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Sun, May 22, 2022 | 22:24

Foreign selling reaches 15 tril. won in Korea this year

Foreign investors have sold nearly 15 trillion won ($12 billion) worth of South Korean stocks this year through mid-May as they fled to safe haven assets amid growing stagflation worries, the country's main bourse said Sunday. From Jan. 1 through Friday, foreign selling stood at 14.8 trillion won on the country's two main bourses - 11.8 trillion won on the main Korea Exchange...

2022-05-22 22:03

Chinese people purchase nearly 7,000 buildings in S. Korea in 2021

Chinese people purchased nearly 7,000 buildings in South Korea last year, with more than half of the properties being from the Greater Seoul area, a ruling party lawmaker said Sunday.A total of 6,640 buildings, including apartments, were purchased by Chinese nationals last year, and 2,659 of them are located in Gyeonggi Province, which surrounds the capital city of Seoul, Chu...

2022-05-22 21:52

US stocks end bruising week near 'bear market' territory

The Dow and S&P 500 finished a rollercoaster session essentially flat, concluding a bruising week of losses on an uncertain note. Worries about a recession as the Federal Reserve hikes interest rates and inflation tests consumer resilience weighed on the market all week, pushing the S&P 500 into a bear market earlier in Friday's session.

2022-05-21 14:16

Biden's summit with Yoon to boost chip, battery, nuclear power stocks

2022-05-21 09:00

Korea, US to launch dialogue channel on economic security

[INTERVIEW] 'Fintech businesses yield both innovation and inclusion'

As the country's financial industry is fast shifting towards digitalization amid the pandemic, the fintech sector has been leading the transformation from the center of the tide. The fintech industry can contribute to social welfare amid this change, according to Lee Keun-ju, Chairman of the Korea Fintech Industry Association (KORFIN). “The fintech industry can contribute to ...

Anna J. Park | 2022-05-21 09:00

1.7% of local coin investors hold over 100 million won in cryptocurrencies

Nearly 100,000 local coin investors turned out to have over 100 million won ($78,247) in cryptocurrencies, accounting for about 1.7 percent of all local coin investors. According to data compiled by the Financial Services Commission (FSC), Thursday, the total number of users registered at local cryptocurrency exchanges stood at 5.58 million as of the end of last year. Only 1....

Anna J. Park | 2022-05-20 08:57

KOSPI unlikely to avoid negative impacts from global stagflation shock: analysts

As the U.S. stock market saw its biggest daily drop in nearly two years on Wednesday, Korea's main index, the KOSPI, fell below the 2,600-point mark on Thursday, with strong sell-offs from institutional and foreign investors, shedding the two previous sessions' gains. The index ended at 2,592.34, a 1.28-percent decline from the previous session, while the tech-heavy KOSDAQ fi...

Anna J. Park | 2022-05-19 16:39

Luna fiasco escalates into class action by victims

The devastated investors of Terra and Luna are moving to take class action against Do Kwon, co-founder of Terraform Labs, which developed the scandal-tainted cryptocurrencies. LKB & Partners, a Seoul-based law firm, is set to sue him and file a provisional attachment of his assets, holding him responsible for the recent crash of the two coins, the values of which have in abou...

2022-05-19 15:40

Stocks fall sharply as Target's woes renew inflation fears

The Dow Jones Industrial Average sank more than 1,100 points and the SP 500 had its biggest drop in nearly two years Wednesday, as big earnings misses by Target and other major retailers stoked investors' fears that surging inflation could cut deeply into corporate profits. The broad sell-off erased gains from a solid rally a day earlier, the latest volatile day-to-day swing ...

2022-05-19 09:37

Card companies compete in big data transaction market

Big data has become another key area of competition among local credit card companies, with major credit card firms increasing the registration of tradable big data products on the Financial Data Exchange. They are looking to be appointed as one of the country's officially designated data institutions, which will be announced later this year.

Anna J. Park | 2022-05-18 16:54

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