search close
Reporter : Lee Min-hyung
Sun, November 27, 2022 | 01:22
Will Coinone increase market share with KakaoBank?
Coinone, the nation's third-largest cryptocurrency exchange, is seeking a fresh breakthrough in a partnership with KakaoBank amid bearish market sentiment. Under the partnership, the internet-only bank will offer real-name accounts for Coinone users. The exchange aims to attract more investors, as Dunamu - the operator of the largest crypto exchange here, Upbit - did after cl...
Korean financial markets reel after Fed's rate hike warning
Korean stocks tumbled and the local currency weakened sharply on Monday after U.S. Federal Reserve Chairman Jerome Powell warned of a prolonged monetary tightening at the Jackson Hole economic symposium over the weekend, sending shockwaves through the U.S. stock markets. Local stocks dipped by more than 2 percent on the first day after the economic symposium. The benchmark KO...
Housing prices fall due to rising interest rate
Korea's housing market has shown clear signs of entering a downturn and is highly likely to stay in the doldrums for a while amid steeply rising interest rates and a bleak outlook for an economic recovery, experts said Friday. Housing prices here had surged for the past few years due to the side effects of botched real estate policies pursued by the former Moon Jae-in adminis...
Banks in race to cut loan rates
Banks are in a rush to cut their interest rates on loans in a bid to avert public perception of them being “greedy” after the government introduced a policy that informs customers regarding each commercial lender's loan-to-deposit interest rate gap. After the policy took effect on Aug. 22, most banks are now moving to cut interest rates on their loan products.
BOK hikes key rate 4 straight times, but rules out 'big step' move
The Bank of Korea (BOK) increased its key interest rate by 25 basis points to 2.5 percent, Thursday, in a bid to fight inflation and curb the Korean won's sharp depreciation. This marks the first time in Korea's history that the central bank raised the key rate four consecutive times. The latest monetary decision put Korea's benchmark rate on a par with that of the U.S. Feder...
16 overseas crypto exchanges engage in illegal sales activities in Korea
Overseas cryptocurrency exchanges are engaging in illegal sales activities here without reporting their businesses to financial watchdogs. According to the Korea Financial Intelligence Unit, a total of 16 foreign crypto exchanges _ such as MEXC and KuCoin _ have allegedly violated the Financial Information Act by continuously operating their businesses without meeting the req...
Insurance sales agencies protest big tech firm's expansion into industry
Traditional insurers and insurance sales agencies are stepping up their protest against a recent decision by the financial regulator enabling big tech firms such as Naver, Kakao and Toss to start insurance comparison services via their online platforms. Under the decision by the Financial Services Commission (FSC), the online platform operators will be able to launch new serv...
Authorities' verbal interventions fail to curb won's slide
Despite financial authorities' verbal interventions, the Korean won continued its losing streak against the U.S. dollar Tuesday, closing at 1,345.5 won per dollar, down 5.7 won from a day earlier. It was the weakest level seen since April 29, 2009, when the won closed at 1,357.5 won in the midst of the 2008-2009 financial crisis. Tuesday's interventions came as the won-dollar...
Bitcoin feared to hit bottom again amid Fed's hawkish pivot
It is feared that major cryptocurrencies might tumble to a new low this year again amid diminishing investor sentiment after the U.S. Fed reiterated its hawkish pivot. Prices of Bitcoin and Ethereum hit the bottom in June and have since shown signs of recovery on then-reviving sentiment, with investors now expecting the Fed to slow down the pace of monetary tightening.
Korean won sinks to over 13-year low against US dollar
The Korean won weakened to the lowest level in over 13 years against the U.S. dollar due to a revitalized preference for safe assets after the U.S. Federal Reserve reiterated its hawkish gestures. The won-dollar exchange rate hit a new high of 1,340.1 won per dollar at one time on Monday afternoon before closing at 1,339.8 won, up 13.9 won from the previous trading day. This ...
123456789 10 
Copyright