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Reporter : Anna J. Park
Sun, December 3, 2023 | 11:04
Triple whammy weighs heavily on Korean economy
The Korean economy is expected to undergo a highly uneven recovery as a toxic cocktail of rising inflation, high interest rates and a weakening Korean won are set to hamper growth in the second half of this year, according to analysts, Thursday.
Toss founder advises startups to 'think big' from public interest perspective
Lee Seung-gun, founder and CEO of Viva Republica, has advised fintech entrepreneurs to consider deeply how to provide benefits for the greater public, as innovation often comes from solving social problems.
Seoul to invest W5 tril. to become fintech powerhouse
Seoul Mayor Oh Se-hoon vowed Wednesday to inject a total of five trillion won ($3.7 billion) to foster fintech startups into unicorns and transform the capital into a global fintech powerhouse.
Value, consumer goods, financial stocks expected to gain momentum after Chuseok holiday
Korean stock markets have entered into a wait-and-see phase ahead of a long weekend starting Thursday. With the Chuseok holiday and the National Foundation Day on Oct. 3 combining this year to create the six-day-long holiday, the local stock market is closed from Sept. 28 until Oct. 3.
KDIC strengthens exchanges with US FDIC
The Korea Deposit Insurance Corporation (KDIC) and the Federal Deposit Insurance Corporation (FDIC) have agreed to enhance mutual cooperation and strengthen information sharing between the two organizations. The FDIC is a U.S. government corporation that supplies deposit insurance to depositors in American commercial banks and savings banks.
Seoul Fintech Week 2023 to be held from Oct. 4-6
The Seoul Metropolitan Government will host this year's Seoul Fintech Week from Oct. 4 to 6 at Dongdaemun Design Plaza (DDP) in Seoul.
Is IPO market regaining momentum?
Market watchers say the success of the stock market debuts of Millie and Doosan Robotics will serve as a gauge of Korea's initial public offering (IPO) market sentiment in the second half of this year.
BOK warns of worsening household debt situation
Korea's housing market capitalization reached 6,209 trillion won ($4.5 trillion) last year, nearly three times the country's nominal GDP, which stood at 2,162 trillion won. The ratio of household debt to GDP, meanwhile, is much higher than that of other economies, leaving Korean households vulnerable to high interest rates, the central bank warned.
FSS warns fisheries cooperatives over sloppy response to failed overseas investment
The Financial Supervisory Service (FSS) has issued a management caution against the National Federation of Fisheries Cooperatives (NFFC) for its sloppy response to a failed overseas alternative investment worth 50 billion won ($37 million).
Mirae Asset Global Investments' AUM reaches $219 bil.
Mirae Asset’s global business moves are attracting market attention as the Korean government has recently been actively promoting the global competitiveness of "K-Finance" through hosting overseas investor relations events in Europe and Southeast Asia.
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