City Seoul Financial News

While the world’s eyes were fixed on the unfolding horrors of the latest Middle East war, China was busy pushing the envelope in the South China Sea. On Sunday, a Chinese coast guard vessel and another Chinese ship rammed a Philippine supply boat and coast guard ship in international waters claimed by China around the Spratly Islands. The State Department gravely noted that the Chinese actions “violated international law," but China appears unimpressed.

South Korea’s early exports returned to growth for the first time in more than a year in another indication of recovering external demand that will offer some reassurance to investors and policymakers monitoring the health of global commerce. Daily average shipments for the first 20 days of October increased 8.6% from a year earlier in the first gain since September last year, according to data released Monday from the customs office. The increase is a positive indication that world trade is starting to regain strength after a global slowdown. South Korea releases its data earlier than many economies and due to its key position in global supply chains and the tech sector, its export figures are watched closely to get an early take on the trajectory of world trade.

SEOUL—Russia said it supports holding regular security talks with North Korea and China to address the threat posed by the U.S. on the Korean Peninsula, as Moscow draws closer to its partners and attempts to counter Western isolation. Russian Foreign Minister Sergei Lavrov backed the idea during his two-day trip to North Korea that ended Thursday, according to Russian state media.

Shares have tumbled in Asia following a retreat on Wall Street after big U.S. companies delivered mixed profit reports and Treasury yields added pressure on stocks

South Korean prosecutors have requested the death penalty for four suspects in a crypto murder-kidnap case that saw a woman abducted and murdered for her crypto holdings.

flip phones is brewing in the Indian smartphone market sweepstakes. Emulating Samsung, Chinese smartphone brands are launching innovative flip phones to target affluent customers, opening more premium pastures for the brands to operate in. While Samsung still leads in terms of sales, Chinese brands such as Tecno, Oppo, and Motorola have joined the fight with their own interpretations of a flip phone.

SEOUL (Reuters) — South Korea's stock market watchdog said on Sunday it found two Hong Kong-based investment banks had engaged in naked short-selling, which would likely result in record fines.

South Korean prosecutors will launch a “full-scale investigation” into the former CEO of the tech powerhouse Kakao over crypto “embezzlement” claims.

SEOUL (Reuters) — South Korea's household borrowing grew in September for a sixth straight month, but by a smaller amount than the month before, central bank data showed on Thursday.

Asian markets posted gains Friday, shrugging off Wall Street losses ahead of key US jobs data due later in the day. Analysts say signs of a robust American economy, such as strong labour market data this week, are bad news for equities as it gives the Federal Reserve more reason to keep monetary policy tight through to the end of the year and beyond. US Treasury yields hit their highest levels since 2007 this week as investors fear high borrowing costs for businesses and consumers will eventually drag on the economy. All eyes are on Friday's monthly US employment data, which will give investors a good idea of whether recent signs of a softening in the labour market will continue. «European markets look set to open modestly higher ahead of today's US jobs report,» said Michael Hewson, chief market analyst at CMC Markets UK, «which, along with the September CPI report which is due next week could shift the odds significantly on whether we see another rate hike in November». «One other reason for the welcome retreat in yields yesterday may well have been the sharp decline in oil prices we've seen the past couple of days.» On Thursday, the Dow Jones Industrial Average finished flat, while the S&P 500 and Nasdaq index ticked lower. But Hong Kong was on the front foot Friday, with gains of about 1.5 percent by the afternoon, though Tokyo closed marginally lower. Singapore, Seoul and Manila were also up, while mainland Chinese markets were closed for a week-long holiday. London, Frankfurt and Paris all kicked off with small gains. Stephen Innes, managing partner at SPI Asset Management, said the Asian advances were «thanks partly to a drop in oil prices that benefits Asia's colossal oil-importing nations». «This

Tokyo's Shibuya district is calling on Halloween revelers to stay away from the area this year, citing fears of overcrowding and potential safety hazards similar to last year's tragic incident in Seoul's Itaewon district.

SEOUL (Reuters) — South Korea's central bank governor said there was a high possibility interest rates would stay higher for longer and there was a need to improve the system to better supply liquidity in case of unexpected financial instability.

Japan is aiming to become a crypto and Web3 “powerhouse,” South Korean analysts and experts believe – but some think Seoul still has what it takes to surpass Tokyo.

SEOUL (Reuters) — South Korea's factory output unexpectedly jumped in August by the fastest rate in more than three years, official data showed on Wednesday.

Shares are higher in Europe after a mixed day of sparse trading in Asia, where many markets were closed for public holidays

A South Korean court has jailed a former senior executive of the crypto trading platform Coinone for taking bribes in exchange for listing altcoins.

South Korean entertainment and events company Dreamus, a subsidiary of SK Planet, is breaking into blockchain by offering NFT ticketing services through its parent company’s rewards app.

SAG Actors. The film festival will hold a 'Special Program in Focus: Korean Diasporic Cinema'. It will screen six films, and organize public talk sessions that include Oscar-winning actor Youn Yuh-jung, Lee Isaac Chung, director of the Oscar-winning film 'Minari', and John Cho, the Seoul-born Star Trek' and 'Searching' stars. Chon, Yeun and Yoo Teo, director of Sundance sensation 'Past Lives', Han Yeri and Christina Oh will join them.

Reuters reported. The meeting will involve senior officials at the deputy ministerial level from South Korea, Japan, and China.

By Heekyong Yang

Australia has lost its reputation for being at the cutting edge of financial markets technology, and its restoration requires the ASX to face more competitive pressures and for regulators to encourage blockchain’s homegrown adoption.