SEOUL, Nov. 19 (Korea Bizwire) — LG AI Research is accelerating its entry into major global equity markets with a new artificial intelligence–driven forecasting model developed in partnership with the London Stock Exchange Group (LSEG), aiming to capture rising demand for automated investing tools. The model, called the AI Equity Forecasting Score (AEFS), analyzes roughly 5,000 [...]
SEOUL, Nov. 6 (Korea Bizwire) — South Korea’s top financial regulator has approved a new service that lets travelers invest leftover foreign currency from prepaid cards into overseas stocks, marking the latest step in its push to foster financial innovation. The Financial Services Commission (FSC) said Wednesday that it designated NH Investment & Securities and fintech [...]
SEOUL, Oct. 31(Korea Bizwire) — South Korea is set to launch its first interbank-style foreign exchange brokerage platform for institutional clients, allowing companies, pension funds, and asset managers to compare multiple bank quotes in real time and trade at the most favorable rates. FXONE, the nation’s first customer-facing foreign exchange brokerage firm, held its inaugural general [...]
SEOUL, Oct. 30 (Korea Bizwire) — A fierce contest has erupted among major financial institutions and fintech startups in South Korea as they vie for preliminary approval to operate the country’s first licensed trading platforms for fractional investments. According to industry sources, three consortiums have submitted applications ahead of the October 31 deadline, with the [...]
SEOUL, Oct. 27 (Korea Bizwire) – South Korea’s central bank is signaling that any won-pegged stablecoins introduced into the domestic market should be issued through regulated banks, warning that private issuers could threaten financial stability and weaken monetary control. Stablecoins could “unlock new possibilities” for the economy, the Bank of Korea said in a report [...]
SEOUL, Oct. 22 (Korea Bizwire) — Shinhan Bank is introducing a new interactive savings product that merges gaming and personal finance, targeting younger customers who seek both fun and engagement in their banking experience. The bank said Monday that it has begun pre-registration for its “Arcade Savings” account through the Shinhan SOL Bank app, open until [...]
SEOUL, Oct. 16 (Korea Bizwire) – Binance, the world’s leading cryptocurrency exchange, has finalized its acquisition of a South Korean crypto exchange, authorities said Thursday, taking its first step to enter the local digital assets market. The Korea Financial Intelligence Unit (FIU), under the Financial Services Commission (FSC), has approved Binance’s acquisition of GOPAX on [...]
SEOUL, Oct. 16 (Korea Bizwire) — South Korean police say recent criminal investigations have exposed a growing use of virtual assets to launder the proceeds of large-scale frauds, reigniting debate over the need for stronger oversight as authorities and industry consider expanding the use of digital currencies, including won-pegged stablecoins. The Ulsan Police Agency disclosed [...]
DUBAI, Oct. 14 (Korea Bizwire) – Dubai, a major financial hub in the Middle East, is eyeing deeper cooperation with South Korea as the city develops its fintech industry amid the boom of artificial intelligence (AI) technology, an official from the city’s digital economy agency has said. Saeed Al Gergawi, vice president of the Dubai [...]
SEOUL, Oct. 7 (Korea Bizwire) — The value of U.S. dollar–pegged stablecoins held by South Korea’s major cryptocurrency exchanges has more than doubled over the past year, underscoring the rapid expansion of digital asset trading — and prompting renewed concerns over unmonitored capital flows. According to data submitted by the Financial Supervisory Service to Rep. [...]