SEOUL, Oct. 30 (Korea Bizwire) — South Korea’s financial authorities are moving to tighten oversight of insurance agents in an effort to curb their involvement in fraud, introducing measures that would mandate pre-screening and expand public disclosures of disciplinary records. The Financial Services Commission said Wednesday it discussed the reforms during a meeting of the Insurance [...]
SEOUL, Oct. 29 (Korea Bizwire) – South Korean stocks set a fresh record high Wednesday on hopes for the Seoul-Washington summit and a potential supply deal with Nvidia. The local currency was trading higher against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 70.74 points, or 1.76 percent, to close at [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea has convened labor, business and government representatives to pursue the first major overhaul of the nation’s retirement pension system in more than two decades, aiming to strengthen income security for an aging workforce. The Ministry of Employment and Labor on Tuesday launched a tripartite task force dedicated to [...]
SEOUL, Oct. 29 (Korea Bizwire) — South Korea’s Mirae Asset Securities will resume U.S. daytime trading services next month, expanding access for retail investors amid continued enthusiasm for overseas equities, the company said Tuesday. Beginning Nov. 4, investors will be able to trade U.S. stocks between 10 a.m. and 5:15 p.m. Seoul time. Combined with existing [...]
SEOUL, Oct. 28 (Korea Bizwire) — Foreign investors have been the primary force behind South Korea’s stock market rally, with those from the United States and Ireland contributing the most to the benchmark index’s historic rise past the 4,000-point threshold, according to newly released regulatory data. From June through September, when the KOSPI’s rapid ascent [...]
SEOUL, Oct. 28 (Korea Bizwire) – South Korea’s issuance of equity-linked securities (ELS) in the third quarter rose sharply on-year amid the local stock market’s bullish run, industry data showed Tuesday. The total value of ELS products issued in the July-September period stood at 12.8 trillion won (US$8.9 billion), 35.9 percent higher compared with the [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s benchmark stock index surged past the 4,000 mark for the first time on Monday, a milestone that has energized investors and set off new warnings that the market may be overheating. The Kospi has soared nearly 18 percent in October alone, repeatedly setting record highs in recent weeks. [...]
SEOUL, Oct. 27 (Korea Bizwire) — South Korea’s main stock index has surged faster than any other in the Group of 20 nations this year, propelled by foreign investors betting heavily on the country’s dominant semiconductor industry and other major blue-chip companies. The benchmark Kospi index has climbed 68.5 percent since Jan. 2, adding 1,643 [...]
SEOUL, Oct. 27 (Korea Bizwire) – South Korea’s central bank is signaling that any won-pegged stablecoins introduced into the domestic market should be issued through regulated banks, warning that private issuers could threaten financial stability and weaken monetary control. Stablecoins could “unlock new possibilities” for the economy, the Bank of Korea said in a report [...]
SEOUL, Oct. 26 (Korea Bizwire) — Trading activity on South Korea’s main stock market has climbed to its highest level in more than four years, propelled by a powerful rebound in semiconductor shares and renewed retail and foreign investor interest. Average daily turnover on the Korea Composite Stock Price Index stood at 16.6 trillion won ($11.5 [...]