SEOUL, Jul. 4 (Korea Bizwire) — Finance Minister Choi Sang-mok called for proactive and preemptive responses Thursday to prevent possible massive changes in external circumstances from affecting South Korean exports so as to maintain economic recovery momentum. Choi made the remarks during a meeting of ministers working on external economic issues in Seoul, stressing the [...]
SEOUL, July 3 (Korea Bizwire) – South Korean financial regulators have imposed a record fine of 27.1 billion won on two subsidiaries of a global investment bank for illegal short-selling practices involving transactions worth approximately 100 billion won. The Financial Services Commission’s Securities and Futures Commission announced on July 3 that it had voted to levy [...]
SEOUL, Jul. 2 (Korea Bizwire) — The South Korean foreign exchange market had ample liquidity in the Korean won-dollar trading on the first day with extended trading hours, the finance ministry said Tuesday, vowing enhanced market monitoring to curb possible volatility. Starting Monday, the operating hours of the foreign exchange market were extended to 9 [...]
SEOUL, Jun. 26 (Korea Bizwire) – As Naver Webtoon prepares for its Nasdaq listing, the company has set its initial public offering (IPO) price, catapulting its valuation to around 3.7 trillion won. This development marks a significant milestone for the digital comics industry, challenging the long-held notion that “webtoons can’t make money.” Webtoon Entertainment, the North [...]
SEOUL, Jun. 27 (Korea Bizwire) — Online comics company Webtoon Entertainment Inc., owned by South Korea’s top internet platform, Naver, has set a price of US$21 per share, the top of its pricing range, for its plan to list itself on the U.S. stock market, as it seeks to become a “Disney in Asia.” In [...]
SEOUL, June 21 (Korea Bizwire) – Foreign currency deposits declined for the fifth straight month in May as companies withdrew part of U.S. dollar-denominated deposits amid the weakening won and to settle imports, central bank data showed Friday. Residents’ outstanding foreign currency-denominated deposits reached US$88.96 billion at end-May, down $2.39 billion from the previous month, [...]
SEJONG, Jun. 16 (Korea Bizwire) – The finance ministry announced plans to sell $1.3 billion in foreign exchange stabilization bonds, aiming to attract high-quality SSA (Sovereigns, Supranationals & Agencies) investors. The targeted investor pool includes governments, central banks, international organizations, and policy finance institutions. Foreign exchange stabilization bonds are designed to allow governments to intervene [...]
SEOUL, June 16 (Korea Bizwire) – Household loans extended by five major lenders in South Korea have risen more than 2.1 trillion won (US$1.5 billion) so far this month, industry data showed Sunday. Outstanding household loans extended by the five top lenders reached 705.4 trillion won as of June 13, compared with 703.2 trillion won [...]
SEOUL, May 29 (Korea Bizwire) – While Samsung Electronics, once riding high on expectations of reaching 1 million won per share, has again faltered in the 800,000 won range, analysts on Wall Street remain optimistic about the tech giant’s stock prospects. Foreign investors have been offloading over 7 trillion won worth of Samsung shares they had [...]
SEOUL, May 21 (Korea Bizwire) — The Korea Financial Investment Association (KOFIA) announced Tuesday it will host an international seminar next week to seek ways to develop the country’s financial market amid government-led efforts to enhance the value of local businesses. The capital market value-up seminar will be held next Tuesday in Seoul, with some [...]