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Finance

Markets

Mon, July 22, 2019 | 04:51

Financial firms join hands with retailers

A growing number of financial firms are partnering with retailers in a bid to diversify revenue sources and expand their business portfolios. Samsung Card said Wednesday it has signed a strategic partnership with Shinsegae Simon, a retail joint venture between Shinsegae and U.S.-based commercial real estate management firm Simon Property Group.

Jhoo Dong-chan | 2019-07-19 17:47

FSS launches special investigation team

The Financial Supervisory Service (FSS) and the prosecution launched a 16-member special investigation team to look into irregularities in the capital market with a ceremony held Thursday at the FSS headquarters on Yeouido, Seoul. The chief prosecutor of the Seoul Southern District Prosecutor's Office named 15 FSS officials and one from the Financial Services Commission as me...

Kim Bo-eun | 2019-07-18 16:05

Stock trading volume hits 15-month low in June

The total trading volume of Seoul stocks fell to a 15-month low in June despite a series of government efforts to revive the nation's sluggish stock market, according to a recent report. The government lowered the securities transaction tax to encourage investors for the first time in 23 years last month, but the result fell short of expectations. In the meantime, the total b...

Jhoo Dong-chan | 2019-07-18 13:27

Gold, dollar favored amid growing uncertainties

The balance of U.S. dollar-denominated deposits at banks and gold bar sales have been on a sharp increase over the past few months as investors prefer safe assets amid growing uncertainties caused by the U.S.-China trade feud and Japan's export restriction measures.

Lee Kyung-min | 2019-07-17 17:04

Hana to set up W1 tril. fund with China's sovereign fund

Hana Financial Group will team up with the China Investment Corporation (CIC) to set up a roughly 1 trillion won ($847 million) fund to invest in Korean companies operating in China, the group said Wednesday. The CIC operates about $941.4 billion in funds, one of the world's largest sovereign wealth funds with business partners including Goldman Sachs, HSBC, Deutsche Bank and...

Lee Kyung-min | 2019-07-17 17:04

Merrill Lynch fined W175 mil. for high-frequency trading

Merrill Lynch's Seoul office was fined 175 million won ($148,500) for violating regulations on high-frequency trading, the Korea Exchange (KRX) said Tuesday. Investigations showed the securities firm engaged in 6,220 cases of high-frequency trading on behalf of Citadel Securities, from October 2017 to May 2018.

Kim Bo-eun | 2019-07-16 16:31

Shinhan Card develops blockchain-based payment system

Shinhan Card has obtained a patent for a blockchain-based payment system. The company is the first in the world to have established a credit transaction service using the new record-keeping technology, it said Monday.

Lee Kyung-min | 2019-07-15 17:50

Key industry players team up for mobile ID certification

A consortium of three financial services firms, three mobile carriers and a tech giant has forged a business partnership to launch a blockchain-based form of mobile identification in 2020, industry sources said Sunday.

Lee Kyung-min | 2019-07-14 17:31

Why are foreigners buying Samsung, SK hynix shares despite Korea-Japan row?

Samsung Electronics and SK Hynix are experiencing difficulties since Japan is restricting exports of chip- and display-making materials, but foreign investors are rushing to buy shares of the two chipmakers, according to the Korea Exchange Sunday.

Jhoo Dong-chan | 2019-07-14 17:04

Hitachi Zosen exits Korea after forced labor ruling

Financial firms keeping close watch on Korea-Japan trade row

The nation's financial firms are paying close attention to the latest developments in the trade feud between Korea and Japan. They said that there have yet to be any signs of serious aftereffects from the trade row but they have held a series of emergency meetings to discuss the possible risks that could be caused by prolonging the conflict.

Jhoo Dong-chan | 2019-07-11 17:42

'Seoul proposes plan to compensate forced wartime laborers

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