SEOUL, Oct. 21 (Korea Bizwire) — Samsung Asset Management said Monday it will launch a new exchange-traded fund (ETF) that invests in companies participating in South Korea’s national “Sovereign AI” project, underscoring growing investor confidence in the country’s bid to develop its own artificial intelligence infrastructure. The KODEX Korea Sovereign AI ETF, set to debut on [...]
SEOUL, Oct. 20 (Korea Bizwire) — Gold prices are soaring to record levels, propelling gold-related exchange-traded funds (ETFs) in South Korea to an average monthly return of more than 20 percent — even as the domestic stock market hits new highs. The unusual parallel rise of risky assets such as equities and traditional safe havens like [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s battery sector has roared back to life this month, rebounding sharply from months of stagnation tied to electric vehicle (EV) demand concerns. The rally has sent related exchange-traded funds (ETFs) soaring, though analysts caution that the upswing may be short-lived. According to data from the Korea Exchange as [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s main stock index soared to a record high on Thursday, buoyed by optimism over a potential trade breakthrough with the United States and strong foreign buying. The benchmark KOSPI rose 2.49 percent to close at 3,748.37, breaking both its intraday and closing records and surpassing the 3,700 mark [...]
SEOUL, Oct. 16 (Korea Bizwire) — Household lending in South Korea grew at its slowest pace in six months in September, new data showed Thursday, as tougher regulations and seasonal factors cooled borrowing amid renewed efforts to rein in housing prices and rising household debt. According to the Bank of Korea, household loans extended by banks [...]
SEOUL, Oct. 16 (Korea Bizwire) – Binance, the world’s leading cryptocurrency exchange, has finalized its acquisition of a South Korean crypto exchange, authorities said Thursday, taking its first step to enter the local digital assets market. The Korea Financial Intelligence Unit (FIU), under the Financial Services Commission (FSC), has approved Binance’s acquisition of GOPAX on [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s financial regulator has launched an on-site inspection into securities firms and banks accused of mis-selling a 90 billion won ($65 million) investment product that collapsed entirely, marking the first major consumer protection probe under the leadership of newly appointed Financial Supervisory Service (FSS) Governor Lee Chan-jin. The FSS [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korean police say recent criminal investigations have exposed a growing use of virtual assets to launder the proceeds of large-scale frauds, reigniting debate over the need for stronger oversight as authorities and industry consider expanding the use of digital currencies, including won-pegged stablecoins. The Ulsan Police Agency disclosed [...]
SEOUL, Oct. 15 (Korea Bizwire) — Global asset manager Franklin Templeton has identified South Korea as one of the key drivers of the global emerging market rally this year, highlighting its diversified industrial base and robust stock market performance. In a report released Tuesday, the firm noted that emerging market equities have surged more than 28 [...]
SEOUL, Oct. 15 (Korea Bizwire) — Samsung Asset Management said Tuesday that its KODEX Robot Active exchange-traded fund (ETF) has surpassed 200 billion won ($145 million) in net assets, underscoring surging investor enthusiasm for the nation’s robotics sector amid rapid advances in artificial intelligence. As of October 14, the fund’s net asset value stood at [...]