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Reporter : Lee Min-hyung
Sun, July 3, 2022 | 17:35
NongHyup employee arrested for allegedly embezzling 4 billion won
An employee at a regional NongHyup office in Gyeonggi Province was arrested Wednesday for allegedly embezzling 4 billion won ($3 million) from the office. According to Gwangju Police in Gyeonggi Province, the worker is suspected of having transferred the corporate capital into a bank account of his accomplice multiple times since April.
Bitcoin fall drags down local crypto exchange stocks
The ongoing crash of major cryptocurrencies is dragging down crypto-related stocks here, with most companies that invested in exchanges extending losses in line with escalating fear sentiment in the global crypto market. Kakao was hit hardest by growing skepticism in the crypto industry. Shares of the nation's dominant mobile platform operator have continued a losing streak f...
BC Card launches online art sales service
BC Card launched an online artwork sales service via its e-commerce platform, Tuesday, giving customers easier access to purchase art pieces. According to the nation's largest payment processing company, artists sell their art through the pay-Z platform operated by BC Card. Customers also do not have to visit an art gallery, and can purchase art easily by visiting the sales p...
Investors panic due to plunge in values of major cryptocurrencies
The prices of Bitcoin and Ethereum took a nosedive on Tuesday amid escalating fears that monetary authorities here and abroad will step up their fight against inflation with more aggressive monetary tightening. Bitcoin's price plunged to an 18-month low, failing to defend the 30 million won ($23,200) mark. Ethereum, the world's second-most-valuable cryptocurrency, also plunge...
Fears loom over twin deficits, stagflation
The Korean economy faces heightened risk after the country reported a current account deficit this April for the first time in two years. Coupled with a years-long deficit in the consolidated fiscal balance, these twin deficits are feared to take a heavy toll on the economy. Other risk factors, such as rising inflationary pressure and the soaring won-dollar exchange rate, wil...
Retail investors hit hard by Kakao's sharp decline
Kakao's huge stock fall is unnerving Korean retail investors, as major affiliates of the once-promising growth stock have been hit hard by global monetary tightening. According to data from the Korea Exchange, Kakao and its three major subsidiaries have extended losses of more than 30 percent this year. The combined market capitalization of Kakao, KakaoBank, Kakao Pay and Kak...
Shinhan set to launch digital non-life insurance business
Shinhan Financial Group is one step closer to starting a digital non-life insurance business after obtaining regulatory approval to incorporate BNP Paribas Cardif General Insurance as a new subsidiary. Shinhan is set to transform the company into a digital non-life insurer soon. The financial holding firm acquired a 94.56-percent stake in BNP Paribas Cardif for 41 billion won...
Securities firms in hot seat after prosecutor-turned-governor hints at new probe
Securities firms could end up in the hot seat after the country's regulatory watchdog hinted at re-launching a probe into the misselling of problematic fund products managed by Lime Asset Management and Optimus Asset Management. Major brokerage houses here, including NH Investment & Securities and KB Securities, were slapped with sanctions by the Financial Supervisory Service...
Luna price extends bigger loss; investors advised to avoid speculative investments
Cryptocurrency investors are urged to be on high alert due to the huge price volatility of the rebranded Luna token, as its price keeps showing a downward trajectory without any clear signs of a rebound. As of 3 p.m. Wednesday, Luna's price came in at $3.40 (4,260 won), down by around 20 percent from the previous day, according to data from CoinMarketCap.
Hanwha unveils new ESG plan
Hanwha Life Insurance has unveiled its mid-term environmental, social and corporate governance (ESG) management roadmap, with a view to building a more solid foundation for sustainable growth. Under the slogan of Green Life 2030, the company set three core strategies for its new ESG management plan. They include twofold growth in eco-friendly and prosocial investments, a 40-p...
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