SEOUL, Jul. 21 (Korea Bizwire) — The financial damage caused by cryptocurrency-related crimes reached nearly 2.7 trillion (US$2.3 billion) over the past two years, government data showed Sunday. The financial loss of scams and fraud involving cryptocurrencies came to 2.69 trillion won between July 2017 and June 2019, according to the data from the justice [...]
SEOUL, Jul. 19 (Korea Bizwire) — Professionals from both South Korea and abroad are gathering in the blockchain market as the popularity of cryptocurrencies continues to expand rapidly. Former executives from major IT, finance, and venture investment firms in the country and abroad are joining blockchain businesses as advisors. David Park, the former head of [...]
SEOUL, Jul. 4 (Korea Bizwire) — Nearly 770 foreign investors have been permitted to live legally in South Korea over the past six years under a government immigrant investor program, the Ministry of Justice said Thursday. Under the Immigrant Investor Scheme for Public Business (IISPB) program launched in May 2013, a total of 766 foreigners [...]
SEOUL, Jul. 2 (Korea Bizwire) — Hyundai Card, South Korea’s leading credit card service provider, has set up a new partnership with global networking company Techstars to help startup businesses here go abroad, the company said Tuesday. “With this partnership, Hyundai Card will offer a support program to enter the global market for the members [...]
SEOUL, Jul. 2 (Korea Bizwire) — Throughout history, a new invention or technological advance has often allowed people to carry less with them. For instance, the invention of coins helped reduce the burden of people carrying loads of goods they wished to trade. Just decades ago, it would have been considered unwise, or even unthinkable, [...]
SEOUL, Jun. 30 (Korea Bizwire) — The number of South Korean chaebol members with more than 1 trillion won (US$865 million) worth of listed shares reached 24 as of the previous trading session, data showed Sunday. The combined value of listed shares held by the 24 shareholders came to 64.3 trillion won as of the [...]
SEOUL, Jun. 28 (Korea Bizwire) — Korea Investment & Securities Co. (KIS) revealed a new South Korean stock portfolio using machine learning. KIS’s new Machine Learning Factor Model uses artificial intelligence to select 10 out of 350 factors that impact stock prices of some 2,000 listed companies. The model is designed to find a combination [...]
SEOUL, Jun. 21 (Korea Bizwire) — The Bank of Korea (BOK) said Thursday that it conducted a month-long “Pan-National Coin Exchange Campaign” in May, exchanging a total of 221 million coins worth 32.2 billion won (US$27.7 million) for banknotes. The campaign was led by the Korea Federation of Banks, Korean Federation of Community Credit Cooperatives, [...]
SEOUL, Jun. 20 (Korea Bizwire) — South Korean banks will fully open their payment system to fintech firms in December, officials said Thursday, in a move that could encourage the development of new payment services and greater competition in the financial sector. Currently, the financial payment network in South Korea has a closed system accessible [...]
SEOUL, Jun. 20 (Korea Bizwire) — South Korean energy and telecom conglomerate SK Group is likely to be the top debt seller in the first half of the year, industry data showed Thursday, as it attempted to refinance maturing debts and invest in promising businesses. According to the data compiled by Infomax, the financial news [...]