SEOUL, Oct. 28 (Korea Bizwire) — South Korea will continue to look into suspicious real estate transactions by foreigners as a recent investigation found increasing illegalities involving foreigners’ home purchases, the land ministry said Friday. The portion of suspicious home purchases by foreigners rose to 1.21 percent, or 6,772 cases, out of the country’s total [...]
SEOUL, Oct. 27 (Korea Bizwire) — Kakao Bank, the internet-only bank under mobile platform service provider Kakao Corp., on Thursday said it plans to enhance its banking services for the self-employed business, seeking to expand its customer base. The lender has posted fast growth with a focus on household banking since its launch of banking [...]
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 [...]
DAEJEON, Oct. 21 (Korea Bizwire) — South Korea’s state-run minting agency said Thursday that it signed a memorandum of understanding (MOU) with a handful of domestic companies to carry out a gold-based non-fungible token (NFT) business. To broaden the online sales channels of high-end gold products, the Korea Minting and Security Printing Corp. (KOMSCO) joined [...]
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) — Fresh and processed food sales are on the rise as more people are choosing to dine at home instead of going to a restaurant due to rising consumer prices. Major online shopping mall Gmarket, citing its sales data for the third quarter of this year, said Wednesday that fresh [...]