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Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

SEOUL, May 24 (Korea Bizwire) — Prosecutors said Thursday they launched an investigation into officials of Samsung Securities Co. over the massive dividend error in April that jolted the local financial market. The Seoul Southern District Prosecutors’ Office said a probe has begun based on the complaint filed by the Financial Supervisory Service early this [...]

Foreign Investors See Opportunity in Local Bourse

Foreign Investors See Opportunity in Local Bourse

SEOUL, May 22 (Korea Bizwire) — There are over 20,000 overseas funds – the likes of billionaire Paul Singer’s Elliott Management Corp – that have invested in the South Korean stock market, according to the Financial Supervisory Service (FSS). As of March, the number of foreign collective investment companies, or “funds”, registered with the government [...]

‘Silver’ Investors on the Rise

‘Silver’ Investors on the Rise

SEOUL, May 21 (Korea Bizwire) — As the South Korean population slowly ages, the number of elderly investors over 65 are also on the rise in the finance industry. According to a report released on Saturday by the Financial Supervisory Service, 23.6 percent (23.5 trillion won) of the total funds offered by financial institutions (99.9 [...]

With Frenzy Waning, Cryptocurrency Operators Forced to Seek New Paths

With Frenzy Waning, Cryptocurrency Operators Forced to Seek New Paths

SEOUL, May 21 (Korea Bizwire) — As warnings of a bursting bubble and toughening state regulations have led to a drastic downturn of South Korea’s digital currency market, local exchanges are struggling over how to remain viable going forward. Some have moved to diversify their businesses by making the most out of blockchain technology, but [...]

Samsung BioLogics Expresses Concerns over FSS’s Leak of Sensitive Information

Samsung BioLogics Expresses Concerns over FSS’s Leak of Sensitive Information

SEOUL, May 8 (Korea Bizwire) — South Korea’s major biopharmaceutical firm Samsung BioLogics Co., which has been embroiled in an alleged violation of accounting rules, on Tuesday expressed concern over the financial watchdog’s disclosure of sensitive information. “We express deep concern and regret over the situation where sensitive information surrounding the case, which is under [...]

South Korean Bourse Taps Artificial Intelligence

South Korean Bourse Taps Artificial Intelligence

SEOUL, May 4 (Korea Bizwire) — The Korea Exchange announced Thursday that it has initiated a new market surveillance system based on artificial intelligence. The main bourse operator said the construction of the new system, EXIGHT, was complete and a kickoff celebration was held the same day. EXIGHT is a portmanteau of the words “exchange” [...]

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 [...]