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Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

Samsung Securities Ordered to Partially Halt Operations for 6 Months Over ‘Fat-Finger’ Fiasco

SEOUL, Jul. 26 (Korea Bizwire) — The financial regulator on Thursday ordered Samsung Securities Co. to suspend part of its operations for six months as punishment for the brokerage’s “fat-finger” error that sparked a massive public uproar. Samsung Securities will be banned from offering its services to new investors for six months from Friday, the [...]

S. Korea Vows to Boost Global Ties for KOSDAQ Market Growth

S. Korea Vows to Boost Global Ties for KOSDAQ Market Growth

SEOUL, Jul. 2 (Korea Bizwire) — South Korea’s bourse operator said Monday it will strengthen cooperation with global entities to attract more foreign investment into the country’s secondary stock market so as to turn it into the world’s top trading venue for tech shares. The tech-laden KOSDAQ market marked the 22th anniversary of its establishment [...]

FSS Pays Record Cash Rewards for Reporting Violations

FSS Pays Record Cash Rewards for Reporting Violations

SEOUL, Jan. 13 (Korea Bizwire) – South Korea’s state financial watchdog said Friday it paid more than 120 million won (US$100,000) last year in cash rewards for helping punish violators of capital market rules.  A total of 120.7 million won was given to five informers of such irregularities as stock price manipulation, unfair trading and [...]

Corporate Debt Weighs on Korean Financial Market

Corporate Debt Weighs on Korean Financial Market

SEOUL, Jan. 11 (Korea Bizwire) – A recent analysis by the Hana Institute of Finance revealed that although Korea has a relatively stable financial market compared to 24 other emerging markets around the world, increasing corporate debt is becoming a serious risk.  In its financial risk assessment, the institute analyzed five categories, including corporate debt, [...]

S. Korea to Foster Blockchain Financial Services

S. Korea to Foster Blockchain Financial Services

SEOUL, Jan. 10 (Korea Bizwire) – South Korea’s financial authorities on Tuesday announced a plan to launch a full-scale pilot project this year on blockchain-powered financial services.  South Korea, known for its ICT prowess, has accelerated its drive for capitalizing on the new platform.  Blockchain is a key technology for the digital currency bitcoin enabling [...]

Gov’t in Emergency Mode on Financial Market

Gov’t in Emergency Mode on Financial Market

SEOUL, Nov. 7 (Korea Bizwire) – South Korea’s financial authorities on Monday announced a shift to an emergency operation mode to cope with a host of challenges facing Asia’s fourth-largest economy.  Yim Jong-yong, tapped as the nation’s finance minister, described the current situations as a crisis that’s like “stepping on thin ice.”  Yim, chairman of [...]

S. Korea Going All-Out to Stem Brexit Fallout

S. Korea Going All-Out to Stem Brexit Fallout

SEOUL, June 24 (Korea Bizwire) – South Korea on Friday said it will use all means to stabilize the local financial market following the unexpected result of the historic British referendum to leave the European Union.  As the world’s fifth-largest economy got ready to leave the 28-member economic bloc, South Korea’s financial market suffered a [...]

Korean Pension Funds to Get Green Light to Invest in ETFs

Korean Pension Funds to Get Green Light to Invest in ETFs

SEOUL, Oct. 4 (Korea Bizwire) – The financial regulator said Sunday that it will allow public and private pension funds to invest in exchange traded funds (ETFs) in a bid to provide a safer and decent yield-generating investment tool in the low rate environment. An ETF refers to an investment fund traded on stock exchanges [...]