SEOUL, May 10 (Korea Bizwire) — South Korea’s minor bourse saw its turnover recently plunge below the 10 trillion-won (US$8.98 billion) mark following a partial resumption of short selling, data showed Monday. The daily turnover of the tech-heavy KOSDAQ market averaged about 8.8 trillion won over the last five sessions, far lower than the April [...]
SEOUL, May 4 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Tuesday it has decided to cancel 2.6 trillion won (US$2.32 billion) worth of treasury shares, over 10 percent of its total floated stocks, in a move to boost shareholder value amid plans to split into two companies later this year. [...]
SEOUL, May 3 (Korea Bizwire) – Lee Jae-young, vice chairman of global tech titan Samsung Electronics Co., has emerged as South Korea’s richest stockholder following inheriting stocks from his late father, a corporate tracker said Monday. Lee’s mother and his two sisters also ranked second to fourth, with Kim Beom-su, founder and chief of South [...]
SEOUL, May 2 (Korea Bizwire) — Retail investors’ stock ownership in Samsung Electronics Co., South Korea’s most valuable company, surpassed 10 percent for the first time as they went bargain hunting for its shares amid the COVID-19 pandemic last year, industry data showed Sunday. Individual investors owned a total of 65.3 million common shares of [...]
SEOUL, April 29 (Korea Bizwire) — SK IE Technology Co. (SKIET), a battery materials subsidiary of SK Innovation Co., drew a record-breaking subscription from retail investors for its initial public offering (IPO) on the Seoul bourse, the company’s IPO manager said Thursday. SKIET has received 80.9 trillion won (US$73.1 billion) of deposits from individual investors [...]
SEOUL, April 29 (Korea Bizwire) – South Korea’s financial regulator is set to partially lift its ban on short selling of listed stocks starting next week, about 14 months after it imposed it to cope with a stock market rout triggered by the COVID-19 pandemic. Although retail investors have urged financial authorities to prohibit the [...]
SEOUL, April 29 (Korea Bizwire) – South Korea’s central bank is set to launch a pilot program to test the viability of a central bank-issued digital currency (CBDC) in the second half of this year. In a report released on Wednesday, the Bank of Korea (BOK) unveiled plans to test the CBDC’s entire lifecycle of [...]
SEOUL, April 27 (Korea Bizwire) – One of South Korea’s top financial officials has recently drawn the ire of investors in cryptocurrency when he lectured them, saying they were walking “on the wrong path” and needed to correct themselves. Appearing in a meeting at the National Assembly on Thursday, Financial Services Commission (FSC) Chairman Eun [...]
SEOUL, April 26 (Korea Bizwire) — Kakao Pay, the mobile payment service arm of South Korea’s top messenger app Kakao Corp., filed for preliminary approval of an initial public offering on the main bourse KOSPI, the Korea Exchange said Monday. The filing by the fintech firm is expected to be cleared around the end of [...]
SEOUL, April 20 (Korea Bizwire) – Amid woes over a bubble in cryptocurrencies and their rollercoaster moves, authorities here are taking steps to curb people from making ‘irrational’ investments, and trading platforms may face restructuring as banks are expected to seek tighter screening measures for the opening of real-name bank accounts. Wary of missing out, [...]