SEOUL, Oct. 6 (Korea Bizwire) – Shares in securities firms, which have already doubled this year, are widely expected to further advance down the road on the back of increased turnover and market-friendly steps, industry watchers said Monday. According to the Korea Exchange (KRX), the index tracking listed securities firms’ stock movement has nearly doubled [...]
SEOUL, Oct. 1 (Korea Bizwire) – South Korea and the United States have reaffirmed a fundamental principle to avoid manipulating exchange rates and to monitor the “stability” of the foreign exchange (FX) market, Seoul’s finance ministry said Wednesday. The two countries have agreed to “avoid manipulating exchange rates or the international monetary system to prevent [...]
SEOUL, Sept. 30 (Korea Bizwire) — Naver Corp.’s sudden move to acquire Dunamu, operator of the global cryptocurrency exchange Upbit, has sent shock waves through South Korea’s technology sector, raising questions about the search giant’s long-term strategy and corporate governance. The deal, announced six months after founder Lee Hae-jin’s return as chairman of Naver’s board, is [...]
SEOUL, Sept. 25 (Korea Bizwire) — Delinquency rates at South Korea’s major credit card companies hit an 11-year high in the first quarter amid an economic slowdown, the central bank said Thursday. The delinquency rate on loan assets at the major card firms came to 2.3 percent as of end-March, the highest since 2014, according [...]
SEOUL, Sept. 25 (Korea Bizwire) — The likelihood of South Korea facing a debt problem as seen in some European economies remains “limited,” a local analyst said Thursday, dismissing concerns that President Lee Jae Myung’s expansionary fiscal policy may strain the local economy. Ahn Jae-kyun, an analyst at Korea Investment & Securities Co., made the [...]
SEOUL, Sept. 25 (Korea Bizwire) — A top South Korean presidential aide said Wednesday that a potential currency swap with the United States is an essential safeguard in ongoing trade talks, but not sufficient on its own to resolve the thorny negotiations. Kim Yong-beom, presidential chief of staff for policy, told reporters in New York [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korea’s economy is expected to rebound in 2026, driven by easing uncertainties and accommodative policies, an official from the International Monetary Fund (IMF) said Wednesday, calling on the country to put in efforts to revitalize domestic consumption and accelerate structural reforms to further boost growth. “Prolonged domestic political [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean regulators said Tuesday they had broken up a sophisticated stock manipulation scheme involving some of the country’s wealthiest business operators and financial insiders, in what is being billed as the first major case under President Lee Jae-myung’s new crackdown on market abuses. The Financial Services Commission, the [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s semiconductor rally is spilling over into smaller suppliers, as investor optimism over improving memory prices boosts not only giants like Samsung Electronics and SK hynix but also makers of materials, components and equipment. On Monday, Samsung Electronics closed up 4.77 percent at 83,500 won, touching an intraday [...]
SEOUL, Sept. 18 (Korea Bizwire) — The U.S. Federal Reserve’s decision to lower its benchmark interest rate for the first time under President Donald Trump is fueling cautious optimism in Seoul’s financial markets, with analysts predicting improved liquidity and renewed foreign inflows — but also warning of lingering risks tied to trade negotiations. On Wednesday [...]