South Korea Financial News

It is planned that Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), would meet with Lee Bok-hyun, the Chief of South Korea's Financial Supervisory Service (FSS). This meeting is expected to be of critical importance. As reported by Chosunbiz on December 18, this conference, which is scheduled to take place in January, is a proactive approach to examining the dynamics of the cryptocurrency market as well as prospective supervisory measures.

Netflix is set to bring a chilling adaptation of Hitoshi Iwaaki’s renowned manga, 'Parasyte,' to life. Directed by the acclaimed Yeon Sang Ho, 'Parasyte: The Grey' promises to deliver spine-tingling horror to your screens. Here's what you need to know about this upcoming South Korean series. In 'Parasyte: The Grey,' viewers will delve into a world infested by unidentified parasitic life-forms that feed off human hosts. As these creatures disrupt society, a group of courageous humans wages war against the growing threat. The series revolves around characters like Jung Soo In, who forms an unusual cohabitation with a parasite, Seol Kang Woo on a mission to find his missing sister, and Choi Jun Kyung leading the parasitic life team known as 'The Grey.' This adaptation marks the first live-action series outside Japan, promising a fresh take on the beloved manga.

South Korean cryptocurrency exchange Huobi Korea has announced the shut down of its services with effect from January 29, 2024. The decision comes in response to what the company described as a challenging “business environment.”

South Korea’s Financial Services Commission (FSC) has announced a proposal to amend its Enforcement Decree of the Credit-Specialized Financial Business Act, aiming to ban crypto purchases with credit cards.

By Jihoon Lee

Investing.com-- Most Asian stocks fell on Thursday, extending declines after a weak start to the year as persistent doubts over the timing and scale of the Federal Reserve’s interest rate cuts saw investors lock-in more profits.

The South Korean gaming firm WeMade has been hit with a $41 million tax bill for its crypto-related activities.

South Korea’s Incheon says it has confiscated $375,000 worth of cryptoassets from “tax-evading” residents who tried to hide their earnings in token wallets.

The monthly spot trading volume on crypto exchanges exceeded $1 trillion in December 2023, marking the first time this significant volume level has been surpassed in over a year.

Indonesia has launched a new five-year multiple-entry visa for tourists and visitors on business. The Directorate General of Immigration announcing the launch, said that the extended validity will make travel to Indonesia more affordable. Under the new visa, holders can stay in Indonesia for up to 60 days per visit. However, the announcement did not specify the time frame within which the 60 days must be used. The visa fee for this five-year multiple-entry option is set at $972 (IDR 15,000,000), and payment is required to be made online. Holders of this visa will have the flexibility to explore the country, visit family and friends, and participate in events and meetings. The Immigration department of Indonesia has underscored that the new visa is explicitly intended for tourism and business purposes, and holders are not permitted to work for local employers while in Indonesia. Those seeking to work or stay for an extended period must apply for an alternative visa category. Authorities have also warned that failure to adhere to the visa rules may result in fines, deportation, or legal charges.

By Stella Qiu

Investing.com-- Shares of Apple Inc's (NASDAQ:AAPL) biggest Asian suppliers sank on Wednesday, tracking an overnight decline in the iPhone maker after Barclays downgraded the stock citing cooling demand for its flagship product.

Investing.com-- Most Asian stocks fell on Wednesday, tracking steep overnight losses on Wall Street as markets second-guessed expectations for early interest rate cuts by the Federal Reserve, especially before more key economic cues this week.

Around 290,000 South Korean public sector workers will be forced to declare their crypto holdings starting from February.

Asian shares extended a global sell-off on Wednesday while the dollar held gains as market optimism about early and aggressive U.S. interest rate cuts ebbed ahead of the release of Fed minutes and jobs data. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1% after a 1.0% drop the previous day in a sluggish start of the new year.

Motilal Oswal Financial Services Ltd. Also Read: Day trading guide for today: Six stocks to buy or sell on Wednesday —January 3 Here are key global market cues for Sensex today: Asian markets traded lower on Wednesday tracking overnight weakness on Wall Street indices. Japan’s markets are closed until January 4.

Lee Jae-myung, South Korea's opposition leader, faced a vicious attack during a public appearance in Busan, narrowly escaping a potentially fatal assault. The assailant, a 66-year-old individual, inflicted a 1cm laceration on Lee's neck during a media briefing, leading to immediate uproar and condemnation across the nation. President Yoon Suk Yeol and various political entities swiftly expressed their denouncement of the assault. During a routine visit to a construction site in Busan, Lee was unexpectedly approached by the attacker, feigning a request for an autograph. In a sudden turn, the assailant brandished an 18cm knife purchased online, launching an unprovoked attack on the opposition leader. Swift actions from those present led to the attacker's capture and prompt medical attention for Lee.

Samsung is likely to unveil its flagship Galaxy S24 lineup at the Galaxy Unpacked event on January 17. The event could see the launch of the Galaxy S24, Galaxy S24+ and Galaxy S24 Ultra smartphones, and these devices could even go on sale in some key regions before the end of the month. Pre-orders for these flagship smartphones are likely to start soon after the January 17 launch, and several pre-order perks have been leaked online by South Korean blogger Naver.

AP reported. Busan’s emergency office said Lee, head of the main opposition Democratic Party, was attacked as he visited the construction site of a new airport in the city. South Korean media cited witnesses as saying the man used a knife-like weapon to stab Lee’s neck.

-A tsunami measuring under one metre (3.3 ft) reached South Korea's east coast in the wake of a massive earthquake that hit Japan on Monday -The first tsunami to reach South Korea's coast was 67 cm (2.2 ft) but authoriites warned it may increase in size after the initial waves and may continue for more than 24 hours -North Korea issued tsunami warnings for its coast of possible waves of more than 2 metres, South Korea's Yonhap news agency reported, citing the North's state radio. -Russian officials issued a tsunami alert for the island of Sakhalin, warning that areas across the island's west coast could be affected by the waves. -Tsunami waves over a metre (three feet) high crashed into the coast after the 7.6-magnitude quake, and more, up to five metres high, were possible within 300 kilometres of the epicentre, US and Japanese weather agencies said.

Authorities called for immediate evacuation in affected areas, emphasizing the potential for more major quakes in the coming days. The quakes caused damages at some places. Bullet trains were halted while highways were closed in affected places. Japanese media captured scenes of people standing near large pavement cracks, and the Meteorological Agency warned of the possibility of additional major quakes over the next week.