SEOUL, Jun. 27 (Korea Bizwire) — Online comics company Webtoon Entertainment Inc., owned by South Korea’s top internet platform, Naver, has set a price of US$21 per share, the top of its pricing range, for its plan to list itself on the U.S. stock market, as it seeks to become a “Disney in Asia.” In [...]
SEOUL, Jun. 25 (Korea Bizwire) — Internet-only lender Kakao Bank launched a new dollar deposit service Tuesday that can be linked with the online payment platform Travel Wallet to enable fee-free overseas cash withdrawals. The new program, called “Dollar Box,” allows any Kakao Bank customer aged 19 years old or older to open one account [...]
SEOUL, June 21 (Korea Bizwire) – Foreign currency deposits declined for the fifth straight month in May as companies withdrew part of U.S. dollar-denominated deposits amid the weakening won and to settle imports, central bank data showed Friday. Residents’ outstanding foreign currency-denominated deposits reached US$88.96 billion at end-May, down $2.39 billion from the previous month, [...]
SEOUL, Jun. 19 (Korea Bizwire) — The chief of the financial regulator on Wednesday stressed the need to change the very mindset of bank officials to prevent financial incidents such as incomplete sales. Lee Bok-hyun, head of the Financial Supervisory Service (FSS), made the remark in a meeting with the heads of 20 banks in [...]
SEJONG, Jun. 16 (Korea Bizwire) – The finance ministry announced plans to sell $1.3 billion in foreign exchange stabilization bonds, aiming to attract high-quality SSA (Sovereigns, Supranationals & Agencies) investors. The targeted investor pool includes governments, central banks, international organizations, and policy finance institutions. Foreign exchange stabilization bonds are designed to allow governments to intervene [...]
SEOUL, June 16 (Korea Bizwire) – Household loans extended by five major lenders in South Korea have risen more than 2.1 trillion won (US$1.5 billion) so far this month, industry data showed Sunday. Outstanding household loans extended by the five top lenders reached 705.4 trillion won as of June 13, compared with 703.2 trillion won [...]
SEOUL, Jun. 5 (Korea Bizwire) — South Korea’s foreign reserves declined in May due to a fall in deposits and the central bank’s foreign currency swap with the country’s national pension fund, central bank data showed Wednesday. The country’s foreign reserves had come to US$412.83 billion as of end-May, down $3.51 billion from the previous [...]
SEOUL, May 29 (Korea Bizwire) – While Samsung Electronics, once riding high on expectations of reaching 1 million won per share, has again faltered in the 800,000 won range, analysts on Wall Street remain optimistic about the tech giant’s stock prospects. Foreign investors have been offloading over 7 trillion won worth of Samsung shares they had [...]
SEOUL, May 21 (Korea Bizwire) — The Korea Financial Investment Association (KOFIA) announced Tuesday it will host an international seminar next week to seek ways to develop the country’s financial market amid government-led efforts to enhance the value of local businesses. The capital market value-up seminar will be held next Tuesday in Seoul, with some [...]
SEOUL, May 21 (Korea Bizwire) — Corporate direct financing in South Korea surged more than 20 percent from a month earlier in April on a sharp increase in bond issuance, data showed Tuesday. Local companies raised a combined 24.6 trillion won (US$18.1 billion) by selling stocks and bonds last month, up 20.1 percent from the [...]