showed Monday.  The top 20 most-purchased stocks by private investors in the main bourse KOSPI ended 33.07 percent down by [...]

S. Korea’s Fintech Firms Seek to Tap into China

S. Korea’s Fintech Firms Seek to Tap into China

SEOUL, Dec. 22 (Korea Bizwire) – South Korea made a pitch Thursday for its financial technology, or fintech, in China under the government’s campaign to support related startups here seeking to do business abroad.  The state-funded Fintech Center held the “Fintech Demo Day in Beijing” event, joined by five South Korean firms and potential business [...]

Korean Investors Shun Shenzhen-Hong Kong Stock Connect

Korean Investors Shun Shenzhen-Hong Kong Stock Connect

SEOUL, Dec. 16 (Korea Bizwire) – It has been almost two weeks since China’s ambitious Shenzhen-Hong Kong Stock Connect was launched, but the trading link has so far failed to drum up much excitement, at least from the point of view of Korean investors.  According to the Korea Financial Investment Association, the aggregate trade volume [...]