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Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

Prosecutors Launch Probe into Samsung Securities’ Stock Blunder

SEOUL, May 24 (Korea Bizwire) — Prosecutors said Thursday they launched an investigation into officials of Samsung Securities Co. over the massive dividend error in April that jolted the local financial market. The Seoul Southern District Prosecutors’ Office said a probe has begun based on the complaint filed by the Financial Supervisory Service early this [...]

Companies Allowed to Tap Intangible Assets as Collateral

Companies Allowed to Tap Intangible Assets as Collateral

SEOUL, May 23 (Korea Bizwire) – Financial authorities on Wednesday unveiled a set of measures to allow companies to secure loans using their movable assets, including intellectual property and half-finished goods, as collateral. The measures are aimed at helping small and medium-sized enterprises (SMEs) and startups raise funds, the Financial Services Commission (FSC) said in [...]

Foreign Investors See Opportunity in Local Bourse

Foreign Investors See Opportunity in Local Bourse

SEOUL, May 22 (Korea Bizwire) — There are over 20,000 overseas funds – the likes of billionaire Paul Singer’s Elliott Management Corp – that have invested in the South Korean stock market, according to the Financial Supervisory Service (FSS). As of March, the number of foreign collective investment companies, or “funds”, registered with the government [...]

‘Silver’ Investors on the Rise

‘Silver’ Investors on the Rise

SEOUL, May 21 (Korea Bizwire) — As the South Korean population slowly ages, the number of elderly investors over 65 are also on the rise in the finance industry. According to a report released on Saturday by the Financial Supervisory Service, 23.6 percent (23.5 trillion won) of the total funds offered by financial institutions (99.9 [...]

Banks Ramp Up Prep for Possible Inter-Korean Cooperation

Banks Ramp Up Prep for Possible Inter-Korean Cooperation

SEOUL, May 21 (Korea Bizwire) — South Korean banks are redoubling efforts to tap into possible business opportunities in North Korea in the wake of a recent thaw in inter-Korean relations, sources said Monday. The two Koreas held a historic summit in late April, adopting a joint declaration that focuses on working toward a complete [...]

With Frenzy Waning, Cryptocurrency Operators Forced to Seek New Paths

With Frenzy Waning, Cryptocurrency Operators Forced to Seek New Paths

SEOUL, May 21 (Korea Bizwire) — As warnings of a bursting bubble and toughening state regulations have led to a drastic downturn of South Korea’s digital currency market, local exchanges are struggling over how to remain viable going forward. Some have moved to diversify their businesses by making the most out of blockchain technology, but [...]

Insurance Policy Covering Pre-existing Conditions a Hit Among the Elderly

Insurance Policy Covering Pre-existing Conditions a Hit Among the Elderly

SEOUL, May 9 (Korea Bizwire) — An insurance policy that covers individuals with current illness, regardless of its gravity, and former patients with previous treatment records has reached over 50,000 subscriptions within a month of its release. According to research results announced by the Financial Service Commission yesterday, seven insurance companies sold a total of [...]

Samsung BioLogics Expresses Concerns over FSS’s Leak of Sensitive Information

Samsung BioLogics Expresses Concerns over FSS’s Leak of Sensitive Information

SEOUL, May 8 (Korea Bizwire) — South Korea’s major biopharmaceutical firm Samsung BioLogics Co., which has been embroiled in an alleged violation of accounting rules, on Tuesday expressed concern over the financial watchdog’s disclosure of sensitive information. “We express deep concern and regret over the situation where sensitive information surrounding the case, which is under [...]