The price of virtual assets like Bitcoin surged in the first half of this year, leading to a 46 percent increase in the market capitalization of the domestic virtual asset market compared to the end of last year, according to a recent study. However, it is still at a significantly reduced level comp
The Financial Supervisory Service (FSS) has decided to significantly strengthen its inspection system in the capital market, including the asset management industry, as illegal activities persist. Furthermore, ailing and illegal companies found in violation of regulations will face immediate cancell
Iranian funds, frozen in South Korea and later released, have once again become a topic of controversy. This is because the possibility was raised that the US$6 billion of Iranian funds, which had been held up in South Korea, were suspected to have been transferred to the Palestinian militant group
As the sole operator of nuclear power plants in the country, Korea Hydro & Nuclear Power (KHNP) has turned its attention towards revitalizing nuclear small and medium-sized enterprises which have been struggling with a shortage of projects. The initiative begins with the Shin Hanul Nuclear Power Pla
LOTTE Corporation’s 2021 Sustainability Report has been awarded Best of South Korea at the American 2023 Annual Report Competition (ARC) Awards.Now in its 37th year, the ARC Awards, organized by the U.S. corporate communications specialist MerComm, is the world’s largest annual report and sustainabi
Hana Financial Group recently attended an investor relations (IR) presentation targeting foreign investors in the Netherlands. This marks their third IR this year in Europe, following the joint financial IR in Singapore last May and the one in Hong Kong in September.On Oct. 6 (local time), Chairman
MBK Partners’ Chairman Kim Byung-ju’s best-selling novel “Offerings” is set to be adapted into a film.Hollywood’s Anonymous Content will co-produce the movie with Anthology Studios, established by Director Kim Ji-woon and Actor Song Kang-ho.According to the entertainment industry’s esteemed media ou
While the number of foreign nationals subscribing to domestic personal medical insurance is on the rise, it has been observed that the incurred losses and loss ratios of foreign policyholders under personal medical insurance have also increased.According to the “Status of Foreign Nationals’ Personal
Amid a decline in overseas real estate prices, funds that invested in offices in the United States and Europe are facing potential losses. It has been estimated that over 1 trillion won was invested in mutual funds that were sold since 2018. The number of investors who have invested in these funds e
Claims have emerged that Google Korea’s revenue for the previous year is up to 30 times higher than what was disclosed in its audit report. Taking into account the omitted revenue in the audit report, it is suggested that the corporate tax owed to the South Korean government by Google Korea could be
In the era of high interest rates and low growth, the rapidly increasing corporate debt has become another critical concern for the South Korean economy. Particularly worrisome is the growing prevalence of zombie companies that are keeping themselves afloat through debt, primarily among small and me
The National Pension Fund’s assets have surpassed 1 quadrillion won, marking the era of accumulated funds exceeding this milestone for the first time in 35 years since its establishment in 1988.According to financial investment industry sources on Oct. 3, the National Pension Fund’s assets reached a
SK biopharm’s U.S. R&D subsidiary, Proteovant Therapeutics, announced on Sept. 27 that it will present its latest research findings in the Targeted Protein Degradation (TPD) field at the “Discovery on Target 2023” held in Boston, Massachusetts, from Sept. 27 to 28, local time.In this presentation, P
On Sept. 25 (local time), Hana Financial Group announced that it has signed a memorandum of understanding (MOU) with the Saudi Export-Import Bank (Saudi EXIM) in Riyadh for the expansion of cooperative businesses within the Middle East.This marks the first business agreement between the Saudi EXIM B
On Sept. 25, KB Kookmin Bank announced that it signed an MOU with VNPT EPAY, a leading electronic payment company in Vietnam, on Sept. 21.Since its initial foray into Ho Chi Minh City in the southern part of Vietnam in 2011, KB Kookmin Bank expanded its presence by opening a branch in the northern c
As of the second quarter of this year, household and corporate debt has surged to approximately 2.26 times the nation’s economic size as measured by the gross domestic product (GDP). The Bank of Korea (BOK) has issued a warning emphasizing that the further expansion of private credit could potential
The KOSPI’s market capitalization, which had maintained the 2,000 trillion won (US$1.48 trillion) level since May, saw another sharp decline as it fell below 2,000 trillion won at the end of last month. The persisting “3 Highs” phenomenon – high interest rates, high oil prices, and a strong dollar –
The Seoul branch of Iran’s Bank Mellat has initiated a lawsuit against Woori Bank, seeking the return and a 6 percent annual interest payment on 20.2 billion won (US$14.96 million) in funds frozen due to U.S. sanctions.According to financial industry sources on Sept. 26, Bank Mellat filed a deposit
The government has officially confirmed the decision to double penalties for stock price manipulation gains as fines starting from January next year. However, it has decided to exclude cases where the prosecution has raised investigation concerns. The Korea Exchange (KRX) has also decided to expand
The battery materials industry is facing a challenging period as the export prices of cathode materials, a critical component in secondary batteries, have dropped by more than 15 percent for the third quarter of this year compared to the previous quarter. This situation is exacerbated by the reducti