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Reporter : Lee Min-hyung
Fri, July 1, 2022 | 05:28
Shinhan introduces data-driven anti-money laundering system
Shinhan Bank has introduced a big data-powered anti-money laundering system, in a preemptive move to detect any signs of unusual transactions, the lender said, Thursday. The Shinhan-Trade Based Money Laundering (S-TBML) allows the bank automatically to monitor any signs of money laundering or suspicious transactions.
Stock uncertainty pushes more companies to delay IPOs
Korean companies are delaying their listing plans amid weakening investor sentiment prompted by aggressive tightening of global monetary policy. As the tumbling benchmark KOSPI keeps setting a new yearly low each day, a group of companies have withdrawn their initial public offering (IPO) plans.
Luna's fall unnerves Korean crypto investors
Korean crypto investors' fear sentiment is reaching its peak after Terra's flagship stablecoin UST, started dropping its intended $1 peg on Monday, in what is seen by many as a “prelude” to the ongoing collapse of its sister token Luna. Luna is traded at around 12,000 won ($9.40) as of Wednesday 3:20 p.m., according to Korea's largest cryptocurrency exchange Upbit. This is a ...
Hanwha Asset Management launches US alternative investment ETF
Hanwha Asset Management has launched an exchange-traded fund (ETF) of alternative investments in the U.S., allowing investors to diversify their asset portfolios in a more stable manner amid growing inflationary pressure, the company said Wednesday. The ARIRANG U.S. alternative investment Top 10 MV ETF features investments in major U.S. listed companies that focus on alternat...
KOSPI fails to bounce back despite new government's inauguration
The benchmark KOSPI plunged again to this year's new low of 2,596.56 points, Tuesday, on the same day as the inauguration of the new government led by President Yoon Suk-yeol. The local stock markets failed to defend against escalating fears of stagflation despite Yoon's deregulatory pledges in the local asset market. Foreign investors' panic selling of local stocks drove the...
Outgoing finance minister urges incoming gov't to maintain fiscal soundness
Outgoing Finance Minister Hong Nam-ki has urged the incoming administration to focus on maintaining fiscal soundness amid the rapidly aging population. “The role of national finance has increased while we overcome the crisis of the COVID-19 pandemic, but this has inevitably resulted in the steep rise of the national debt,” Hong said in a farewell speech, Monday.
Soaring prices in services sector feared to hamper economic recovery
Soaring prices in the service sector are feared to thwart economic recovery, as they will weaken people's purchasing power despite increased outdoor activities following the lifting of social distancing measures here, experts said Monday. According to data from Statistics Korea, prices in the service sector rose by 4.5 percent in April from the previous year. This rise was th...
KakaoBank considers forging ties with crypto exchanges
KakaoBank is considering tapping into the cryptocurrency industry through a potential partnership with cyber money exchange operators here. The internet-only lender leaves open various possibilities before taking more concrete steps for its expansion into the new industry. The move reflects growing demand for cryptocurrency transactions here and abroad. The young and innovati...
KOSPI ends down on overnight declines on Wall Street
Korean stocks pulled back Friday as overnight declines on Wall Street sapped investor sentiment here. This situation heightened fears that the benchmark KOSPI might extend its losses at a time when the U.S. Federal Reserve is scheduled to carry out additional big rate hikes by the end of this year. The main bourse closed at 2,644.51, down 1.23 percent from the previous sessio...
Specter of 'perfect storm' looms over Korean economy
The Korean economy should preemptively combat the possible repercussions of a “perfect storm” of rising inflation, plummeting stock prices and a heightened risk of global supply disruptions, and focus on ensuring corporate resilience, experts said Wednesday. Coupled with the multiple risk factors, the economy is also widely forecast to slow down this year. In February, the Ba...
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