K bank, South Korea’s first online-only bank, has come under financial pressure over its failure in capital increase through issuing new stocks, as pledged in May. By Thursday, K bank shareholders were scheduled to buy 24 million newly issued common stocks and 6 million convertible preferred stocks without voting rights, worth a combined 150 billion won ($132.4 million). Of the total pledges with 5,000 won per share, only 30 billion won for the convertible securities purchase had been paid

Mirae Asset Global Investments, a South Korean asset management company, has harvested returns of over 20 percent a year in its stock funds dedicated to investing in innovative firms, the company said Sunday. Mirae Asset G2 Innovator Fund, investing in innovative companies in the United States, China and Taiwan, has generated some 33.02 percent of yearly returns, the highest among all Korean stock funds, according to an estimate by fund evaluator KG Zeroin on Wednesday. The secret behind the yie

US-based hedge fund Elliott Associates has officially filed for an investor-state dispute settlement against the South Korean government seeking $770 million in compensation for the merger between two Samsung Group affiliates, the Justice Ministry said Friday.Elliott submitted its application for arbitration claiming it has suffered $770 million due to “unfair” mediation by the Korean government in the process of approving the merger between Samsung C&T and Cheil Industries in 20

US financial services firms Morgan Stanley and JP Morgan said Friday that they expect the South Korean central bank to raise the base rate next month on a modest economic recovery and low inflationary pressure.In a monetary policy committee meeting on Thursday, the Bank of Korea held the benchmark policy rate unchanged at 1.5 percent, citing signs of an economic slowdown and uncertainties over global trade disputes.The BOK has maintained the accommodative stance for eight months since the 0.25 p

South Korea’s financial regulator on Thursday imposed a top-level sanction on Samsung BioLogics over a past accounting irregularity, concluding that its omission of key governance information notices was intentional, but reserved its final opinion on accounting fraud charges.The biopharmaceutical affiliate of Samsung Group is therefore to face a prosecutorial probe over the case and have its stock transactions suspended, but has so far avoided the worst scenario of being delisted.“Th

The Korea Blockchain Association on Wednesday gave a nod to the cybersecurity standards of 12 cryptocurrency exchanges in Korea, including major players such as Bithumb, Coinone, Korbit and Gopax. This came over two months after the association launched a self-regulatory inspection in May of 14 member exchanges among the total 23, upon agreement by the exchanges.Exchanges that gained self-regulatory affirmation were 12 out of 14: Dexko, Hanbitco, OKCoin Korea, Huobi Korea, Bithumb, Upbit, Neofra

The South Korean central bank is expected to hold the country's key rate at the current 1.5 percent in its upcoming monetary policy meeting amid rising uncertainties at home and abroad, market insiders said Wednesday.The Korea Financial Investment Association said that in its latest poll, 89 percent of 100 local bond traders forecast a rate freeze at the BOK meeting scheduled for Thursday.Global investment banks and credit appraisers, such as HSBC and Moody's, also expected the BOK to not move t

The Korea Herald is publishing a series of interviews on promising startups in the financial technology industry. This is the 18th installment. -- Ed.　An online crowdfunding platform is a marketplace of ideas. And equipping that marketplace with a convenient payment tool is obviously key for the involved parties -- fundraisers with an idea and backers buying into the idea.For sponsors on Tumblbug, a startup operating an online rewards-based crowdfunding platform for content creators since 2011,

The International Insurance Society has selected co-authors of “Digital Agendas in the Insurance Industry: The Importance of Comprehensive Approaches” as the winners of Shin Research Excellence Award this year, according to Kyobo Life Insurance Tuesday. Recipients of the annual award in 2018 are Alexander Bohnert and Albrecht Frizche, both professors at Friedrich-Alexander University in Germany, and Shirley Gregor, a professor at Australian National University.  The prize was gi

South Korea's tax revenue was tallied at 31 trillion won ($27.9 billion) in May, up a sharp 12.4 trillion won from a year earlier, due to carried-over corporate tax earnings, data showed Tuesday.But if corporate taxes had been collected on schedule, the country would have collected an estimated 21.4 trillion won in dues in May, up 2.9 trillion won over the cited period, the data compiled by the finance ministry showed.Income tax revenue amounted to 11.5 trillion won in May, up 1.6 trillion won f

Woori Bank has become South Korea’s first commercial bank dedicated to impact investing to create a quantifiable social and environmental impact along with financial gains. Woori Bank will invest 5 billion won ($4.5 million) into the private investment fund co-managed by Crevisse Partners and Lime Asset Management for 10 years, according to an announcement Monday. The 20 billion won impact equity fund will become Korea’s first impact investment fund, if launched in July as planned. O

This is the 58th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Aurora World Corporation, the South Korean plush toy manufacturer and supplier most-known for its global toy line “YooHoo & Friends,” is anticipating a leap forward in the second half of this year.A three-dimensional version of YooHoo & Friends computer-animated television adaption targeting 4 to 8-year-olds is set to be streamed through Netflix in the second half

Representatives from South Korean financial investment companies have discussed ways to boost ties with Indian capital market officials and to explore Korean investment opportunities in India during their four-day trip to the country.The team of representatives, composed of chief executives of three securities firms -- Daishin, IBK and Hanwha -- four asset management firms -- Samsung, Shinhan BNP Paribas, Kiwoom and Mirae Asset -- as well as Kwon Yong-won, head of the Korea Financial Investment

The Chicago Mercantile Exchange lifted its suspension of trading through Hana Financial Investment Co. ahead of schedule as of Friday, the South Korean financial entity said.In May, the CME group, the US derivatives exchange operator, barred the brokerage firm's access to its system for trading overseas futures and options for 60 days up until July 20. The US entity cited Hana's offering of incomplete and inaccurate information on account ownership and transaction rights to customers as a reason

The looming US import curbs including tariffs and quotas on South Korean goods are expected to take a toll on Korea’s economic indicators, a report showed Thursday.In the wake of regulatory measures starting this year on steel, washing machines and solar cells, Seoul is likely to see some $2.5 billion cut in exports and 16,000 potential job losses here and abroad.  According to a report released by the National Assembly Budget Office, a Korean steel import quota to the US -- equivalen