South Korea Financial News

The South Korean central bank (BOK) has published its 2022 Payment and Settlement Systems Report. Oversight of the systems was carried out successfully, the report said, and it is getting ready for a future with central bank digital currency (CBDC) and is discussing stablecoin regulation broadly.

K-pop music label that brought the world hit boy group BTS are using artificial intelligence to meld a South Korean singer's voice with those of native speakers in five other languages. The technology enabled HYBE, South Korea's largest music label, to release a track by singer MIDNATT in six languages — Korean, English, Spanish, Chinese, Japanese and Vietnamese in May.

Funding of Web3 firms from venture capitalists has dropped 76% in the second quarter this year as compared to the same quarter in 2022, Crunchbase data revealed. 

Semiconductors have become the unsung heroes of the digital age. They silently power the devices that have become essential to our lives. These tiny wonders are the backbone of everything from smartphones, computers, advanced medical equipment, and transportation systems.

The South Korean commercial banking giant Shinhan Bank completed an EMV-compatible feasibility test for stablecoin remittance payments on the Hedera network. 

Associated Press (AP), despite North Korea test-firing short-range missiles as a display of weapons, there was no information regarding the fate of Private 2nd Class Travis King, who was detained in North Korea. It is important to note that the missile launches were believed to be a protest against the deployment of a US nuclear-armed submarine in South Korea and were likely unrelated to King's border crossing. “It’s likely that North Korea will use the soldier for propaganda purposes in the short term and then as a bargaining chip in the mid-to-long term," said Yang Moo-jin, president of the University of North Korean Studies in South Korea.

Investing.com-- Most Asian currencies fell on Wednesday as the dollar rebounded from 15-month lows, with recent U.S. data spurring more bets that the Federal Reserve was close to pausing its rate hike cycle.

King had served around two months in a South Korean jail on assault charges was believed to be in North Korean custody on Wednesday after crossing the heavily fortified border without authorisation, officials told AFP. King, 23, was a cavalry scout with the 1st Armored Division who had served nearly two months in a South Korean prison for assault. He was released on July 10 and was being sent home Monday to Fort Bliss, Texas, where he could have faced additional military discipline and discharge from the service.

Asia's stock markets were mixed on Wednesday with growth concerns dragging on China's equities while shares gained in Japan and Australia after healthy U.S. company earnings and retail data added to hopes that a recession there can be avoided. Dovish remarks from a European Central Bank policymaker boosted bonds and dragged the euro lower.

top ten companies to watch out today, L&T Finance Holdings, Bank of Maharashtra, Hatsun Agro Products, Finolex Industries, Can Fin Homes, Century Textiles and Industries, Alok Industries, Mastek, Tata Communications, Tata Coffee will be in focus as they report June quarter earnings on Wednesday.Asian equity markets witnessed an upward trend as stocks followed the rally from the US market, while the New Zealand dollar appreciated due to moderating inflation.Markets in Japan, South Korea, and Australia saw a rise in stocks at the opening of the trading session. However, futures for Hong Kong stocks showed a downward trend, while those for the US remained largely stable.

airport, he was left alone to fly to Fort Bliss, Texas, to receive the separation notice. North Korea fired two short-range ballistic missiles into the East Sea a day after the inaugural session of the US-South Korea security dialogue, according to Seoul's military as reported by Yonhap news agency.  The Joint Chiefs of Staff (JCS) of South Korea stated that the missiles were launched from the Sunan area in Pyongyang and traveled around 550 kilometers before landing in the sea.  The JCS strongly denounced these launches as "acts of significant provocation" that not only threaten peace on the Korean Peninsula but also the international community.

retail sales rose less than expected in June on a fall in building materials and service station receipts. In Asia, according to the Reuters Tankan survey, which measures confidence among large Japanese companies, business sentiment among manufacturers in Japan declined for the first time in six months in July. Also Read: Day trading guide for today: Six buy or sell stocks on Wednesday - July 19 Japan’s Nikkei 225 gained 1% and the Topix rose 0.94%.

North Korea has fired two short-range ballistic missiles into the sea, Yonhap news agency reported Wednesday, hours after an American nuclear-armed submarine made its first South Korean port call in decades. The launch was reported by South Korea's Joint Chiefs of Staff (JCS), according to Yonhap, who said they were fired early Wednesday from the Sunan area in Pyongyang, and flew some 550 kilometres (340 miles) before splashing into the East Sea, also known as the Sea of Japan. The JCS condemned the launches as «acts of significant provocation» and a clear violation of UN Security Council resolutions.

South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

US soldier has crossed the inter-Korean border into North Korea, citing two US officials. One of the officials said the soldier was believed to be in North Korean custody. The officials did not immediately offer further information.

North Korea without authorisation while the US national was on a tour to the Korean border village of Panmunjom.  The tweet mentioned that he is currently in North Korean custody and that the UN Command is working with its North Korean counterparts to resolve the incident. It gave no further details on who the person is or why he crossed the border. The last time there was a defection at the Joint Security Area was in 2017, when a North Korean soldier drove a military jeep then ran on foot across the demarcation line at Panmunjom.

North Korean women often cross the border into China. Unfortunately, their hopes are shattered as they encounter even less freedom and live in constant fear of deportation. Without legal identification, these women are unable to work and become vulnerable to human trafficking, sexual violence, and other crimes. Many end up marrying Chinese citizens out of necessity or coercion by marriage brokers. Defectors spend time in China before finally arriving in South Korea. Women are told by their brokers that marrying a Chinese man was crucial for survival, so they comply. Eventually, the opportunity arise for them to leave for South Korea, their ultimate destination. However, many defectors who were born in North Korea and then escaped to South Korea are not eligible for benefits designated for North Koreans, such as special college admissions and vocational training.

Also read: Global weather alert: Heatwave engulfs US, Europe, Japan while floods wreak havoc in India and South Korea The prolonged extreme heat poses challenges to communities, with the international charitable organisation Salvation Army has been providing relief to individuals through cooling centres and mobile outreach for homeless. Scientists warn that climate change, caused by CO2 emissions from burning fossil fuels, intensifies heatwaves and urges governments to take drastic actions to prevent a climate catastrophe. Also read: US heatwave: Record high temperature in California, Florida, Las Vegas.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — 18th July Japan’s Nikkei 225 rose 0.81% and the Topix gained 0.76%. South Korea’s Kospi eased marginally, while the Kosdaq rose 0.76%. Hong Kong’s Hang Seng index futures were around 35 points higher at 19,450.

The July 13 ruling on the suit filed by the United States Securities and Exchange Commission (SEC) has led to unprecedented interest in the XRP token. In the few days since the court decision, a jump in XRP (XRP) trading has seen it surpass all other cryptos in monthly volume, according to Kaiko.