SEOUL, June 11 (Korea Bizwire) — South Korea retail investors have traded more than US$1.7 billion worth of shares in AMC Entertainment Holdings Inc., one of the social media-driven meme stocks, this month, data showed Friday. Local individual investors’ transactions of shares in the top U.S. movie theater chain came to $1.76 billion in the [...]
SEOUL, June 9 (Korea Bizwire) — South Korea’s financial regulator on Wednesday granted the final approval for a new internet-only bank, a move that could further fuel competition with established bigger players. The Financial Services Commission (FSC) gave the approval to the consortium led by South Korean fintech firm Viva Republica, which operates the popular [...]
SEOUL, June 7 (Korea Bizwire) — In response to the challenge posed by tech giants making inroads in the banking industry, traditional financial services companies such as banks and credit card issuers are going on the counterattack. Credit card companies are preparing to launch an ‘open pay’ service that enables customers to register and use [...]
SEOUL, June 2 (Korea Bizwire) — Smaller cryptocurrency exchanges are scrambling to kick out so-called altcoins as a new amendment bill for reporting and using specified financial transaction information is soon to take effect. By September, all cryptocurrency exchanges must offer Information Security Management System (ISMS) authorization and bank account connections to stay in business. [...]
SEOUL, June 2 (Korea Bizwire) — South Korean investors’ purchase of shares in electric vehicle leader Tesla Inc. hit a one-year low in May amid a drop in its price, data showed Wednesday. Domestic investors bought a net US$80.8 million worth of Tesla shares in May, the lowest amount in one year, according to the [...]
SEOUL, May 26 (Korea Bizwire) — South Korea’s credit card companies are cutting overseas automated teller machine (ATM) withdrawal limits as part of their risk management efforts. The nation’s largest credit card company, Shinhan Card Co., announced on Tuesday that it will reduce per-client overseas ATM withdrawal limits to US$50,000 per month starting from next [...]
SEOUL, May 19 (Korea Bizwire) — The number of retail investors who own less than a 1 percent stake in Samsung Electronics Co. is estimated at about 4 million. According to a quarterly report submitted by the South Korea’s electronics giant on Monday, the company had roughly 3.9 million individual shareholders as of March 31. [...]
SEOUL, May 18 (Korea Bizwire) — South Korean retail investors buying foreign stocks have turned to net sellers of shares in electric vehicle leader Tesla Motors Inc. for the first time in the past 18 months. While Tesla’s share price has fallen this month, its CEO Elon Musk’s recent behavior has also risen as a [...]
SEOUL, May 12 (Korea Bizwire) – In the near future, it will become possible to settle the payments of a variety of credit cards through a single app as part of a new simple settlement system. South Korea’s six card issuers, together with BC Card Co. and NH Nonghyup Card Co., recently held a consultative [...]
SEOUL, May 11 (Korea Bizwire) — Battery materials maker SK IE Technology Co. (SKIET) made a disappointing market debut on the main bourse Tuesday despite the huge market interest shown in its subscription last week. The subsidiary of refinery and battery firm SK Innovation Co. closed at 154,500 won (US$138), down 26.43 percent from its [...]