South Korea Financial News

The South Korean city of Cheongju, the capital of North Chungcheong province, has said it intends to begin confiscating cryptocurrency from local tax delinquents.

Adani Enterprises, Adani Power, Paytm, Tata Power, Union Bank of India are among stocks that will be in focus in today's trade.Asian equities ticked higher on Tuesday following the overnight rally in big tech that spurred a rebound in Wall Street stocks, though elevated Treasury yields kept risk sentiment in check.Tokyo stocks opened higher, with the benchmark Nikkei 225 index adding 0.92% in early trade, while the broader Topix index rose 0.71%. Shares advanced in South Korea as well, and Hong Kong stocks opened slightly higher after seven successive losses.Financial stocks may be under pressure after S&P Global Ratings downgraded the ratings of five US lenders on “tough" environment amid higher interest rates.Overnight on the Wall Street, The S&P 500 rose 30.06 points to 4,399.77 for its first gain in five days.

Indian stock market is expected to open on a flat note on Tuesday following gains in Asian peers amid mixed global cues. The Asian markets traded mostly higher, while the US stocks ended mixed overnight, even as the treasury yields soared to 15-year high levels. On Monday, domestic equity indices, Sensex and Nifty ended with decent gains, snapping a two day losing streak.

'Netflex Your OTT Muscles', by V Sridhar, Rohit Prasad and Mansi Kedia. In the piece, the authors argued that OTTs that are large traffic generators (LTGs) should pay a fee to telecom companies for the capex investment they make to support the traffic generated by OTT video services. The arguments to justify this, unfortunately, included various alternative facts and some misplaced theories, and are flawed for several reasons. Customers are paying telcos data charges for watching OTT platforms. Isn't the value of the telecom service linked to the demand for OTT apps, and if these are taken off, would customers stick to a particular network? OTTs are being told that the fee is a fair share of the capex investment in the network.

Sei Network represents a layer-1 blockchain constructed using the Cosmos SDK framework, designed specifically for high-frequency trading applications, providing swifter transaction speeds compared to platforms like Solana. SEI is a coin that aims to create a decentralized ecosystem for social media influencers and content creators. SEI allows users to monetize their content, interact with their fans, and access various services and products.

By Jeslyn Lerh and Jacob Gronholt-Pedersen

rupee is within a whisker of a record low, but it’s still a favored emerging-market currency with some investors. A reserves stockpile of $600 billion, more than $16 billion worth of foreign inflows for stocks this year and economic growth forecast at 6.5% are among the reasons behind the optimism for Neuberger Berman Singapore and Columbia Threadneedle Investments. “The reserve number is very comfortable right now,” said Prashant Singh, senior portfolio manager for emerging-markets debt at Neuberger Berman Singapore, who favors the rupee.

Indian stock market is expected to open on a flat note Monday following mixed global cues. The domestic benchmark equity indices ended lower for the fourth consecutive week, the longest stretch of weekly declines in over a year. A sharp spike in domestic retail inflation, weak industrial production for June, worries over likely another interest rate hike by the US Federal Reserve, depreciation in rupee against US dollar, FII outflow, rising US bond yields and slowing China’s economy weighed on investors sentiment.

A South Korean man has been handed a suspended jail term of almost three years after he was found guilty of armed robbery “to clear a crypto debt.”

IT hardware industry is increasingly concerned about what could be New Delhi’s definition of “trusted hardware”, with the Centre stressing that imposition of import curbs on laptops, tablets and servers is primarily due to national security reasons. Industry executives say that while the government has been successful in restricting Chinese players Huawei and ZTE from participating in India’s 5G rollout after adoption of the “trusted sources” approach, replicating the same for IT hardware won’t be feasible. That’s because unlike telecom equipment, laptops/tablets are consumer devices. More importantly, more than 80% of the market is controlled by non-Chinese firms belonging to the US, Japan, South Korea and Taiwan, which are already trusted trade partners of India, said industry executives. Lenovo is the only Chinese firm. Under India’s new rules for security of mobile networks, telcos are mandated to buy network equipment only from entities labelled by the National Cyber Security Coordinator as a ‘trusted source’ and product designated as a ‘trusted’ one.

The country’s busiest airport has blasted Qantas and Virgin Australia for wasting capacity, saying a lack of seats, rather than lack of demand is limiting domestic passenger traffic.

Chinese smartphone company operated from a small room in Bengaluru. The brand was mostly unfamiliar to Indians and Jain spent time and effort helping people pronounce the name as it should be. “Shao-mee", Jain told one of the writers of this story, a few months after he had joined.

semiconductors and electronics in the one year since President Joe Biden signed off on a law that promotes the sector. In June, US-based Intel said it would invest $33 billion in Germany to expand in Europe. The number of semiconductor fabs processing 300-mm wafers globally is projected to jump from 138 in 2020 to 180 in 2023 and 233 in 2027.

paperboard surged by 39 per cent at 409,000 tonnes in the first quarter of 2023-24 against 294,000 tonnes in the year-ago quarter, according to an industry body. In value terms, imports rose by 28 per cent to Rs 3,153 crore in the first quarter of FY2023-24 compared to the year-ago period, Indian Paper Manufacturers Association said citing Directorate General of Commercial Intelligence and Statistics data. The surge in imports comes on the back of a 25 per cent increase in paper and paperboard imports in FY2022-23 over the previous fiscal, according to the official trade data. In FY23, paper and paperboard worth Rs 12,531 crore were imported. In the April-June period of FY24, imports from ASEAN jumped nearly three-fold and from China by 37 per cent in volume terms. Imports of all grades of paper accelerated in the first quarter with the highest jump of 214 per cent seen in imports of uncoated writing & printing paper, 28 per cent in coated paper and paperboard, 15 per cent in kraft paper and 65 per cent in tissue paper imports. The top import sources of uncoated writing & printing paper are Indonesia, Singapore and China. The top import sources of coated paper and paperboard are China, Japan and South Korea, the Indian Paper Manufacturers Association stated in a statement.

Fumio Kishida made a brief visit to the tsunami-wrecked Fukushima nuclear plant on Sunday to highlight the safety of an impending release of treated radioactive wastewater into the Pacific Ocean, a divisive plan that his government wants to start soon despite protests at home and abroad. His trip comes hours after he returned home Saturday from a summit with U.S.

An American-owned oil tanker long suspected of carrying sanctioned Iranian crude oil has begun offloading its cargo near Texas

Japanese Prime Minister Fumio Kishida will make a brief visit to the tsunami-wrecked Fukushima nuclear plant on Sunday to highlight the safety of an impending release of treated radioactive wastewater into the sea, a divisive plan that his government w...

Japanese Prime Minister Fumio Kishida says he will visit the tsunami-wrecked Fukushima nuclear plant on Sunday before setting a release date for its treated radioactive wastewater, as his government continues working to promote understanding over the c...

alliance to bolster security. President Biden hosted South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida at Camp David, in the first visit by foreign leaders to the presidential retreat since 2015. The three committed to consulting on threats to each’s security, working together on ballistic-missile defense, conducting annual joint military exercises and holding yearly summits to maintain the momentum.

Atlas Organization founder Jonathan D.T. Ward discusses the Biden administration announcing new tariffs on food can metal from China, U.S. officials' trips to Beijing, the Camp David summit and the adversary's rising aggression.

alliance which read, “Japan, the Republic of Korea, and the United States are determined to align our collective efforts because we believe our trilateral partnership advances the security and prosperity of all our people, the region, and the world." The three nations expressed commitment to expanding cooperation trilaterally and raising shared ambition to a new horizon across domains and across the Indo-Pacific and beyond. CHINA'S 'DANGEROUS AND AGGRESSIVE' ACTIONS: They issued a sharply worded joint statement about Beijing's actions in the South China Sea.