South Korea Financial News

Fraudsters are targetting South Korean crypto users with an Ethereum-themed scam, token holders in the country said on May 21.

Sensex fell 52.63 points, or 0.07%, to close at 73,953.31, while the Nifty 50 settled 27.05 points, or 0.12%, higher at 22,529.05. “Despite FIIs selling and India Vix at elevated levels, markets have stabilized and we expect a gradual up-move going forward. Key events to watch this week – UK inflation data, US Existing Home Sales number and FOMC meeting minutes," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Global shares have retreated even after most U.S. stock indexes finished higher, especially technology issues like Nvidia

The world’s leading artificial intelligence companies pledged at the start of a mini summit on AI to develop the technology safely, including pulling the plug if they can’t rein in the most extreme risks

The United States’ dollar has strengthened sharply in recent months, and against Asian currencies in particular. A rising crescendo of apocalyptic financial talk threatens to spook markets. The Japanese yen, for example, appears to be on the verge of collapse.

Bitcoin has achieved all-time highs against local currencies in several countries across Asia and South America, following a significant 7% surge in its price.

Read here: Week Ahead: US Fed chair speech, Q4 results, FII activity, global cues among key market triggers this week On Saturday, the Indian stock market indices ended the special trading session with minor gains amid positive global cues. The Sensex gained 88.91 points, or 0.12%, to close at 74,005.94, while the Nifty 50 settled 35.90 points, or 0.16%, higher at 22,502.00. The domestic equity markets were closed on Monday due to the Lok Sabha elections in Mumbai.

South Korean

South Korea is set to host a mini-summit this week on risks and regulation of artificial intelligence

SEOUL: North Korean leader Kim Jong Un ordered accelerated production to strengthen the country's nuclear force more rapidly, on the same day he oversaw a test of tactical ballistic missiles with new guidance technology, state media KCNA said on Saturday. While visiting an arms factory on Friday, Kim made the production order to bolster nuclear war deterrence, KCNA said. This way, the enemy would be afraid of North Korea's nuclear combat posture, Kim added. North Korea fired a number of short-range ballistic missiles towards the sea off its east coast on Friday, South Korea's military had said. Kim expressed satisfaction at the successful test, KCNA said.

Popular and lovable Solana meme coin Slothana ($SLOTH) today announced that it will be listed on top 10 crypto exchange HTX.

South Korean police have arrested 34 people in a raid on a suspected crypto-powered drugs smuggling ring, officers announced on May 16.

Mint on the impact of climate change in the Asia Pacific region. India accounts for most of the economic and human losses in South Asia region.

Two South Korean police officers are standing trial over alleged bribery in an increasingly high-profile crypto fraud case.

Sensex declined 117.58 points, or 0.16%, to close at 72,987.03, while the Nifty 50 settled 17.30 points, or 0.08%, lower at 22,200.55. “Relentless FIIs selling and India Vix at elevated levels put pressure on the market. We expect the market to consolidate in a broader range as the election polling progresses and the result season nears the end," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Mercedes-Benz NXT, the German automotive giant’s Web3 arm, is launching a new non-fungible token (NFT) collection in partnership with Mojito, a suite for creating NFT marketplaces.

Japan and the United States are planning to develop interceptors to shoot down hypersonic missiles by the 2030s under a contract signed by the two countries on Wednesday. The plan, which will reportedly cost more than $3 billion, was first announced in August when the nations' leaders met at a summit with South Korea in Camp David outside Washington. «In recent years, around Japan, missile-related technologies such as hypersonic weapons have improved dramatically,» the defence ministry said in a statement about the agreement to jointly develop the so-called Glide Phase Interceptor (GPI).

China will allow visa-free entry for foreign tour groups that come to the country via cruise ships in a further bid to attract international visitors and boost its sluggish inbound travel market. Overseas tour groups on cruise boats will be able to enter and stay in China without a visa for up to 15 days, according to the National Immigration Administration. The new policy will be effective from May 15. Tour groups can enter China from 13 ports including Shanghai, Qingdao, Dalian and Haikou, Mao Xu, a senior official with the immigration administration, said at a press conference in Beijing on Wednesday. Qualifying tour groups need to be received and handled by domestic travel agencies and will be allowed to travel to coastal provinces as well as the capital, Beijing, while they are in China, Mao said.

The South Korean tax body, the National Tax Service (NTS), has announced it has liquidated previously frozen crypto worth more than $800,000.

Fans of Korean pop bands around the world are increasingly channeling their millions-strong online community into climate and environmental activism

Top China, South Korea Diplomats Hold Rare Talks in Beijing On Tuesday, the White House announced a tariff hike on $18 billion worth of imports from China, targeting key sectors such as electric vehicles, batteries, steel, and vital minerals. This decision coincides with President Joe Biden's preparation for the upcoming November election, where he is expected to face Republican rival Donald Trump again. Administration officials criticized Trump's trade policies as they unveiled the tariff increase.