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Reporter : Lee Min-hyung
Sun, August 14, 2022 | 12:38
Exchanges, authorities discuss steps to prevent another Luna fiasco
The ruling party and the government started a two-day meeting to discuss measures to prevent the recurrence of a recent financial fiasco surrounding the once-popular Terra stablecoin and its sister token Luna. On Monday, the ruling People Power Party held an emergency seminar to come up with measures to protect cryptocurrency customers.
Korea-US summit boosts defense stocks
Korea's major defense stocks rallied Monday on hopes for more exports to the United States and other developed countries, after the two countries agreed to start negotiations on a much-anticipated joint defense procurement deal. This came in response to the first summit between President Yoon Suk-yeol and U.S. President Joe Biden last weekend. Both leaders reached a consensus...
Biden's summit with Yoon to boost chip, battery, nuclear power stocks
Stocks related with chip, battery and nuclear energy closed Friday with a gain on growing expectations for the upcoming first summit between President Yoon Suk-yeol and U.S. President Joe Biden. The benchmark KOSPI achieved a rare rally by closing at 2,639.29, up 1.81 percent from the previous day, on a buying spree by overseas and institutional investors.
Hyundai Card's IPO bid comes to temporary halt amid Fubon's stake acquisition
Hyundai Card's planned initial public offering (IPO) has come to a temporary halt after Taiwan-based Fubon Financial became one its new major shareholders, replacing a consortium led by Affinity Equity Partners, the card company said, Friday. According to Hyundai affiliate, Fubon recently purchased a 19.98-percent stake in Hyundai Card from the Affinity consortium, a previous...
Asset management firm launched led by ex-KOFIA head
The former chairman of the Korea Financial Investment Association (KOFIA) has returned to the financial industry by establishing an asset management firm. The company, named, I Trust Asset Management, was set up in December and recently started sales activities. Hwang Young-key, the former head of KOFIA, will serve as the first chairman of the new asset management firm.
Luna fiasco escalates into class action by victims
The devastated investors of Terra and Luna are moving to take class action against Do Kwon, co-founder of Terraform Labs, which developed the scandal-tainted cryptocurrencies. LKB & Partners, a Seoul-based law firm, is set to sue him and file a provisional attachment of his assets, holding him responsible for the recent crash of the two coins, the values of which have in abou...
Luna debacle casts ripple effect over Korean stocks
Luna's collapse is stoking fears of aggravating the already-downbeat stock market sentiment here, as shares of major tech and game firms have experienced severe crashes in lock-step with the abrupt demise of the controversial cryptocurrency. The sister token of controversial stablecoin UST plummeted over the past week, rattling the entire cryptocurrency market as few investor...
Woori Bank steps up ESG efforts with climate governance organization
Woori Bank has clinched a partnership with a local climate governance organization, as part of its efforts to fulfill an advanced level of environmental, social and corporate governance (ESG) activities, the lender said Wednesday. Under the tie-up with the Korea Climate & Environment Network, the bank will carry out a series of joint projects on ESG. They include a social con...
[INTERVIEW] Time to go back to corporation-driven growth: economist
The new government headed by President Yoon Suk-yeol should roll back a complex set of corporate rules, in order to allow big companies to expand investment and create more quality jobs, which a Singapore-based economist said will serve as a basis for overall economic growth here. “The top priority is to build an environment where corporations can do business freely with redu...
Shinhan, Google team up for smart city
Shinhan Financial Group will team up with Google in a startup accelerating program to support those engaged in smart city businesses, the financial holding company said Tuesday. Companies with innovative technologies in the four areas of smart living, city infrastructure, the sustainable city and the biotech industry or digital health will apply for the program, according to ...
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