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Sat, June 3, 2023 | 06:32
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.
FSS to investigate Kiwoom Securities for stock manipulation
Korea's top financial watchdog has launched an investigation into Kiwoom Securities to look into whether the company engaged in unfair sales of a contract for difference (CFD). The risky leveraged derivative is considered to have driven the latest stock manipulation scandal which incurred combined losses of around 8 trillion won within only four days late last month.
Korea, ADB to establish climate tech hub in Seoul
The Korean government and the Asian Development Bank (ADB) have agreed to establish a climate technology hub in Seoul. The facility will serve as a climate think tank for both sides to drive major climate agenda items internationally.
Hana supports football for disabled people
Hana Financial Group has launched a social program for disabled people to enjoy football, enabling them to receive training and play matches under partnerships with professional sports teams.
Legal tussle escalates over suspicious stock selling scandal
Two figures involved in the latest stock manipulation scandal are escalating ensuing legal battles and claiming innocence regarding the abrupt collapse of eight listed shares here.
Kiwoom chief comes under fire for suspicious stock sales
Daou Kiwoom Group Chairman Kim Ik-rae has angered investors with his suspicious sales of Daou Data shares, shortly before the stock's abrupt decline. It remains unclear whether Kim is involved in the escalating stock scandal surrounding eight companies that experienced plummeting stock prices for no apparent reason.
Hana's football club goes carbon-neutral
Hana Financial Group's football club - Daejeon Hana Citizen - has pledged to achieve carbon neutrality during its upcoming home matches and make public its efforts to go net-zero at the end of the season.
Korea takes first step toward institutionalizing crypto assets
Korea has taken its first step toward institutionalizing crypto assets, after a committee at the National Assembly approved an act focusing on the protection of crypto investors.
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