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Tue, November 29, 2022 | 17:35

Gov't faces mounting criticism for inaction in early phase of credit crunch crisis

Gov't faces mounting criticism for inaction in early phase of credit crunch crisis

Although the local financial industry greeted the government's decision on Sunday to provide over 50 trillion won ($35 billion) in liquidity to address a mounting credit crunch in the corporate bond and commercial paper (CP) markets, the country's financial authorities could face mounting criticism for failing to take measures sooner to address the problem.

Anna J. Park | 2022-10-24 16:57

Legoland crisis pushes BOK into dilemma

Construction, securities shares on rollercoaster ride

Construction, securities shares on rollercoaster ride

Shares of construction and securities firms have been on a rollercoaster ride amid fears of a liquidity crunch triggered by their poor management of real estate project financing. According to data from the Korea Exchange, construction sector shares extended their biggest fall of 5.12 percent last week on growing risks of defaults amid freezing investor sentiment in the real ...

Lee Min-hyung | 2022-10-24 16:56

KRX to hold joint IR session of KONEX listed firms

KRX to hold joint IR session of KONEX listed firms

Businesses listed on the KONEX market will hold a joint IR session on Oct. 26, the country's bourse operator, Korea Exchange (KRX), said Friday. The IR session will be held in conjunction with the Korea Investors Relations Service and KONEX Association, which is comprised of companies listed on the small businesses-focused KONEX market.

2022-10-22 09:00

Won weakens for 3rd straight session amid yen's tumble, lackluster trade data

Won weakens for 3rd straight session amid yen's tumble, lackluster trade data

The South Korean currency weakened against the U.S. dollar for the third straight session on Friday as major currencies continued to lose ground and gloomy trade data suggested worsening headwinds for the country's export-dependent economy.

2022-10-21 20:43

Korea taking steps over default of Legoland theme park financing: finance minister

Korea taking steps over default of Legoland theme park financing: finance minister

Finance Minister Choo Kyung-ho said Friday that the government is taking "necessary measures" regarding a default in project financing for the construction of the Legoland amusement part in Gangwon Province.

2022-10-21 16:27

FSS to crack down on malicious market rumors

FSS to crack down on malicious market rumors

The Financial Supervisory Service (FSS) plans to tighten up inspections and punishments related to the spreading of groundless or malicious market rumors. The watchdog agency will jointly cooperate with the Korea Exchange (KRX) in the crackdown. The move comes as an attempt to stabilize local financial markets, as numerous rumors have been spreading fast online, amid growing ...

Anna J. Park | 2022-10-20 17:03

Default of Legoland project financing feared to jolt financial markets

Default of Legoland project financing feared to jolt financial markets

As uncertainties stemming from a default in project financing (PF) for the construction of a Legoland amusement park in Gangwon Province add to woes in the domestic bond market, Korea's top financial regulator said it will inject 1.6 trillion won ($1.1 billion) into the debt market, while ensuring additional liquidity to cover short-term loans.

Anna J. Park | 2022-10-20 17:00

Major unlisted stocks plunge amid rate hikes, capital outflow

Major unlisted stocks plunge amid rate hikes, capital outflow

Once-promising unlisted stocks have extended sharp declines this year amid ever-growing fears of further rate hikes and capital outflow from the local stock market here. According to data from Dunamu's Stock Plus, an unlisted stock trading platform, most large-cap unlisted stocks suffered double-digit declines in their stock price and market capitalization in 2022.

Lee Min-hyung | 2022-10-20 16:49

Short-selling of Korean shares reaches peak since early pandemic

Short-selling of Korean shares reaches peak since early pandemic

More investors have capitalized on the short-selling of Korean shares at the fastest pace since the early phase of the COVID-19 pandemic in March 2020, in what is seen by many as a sign of a further stock fall going forward. According to data from the Korea Exchange, the portion of short-selling on the KOSPI 200 index reached 10.54 percent on average during the four trading d...

Lee Min-hyung | 2022-10-19 16:36

Korea's sovereign wealth fund posts $28.4 bil. loss this year

Korea's sovereign wealth fund posts $28.4 bil. loss this year

Korea's sovereign fund posted $28.4 billion in losses in the first eight months of this year as global stock and bond markets suffered turmoil, and the fast-weakening local currency resulted in a decline in the valuation of its offshore holdings, its chief said Wednesday.

2022-10-19 13:45

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