SEOUL, Oct. 26 (Korea Bizwire) — The Korea Exchange (KRX) on Tuesday issued an advance notice of a revision to its operational rules with respect to the establishment of a comprehensive management system to ensure efficient oversight of algorithm trading. Under the revision that is expected to take effect in January, any investors who want [...]
SEOUL, Oct. 24 (Korea Bizwire) — South Korea’s emergency bond-buying measures are expected to ease anxiety “in the short term” over a credit crunch in the corporate debt market that has been roiled by a recent default on municipal government-guaranteed borrowing raised to construct a local theme park, analysts said Monday. They, however, expressed skepticism [...]
SEOUL, Oct. 23 (Korea Bizwire) — South Korea’s financial authorities announced plans Sunday to expand liquidity supply programs to at least 50 trillion won (US$34.7 billion) as part of efforts to calm corporate bond market jitters. Finance Minister Choo Kyung-ho made the announcement right after an emergency meeting with the central bank chief and top [...]
SEOUL, Oct. 21 (Korea Bizwire) — Finance Minister Choo Kyung-ho said Friday that the government is taking “necessary measures” regarding a default in project financing for the construction of the Legoland amusement part in Gangwon Province. Iwon Jeil Cha, a special purpose company established by the Gangwon Jungdo Development Corp. (GJC) to fund the construction [...]
SEOUL, Oct. 21 (Korea Bizwire) — South Koreans are flocking to savings banks after they raised interest rates for deposits and installment savings. Since Wednesday, the Korea Federation of Savings Banks (KSFB) website and a number of savings bank apps, including OK Savings Bank Co. that uses the KSFB servers, have been shut down due [...]
SEOUL, Oct. 20 (Korea Bizwire) — South Korea’s bourse operator said Thursday it signed a memorandum of understanding (MOU) with internet portal giant Naver Corp. to invigorate the English public disclosures by listed firms here. The Korea Exchange (KRX) said artificial intelligence technology and Naver’s translation service “Papago,” will be utilized in providing English disclosure [...]
SEOUL, Oct. 20 (Korea Bizwire) — The amount of tax collected from stock transactions halved on-year in August, data showed Thursday, as the bearish market weighed down retail investors’ appetite for local shares. The combined amount of stock transaction tax collected in August came to 528.5 billion won (US$368 million), down from 1.01 trillion won [...]
SEOUL, Oct. 19 (Korea Bizwire) — South Korea’s exchange traded fund (ETF) market has a high growth potential, the chief of a U.S. ETF-specializing asset manager said Wednesday Christian Magoon, the CEO of the Chicago-based Amplify ETFs, noted the recent pandemic-incurred correction in the global financial market is helping investors better see the strength of [...]
SEOUL, Oct. 17 (Korea Bizwire) – Shares in Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, and its affiliates fell sharply Monday after a massive service disruption over the weekend stemming from a fire at a data center. Kakao dropped 5.93 percent to close at 48,350 won (US$33) on the KOSPI, the [...]
SEOUL, Oct. 13 (Korea Bizwire) — Foreign investors turned net sellers of South Korean stocks in September on concerns over aggressive monetary tightening in major economies, central bank data showed Thursday. Foreigners’ stock investment funds logged a net outflow of US$1.65 billion in September, compared with a $3.02 billion net inflow the previous month, according [...]