SEOUL, Sept. 10 (Korea Bizwire) — Lee Kun-hee, chief of South Korea’s top conglomerate, Samsung Group, saw his stock value increase the most over the past five years compared to other business tycoons, a report showed Tuesday. Lee, bedridden, held stocks worth 14.8 trillion won (US$12.4 billion) as of Friday, according to the report compiled [...]
SEOUL, Sept. 10 (Korea Bizwire) — The number and value of daily banking transactions via the internet climbed to new highs last year, with internet banking accounting for more than half of all bank transactions for the first time in history, central bank data showed Tuesday. The average number of daily transactions processed via the [...]
SEOUL, Sept. 5 (Korea Bizwire) — Recently, commercial banks have been offering a series of “travel-themed” installment savings products. Subscribing to related products has become popular as account holders can receive airline mileage or travel-related benefits along with basic interest at maturity. On Wednesday, KEB Hana Bank unveiled its one-year installment savings product “My Trip,” [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will soften corporate disclosure rules to make shareholder activism more active. Under the 1991 rule, if an investor who owns 5 percent or more of shares of a listed firm buys or sells more than 1 percent of stocks in the company, [...]
SEOUL, Sept. 4 (Korea Bizwire) — South Korea’s financial regulator said Wednesday it will ease some rules on financial firms investing in fintech firms, as part of its effort to promote the fintech industry. The new guideline, unveiled by the Financial Services Commission (FSC), will expand the scope of fintech firms for which financial firms’ [...]
SEOUL, Sept. 1 (Korea Bizwire) — Bio shares on the Korean stock market tumbled this year as investor confidence was hurt by a series of scandals involving major drugmakers, data showed Saturday. The combined market capitalization of 43 pharmaceutical and bio companies listed on the main bourse, the KOSPI, stood at 81.3 trillion won (US$67.2 [...]
SEOUL, Aug. 26 (Korea Bizwire) — The Korea Exchange, South Korea’s bourse operator, said Monday it has tentatively decided to delist Kolon TissueGene Inc., an affiliate of Kolon Life Science, from the local stock market as it submitted a false document when it was listed two years ago. But the company is allowed to seek [...]
SEOUL, Aug. 26 (Korea Bizwire) – In a symbolic move to show the government’s determination to help foster South Korea’s parts and materials production industry against Japan’s export restrictions, President Moon Jae-in on Monday invested 50 million won (US$41,135) in a relevant stock fund. He visited the headquarters of NH Nonghyup Bank in Seoul and subscribed [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s financial regulator said Thursday it will begin inspecting financial firms later this week over sales of controversial derivative products that carry the risk of losing nearly all investment. Choi Jong-ku, chairman of the Financial Services Commission (FSC), told lawmakers that financial authorities will start an inspection into [...]
SEOUL, Aug. 19 (Korea Bizwire) — Cases of suspicious financial transactions in South Korea jumped last year, a report showed Monday, in line with the government’s regulations of cryptocurrency trading. A total of 972,320 suspected cases of money laundering or fraud were filed with financial authorities in 2018, up 86.5 percent from a year ago, [...]