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Reporter : Lee Min-hyung
Sun, July 3, 2022 | 17:06
Korea Exchange unveils two REITs indices
The Korea Exchange has unveiled two real estate investment trusts (REITs) indices comprised of Korea's 10-largest companies, which are investing in commercial property. Any investor seeking stable returns during a period of lackluster stock market performance can eye REITs investments, which entail low price volatility and high dividend profitability, according to the exchang...
KOSPI withstands external shocks better than Nasdaq, S&P
The benchmark KOSPI has suffered fewer shocks than major stock indices in New York, Hong Kong and Shanghai, as the earnings fundamentals of listed Korean firms are expected to remain robust until the latter half of this year, analysts said Monday.
Woori Financial launches foundation for public interest
Woori Financial Group will launch a foundation dedicated to providing multilateral support to the socially vulnerable and young generation here, the company said Sunday. The decision is part of Woori's group-wide efforts to fulfill the environmental, social and corporate governance (ESG) management. Under the plan, Woori's 15 affiliates will raise 20 billion won ($15.92 milli...
Rebranded Terra returns with huge price fall
The much-hyped revival of the Terra ecosystem is still sparking concerns over its credibility, with the price of Terra Luna 2.0 falling by around 70 percent Sunday in less than a day after its launch. According to data from CoinMarketCap, the price of the new Luna coin plunged to $5.49 as of 2:20 p.m. (KST), down by 69.15 percent from $17.80 on 6 p.m. Saturday.
Exchanges cry foul over gov't move to blame them for Luna's collapse
Cryptocurrency exchanges are crying foul over the government's move to shift the responsibility on them for the recent crash of the Terra stablecoin and its sister token, Luna. With more than 160,000 retail investors in Korea alone suffering losses from the Luna scandal, the National Assembly and the government held an emergency meeting recently with the heads of major crypto...
FSS extends inspection on scandal-tainted Woori Bank
The Financial Supervisory Service (FSS) will extend its inspection of the scandal-tainted Woori Bank, citing the need to look deeper into the lender's internal control system after one of its employees was arrested for allegedly embezzling more than 60 billion won ($47.3 million) from the lender last month. The financial authority was supposed to wrap up its investigation by ...
Mirae Asset, Hyundai Card team up for private label credit card
Mirae Asset Securities will launch a private label credit card (PLCC) by teaming up with Hyundai Card sometime in the latter half of this year. This will mark the first time for a Korean securities company to sign a PLCC partnership with a local credit card business operator. A PLCC is a special credit card issued for customers who want to receive benefits with a certain bran...
Despite Luna fiasco, Wemade set to launch stablecoin
Wemade has reiterated its willingness to issue its own stablecoin despite increasing negative sentiment in the global cryptocurrency industry following the sudden collapse of once-prominent Terra and Luna coins. Chang Hyun-guk, CEO of the local games publisher, shared Tuesday the company's vision to push ahead with its earlier plan to launch the tentatively-named WEMIX Dollar...
Authorities pledge to introduce legal safeguards amid Luna debacle
Financial authorities and the government are moving to introduce legal safeguards in the cryptocurrency industry by strengthening supervision on exchanges to prevent a recurrence of the recent collapse of the troubled stablecoin Terra and its sister token Luna.
Vice president of accountants' organization to head FSS
Lee Byung-rhae, vice president of the Korea Institute of Certified Public Accountants (KICPA), will lead the Financial Supervisory Service (FSS) as the first governor of the watchdog under President Yoon Suk-yeol's new administration. Lee is a financial expert who has led major government organizations such as the Korea Financial Intelligence Unit and the Korea Securities Dep...
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