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Reporter : Anna J. Park
Tue, May 30, 2023 | 19:37
Local brokerage firms halt CFD trading amid increased market volatility
Local brokerage companies have begun to prohibit customers from opening new accounts for trading contracts for difference (CFD) - a financial derivative product tied to the difference in price of a contract's opening and closing prices - following a recently-revealed stock price manipulation scam involving eight local stocks, including Samchully, Daesung Holdings and Daou Dat...
Gov't to enact special law to support housing scam victims
Amid increasing calls for strengthened protection of housing rental tenants from malicious scams, the government has decided to redress financial damages borne by “jeonse” fraud victims through the enactment of a special law.
FSS chief to visit Singapore, Indonesia in May to support Korean financial firms' overseas operations
Financial Supervisory Service (FSS) Governor Lee Bok-hyun is slated to visit Singapore and Indonesia in the second week of May, aiming to support Korean financial companies' overseas business operations.
Korea to promote deregulation and structural reforms for private-sector-led economy: PM
Amid the ever-increasing importance of the economy in current geopolitical landscapes, the Yoon Suk Yeol administration will continue pushing for reforms that aim to promote an economy led by the private sector, Prime Minister Han Duk-soo said. In his congratulatory address at a special international conference marking the 30th anniversary of the Institute for Global Economic...
KakaoBank to sell mutual funds online in 2nd half
KakaoBank has earned preliminary approval from financial authorities to extend its business into financial investment and brokerage operations. If it receives the regulator's final authorization, the mobile-based lender will be the first internet-only bank in Korea qualified to sell mutual funds online via its mobile platform.
Financial authorities, firms join hands to support jeonse scam victims
Financial regulators and major financial groups have begun providing various support programs for victims of housing rental fraud, following a series of suicides committed by victims of cruel “jeonse” scams.
[INTERVIEW] M&A in materials, ESG, healthcare forecast to pick up
Despite the slowdown of global M&A transactions last year amid global interest rate hikes, Korea's M&A market is expected to continue to grow, particularly in the areas of materials, ESG-themed energy and equipment and healthcare sectors.
Gov't to inject 10.5 tril. won for venture investments
Financial Services Commission (FSC) Chairman Kim Joo-hyun, left, sits next to SMEs and Startups Minister Lee Young during a press briefing held at the Government Complex in central Seoul, Thursday. The government plans to inject 10.5 trillion won ($7.93 billion) to support investments in innovative ventures and startups. Courtesy of FSC
TIGER ETF posts handsome returns tracking China's SSE STAR index
With growing market expectations over China's reopening as well as its government's strong will to support the tech sector, exchange-traded funds (ETFs) tracking the country's SSE Star 50 index, otherwise known as the Shanghai Stock Exchange (SSE) Science and Technology Innovation Board 50 Index, have been posting impressive returns this year.
Why is BOK shunning gold despite global frenzy?
Countries' demand for gold has risen to an all-time high level recently, as global preference for safer assets has increased amid soaring global interest rates, concerns over economic recessions and the ongoing war between Russia and Ukraine. Yet, despite the global gold frenzy, Korea's central bank has not increased its holdings of gold for the past 10 years.
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