SEOUL, July 25 (Korea Bizwire) — South Korea’s latest round of stimulus coupons, intended to boost domestic consumption, is drawing scrutiny as some recipients are reportedly using them to purchase large quantities of tobacco products—prompting renewed calls to restrict eligible items. According to reports gathered by Yonhap News Agency on Friday, a significant number of [...]
SEOUL, July 25 (Korea Bizwire) — As discussions intensify around the adoption of Korean won-based stablecoins, credit card companies in South Korea are scrambling to respond, concerned about potential disruption to their traditional role in the payments ecosystem. According to financial industry sources on Thursday, the Credit Finance Association and eight major credit card companies [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s credit card loan delinquency rate at general banks surged to a 20-year high in May, reflecting growing financial distress among vulnerable borrowers amid tightening credit conditions across the banking sector. According to data released Wednesday by the Bank of Korea, the delinquency rate on credit card loans [...]
SEOUL, July 24 (Korea Bizwire) — South Korea’s central bank said Thursday it will sell up to 8 trillion won (US$5.83 billion) worth of monetary stabilization bonds (MSBs) next month. The planned issuance represents an 800 billion-won increase from a month earlier, according to the Bank of Korea (BOK). As policy tools devised to absorb [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s exchange-traded fund (ETF) market reached a major milestone this week, with the total number of listed ETFs surpassing 1,000 for the first time, signaling accelerating growth in the sector. According to the Korea Exchange (KRX) on Monday, a total of 1,002 ETFs were being traded on the [...]
SEOUL, July 16 (Korea Bizwire) — A new study has revealed that the trading strategies of South Korea’s National Pension Service (NPS), which oversees more than 1,000 trillion won ($730 billion) in assets, can significantly affect market volatility and transaction costs—particularly when investments are outsourced to external managers. According to a report released Tuesday by [...]
SEOUL, July 15 (Korea Bizwire) — Executives at South Korea’s major financial holding companies are reaping substantial gains from their personal stock purchases, as share prices of leading banks surge to record highs. According to financial industry data on Tuesday, three of the nation’s top four financial groups — Shinhan, Hana, and Woori — all [...]
SEOUL, July 15 (Korea Bizwire) — South Korea’s powerful business conglomerates, or chaebol, continued a controversial pattern in 2023: funneling excessive dividends to owner families through privately held affiliates, some of which posted losses, prompting renewed concerns over shareholder inequality and market distortion. According to audit reports filed with the Financial Supervisory Service and reviewed [...]
SEOUL, July 14 (Korea Bizwire) — South Korea’s financial authorities are preparing a sweeping overhaul of capital regulations to curb excessive bank lending in real estate and steer financial resources toward high-growth industries like artificial intelligence and biotechnology. According to industry officials on July 13, the Financial Services Commission (FSC) is reviewing plans to raise [...]
SEOUL, July 13 (Korea Bizwire) — Short-selling positions in South Korea’s stock markets have surged to their highest levels since the full resumption of short-selling in March, signaling a rise in bearish bets even as local equities continue a months-long rally. According to data released Saturday by the Korea Exchange, net short interest in the [...]