SEOUL, June 23 (Korea Bizwire) — South Korea’s overseas financial assets touched a new high last year as investment in advanced economies rose amid stock rallies, central bank data showed Wednesday. As of the end of 2020, the outstanding financial assets invested overseas by South Korean entities came to about US$1.519 trillion, up $207.2 billion [...]
SEOUL, June 23 (Korea Bizwire) — Viva Republica Inc., the operator of popular South Korean financial app Toss, said Wednesday it has raised 460 billion won (US$407.5 million) in its latest funding with a valuation at 8.2 trillion won. The latest funding boosts Viva Republica’s valuation by nearly three times since its previous funding in [...]
SEOUL, June 20 (Korea Bizwire) — Kakao Corp., which operates South Korea’s most popular mobile messenger Kakao Talk, emerged as the country’s fifth-largest conglomerate in terms of market cap on the back of the recent gains from the main bourse, data showed Sunday. The combined market cap of Kakao and its affiliates came to 73.9 [...]
SEOUL, June 16 (Korea Bizwire) – Cryptocurrency exchanges here are removing some coins from their trading platforms as they are bracing for tough regulations on digital currency transactions set to be introduced in September, inducing sharp falls in prices and irking investors, industry sources said Wednesday. At least 11 of 20 certified cryptocurrency exchanges have [...]
SEOUL, June 11 (Korea Bizwire) — South Korea retail investors have traded more than US$1.7 billion worth of shares in AMC Entertainment Holdings Inc., one of the social media-driven meme stocks, this month, data showed Friday. Local individual investors’ transactions of shares in the top U.S. movie theater chain came to $1.76 billion in the [...]
SEOUL, June 2 (Korea Bizwire) — Smaller cryptocurrency exchanges are scrambling to kick out so-called altcoins as a new amendment bill for reporting and using specified financial transaction information is soon to take effect. By September, all cryptocurrency exchanges must offer Information Security Management System (ISMS) authorization and bank account connections to stay in business. [...]
SEOUL, June 2 (Korea Bizwire) — South Korean investors’ purchase of shares in electric vehicle leader Tesla Inc. hit a one-year low in May amid a drop in its price, data showed Wednesday. Domestic investors bought a net US$80.8 million worth of Tesla shares in May, the lowest amount in one year, according to the [...]
SEOUL, May 19 (Korea Bizwire) — The number of retail investors who own less than a 1 percent stake in Samsung Electronics Co. is estimated at about 4 million. According to a quarterly report submitted by the South Korea’s electronics giant on Monday, the company had roughly 3.9 million individual shareholders as of March 31. [...]
SEOUL, May 18 (Korea Bizwire) — South Korean retail investors buying foreign stocks have turned to net sellers of shares in electric vehicle leader Tesla Motors Inc. for the first time in the past 18 months. While Tesla’s share price has fallen this month, its CEO Elon Musk’s recent behavior has also risen as a [...]
SEOUL, May 11 (Korea Bizwire) — Battery materials maker SK IE Technology Co. (SKIET) made a disappointing market debut on the main bourse Tuesday despite the huge market interest shown in its subscription last week. The subsidiary of refinery and battery firm SK Innovation Co. closed at 154,500 won (US$138), down 26.43 percent from its [...]