SEOUL, Feb. 27 (Korea Bizwire) — The number of initial public offerings (IPOs) and the amount of funds raised from the process in 2022 decreased sharply due to market uncertainty caused by inflation and monetary tightening in major countries, data showed Monday. A total of 70 companies made their debuts on the main KOSPI and [...]
SEOUL, Feb. 14 (Korea Bizwire) — Kakao Pay Corp., the online payment unit of South Korean tech giant Kakao Corp., is expected to see its earnings and share price decline due to Apple Pay’s debut in the country. DB Financial Investment last week downgraded shares of Kakao Pay from “buy” rating to “hold.” Considering that [...]
SEOUL, Feb. 9 (Korea Bizwire) — Foreign investors’ net selling of South Korean securities slowed sharply in January as they increased holdings of stocks amid expectations the U.S. Federal Reserve would slow monetary tightening and China’s economy would recover, central bank data showed Thursday. The value of their combined investment in local securities — stocks [...]
SEJONG, Feb. 7 (Korea Bizwire) — South Korea plans to more than double its foreign-exchange trading hours and allow offshore firms to participate in the market in line with efforts to attract more investment from overseas, the financial authorities said Tuesday. Under the plan, Asia’s No. 4 economy will extend the operating hours of its [...]
SEOUL, Feb. 7 (Korea Bizwire) — After the government announced that it would allow security token offerings, South Korean brokerages are doubling down on efforts to launch related services. Shinhan Securities Co., for instance, announced on Monday that it will set up a security token offering (STO) alliance. An STO alliance is an organization that [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korea’s bourse operator said Tuesday it will push to open the derivative market earlier and allow for nighttime trading in the area as part of efforts to upgrade investment practices to global standards and reduce volatility. Currently, derivative trading in South Korea starts at 9 a.m., the same [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s financial regulator said Tuesday it plans to abolish the existing mandatory registration policy for foreigners investing in local stocks within this year, in line with efforts to meet global standards. The move came as foreigners are currently required to file personal information with local financial authorities before [...]
SEOUL, Jan. 19 (Korea Bizwire) — South Korea’s leading asset manager Mirae Asset Global Investments Co. said Thursday it has purchased a logistics center near India’s financial hub of Mumbai in the latest move to expand its portfolio in one of the world’s fastest growing economies. Earlier this month, the firm’s Indian unit, Mirae Asset [...]
SEOUL, Jan. 16 (Korea Bizwire) — The number of fabricated South Korean banknotes hit a record low in 2022 on increased non-cash transactions amid the pandemic, central bank data showed Monday. The number of counterfeit banknotes found in South Korea last year came to 150, down from the previous record low of 176 a year [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea will extend trading hours of its foreign exchange market as part of its efforts to make Asia’s No. 4 economy a more attractive investment destination, the finance minister said Thursday. Finance Minister Choo Kyung-ho said the South Korean government will consider extending its foreign-exchange trading hours to [...]