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Reporter : Lee Min-hyung
Sun, November 27, 2022 | 01:53
Fears of recession grow
Korea has reported a trade deficit once again for September, extending its losing streak for the sixth consecutive month, according to data from the Ministry of Trade, Industry and Energy. The rate of export increase came in as a single-digit figure last month, but the rate of import increase hit double digits, bringing the nation's monthly trade balance to a deficit of $3.77...
Currency swap with US urged as last resort against worst-case scenario
Korea should immediately sign a currency swap agreement with the United States, experts said Thursday. They said the Bank of Korea (BOK) needs to make a preemptive move amid escalating economic and financial uncertainties here and abroad represented by the soaring won-dollar exchange rate.
Cryptocurrencies feared to experience longer winter amid Fed's hawkish moves
Cryptocurrencies are feared to remain in the doldrums even after the end of this year amid the U.S. Federal Reserve's gestures to remain hawkish and for longer than expected. The price of Bitcoin has been trapped in a band of around $20,000 during the past three months without showing any particular signs of a rebound. But earlier hopes were that the crypto winter would not l...
Korean stocks, currency slide amid fears of inflation, recession
Korean stocks and the local currency fell sharply amid heightened fears of inflation and a recession following the U.S. Federal Reserve's third straight “giant step” rate hike of 75 basis points last week. The benchmark KOSPI closed at 2,220.94, Monday, down 3.02 percent from the previous session. The tech-heavy Kosdaq reported a bigger loss of 5.07 percent and failed to defe...
Hedera eyes more partnerships with Korean banks, tech firms
BUSAN - Hedera Hashgraph, a distributed ledger technology network, will expand its partnerships with Korean tech players and financial firms by leveraging its fixed low costs and decentralized tracking and verification system, Leemon Baird, its inventor and co-CEO of Swirlds Labs, said in an interview. Hedera is a public cryptocurrency network platform for enterprises to crea...
Web 3.0, decentralized finance, smart contracts to reshape blockchain
BUSAN ― The Upbit Developer Conference (UDC) 2022 wrapped up its two-day session, Friday, shedding light on the next mainstream blockchain concept, which industry leaders said will be reshaped under key new trends represented by Web 3.0, decentralized finance and smart contracts. The annual fair was all about the future of blockchain, with leading specialists discussing a det...
UDC 2022 kicks off in Busan with focus on blockchain
BUSAN - The Upbit Developer Conference (UDC) 2022 started Thursday with great fanfare under the key theme of “Imagine your blockchain life,” bringing together prominent blockchain developers from here and abroad in the nation's largest port city. Leaders and developers from major blockchain network operators - such as Polygon, Solana, TRON and FTX - have appeared at the event...
Dunamu looks to global NFT market for growth
BUSAN - Dunamu, the operator of the nation's dominant crypto exchange platform, Upbit, has identified the worldwide non-fungible token (NFT) industry as its next big growth area amid the rise of the “fandom economy,” CEO Lee Sirgoo said, Thursday, on the sidelines of this year's Upbit Developer Conference (UDC) in Busan. “We have tried multiple businesses - such as custody an...
Dunamu ready to discuss new blockchain paradigm at UDC 2022
BUSAN ― Dunamu is all set to put on the agenda the next blockchain paradigm during the Upbit Developer Conference (UDC) 2022, which will kick off its two-day run in the nation's southern port city of Busan from Thursday. The annual blockchain conference ― hosted by the operator of Korea's leading cryptocurrency exchange ― is one of the largest of its kind here. Dunamu expects...
K bank unlikely to go public in 2022
K bank's much-anticipated initial public offering (IPO) is not in sight by the end of 2022, even after the internet-only bank won the qualification to go public on the local stock market. The Korea Exchange's listing notification committee confirmed Tuesday that the bank is qualified for listing here. Given that the qualification is effective for the next six months, K bank h...
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