South Korea Financial News

The South Korean Supreme Court has upheld a guilty verdict for a group of former Coinone crypto exchange employees who took bribes to list altcoins on the platform.

Gautam Adani is looking to start building ships at the group's flagship port at Mundra, also the country's largest, as yards in top nations such as China, South Korea and Japan are booked out until at least 2028, forcing global fleet owners to look at alternate manufacturing sites including India for new vessels. This fits in with India's ambitious bid to become a top 10 shipbuilder as per the Maritime India Vision 2030 and move into the top five by 2047 as detailed in the Maritime Amrit Kaal Vision. India is currently ranked 20th in the world commercial shipbuilding market with a marginal share of 0.05%. Indian-owned and flagged ships account for about 5% of the total overseas cargo-carrying requirements of the country. Adani's previously unreported shipbuilding scheme is tucked away in the ₹45,000 crore expansion plan for Mundra Port that received environmental and coastal regulation zone clearance recently, according to the minutes of the Expert Appraisal Committee (EAC) attached to the ministry of environment, forest and climate change, which approved the proposal May 15.

interest-rate cuts after Jerome Powell cited signals that the US is back on a disinflationary path. Equity benchmarks climbed in Japan, Australia and South Korea, while futures for Hong Kong stocks pointed to a positive start. Contracts for the S&P 500 edged lower after the benchmark closed above 5,500 for the first time — the gauge’s 32nd record this year — to extend a blistering rally that has left analysts scrambling to update their targets. Tesla Inc. surged 10% to lead gains in megacaps, helping the Nasdaq 100 close above the 20,000 mark for the first time.

Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States

North Korea test-fired two ballistic missile Monday, South Korea's military said, a day after the North vowed «offensive and overwhelming» responses to a new US military drill with South Korea and Japan. The Joint Chiefs of Staff said the missiles were launched 10 minutes apart in a northeastern direction from the town of Jangyon in southeastern North Korea.

North Korea denounced on Sunday joint military drills by South Korea, Japan and the United States, calling them an «Asian version of NATO» and warning of «fatal consequences».

Thailand’s plan to increase scrutiny on high-frequency trades — in effect from Monday — follows steps from China, where programmed trading will soon be subject to real-time monitoring. While authorities expect the moves to enhance transparency, the growing control over certain trades has raised concern that liquidity may tighten and make those markets overall less attractive.

The Acolyte Season 2 from Disney, showrunner Leslye Headland has hinted at intriguing possibilities for the future of the Star Wars series. Despite the official status of the next season still pending, Headland has already begun envisioning the potential mysteries and plot developments that could unfold.

South Korea Ministry of Unification has said that public executions in North Korea are on the rise. This has yet again highlighted the absolute disregard for human rights by the hermit kingdom. This report is the second annual report which has been prepared based on the testimonies of defectors from North Korea. The laws are vague and people get executed for even petty crimes. The country has in recent times, actively sought to curb cultural influence emanating from its southern neighbor. One recent public execution was that of a 22-year-old in the South Hwanghae province in 2022. His only crime was listening to 70 South Korean songs and sharing three movies.

Japan has never seen so many tourists flood into the country so quickly. The yen’s historic collapse, meaning a cheaper traveling experience for those with tourist dollars to spend, coupled with the post-pandemic surge in global tourism, has sparked interest in the nation like never before. More than 14.5 million people arrived in the country in the first five months of this year, according to the Japan National Tourism Organization’s latest figures. That’s 70% up on the same period last year, and on track to beat 2019’s record 31 million visitors.

Netflix has announced a new live-action series, Soul Mate, which explores a 10-year romance between a Korean man and a Japanese man. This series is part of Netflix's expansion into Japanese content.

South Korean experts think the dangers of crypto pump and dumps remain, and argue that an AI-powered “prior detection system” would protect investors.

Sensex jumped 568.93 points, or 0.72%, to close at 79,243.18, while the Nifty 50 settled 175.70 points, or 0.74%, higher at 24,044.50.“The upmove in the markets has been gradual so far (except for the last 4 days) as participants are wary of the high valuations. They are also afraid of a sharp bout of profit taking which has not happened so far.

SEOUL : North Korea said it had successfully tested technology for raining down multiple nuclear warheads at once—a top weapons goal for Kim Jong Un and an increased threat to the U.S. and its allies. But, in an unusually pointed rebuke, South Korea denounced the self-declared achievement as a bluff.

South Korean venture capital firm Hashed Ventures is expanding its operations to Abu Dhabi in a new partnership with the region’s global tech ecosystem.

South Korea, the United States and Japan kicked off major new military exercises on Thursday, Seoul's Joint Chiefs of Staff said, as the allies seek to counter growing threats from Pyongyang. The drills, dubbed «Freedom Edge», will focus on ballistic missile and air defences, anti-submarine warfare and defensive cyber training, among other areas, the JCS said in a statement. The three countries' leaders held a summit last year and agreed to conduct drills every year to demonstrate unity in the face of North Korea's nuclear threats and China's rising regional influence.

Sensex and Nifty to fresh all-time peaks, foreign institutional investors (FIIs) have been buying Indian stocks non-stop with a cumulative inflow of Rs 32,000 crore on Dalal Street in 12 trading sessions. FIIs can be seen pouring money into India funds at the cost of China, Brazil, Taiwan and South Korea as consensus is gradually building on imminent rate cuts in the second half of 2024. This month's buying comes after FII outflows worth over Rs 34,000 crore in the last 2 months. For 12 consecutive trading sessions from June 7 till June 25, FIIs have been net buyers on Dalal Street, according to Sebi data.

South Korean prosecutors have revealed that crypto-powered drug trafficking is on the rise nationwide.

North Korea said Thursday it had successfully tested a multiwarhead missile, a sophisticated weapon coveted by leader Kim Jong Un to overwhelm missile defenses in the continental United States. The statement contradicted South Korea's assessment of a failed launch Wednesday of a different type of weapon. The launch tested the separation and guidance control of individual mobile warheads to ensure the capability of the Multiple Independent Reentry Vehicle, the North's official Korean Central News Agency said. The separated mobile warheads «were guided correctly to the three coordinate targets» and a decoy that separated from the missile was verified by radar, it said. It was North Korea's first known launch event related to the development of a multiwarhead missile, though outside experts believe it was a preliminary test.

Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — June 27On Wednesday, the Indian stock market benchmark indices ended at record closing highs, with the Nifty 50 crossing 23,850 for the first time ever, led by banks and heavyweights.The Sensex jumped 620.73 points, or 0.80%, to close at 78,674.25, while the Nifty 50 settled 147.50 points, or 0.62%, higher at 23,868.80.“Overall optimism surrounding the Union Budget, increasing FII inflows, and robust domestic economic data contributed towards the positive movement in the market. We expect the ongoing uptrend to continue further," said Siddhartha Khemka, Senior Group VP, Head - Research, Broking & Distribution, Motilal Oswal Financial Services Ltd.Here are key global market cues for Sensex today:Gift Nifty was trading around 23,800 level, a discount of nearly 70 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.Also Read: Stock market today: 5 stocks in F&O ban list on June 27Asian markets traded lower on Thursday as the Japanese yen weakened to a near 38-year low and ahead of economic data in the region.Japan’s Nikkei 225 fell 0.93% while the Topix declined 0.36%.