The Financial Supervisory Service is inspecting Woori Bank as one of the bank's branches in Seoul is involved in foreign exchange transactions suspected of money laundering.According to reports, a total of 800 billion won was remitted overseas through about 400 transactions at the bank's Eun
KB Kookmin Bank announced on June 20 that it has successfully issued 500 million euros in global covered bonds with 3.5-year maturity.It marked the bank’s third issuance of euro-denominated covered bonds, following the first one in July 2020 and the second one in October 2021. The issuance rate was
The ratio of foreign investors’ shareholding to the aggregate market value of KOSPI reached 30.83 percent on June 17, the lowest since Aug. 18, 2009. The ratio to the number of issued shares hit this year’s low of 18.01 percent on May 23 and reached 18.2 percent on June 17.They are continuing to dis
The Bank of Korea and the Fed concluded a US$60 billion deal in the FIMA Repo Facility in December last year. Since then, the central bank of South Korea has never used the supplement to their bilateral currency swap agreement. The U.S. and South Korean governments are planning to discuss further fi
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Com2uS Holdings’ share price has slipped as of late on falling prices for its crypto assets, uncertainties towards the P2E game market, and tepid earnings. But, viewing most of this bad news as a
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. We anticipate a recovery in Com2uS’s game sales from 2Q22 and a rebound in sales at WYSIWYG Studios (subsidiary) from 2H22. The launch schedules of some planned P2E games may be delayed due to Te
Cryptocurrency market watchers pointed out that the Luna Foundation Guard recently transferred US$3.5 billion of BTC to Gemini and Binance and the fund is currently untraceable.“How the foundation used the huge amount of BTC cannot be found as of now,” one of them said, adding, “One of the possibili
The Financial Supervisory Service announced on May 12 that foreign investors’ shareholding in the South Korean stock market was 696.222 trillion won last month, 26.7 percent of the aggregate value of the market and the lowest since May 2009.The ratio hit an all-time high of 33.9 percent in October 2
The Korea Development Institute (KDI) said on May 16 that the South Korean government would be able to limit the impact of U.S. tapering on the South Korean economy to a temporary rise in consumer prices with an independent monetary policy, whereas raising the key rate to follow the United States wo
Cryptocurrencies LUNA and UST have been delisted by multiple South Korean cryptocurrency exchanges.After the recent LUNA plunge, UPbit announced on May 13 that trading would become unavailable at 12:00, May 20 and withdrawal would become unavailable on June 20. Gopax also announced that LUNA trading
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com. -- Ed. Despite high expectations for the P2E game market following MIR4’s success last year, Wemade’s share price has performed sluggishly due to an absence of new games and the falling price of the WEM
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Maintain HOLD; slash target price 25% to KRW750,000 We maintain HOLD on LG H&H and slash our TP by 25% to KRW750,000 to reflect downward revisions to 2022E/2023E/2024E OP by 30%/9%/9%. Our TP implies 17.0x
The author is an analyst of NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed. International passenger demand is recovering in earnest, and cargo business remains solid. As transportation capacity (supply) recovery is proving slower than demand rebound, freight rates should rem
Hana Financial Investment announced on May 3 that it has introduced a service that allows investors to invest in U.S. stocks in connection with Hana Bank’s Hana Million Dollar Bankbook.The Hana Million Dollar account is a multi-currency deposit and withdrawal account through which customers can depo
Hyundai Research Institute said in its report on May 1 that stagflation is imminent in the South Korean economy, with oil and raw material prices rising along with interest rates and the won-dollar exchange rate.In March this year, consumer prices rose 4.1 percent, the highest since December 2011. T
The author is an analyst of KB Securities. She can be reached at shinay.park@kbfg.com. -- Ed. Raise target price 10% to KRW220,000 We maintain BUY on Amorepacific and raise our TP by 10% to KRW220,000 to reflect upward revisions to 2022E/2023E/2024E OP by 8%/3%/3%. The prolonged COVID-19 lockdown in
SK Group has surpassed Hyundai Motor Group to become the second-largest business conglomerate in Korea in terms of assets.The Fair Trade Commission announced on April 27 that it has designated 76 large business groups with assets exceeding 5 trillion won as corporate groups subject to public disclos
UPbit, Bithumb, Coinone and Korbit linked their travel rule solutions and cryptocurrency transfer between the four exchanges is now available again.The transfer between UPbit and the others was blocked on March 25 regarding the travel rule stipulated in the Act on Reporting and Using Specified Finan
In the first quarter of 2022, the amount of foreign currency securities held by Korean investors hit a quarterly record high of US$101.68 billion (about 125.75 trillion won), the Korea Securities Depository (KSD) said on April 21.According to the KSD, the settlement amount of foreign currency securi
The Bank of Korea announced on April 19 that residents’ foreign currency deposits decreased US$5.43 billion to US$92.71 billion last month.The deposits can be defined as those owned by local individuals and companies, foreigners staying for at least six months in South Korea, and foreign companies d