Last year, the debt of the central and local governments, non-profit public institutions, and non-financial public enterprises in the public sector reached nearly 1,600 trillion won (US$1.24 trillion), marking a historic high. The debt of non-financial public enterprises such as Korea Electric Power
Among the currencies used in global trade this year, the Chinese yuan has emerged as the second most widely used currency after the U.S. dollar, reflecting its substantial presence. The assessment suggests that the yuan is rapidly gaining momentum as a potential key currency in the future.During the
Mirae Asset Global Investments announced on Dec. 5 the listing of two new Exchange Traded Funds (ETFs) on the Korea Exchange: the “TIGER U.S. Tech TOP10INDXX (H) ETF (472160)” and the “TIGER U.S. Tech TOP10 Bond Mixed ETF (472170).”The TIGER U.S. Tech TOP10INDXX (H) ETF invests in the top 10 market
The National Pension Service (NPS) has purchased a large stake in Coinbase, the largest U.S. cryptocurrency exchange, for the first time, paving the way for future direct investment in cryptocurrencies.According to a stock holdings report filed by the NPS to the U.S. Securities and Exchange Commissi
Due to the increase in corporate export proceeds deposits, resident foreign currency deposits rebounded by approximately US$4.6 billion last month compared to a month earlier. Yen deposits reached a record high due to individual investment demand amid the yen depreciation trend as well as corporate
KB Kookmin Bank has announced the signing of a memorandum of understanding with Thailand’s Siam Commercial Bank (SCB). Through this partnership, the two institutions intend to share financial technologies and infrastructure, developing a new financial model for creating a borderless payment infrastr
In anticipation of the scheduled launch of a bitcoin spot exchange-traded fund (ETF) early next year, institutional investors have been actively engaging in trading, according to recent analysis.Korbit Research Center under the domestic cryptocurrency exchange Korbit revealed this information throug
SK on is actively tapping the year-end financial market to secure investment funds for its battery ventures. Following its debut in the public offering corporate bond market earlier this year, the company is now actively utilizing the short-term corporate paper (CP) market for fundraising.According
South Korea has been removed from the U.S. currency manipulator watchlist for the first time. This move comes with recognition of the transparency in South Korea’s foreign exchange policies and marks a significant step towards stability in the value of the South Korean won, providing some relief for
The strength of the U.S. dollar, along with measures to stabilize the market and prevent further depreciation of the South Korean won, has resulted in a decline in foreign exchange reserves for the third consecutive month.According to foreign reserves statistics released by the Bank of Korea on Nov.
The National Pension Service (NPS) Investment Management has announced on Oct. 30 that the cumulative return on its funds for the first eight months of this year stands at an impressive 10.27 percent. This represents a significant increase of 0.54 percentage points compared to the return rate of 9.7
Amid the rising value of the U.S. dollar and the subsequent selling off to capitalize on profits, residents’ foreign currency deposits decreased by nearly $100 billion last month, marking a continuous decline for the second month in a row. Consequently, the foreign currency deposit balance shrank to
Cryptocurrency exchange Korbit announced that it will hold a “no-trading-fee” event for all crypto assets traded at Korbit beginning from 9 a.m. on Oct. 20.Customers can participate in the no-trading-fee trading event immediately without going through any additional procedures such as coupon registr
It has been revealed that the amounts of fines and penalties imposed on domestic commercial banks in foreign countries have increased by 180 times in just three years.Based on the data obtained by Kim Jong-min, a member of the opposing Democratic Party, from the Financial Supervisory Service, fines
Huawei kicked off the 14th Global Mobile Broadband Forum in Dubai, UAE. Li Peng, Huawei's President of Carrier BG, delivered a keynote at the event. In his speech, Li called on global carriers and industry partners to rise to the occasion, address increasing demands on networks, and make the most of
The author is an analyst for NH Investment & Securities. He can be reached at jooyh@nhqv.com -- Ed.Excluding the impact of exchange rates, Orion is continuing to enjoy a top-line growth trend in all four of its major market countries. Alongside manufacturing cost-to-sales ratio improvement, OP expan
Last month, resident deposits fell below US$100 billion (133.65 trillion won), marking a decline for the first time in four months. This decline is attributed to the strong dollar phenomenon, which has led to a reduction in the conversion value of deposits denominated in euros and yen.According to t
The Supreme Court of Korea has justified the Korea Fair Trade Commission (KFTC)’s decision to punish Citibank and JPMorgan Chase for allegedly colluding to bid on a currency swap contract. The ruling means that if a bidder cooperates with another participant during a bidding process to agree on the
Last month foreign investors experienced a net outflow of US$1.7 billion (2.26 trillion won) from their investments in domestic stocks and bonds, marking the first time in 7 months since January that such a substantial withdrawal has occurred. Both stocks and bonds saw capital leaving the market dur
Deputy Prime Minister and Minister of Strategy and Finance Choo Kyung-ho met with Uzbekistan’s Deputy Prime Minister for Economic Affairs to finalize a plan to enable Korean companies to receive an unpaid amount for the Surgil Project after six years.According to the Korean Ministry of Trade, Indust