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Sunday, February 25, 2018

Money

South Korean card issuers are expanding services that allow cardholders to use domestic use-only cards in other countries as well.
Expanding Card Services
26 December 2017 - 11:00am
South Korean card issuers are showing a move to gain independence from global card payment networks, such as Visa and Mastercard, by expanding services that allow cardholders to use domestic use-only...
Yoon Seok-hun, chairman of the Financial Supervisory Innovation Committee, presents a final recommendation at a briefing room of the Government Complex Seoul in Sejong-ro, Seoul, on Dec. 20
Strengthening Rather Than Easing
21 December 2017 - 9:30am
The Financial Supervisory Innovation Committee announced its final recommendation at the Government Complex Seoul on December 20. In this regard, the dominant view in the financial industry is that...
South Korean cryptocurrency exchange Youbit is shutting down and is filing for bankruptcy after losing 17% of its assets in a hack attack.
Bankruptcy of Bitcoin Exchange
20 December 2017 - 10:00am
A South Korean cryptocurrency exchange said on December 20 it is shutting down and is filing for bankruptcy after losing 17% of its assets in a hack attack. This is the first time for the bitcoin...
The Korean government is positively considering imposing transfer tax or transaction tax on crytocurrencies, but not on value added tax in order to avoid double taxation controversy.
Taxation on Crytocurrency
19 December 2017 - 11:15am
The Korean government will start taxation on cryptocurrencies on a full scale. It is said that the government does not regard virtual money as currencies or financial products subject to value added...
Mirae Asset Daewoo Co. will increase its equity capital to 8 trillion won (US$7.37 billion) though the government recently decided to suspend the screening on the company’s permission to issue promissory notes.
Dimension Similar to Nomura
19 December 2017 - 11:15am
Mirae Asset Daewoo Co., South Korea's biggest brokerage, announced that it will increase its equity capital to 8 trillion won (US$7.37 billion) by issuing new stocks, though the government recently...
Hackers used ransom ware to demand for payment in the past but they are now infecting computers of many users and using them to mine virtual currencies.
Due to High Bitcoin Prices
15 December 2017 - 9:45am
With the price of digital currencies having continuously been on the increase, hackers that are on the make are changing their attack methods. They used ransom ware, which encrypts people's important...
NXC, the holding company of Nexon, Mgame and PATI Games are preparing for digital currency business.
Synergy with Gaming Business?
15 December 2017 - 9:30am
Local game developers are entering the cryptocurrency market one after another. NXC, the holding company of Nexon, Mgame and PATI Games are preparing for digital currency business. The industry...
Korea’s top 100 businesses greatly increased their investments, though their performance dramatically improved this year.
Owing to Investment Expansion
14 December 2017 - 12:15pm
The free cash flow of South Korea’s top 100 businesses in terms of market cap decreased a whopping 35 percent from last year. This is because they greatly increased their investments, though their...
Korean small investors who want to make a profit with a short-term investment have turned their eyes to digital currencies.Korean small investors who want to make a profit with a short-term investment have turned their eyes to digital currencies.
Due to Concerns over Stock Capital Erosion
14 December 2017 - 10:30am
Concerns are being raised that the cryptocurrency market which recently seems to be overheating can encroach on the domestic stock capital. As small investors who want to make a profit with a short-...
The Fair Trade Commission (FTC) of Korea will decide whether or not it will order Samsung C&T to sell off additional shares as early as within this year.
Disposal of Samsung C&T Shares
14 December 2017 - 10:15am
The Fair Trade Commission (FTC) of Korea began a review of the disposal of five million Samsung C&T shares in accordance with the merger of Samsung C&T and Cheil Industries. The FTC will...
The South Korean government has decided to focus more on protecting consumers instead of implementing an all-out ban on cryptocurrency trades.
Restrictive Allowance
14 December 2017 - 9:15am
The South Korean government has decided to focus more on protecting consumers instead of implementing an all-out ban on cryptocurrency trades after an emergency policy meeting on December 13. It...
Controversy over regulation of cryptocurrency is heated up ahead of the Korean government’s decision on it.
Necessary Evil?
13 December 2017 - 10:45am
The South Korean government is planning to ban crytocurrency trading as its negative effects increase. Some experts point out such regulations will cause South Korea to fall behind in the blockchain...

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