South Korea Financial News

Orion India, the India arm of South Korea’s confectionery maker Orion Holdings, is doubling down on its local portfolio of snacking products which include Choco Pie dessert snack and Turtle chips, the company’s managing director Saurabh Saith said. The company, which entered India five years back, is expanding capacity at its existing manufacturing plant in Rajasthan, and adding new snacking products to respond to demand surge, Saith said. The snacks maker has signed actor Palak Tiwari to endorse its Turtle Chips franchise in India. The rising popularity of Korean foods has led to large brands extending their portfolio to Korean brands, including Nestle which extended Maggi to Korean BBQ noodles in recent months and ITC which expanded its portfolio of Bingo chips to include Korean variants last week.

Terraform Labs co-founder Do Kwon’s recent ruling mandating his extradition to South Korea is now being challenged by Montenegro’s top prosecutor. 

By Rae Wee

South Korea’s government says it will take final steps to suspend the licenses of striking junior doctors next week

A Montenegro appeal court denied Do Kwon’s extradition appeal on Wednesday to overturn a ruling mandating his extradition to South Korea.

South Korean “tax dodgers” have been dealt another blow, with tax authorities in the city of Hwaseong confiscating cryptoassets worth over $768,500.

An appeals court in Montenegro has confirmed that cryptocurrency mogul Do Kwon will be handed over to his native South Korea

A Montenegro appeal court denied Do Kwon’s appeal on Wednesday to overturn a ruling mandating his extradition to South Korea.

A worrying trend has been identified, revealing that a palpable ideological chasm has emerged between young men and women. Research shows that while young women tend to be more liberal or progressive, young men as a group are becoming more conservative across the globe. Data reporter John Burn-Murdoch’s analysis of several surveys in Financial Times shows that in the US, UK and Germany, young women are at least 25 percentage points more liberal than young men, and a similar divide is seen in Poland, South Korea, China and Tunisia.

A South Korean tanker has capsized off an island in southwestern Japan

Asian shares have closed mostly higher while European markets opened lower as investors awaited the latest signals from the Federal Reserve on the timing of cuts to interest rates

With only three weeks remaining until the general election, South Korea’s rival political parties are vying for support from crypto investors, who have emerged as a key voting group. 

By Stella Qiu

A South Korean altcoin issuer has been arrested on fraud charges. Prosecutors in the country have accused him of duping investors out of $16.1 million.

Investing.com-- Most Asian stocks steadied in cautious trade on Wednesday as markets awaited more cues on U.S. interest rates from the conclusion of a Federal Reserve meeting later in the day.

Investing.com-- Shares of Samsung Electronics Co Ltd (KS:005930) rose sharply on Wednesday after reports said artificial intelligence major NVIDIA Corporation (NASDAQ:NVDA)  was testing high bandwidth memory chips from the South Korean conglomerate.

The Dodgers are paying $700 million for Shohei Ohtani

South Korean authorities will suspend the licenses of two senior doctors for allegedly inciting the weekslong walkouts by medical interns and residents that have disrupted hospital operations

Looking into the rate of crypto adoption and the share of cryptocurrency owners in 56 countries as of February 2024, Nigeria and Turkey lead the pack, according to data from Statista.

Japan’s Government Pension Investment Fund (GPIF) said Tuesday that it is seeking information regarding diversifying into illiquid assets such as Bitcoin, gold, forests, and farmland.

India is hailed as the third largest fintech ecosystem in the world with over 10000 FinTech firms in the country. The fintech adoption rate in India is 87% which is way above the global average of 64%. On top of that, the value of India’s Financial Inclusion Index is 60.1 as against 56.4 in the previous year. Yet, India is severely credit underpenetrated. The credit card penetration is estimated at around merely 5.5% of the population and even India’s domestic credit to the private sector at 55% of GDP in 2020 is remarkably below the world average (148%), and lowest among its Asian peers — China (182%), South Korea (165%), and Vietnam (148%).