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Reporter : Lee Min-hyung
Sat, June 3, 2023 | 07:19
NPS offsets losses from US banking crisis through tech share investment
The National Pension Service (NPS) sold all its shares in the now-collapsed Silicon Valley Bank (SVB) and First Republic Bank, but succeeded in offsetting losses by generating decent revenues from major U.S. tech stock investments, data showed Monday. According to a report the NPS submitted to the U.S. Securities and Exchange Commission (SEC), Korea's state-run pension fund e...
Naver, Kakao stocks display contrasting performances due to earnings forecasts
Shares of Naver and Kakao - two of the nation's biggest digital platform companies - have seen their respective stock prices move in contrasting directions due to their earnings forecasts.
FSS signs partnership with Indonesian counterpart on employee exchange
Korea's Financial Supervisory Service (FSS) has joined hands with its Indonesian counterpart over launching an employee exchange program, with a view to expanding Korean financial firms' footing in the Southeast Asian country. The partnership was clinched on May 12 during FSS Governor Lee Bok-hyun's visit to the country. Under the agreement with Indonesia's Otoritas Jasa Keua...
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...
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