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Finance

Markets

Mon, October 18, 2021 | 01:19

Crypto market reorganized with 'Big 4' exchanges

The nation's cryptocurrency market is undergoing a major reorganization with only the top four coin exchanges - Upbit, Bithumb, Coinone and Korbit - having secured partnerships with local commercial banks for the use of real-name accounts by investors. Of the 29 coin exchanges that have completed their registration, required by a revision to the Act on Reporting and Using Spe...

Anna J. Park | 2021-09-26 16:43

Upbit crypto exchange operator Dunamu joins ranks of Korea's 'decacorns'

Dunamu, the operator of cryptocurrency exchange Upbit has joined the elite ranks of Korea's “decacorns,” or a startup company valued at over 10 trillion won ($10 billion), which include e-commerce giant Coupang and leisure reservation app Yanolja.

Anna J. Park | 2021-09-26 14:59

Delayed Kakao Pay IPO feared to decrease profits for Samsung Securities

Samsung Securities could see a decrease in profits due to another delay in the planned initial public offering (IPO) of Kakao Pay amid strengthened regulations on financial services platforms. The Korean brokerage is the lead underwriter of the IPO along with JPMorgan and Goldman Sachs.

Park Jae-hyuk | 2021-09-26 14:42

Banks collaborate with financial authorities on Evergrande risk review

The financial authorities and commercial lenders are reviewing spillover risk exposures posed by recent debt default fears at Evergrande, the biggest real estate company in China.

Lee Kyung-min | 2021-09-24 16:40

From 'controlled demolition' to near-certain default: Money managers outline views on Evergrande's crisis

Toughened financial regulations confuse crypto market, customers

The implementation of a toughened set of financial regulations is adding confusion to the cryptocurrency market and its customers, after a six-month grace period finished as of Friday.

Lee Min-hyung | 2021-09-24 16:16

'KOSPI, Kosdaq to be trapped in boxed ranges until Q3': analysts

After a three-day break for to the Chuseok holiday period, the benchmark KOSPI closed on a slight decline Thursday at 3,127.58 points, a 0.41 percent fall from last Friday.

Anna J. Park | 2021-09-23 17:01

Naver, Kakao on verge of suspending more financial services

Naver and Kakao, two of the nation's largest big tech firms, are facing temporary shutdowns of some of their financial services unless they revise their operations to meet requirements under a set of newly-introduced regulations. The Financial Services Commission (FSC), the country's top financial policy regulator, said Thursday the companies should either reform their curren...

Lee Min-hyung | 2021-09-23 16:27

Kakao Pay confirms IPO has been delayed

Top financial regulator urges market monitoring over Evergrande concerns

Korea's top financial regulator on Wednesday called for strengthening the monitoring of financial markets on concerns about a potential default by debt-laden property developer China Evergrande Group.

2021-09-22 20:27

Won-dollar exchange rate faces upward pressure from FOMC, Evergrande

The Korean won is expected to continue weakening against the U.S. dollar, as concerns over Evergrande and possible talk of tapering at the next Federal Open Market Committee (FOMC) meeting could prompt investors to flock to safer assets.

Lee Min-hyung | 2021-09-22 16:17

Evergrande crisis to have limited impact on equity market: analysts

Evergrande crisis to have limited impact on equity market: analysts

Korean stock markets - which were closed for the nationwide Chuseok holiday break - will experience corrections due to the rising default risk by China's Evergrande Group whose debt crisis has jolted global equity markets. However, the impact of the “Evegrande risk” should be short-lived, as key outstanding issues have already been factored in, analysts said Wednesday.

Lee Min-hyung | 2021-09-22 15:34

Won-dollar exchange rate faces upward pressure from FOMC, Evergrande

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