SEOUL, May 16 (Korea Bizwire) — South Korean online lender K-Bank said Monday its earnings shot up in the first quarter of the year on the back of a jump in interest income. Net profit stood at 24.5 billion won (US$19.1 million) in the January-March period, higher than its net income of 22.5 billion won [...]
SEOUL, May 16 (Korea Bizwire) — South Korea’s main stock market saw its trading volume shrink more than 16 percent this month from a year earlier, data showed Monday, as investors remained on the sidelines amid inflation worries and other negatives. The daily trading volume of the country’s main bourse averaged 940 million shares during [...]
SEOUL, May 12 (Korea Bizwire) — South Korea’s bourse operator is weighing the option of launching a futures market for carbon emissions, officials said Thursday. The Korea Exchange (KRX) and the country’s environment ministry opened a bidding for the feasibility study of a carbon emission futures market early this month, according to the KRX officials [...]
SEOUL, May 12 (Korea Bizwire) — Hanwha Asset Management Co. said Wednesday it had listed the ARIRANG US Alternative Investment Top 10 MV exchange traded fund (ETF) on the South Korean bourse. The newly-released EFT invests in the top ten U.S. listed companies with more than 75 percent of their sales or managed assets coming [...]
SEOUL, May 9 (Korea Bizwire) — South Korean brokerage house Hana Financial Investment Co. said Monday that it is seeking to take over affiliate Hana Bank’s subsidiary in Hong Kong as part of efforts to tap into the Asian financial hub. Hana Financial Investment is considering a plan to purchase a 100 percent stake in [...]
SEOUL, May 8 (Korea Bizwire) — Turnover of South Korea’s main stock market plunged to similar levels seen during the onset of the COVID-19 pandemic as investors fret over the U.S. monetary tightening, data showed Sunday. The average daily turnover of the KOSPI market stood at 10.7 trillion won (US$8.4 billion) in the April 6-May [...]
SEOUL, May 7 (Korea Bizwire) — South Korea’s central bank is likely to deliver a back-to-back key interest rate rise in May as part of its efforts to rein in inflation, a major local brokerage house said Friday. The Bank of Korea (BOK) raised its policy rate by a quarter percentage point to 1.5 percent [...]
SEOUL, May 6 (Korea Bizwire) — Police on Friday referred an employee of Woori Bank, one of South Korea’s largest commercial banks, and his brother to the prosecution on charges of embezzling more than 60 billion won (US$47 million), officials said. The employee is suspected of having embezzled a total of 61.4 billion won through [...]
SEOUL, May 5 (Korea Bizwire) — In the midst of a decline in the average age of stock investors, the number of Samsung Electronics Co. shareholders who are under 20 years old is rising at a rapid pace, data showed Wednesday. The number of small shareholders in global tech giant in this age group totaled [...]
SEOUL, May 4 (Korea Bizwire) — HDC Hyundai Development Co. said Wednesday it will demolish an apartment complex in South Korea’s southwestern area to build it all over again to ally safety concerns. HDC Chairman Chung Mong-gyu said the real estate developer will completely take down eight apartment buildings in Gwangju for reconstruction at the [...]