In order to drive the sustainable growth of the fintech industry in the post-coronavirus era, South Korea needs to improve its regulatory frame, the British Chamber of Commerce in Korea has said. The BCCK’s fintech committee, which kicked off in December last year, has released its first white paper to highlight how the current COVID-19 pandemic is accelerating the digital transition across the world, officials said Sunday. Outlining the best practices and policy suggestions on the lates

Robo-adviser startups in South Korea saw their funds increase by more than 1 trillion won ($896.7 million) in a year, driven by stock trading fever amid the prolonged COVID-19 pandemic, industry data showed Sunday.  According to data from the Korea Financial Investment Association, the amount of funds entrusted to the country’s four major robo-adviser firms -- Fount, Aim, December & Company and Doomoolmori -- stood at 1.29 trillion won in the third quarter, up some 1.03 trillio

KB’s shareholders consent to another term for its incumbent chairman and flagship lender’s CEO, but disapprove union-recommended outside directors

Experts recommend investors to keep eyes on growth value, ‘contactless’ biz sectors

South Korean stocks opened slightly higher Friday, taking a cue from overnight Wall Street tech gains despite an increase in the new coronavirus cases. The benchmark Korea Composite Stock Price Index rose 2.9 points, or 0.11 percent, to 2,550.32 in the first 15 minutes of trading. Stocks started off with a mild gain after the index hit a nearly three-year high the previous session. Overnight, the tech-heavy Nasdaq composite gained 0.87 percent, with the Dow Jones Industrial Average edging u

South Korea’s financial regulator, the Financial Services Commission, is looking to invite a wider range of retail investors to get access to shares offered when a company goes public on the Korean stock market. The key to the new measure is encouraging Korean underwriters of the initial public offering -- eligible for securities brokerage firms -- to allocate at least 10 percent of stocks potentially to any retail participant, regardless of how many bids retail investors place when subsc

First new brokerage approved in 12 years, Viva Republica to benchmark US’ Robinhood

South Korean stocks continued to build up gains Thursday after hitting a nearly three-year high the previous session, as battery makers remained in positive terrain amid concerns of surging COVID-19 cases. The Korean won sharply fell against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.78 points, or 0.07 percent, to close at 2,547.42, the highest since Feb. 1, 2018.  Trading volume was moderate at about 961 million shares worth some 12.3 trillion won ($11

South Korean stocks opened lower Thursday after hitting a nearly three-year high the previous session, as valuation pressure and concerns of surging COVID-19 cases offset vaccine hopes. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.41 points, or 0.49 percent, to 2,533.23 in the first 15 minutes of trading. Stocks fell after hitting a 33-month high in the previous session. Investor wariness increased on valuation pressure and rising coronavirus cases. Market kingpin Samsung

South Korean shares hit the highest in 33 months Wednesday on a rally in bio stocks amid concerns over a flare-up of new coronavirus outbreaks. The Korean won surged to a 29-month high against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.49 points, or 0.26 percent, to close at 2,545.64. The reading marks the highest closing since 2,568.54 points on Feb. 1, 2018. Trading volume was moderate at about 911 million shares worth some 13.3 trillion won ($12 billion),

The financial regulator’s latest move to introduce regulations on the payment settlement system is facing a backlash from the industry, and especially the central bank. The trigger was the revision bill of the Electronic Financial Transactions Act, drafted by the Financial Services Commission and submitted to Rep. Youn Kwan-suk of the ruling Democratic Party of Korea, who chairs the parliamentary National Policy Committee. The bill includes e-payment business deregulations for big te

Buoyed by the progress of coronavirus vaccine development and monetary easing policies, expectations are on the rise that the global economy can get itself out of the virus crisis soon. The Asia-Pacific region is predicted to post 9 percent growth in its domestic production rate in 2021, and the robust on-year growth will be driven mainly by a strong recovery in private consumption, according to an Asian branch of investment bank Morgan Stanley on Wednesday. “Private consumption could em

Shinhan Bank teams up with CJ Olive Networks, LG U+ for “MyData” platform, blurring lines between industries

South Korean shares opened nearly flat Wednesday, as investors remained worried over soaring COVID-19 cases. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.16 point, or 0.01 percent, to 2,539.31 in the first 15 minutes of trading. Stocks came to a muted start despite vaccine hopes, as South Korea's new coronavirus cases hovered above 200 for the fourth day in a row Tuesday, with authorities warning that infection cases may further increase due to cluster infections in greater S

South Korea’s banking industry on Tuesday sorted out seven candidates for the Korea Federation of Banks’ next chairmanship, set to make the final choice as early as Monday. In an apparent response to criticism that the bankers’ association is under excessive bureaucratic influence, the latest list included several figures from the private sector -- incumbent or former chiefs of commercial banks. The KFB board of directors met in a closed-door breakfast meeting early in the