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Wed, July 6, 2022 | 13:37

Rebranded Terra returns with huge price fall

The much-hyped revival of the Terra ecosystem is still sparking concerns over its credibility, with the price of Terra Luna 2.0 falling by around 70 percent Sunday in less than a day after its launch. According to data from CoinMarketCap, the price of the new Luna coin plunged to $5.49 as of 2:20 p.m. (KST), down by 69.15 percent from $17.80 on 6 p.m. Saturday.

Lee Min-hyung | 2022-05-29 15:47

Why Mario Outlet founder keeps buying houses of former presidents

Mario Outlet President and Chairman Hong Seong-yeol, who's been in the media frequently as an eccentric collector of former presidents' homes, has added yet another new asset - former President Moon Jae-in's previous house - to his collection. According to the country's real estate registry on Friday, the fashion company founder has officially become the new owner of Moon's f...

Anna J. Park | 2022-05-28 09:58

Exchanges cry foul over gov't move to blame them for Luna's collapse

Cryptocurrency exchanges are crying foul over the government's move to shift the responsibility on them for the recent crash of the Terra stablecoin and its sister token, Luna. With more than 160,000 retail investors in Korea alone suffering losses from the Luna scandal, the National Assembly and the government held an emergency meeting recently with the heads of major crypto...

Lee Min-hyung | 2022-05-26 16:01

Number of big foreign investors in Korean stocks dips over 6 years

The number of big foreign investors in Korean stocks has tumbled nearly 30 percent over the past six years, a corporate tracker said Thursday, in a sign the local bourse is increasingly losing its appeal amid a lack of transparent corporate governance.

2022-05-26 14:22

Over 7 in 10 stocks suffer setbacks over past year

More than 7 out of 10 listed companies in Korea have suffered stock price setbacks over a one-year period as investors remain disheartened by rate hikes in major economies, data showed Thursday.

2022-05-26 09:33

Regulatory clarity is key feature of Hong Kong as fintech hub: fintech association

HONG KONG - Deregulation is often cited as the key to spurring innovation and the growth of markets. But the latest Terra-triggered cryptocurrency crash is shedding light on the importance of having a sound regulatory regime. Hong Kong has developed into a fintech hub, backed by its status as a global financial center, and also by an adequate regulatory environment, the head ...

Kim Bo-eun | 2022-05-25 17:30

Auditing firms compete to secure rookie accountants

The country's big four accounting firms - Deloitte Anjin, EY Korea, Samil PwC and Samjong KPMG - are competing to hire rookie accountants as demand for accounting services surged following the revision of Korea's external audit law.

Anna J. Park | 2022-05-25 09:00

Authorities pledge to introduce legal safeguards amid Luna debacle

Financial authorities and the government are moving to introduce legal safeguards in the cryptocurrency industry by strengthening supervision on exchanges to prevent a recurrence of the recent collapse of the troubled stablecoin Terra and its sister token Luna.

Lee Min-hyung | 2022-05-24 16:51

[ANALYSIS] Internet-only K bank pressed to delay IPO plan

Korea's first internet-only bank _ K bank _ is considering delaying its scheduled initial public offering (IPO) to the latter half of next year at the earliest, according to two senior investment bank executives involved in the process. Regarding the details of its IPO, K bank said its plan to go public in early 2023 remains unchanged, but is still subject to change based on ...

Kim Yoo-chul | 2022-05-24 08:25

Seoul shares up for 2nd day amid hope for inflation slowdown, eased virus lockdown in China

Korean stocks ended marginally higher to rise for a second day Monday amid hopes for a slowdown in inflation and partial easing of COVID-19 lockdowns in China. The local currency gathered ground against the U.S. dollar.After swerving in and out of positive terrain, the Korea Composite Stock Price Index (KOSPI) closed up 8.09 points, or 0.31 percent, to 2,647.38.Trading volume...

2022-05-23 22:28

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