SEOUL, March. 11 (Korea Bizwire) — Foreigners withdrew more money from the stock market in South Korea than their investments last month as a risk-averse attitude grew amid heightened geopolitical risks from Russia’s invasion of Ukraine, central bank data showed Friday. Foreigners unloaded a net US$1.86 billion worth of local stocks in February, marking the [...]
SEOUL, March. 11 (Korea Bizwire) — Sentiment is growing that the insurance industry needs to pay more attention to electric vehicle (EV) insurance products as a new channel for growth after main opposition candidate Yoon Suk-yeol was elected South Korea’s next president on Thursday. Yoon pledged that he will freeze EV charging fees over the [...]
SEOUL, March 5 (Korea Bizwire) — South Korean stock markets are expected to continue to face volatile sessions next week, largely on persistent uncertainties in Ukraine and the U.S. Federal Reserve’s stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,744.52 points Friday, up 0.14 percent [...]
SEOUL, March 3 (Korea Bizwire) — Major cryptocurrency exchanges in South Korea have blocked IP addresses from Russia in an effort to join global sanctions against Moscow over its invasion of Ukraine. Upbit, the country’s largest cryptocurrency exchange by transaction, announced Thursday withdrawal requests from Russian IP addresses could be rejected. “We’ve blocked subscriptions by [...]
SEOUL, March 2 (Korea Bizwire) — South Koreans’ use of internet banking services soared 18 percent on-year in 2021 as customers preferred non-contact services amid the coronavirus pandemic, central bank data showed Monday. The daily use of online banking services, including mobile banking, reached 17.32 million cases last year, up from 14.68 million a year [...]
SEOUL, March 2 (Korea Bizwire) — South Korean institutions’ investment in foreign securities touched a new all-time high in 2021 amid bullish overseas stock markets, central bank data showed Wednesday. The outstanding value of foreign securities held by local institutional investors stood at US$402.72 billion as of end-December last year, up $29.97 billion, or 8 [...]
SEOUL, March 1 (Korea Bizwire) — South Korea said Tuesday it plans to suspend financial transactions with seven major Russian banks and their affiliates in a bid to join global efforts to impose financial sanctions against Moscow over its attack on Ukraine. The government said it will also “strongly” recommend local public and financial institutions [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korean stocks are expected to face highly volatile sessions next week as investors will pay keen attention to situations in Ukraine and the U.S. Federal Reserve’s updated stance on its monetary policy, analysts said Saturday. The benchmark Korea Composite Stock Price Index (KOSPI) closed at 2,676.76 on Friday, [...]
SEOUL, Feb. 24 (Korea Bizwire) — POSCO Engineering & Construction Co., the construction arm of South Korea’s leading steelmaker POSCO, said Wednesday it had developed an apartment ventilation system designed to enable management of air quality for each of an apartment’s rooms and featuring a negative pressure function. Existing apartment ventilation systems remove fine dust [...]
SEOUL, Feb. 23 (Korea Bizwire) — South Korea’s overseas financial assets reached an all-time high last year on the back of increased stock investments and investment returns, central bank data showed Wednesday. The country’s external financial assets came to $2.16 trillion as of end-December, up $198.2 billion from a year earlier, according to preliminary data [...]