SEOUL, Jan. 22 (Korea Bizwire) — The government plans to require cryptocurrency exchanges to share users’ transaction data with banks, in a potential move to impose taxes on the transactions, an official at financial authorities said Sunday. Currently, financial authorities ban banks from offering virtual accounts, which are needed to sell or buy cryptocurrencies, to [...]
SEOUL, Jan. 16 (Korea Bizwire) — Foreigners have net bought more than 2.2 trillion won (US$2 billion) worth of South Korean stocks this year in continuation of their buying spree from 2017, the Korea Exchange (KRX) said Tuesday, amid strong performance by local firms. Offshore investors acquired listed shares valued at 10.2 trillion won last [...]
SEOUL, Jan. 11 (Korea Bizwire) — The government will give tax breaks to individuals that invest in mutual funds for startups and soften some listing rules for the junior KOSDAQ stock market, officials said Thursday. The move is part of a new policy move to boost the KOSDAQ market and help smaller firms raise funds [...]
SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s financial regulators have inspected banks that have opened virtual accounts for corporate customers amid concerns that such accounts could be exploited as a loophole to attract new investors for cryptocurrencies, an official said Wednesday. Regulators have banned banks from offering virtual accounts, which are needed to sell [...]
SEOUL, Jan. 9 (Korea Bizwire) – Bitcoin prices on South Korean exchanges have risen today despite hints at government regulation, and a drop in the value of the cryptocurrency in other markets. According to cryptocurrency exchange Bithumb, the price per bitcoin reached 24.7 million won as of 2:30 p.m. today, up 1.4 percent after financial [...]
SEOUL, Jan. 8 (Korea Bizwire) — The head of a biotech venture firm has emerged as the fourth-richest man in stock holdings in South Korea, industry data showed Sunday, amid a bio venture boom in Asia’s fourth-biggest economy. The value of stocks held by Seo Jung-jin, chairman of biopharmaceutical firm Celltrion Inc., rose to 5.39 [...]
SEOUL, Jan. 5 (Korea Bizwire) – South Korean investors have pulled about 40 trillion won (US$37.7 billion) out of money market funds (MMFs) over the past seven months as they sought higher returns in stock and property markets, data showed Friday. Outstanding MMFs totaled 99.3 trillion won as of Tuesday, compared with 138.8 trillion won [...]
SEOUL, Jan. 4 (Korea Bizwire) — Nearly 40 percent of last year’s stock trading in the secondary KOSDAQ market was done on smartphones, gradually phasing out transactions through computers and telephones, data showed Thursday. A daily average turnover of 291.48 million shares, or 39.6 percent of the total, on the tech-laden KOSDAQ was generated over [...]
SEOUL, Jan. 3 (Korea Bizwire) — The United Arab Emirates (UAE) purchased a net 967 billion won (US$908.6 million) worth of South Korean stocks last November, raising its holdings of local equity by 7.8 percent from a month earlier, data showed Wednesday. The UAE, which held 9.4 trillion won worth of South Korean stocks at [...]
SEOUL, Jan. 2 (Korea Bizwire) — People who invested in stocks last year received the highest returns compared with those who betted on real estate, funds, gold and other assets, financial data showed Tuesday. The benchmark KOSPI ended 2017 up 21.76 percent from a year ago. The increase is 15.5 times the 1.4 percent annual [...]