SEOUL, Nov. 1 (Korea Bizwire) — The aging of the workforce will put pressure on South Korea’s economic and fiscal strength and affect its long-term sovereign credit profiles, a global ratings agency has said. In its latest report, released Wednesday, Moody’s Investors Service said the credit ratings of South Korea and Japan will come under [...]
SEOUL, Nov. 1 (Korea Bizwire) — The government and the ruling Democratic Party (DP) on Thursday unveiled measures to revitalize the capital market, including helping startups raise funds more easily and easing regulations on private equity funds (PEFs). Government and DP officials held a meeting to discuss ways to rev up the capital market as [...]
SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s top cryptocurrency exchange Bithumb has signed a deal with a U.S. fintech company to set up a security token exchange in America, industry sources said Thursday. The agreement with SeriesOne calls for Bithum to invest in and provide technical support for the establishment of the envisioned security [...]
SEOUL, Oct. 29 (Korea Bizwire) — Major South Korean financial firms vowed Monday to establish an emergency monitoring system to better respond to market instability, their association said. The pledge came after chiefs of 12 local securities firms and nine asset management companies held an emergency meeting earlier in the day to assess the current [...]
SEOUL, Oct. 22 (Korea Bizwire) — As the size of real estate-related financial funds and real estate investment trusts – also known as a type of “shadow banking system” – surpasses 300 trillion won, critics say that the government should do more to manage the risks involved with such investments. According to a financial brief [...]
SEOUL, Oct. 22 (Korea Bizwire) — More than 20 billion won in South Korean coins and bills has been traded in for new currency over the past five years. Rep. Shim Jae-chul, a member of the Strategy and Finance Committee at the National Assembly, said on Sunday that the value of damaged banknotes, including burnt [...]
SEOUL, Oct. 19 (Korea Bizwire) — With the South Korean stock market experiencing a heavy correction due to the U.S-China trade war and financial instability among emerging states, Inverse Exchange Traded Funds (ETF) are yielding high profits. FnGuide financial information services announced that 45 Inverse ETFs with over 1 billion won in assets yielded average [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s financial industry may have reached the point of excess where its growth will only undermine further economic development. According to the Korea Institute of Finance, credit lines at South Korean financial institutions tend to concentrate on unproductive household loans and small businesses that combine to hamper financial [...]
SEOUL, Oct. 15 (Korea Bizwire) — The value of stocks that the Korea Electric Power Corporation (KEPCO) accepted from other firms in lieu of payment for electric bills were found to have fallen sharply, incurring losses totaling 11.6 billion won. According to data submitted by KEPCO to lawmaker Eoh Kiy-ku of the Democratic Party, who [...]
SEOUL, Oct. 12 (Korea Bizwire) — South Korea’s biggest cryptocurrency exchange, Bithumb, has been sold to Singapore-based BK Global Consortium, industry insiders said Friday. BK Global finalized its contract with the digital money exchange’s largest shareholder, BTC Korea Holdings, on Thursday to buy 50 percent plus 1 stake for 400 billion won (US$352.5 million), according [...]