SEOUL, Jun. 20 (Korea Bizwire) — South Korean banks will fully open their payment system to fintech firms in December, officials said Thursday, in a move that could encourage the development of new payment services and greater competition in the financial sector. Currently, the financial payment network in South Korea has a closed system accessible [...]
SEOUL, Jun. 20 (Korea Bizwire) — South Korean energy and telecom conglomerate SK Group is likely to be the top debt seller in the first half of the year, industry data showed Thursday, as it attempted to refinance maturing debts and invest in promising businesses. According to the data compiled by Infomax, the financial news [...]
SEOUL, Jun. 20 (Korea Bizwire) — A recent survey has revealed that the number of overseas stock investors in their 20s has been surging. Shinhan Investment Corp. said Wednesday that its survey of 30,000 customers investing in overseas stocks showed there were 17,340 investors in their 20s as of the end of May, accounting for [...]
SEOUL, Jun. 20 (Korea Bizwire) — The number of cryptocurrency exchanges in South Korea has risen amid a lack of regulations to prevent investors from trading virtual coins with opaque accounts, industry data showed Thursday. In May, the number of cryptocurrency exchanges stood at 205 in South Korea, although the frenzied buying seen in January [...]
SEOUL, Jun. 19 (Korea Bizwire) — South Korea’s major commercial banks have begun cutting unnecessary work hours ahead of the full implementation of the government’s new 52-hour workweek policy in July. The banking sector introduced the 52-hour workweek system earlier this year, but since the actual legal enforcement date is from the first day of [...]
SEOUL, Jun. 18 (Korea Bizwire) — The Cabinet approved an ordinance Tuesday to introduce an electronic securities system in September, under which listed stocks and bonds do not exist in paper form, officials said. Under the new system, issuance, registration and circulation of securities will be performed on an electronic basis without physical certificates starting [...]
SEOUL, Jun. 17 (Korea Bizwire) — Uncertainties stemming from the escalating U.S.-China trade dispute and a slowdown in Asia’s fourth-largest economy are changing the way investors here behave, with many apparently rushing to buy what they believe to be safer assets, such as bonds, gold and houses, data showed Monday. Bond prices have skyrocketed to [...]
SEOUL, Jun. 13 (Korea Bizwire) — Private investors in the real estate market are turning to Real Estate Investment Trusts (REITs) as the market is suffering from an overall slump following government restrictions. SG Lab, a research arm of the South Korean real estate marketing firm MB& Holdings Co., reported that the number of REITs [...]
SEOUL, Jun. 10 (Korea Bizwire) — Short-selling of stocks on the South Korean bourses jumped to a seven-month high in May as local shares remained bearish amid escalating trade tension between the U.S. and China, data showed Monday. Daily stock short-selling averaged 537.5 billion won (US$454.8 million) in the main KOSPI and secondary KOSDAQ markets [...]
SEOUL, Jun. 7 (Korea Bizwire) — After a brief hiatus, local activist hedge fund Korea Corporate Governance Improvement (KCGI) is again ramping up its pressure on Hanjin KAL Corp., the holding company of logistics-centered Hanjin Group which has been increasingly under pressure to improve its corporate governance and even change its management, industry sources said [...]