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Reporter : Lee Min-hyung
Fri, July 1, 2022 | 01:53
REITs draw spotlight amid rate hikes
Indirect real estate investment is regaining the spotlight as a safe haven amid increasing volatility in the local stock market. Investors prefer real estate investment trusts (REITs) when demand for safer assets is rising amid fears of rate hikes, as REITs offer decent dividend returns even during periods of monetary tightening.
Calls grow for establishment of state agency overseeing cryptocurrency trading
Calls are growing for the establishment of a government organization to oversee the cryptocurrency market. The Financial Services Commission (FSC) has so far functioned as a de facto control tower over the industry, but has been criticized for relying solely on tough regulations to do the job. As a result, the industry has requested the incoming administration led by Presiden...
Will Samsung's financial network make breakthrough?
With Samsung Group launching a new financial brand called Samsung Financial Network, all eyes are on whether the five financial arms of Samsung will be able to generate enough synergy despite an increasing aversion to big tech and fintech firms. Samsung launched a converged financial app called “Monimo,” Thursday, seeking to offer a customized financial service app for its cu...
Job market yet to show robust recovery despite improved figures: experts
Korea's job market is still far from entering a phase of robust recovery despite remarkable improvements in employment statistics. Experts say that the improvements are mainly due to a base effect of the COVID-19 pandemic, while they advised the government to help private businesses hire more people instead of relying on government spending to create temporary jobs.
More companies adopt electronic voting system in Korea
A growing number of companies here are introducing electronic voting systems, as the COVID-19 pandemic has resulted in new voting systems for shareholders' meetings. According to data from the Korea Securities Depository (KSD), a total of 974 firms used the KSD's electronic voting system ― called K-VOTE ― in their shareholders' meetings in the first three months of this year.
Korean stocks tumble on Wall Street declines
The benchmark KOSPI slumped around 1 percent Tuesday in the aftermath of an overnight retreat on Wall Street. U.S. stocks tumbled after the yield on 10-year U.S. Treasury bonds rose. In response, the main Korean bourse fell 0.98 percent or 26.34 points from the previous session to close at 2,666.76.
NongHyup Bank introduces blockchain system for CBDC
NongHyup Bank started work on a blockchain system to deal with the introduction of a central bank digital currency (CBDC), the lender said Monday. The bank plans to build the blockchain-powered platform, so it can play a proactive role after the Bank of Korea (BOK) introduces its own CBDC sometime in the near future. Under the platform, NongHyup will verify whether it can hel...
Will corporate accounts boost cryptocurrency trading?
As Shinhan Bank starts to issue real-name accounts for corporate clients' cryptocurrency trading, more capital is expected to flow into the market in line with the incoming administration's deregulatory stance on the industry, officials said Monday.
More coin exchanges linked with banks to open: report
A group of three to four more existing crypto exchanges are expected to make their debuts as ones that offer coin trading services in the Korean won, a media report said Friday .In Korea, no crypto exchange can operate a coin trading service via the local currency unless they sign a contract with a commercial bank here. Thus, only five exchanges offer such services after secu...
Shinhan, Carlyle to set up $1.68 bil. joint fund for overseas investment
Shinhan Asset Management is set to join hands with Carlyle Group by establishing a joint investment fund worth around 2 trillion won ($1.63 billion). Both companies are in the advanced stage of talks on how to manage the fund for overseas investments for the next three years in areas such as equity and infrastructure financing. “Talks have been underway for the establishment ...
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