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Reporter : Lee Min-hyung
Tue, November 29, 2022 | 16:54
KDB union pledges legal action against relocation
The union of Korea Development Bank (KDB) has pledged to take legal measures against the state-run lender's move to relocate its headquarters to the nation's southeastern port city of Busan. According to the KDB union, Monday, the lender plans to carry out an organizational reshuffle by creating three new divisions in Busan where 100 employees and executives from the head off...
Wemade chief faces censure amid stock fall
Wemade CEO Chang Hyun-guk came under mounting criticism from investors after the game publisher's stock plummeted in the aftermath of a shocking delisting of its Wemix coin from Korea's four major crypto exchanges. According to data from the Korea Exchange, Wemade shares went on a losing streak on Monday after its price closed with a drop of 29.89 percent on the previous trad...
Suhyup Bank's first-ever female leader takes office
Suhyup Bank's first female CEO, Kang Shin-sook, took office as the new leader of the fisheries cooperative's banking arm, Friday. She presented five core management goals after being inaugurated to the position. They include stable revenue generation, preemptive risk management, agile digital transformation, future-oriented organizational reform and enhanced support of fisher...
K bank's reliability called into question over system error
K bank is facing questions from customers about its reliability after its service was unavailable for around seven hours from Thursday afternoon due to a server storage problem. The internet-only lender restarted its mobile app's service from at 4 a.m. Friday. But users stepped up criticism of the company because it failed to give any specific notice or update about the disru...
FTX crash to have limited impact on Korea's financial market: analysts
The collapse of once-renowned global crypto exchange, FTX, is unlikely to deal a severe blow to the overall financial market in Korea, as the crypto market meltdown sparked by the bankruptcy does not have direct links to conventional financial systems, market analysts said. The fallout of FTX's sudden collapse is making headlines here and abroad amid heightened fears of a pos...
Korbit discloses crypto holdings amid FTX debacle
Korbit, one of the crypto exchanges in Korea, decided Wednesday to publicly disclose its cryptocurrency holdings, as part of efforts to win back investor confidence in the wake of Bahamas-based crypto exchange FTX's abrupt bankruptcy. Customers can check the details of Korbit's crypto holdings, including the amount and kind of virtual coins as well as its wallet address, acco...
Korea's growth stocks, ETFs bounce back amid diminished rate hike fears
Korea's growth stocks and exchange-traded funds (ETFs) are headed for a rebound amid reviving investor confidence driven by growing hopes for the end of the U.S. Federal Reserve's rate hike cycle. According to data from the Korea Exchange, most growth-related ETFs have enjoyed a double-digit rally for the past month. The TIGER KRX BBIG K-New Deal Leverage ETF jumped by 45.44 ...
FTX's collapse comes as wakeup call for crypto exchanges to reduce commission reliance
The unexpected insolvency of the once-high-profile cryptocurrency exchange, FTX, comes as a wake-up call for its Korean counterparts to reduce their excessive reliance on trading commission profits and diversify their revenue structures. This situation comes amid investors' growing skepticism about the entire industry, after some seemingly undefeatable market players collapse...
Meritz set to shake up old rivalry in securities industry
Meritz Securities is set to emerge as the nation's most profitable brokerage firm this year, breaking through the long-standing leadership rivalry between Mirae Asset Securities and Korea Investment & Securities. Meritz is forecast to achieve record earnings of more than 1 trillion won ($754.9 million) in operating profit in 2022, according to market tracker FnGuide.
Korean crypto stocks plunge amid FTX bankruptcy
The meltdown of FTX has triggered a chain reaction in Korea's cryptocurrency-linked stocks, which saw their values plummet on the first trading day after one of the world's largest crypto exchanges filed for bankruptcy. Shares of Com2uS, a game developer which listed its C2X token on the exchange in March, suffered a double-digit decline on Monday, dipping to a new eight-year...
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