Malicious code targeting cryptocurrency is increasing at an alarming rate with the rising value of virtual money, statistics showed Friday.According to Korea Internet & Security Agency, 5,366 cases of damage from ransomware were reported in the January-September period this year, up 3.7-fold from 1,438 in the same period last year.  Reported instances of malicious code in the July-September period increased to 452 from 436 in the second quarter. Among them, 347 were ransomware and 44 we

The Bank of Korea said Thursday that the government’s full-fledged anti-speculative measures on real estate to curb household debt is expected to successfully put a dent on the growth of household loans.In a report submitted to the National Assembly, the central bank said it expects the increase in the volume of debt to slow, as the housing market shows slower price hikes in heated regions and transaction volume has been falling since September.

Negotiations between Seoul and Washington regarding the revision of the Korea-US Free Trade Agreement are expected to begin next month, according to the Ministry of Trade, Industry and Energy. 　The timeline for the FTA revision process still needs to be determined because the US has yet to officially announce whether it intends to push forward with a full or partial revision of the agreement, said a Trade Ministry official. However, if the two nation’s push for a speedy process, negotiatio

South Korea's central bank said Thursday that it will maintain the current monetary easing stance but may raise rates if market conditions are favorable."We plan to maintain our stance of monetary policy accommodation, as the inflationary pressures on the demand side are not expected to be high, although the trend of domestic economic growth is likely to continue," the Bank of Korea said in a report submitted to the National Assembly earlier in the day. Still, the central bank said &qu

South Korean stocks traded higher Thursday morning on the back of gains in shipbuilders and insurance shares.The benchmark Korea Composite Stock Price Index rose 3.15 points, or 0.12 percent, to 2,555.55 as of 11:20 a.m. Shipbuilders traded higher, with industry leader Hyundai Heavy Industries rising 0.61 percent and Samsung Heavy Industries adding 3.11 percent.Samsung Life Insurance, the top life insurer, advanced 1.14 percent and Samsung Fire & Marine Insurance increased 0.19 percent.The l

The Financial Supervisory Service said Thursday it will reform its hiring practices after a series of irregularities emerged of new employees having ties with influential figures. The FSS has been under fire after state auditors found in September that senior FSS officials gave special favors to some job candidates who are relatives of politicians and senior financial executives. To eliminate influence-peddling in hiring, the FSS will abolish the process of screening resumes and cover letters an

South Korea's top economic policymaker said Thursday he will push forward President Moon Jae-in's key policy goal of raising the minimum wage, which is seen as vital for fueling economic growth."In order to achieve income-led economic growth, it is important for the government to help workers have enough earned income. A higher minimum wage is a starting point," Finance Minister Kim Dong-yeon said in a ministerial meeting in Seoul. "The government will strive to have the minimum w

The government said Thursday it will inject nearly 3 trillion won ($2.7 billion) into smaller companies to ease their cost burden resulting from a drastic increase of the wage floor starting next year. A company with less than 30 staff will be eligible for state support of up to 130,000 won per employee to cover payroll costs, according to the Ministry of Strategy and Finance and the Ministry of Employment and Labor. The government is expected to spend a total of 2.97 trillion won for the plan.A

NCsoft Corp., South Korea's biggest online game publisher, reported record-breaking quarterly performance for the third quarter Thursday on the back of the global popularity of mobile game "Lineage M."Operating income jumped 403 percent on-year to 327.8 billion won ($294 million) in the July-September period, and sales soared 234 percent over the year to 727.3 billion won, the company said in a regulatory filing.  The third-quarter sales and operating profit represent record-break

With KB Financial Group Inc.'s extraordinary shareholders meeting 10 days away, a global corporate advisory firm has objected to two agenda items offered by the major banking group's labor union, industry sources said Thursday.In a recent report, US-based Institutional Shareholder Services Inc. has advised shareholders to vote against the nomination of a union-selected lawyer with a history of civil activism and politics as an outside director.The company has also expressed its opposition to the

Financial authorities plan to tighten rules on public disclosures of corporate governance in a bid to improve transparency for investors and shareholders, the head of the top financial regulator said Thursday. Choi Jong-ku, chairman of the Financial Services Commission, made the remarks during a meeting with foreign institutional investors. Currently, listed firms are advised to voluntarily make public disclosures of their corporate governance structure, but Choi indicated that they will be grad

South Korea's main stock market has been the third-best performer among bourses in major advanced and emerging countries this year despite its recent drop, data showed Thursday.The benchmark Korea Composite Stock Price Index fell for the second session to close at 2,545.44 on Tuesday on profit-taking after touching an all-time high on Friday, according to the data by the Korea Exchange.Yet Tuesday's close was up a whopping 25.6 percent from the end of last year, posting the third-highest gain am

Russian President Vladimir Putin has called for efforts to establish a system of comprehensive economic cooperation encompassing the Asia Pacific and Eurasian regions, asking South Korea and other countries to actively join the vision.Putin made the appeal in his op-ed piece to Yonhap News Agency ahead of the Asia Pacific Economic Cooperation summit to be held in Vietnam on Nov. 10 and 11."As a major Eurasian power with vast Far Eastern territories that boast significant potential, Russia h

During his two days in South Korea as part of his tour of Asia, US President Donald Trump proved to be what he has been since even before politics came along -- a profit-driven businessman to the core.Though his official message mostly pivoted on North Korea and its nuclear-ambitious leader Kim Jong-un, the billionaire entrepreneur-turned-president took a utilitarian approach toward money issues by highlighting American jobs, sales of US weapons and the bilateral free trade deal.Using the second

A board member of South Korea's central bank hinted Wednesday at a possible rate increase if the global economic recovery continues and central banks opt for tighter fiscal policies.Hahm Joon-ho, a member of the monetary policy board at the Bank of Korea, said economic growth and fiscal tightening overseas will affect the country's neutral interest rates."An upward pressure on the domestic neutral real interest rate could heighten the necessity to adjust the country's accommodative policy,&