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Reporter : Lee Min-hyung
Sun, December 3, 2023 | 04:05
Terraform Labs co-founders ready for legal battle despite escalating public ire
Scandal-tainted Terraform Labs' co-founders - Kwon Do-hyung, better known as Do Kwon, and Shin Hyun-seong - are poised to engage in an all-out legal fight against criminal charges regarding the abrupt collapse of the firm's once-promising Luna coin. Both men have displayed a strong will to “prove their innocence” with their legal representatives. They have refrained from show...
Deficit widens for banks' crypto custody business on market slowdown
Four major lenders ― KB, Shinhan, Woori and NongHyup ― are experiencing widening losses in their investments in crypto custody business operators, hit by the market's abrupt slump over the past two years, data showed Thursday.
Buy now, pay later delinquency rates rise
The delinquency rate of “buy now, pay later” (BNPL) services offered by the nation's three big tech firms - Naver Financial, Kakao Pay and Viva Republica - is on a sharp rise due to the economic slump and prolonged high interest rates, data showed Thursday.
SG debacle's combined losses amount to 8 trillion won
The latest stock scandal, sparked by the abrupt fall of eight listed shares here, is estimated to have incurred a combined loss of more than 8 trillion won ($6.04 billion), affecting mostly retail investors, according to data released by Rep. Yun Chang-hyun's office, Wednesday.
Government remains ambiguous on short selling
The Yoon Suk Yeol administration, which marked its first year in office on Wednesday, is still leaving much to be desired regarding its lack of policy consistency on the controversial resumption of short selling.
Scandal-tainted lawmaker faces criticism for crypto profits from legal blind spot
Rep. Kim Nam-kuk of the main opposition Democratic Party of Korea (DPK) is being criticized for suspicious crypto trading worth 6 billion won ($4.54 million). Kim is suspected of cashing out his crypto ...
MZ Generation leads Apple Pay boom
Those born in the early 1980s and 2000s ― often dubbed the MZ Generation ― have driven the popularity of Apple Pay for the past month following its belated launch here, data from Hyundai Card showed. Hyundai Card said it issued 355,000 new cards after the arrival of Apple Pay on March 21, up 156 percent from a year earlier. Hyundai Card is an exclusive card partner here for t...
Kiwoom chief's resignation casts ripple effect on other major shareholders
Deteriorating public sentiment toward Kiwoom Securities is showing no signs of letting up, even after its former Chairman Kim Ik-rae resigned for his alleged involvement in a nationwide stock manipulation scandal. Kim made the abrupt announcement Thursday afternoon and decided to donate all of his gains worth 60.5 billion won following his suspicious sell-off of 1.4 million D...
Korea-US interest gap widens to record high
The interest rate gap between Korea and the United States has risen to a historic high of 1.75 percentage points following the U.S. Federal Reserve's unanimous decision to increase interest rates by a quarter percentage point to a range of 5 to 5.25 percent. This increases pressure on the Korean economy amid concerns of an exodus of foreign capital in search of higher returns...
Hana Securities CEO eyes winning super-large investment bank status
Hana Securities President and CEO Kang Seong-muk is endeavoring to help the brokerage house win the status of a super-large investment bank here. The company recently submitted an application to the Financial Supervisory Service (FSS), and if the watchdog grants approval, the Hana affiliate will become the nation's sixth securities firm with the title.