SEOUL, Jan. 10 (Korea Bizwire) – South Korea’s financial authorities on Tuesday announced a plan to launch a full-scale pilot project this year on blockchain-powered financial services. South Korea, known for its ICT prowess, has accelerated its drive for capitalizing on the new platform. Blockchain is a key technology for the digital currency bitcoin enabling [...]
SEOUL, Jan. 6 (Korea Bizwire) – Korea’s anti-corruption law, which took effect on September 28 of last year, did not have as great an impact on the local stock market as initially expected, according to financial watchdogs. Instead, the stock market was more sensitive to China’s retaliatory measures against Korea’s decision to deploy a THAAD [...]
SEOUL, Jan. 2 (Korea Bizwire) – Private investors were the big losers in last year’s stock market, a contrast to institutional and foreign investors that ended the year on the plus side, financial industry data showed Monday. The top 20 most-purchased stocks by private investors in the main bourse KOSPI ended 33.07 percent down by [...]
SEOUL, Dec. 29 (Korea Bizwire) – Mobile stock trading in South Korea has soared more than 30 percent in 2016 from a year ago, helped mainly by brokerages’ stepped-up marketing for smartphone users, data showed Thursday. According to the data by the Korea Exchange, a daily average of 250.5 million shares were traded via the [...]
SEOUL, Dec. 22 (Korea Bizwire) – South Korea made a pitch Thursday for its financial technology, or fintech, in China under the government’s campaign to support related startups here seeking to do business abroad. The state-funded Fintech Center held the “Fintech Demo Day in Beijing” event, joined by five South Korean firms and potential business [...]
SEOUL, Dec. 16 (Korea Bizwire) – It has been almost two weeks since China’s ambitious Shenzhen-Hong Kong Stock Connect was launched, but the trading link has so far failed to drum up much excitement, at least from the point of view of Korean investors. According to the Korea Financial Investment Association, the aggregate trade volume [...]
SEOUL, Dec. 14 (Korea Bizwire) – Korea Exchange (KRX) trading board KOSDAQ announced Wednesday that it would start allowing businesses operating in the red to go public if they show positive growth potential – introducing a so-called the “Tesla condition” taken from Tesla Motors, which lacked capital initially but was recognized for its prospects, and [...]
SEOUL, Dec. 13 (Korea Bizwire) – Despite an overall market slump, investors are scrambling to bet on stocks related to presidential hopefuls as an early election is deemed inevitable following the impeachment of President Park Geun-hye, data showed Tuesday. South Korean lawmakers voted overwhelmingly to impeach Park on Friday over a massive corruption and influence-peddling [...]
SEOUL, Dec. 12 (Korea Bizwire) – Bitcoin – once hailed as the world’s digital currency of the future – is gradually waning in popularity. According to the Financial Supervisory Service, the amount of bitcoin in circulation at three of Korea’s largest bitcoin exchanges was 1.49 million from January to October this year, a number that [...]
SEOUL, Dec. 8 (Korea Bizwire) – South Korea has decided to reset its push to become a regional financial hub, reflecting a change in related global circumstances, authorities announced Thursday. Despite the government’s initiative that started in 2008, foreign financial firms have withdrawn or scaled down their businesses in Asia’s fourth-biggest economy. In a relevant [...]