SEOUL, Nov. 3 (Korea Bizwire) — After a steep rally followed by a sharp correction, global gold prices appear to be stabilizing and preparing for another climb, analysts said Sunday. According to data from the Chicago Mercantile Exchange’s COMEX market, December gold futures closed at $4,013.40 per ounce on October 31, down 0.06 percent from the [...]
SEOUL, Oct. 31(Korea Bizwire) — South Korea is set to launch its first interbank-style foreign exchange brokerage platform for institutional clients, allowing companies, pension funds, and asset managers to compare multiple bank quotes in real time and trade at the most favorable rates. FXONE, the nation’s first customer-facing foreign exchange brokerage firm, held its inaugural general [...]
SEOUL, Oct. 30 (Korea Bizwire) — A fierce contest has erupted among major financial institutions and fintech startups in South Korea as they vie for preliminary approval to operate the country’s first licensed trading platforms for fractional investments. According to industry sources, three consortiums have submitted applications ahead of the October 31 deadline, with the [...]
SEOUL, Oct. 30 (Korea Bizwire) — South Korea’s financial authorities are moving to tighten oversight of insurance agents in an effort to curb their involvement in fraud, introducing measures that would mandate pre-screening and expand public disclosures of disciplinary records. The Financial Services Commission said Wednesday it discussed the reforms during a meeting of the Insurance [...]
SEOUL, Oct. 29 (Korea Bizwire) – South Korean stocks set a fresh record high Wednesday on hopes for the Seoul-Washington summit and a potential supply deal with Nvidia. The local currency was trading higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 70.74 points, or 1.76 percent, to close at [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea has convened labor, business and government representatives to pursue the first major overhaul of the nation’s retirement pension system in more than two decades, aiming to strengthen income security for an aging workforce. The Ministry of Employment and Labor on Tuesday launched a tripartite task force dedicated to [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s Mirae Asset Securities will resume U.S. daytime trading services next month, expanding access for retail investors amid continued enthusiasm for overseas equities, the company said Tuesday. Beginning Nov. 4, investors will be able to trade U.S. stocks between 10 a.m. and 5:15 p.m. Seoul time. Combined with existing [...]
SEOUL, Oct. 28 (Korea Bizwire) — Foreign investors have been the primary force behind South Korea’s stock market rally, with those from the United States and Ireland contributing the most to the benchmark index’s historic rise past the 4,000-point threshold, according to newly released regulatory data. From June through September, when the KOSPI’s rapid ascent [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korea’s issuance of equity-linked securities (ELS) in the third quarter rose sharply on-year amid the local stock market’s bullish run, industry data showed Tuesday. The total value of ELS products issued in the July-September period stood at 12.8 trillion won (US$8.9 billion), 35.9 percent higher compared with the [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s benchmark stock index surged past the 4,000 mark for the first time on Monday, a milestone that has energized investors and set off new warnings that the market may be overheating. The Kospi has soared nearly 18 percent in October alone, repeatedly setting record highs in recent weeks. [...]