South Korea Financial News

The South Korean gaming behemoth WeMade is hopeful that its massive blockchain gaming drive is finally starting to pay dividends, media reports claimed on March 13.

By David Lawder

Investing.com-- Most Asian stocks rose slightly on Wednesday as major technology shares tracked a rally in their Wall Street peers, although overall gains were limited as hot U.S. inflation factored into a higher-for-longer outlook for interest rates.

Sensex gained 165.32 points, or 0.22%, to close at 73,667.96, while the Nifty 50 inched 3.05 points, or 0.01%, higher to settle at 22,335.70. “Pain is likely to continue in the broader market amid stretched valuation and red flags from SEBI. Also, the mandatory disclosure format for mutual funds shared by SEBI to look at the stress situation in the funds, will be out by March 15.

Nexon, the South Korean video game developer, plans to launch a web3 version of MapleStory on the Avalanche blockchain, adding user-generated content and new gameplay mechanics.

Shares are mostly higher in Asia ahead of a report on inflation in the U.S. that could sway the Federal Reserve's timing on cutting interest rates

A South Korean law firm operator was jailed in Busan on March 11 after being found guilty of stealing clients’ money to spend on crypto investments.

As the Dogecoin (DOGE) price is consolidating in the $0.175 area, bulls are eyeing a quick return to $0.20 amid a surge in trading volumes during Asia trading hours.

The recent Bitcoin rally has reignited a trading frenzy among South Korea’s crypto enthusiasts, with trading volumes on local exchanges surpassing those of the stock market last week. 

South Korea plans to launch a tracking system that aims to ensure virtual asset users aren’t avoiding taxes.

K Bank, a South Korean neobank that has seen rapid growth thanks laregely to its crypto operations, is set to make an initial public offering (IPO) bid.

Sensex gained 33.40 points, or 0.05%, to close at 74,119.39, while the Nifty 50 settled 19.50 points, or 0.09%, higher at 22,493.55. Market participants will now look out for several stock market triggers as the focus will shift to crucial economic data, such as inflation data releases from both India and the US, electoral announcements ahead of General Elections 2024, foreign capital inflow and other global cues. Read here: Week Ahead: Inflation data, FII activity, global cues among key market triggers as Nifty 50 eyes 22,800 this week “Investors will take cues from the outcome of the ECB interest rate meeting and US Non-Farm Payroll data.

Chinese tech companies, including memory chipmaker ChangXin Memory Technologies Inc., according to people familiar with the matter, in a fresh bid to restrain the Asian country’s development of advanced semiconductors. The US Commerce Department’s Bureau of Industry and Security is considering adding ChangXin to its so-called Entity List, which restricts companies’ access to US technology, said the people, who asked not to be identified because the conversations are private. BIS is also considering restricting five other Chinese firms, the people said, while emphasizing that the list isn’t final.

India’s fledgling electric vehicle market on expectations that a government push towards ecofriendly mobility and greater consumer awareness will further accelerate sales. Domestic electric passenger vehicle sales have picked up pace, with the number of mass-market models growing threefold to a dozen by seven companies in 2023, from just four models by three manufacturers prior to the pandemic, according to data collated by automotive market research firm Jato Dynamics. Tata Motors dominates the local EV market with its Tiago, Nexon, Tigor and Punch, followed by MG Motor India and Mahindra & Mahindra. China’s BYD, a relatively new entrant, is making strong inroads, surging ahead of even established rivals such as South Korea’s Hyundai and Kia. BYD, the world's number one electric vehicle maker, launched the Seal sedan earlier this week — the third model in its portfolio after the e6 multipurpose vehicle and Atto 3 SUV.

Terra founder Do Kwon has been caught in a legal battle between the United States and South Korea over which nation gets to extradite the crypto mogul to their turf.

US prosecutors aim to appeal the Montenegrin High Court’s decision to extradite former cryptocurrency mogul Do Kwon to South Korea to face charges related to the $40 billion collapse of the TerraUSD stablecoin in 2022.

deals. Companies in seed, early and late stages had raised about $147 million from 33 rounds during March 2 to March 8, 2023, as per data from Tracxn.

BEIJING — Foreign visitors to China can now spend up to $2,000 a year using the mobile app Alipay without having to register their ID, the app operator said Friday.

Meta Platforms for allegedly failing to protect some users of online marketplaces operated by Facebook and Instagram against fraudulent transactions, news reports said on Friday. The Korea Fair Trade Commission (FTC) had investigated possible violations of the country's e-commerce law and had sent an examination report to Meta late last year, Yonhap news and the Dong-a Ilbo newspaper reported, citing unnamed sources.

European shares are mostly declining, but Asian benchmarks finished higher after U.S. stocks climbed to records

SEOUL (Reuters) — South Korea's antitrust agency will consider imposing sanctions on Meta Platforms (NASDAQ:META) for allegedly failing to protect some users of online marketplaces operated by Facebook and Instagram against fraudulent transactions, news reports said on Friday.