South Korea Financial News

The Bank of Korea (BOK) — South Korea’s central bank — has said it will invite 100,000 Korean citizens to purchase goods with deposit tokens as part of its central bank digital currency (CBDC) pilot. The testing will start “around September to October” of 2024 and last for three months. 

satellite launch rocket exploded after separation on Tuesday, video captured by an South Korean astronomy observatory showed, in what some analysts said may have been deliberate destruction to prevent recovery. North Korea launched its first spy satellite into orbit on Tuesday, after two previous attempts this year ended with the rockets crashing during flight. The video was filmed by a camera South Korea's Yonsei University uses for watching meteors. Analysts said it shows the Chollima-1 rocket crossing the sky, and a stage separating.

South Korea said on Wednesday it would suspend parts of a 2018 military agreement with North Korea designed to curb the risk of inadvertent clashes along their shared border, in response to Pyongyang's claim to have successfully launched a spy satellite. Among the concrete steps stemming from the move, Prime Minister Han Duck-soo said South Korea would immediately resume reconnaissance of the North's forces in border areas. Such surveillance had been curtailed under the pact, South Korean officials said. WHAT HAPPENED IN 2018? The so-called Comprehensive Military Agreement (CMA) signed between the two Koreas in 2018 was the most substantive deal to result from months of historic meetings between leader Kim Jong Un and then-South Korean President Moon Jae-in.

BlackPink on Wednesday received honorary Member of the Order of the British Empire medals in the presence of South Korean President Yoon Suk Yeol during his state visit to the United Kingdom, Buckingham Palace said in its statement. Blackpink received the MBEs because of their roles as COP26 Advocates for the United Nations climate summit held in Glasgow back in 2021, Buckingham Palace said. «First appointed to the role by the UK Government in January 2021, BlackPink encouraged millions of young people to engage with the global UN climate change conference and the topic of climate action,» said the official account of royal family in a post on social media platform 'X.' «It's amazing you're still talking to each other after all these years,» King Charles jokingly said to the band at the ceremony. «I hope I shall be able to see you perform live at some point,» added King Charles.

After decades as some of the world’s most disappointing stocks, Japanese equities are suddenly lighting it up once again

In South Korea, the cryptocurrency community is calling for stronger reporting standards and a more rigorous regulatory framework as multiple virtual assets encounter delistings and circulation discrepancies, according to Digital Today.

North Korea said Wednesday it had succeeded in putting a military spy satellite in orbit after two previous failures, as the United States led its allies in condemning the launch as a «brazen violation» of UN sanctions. A rocket carrying the satellite blasted off Tuesday night from North Phyongan province and «accurately put the reconnaissance satellite 'Malligyong-1' on its orbit», state-run news agency KCNA reported. Images in state media showed North Korean leader Kim Jong Un smiling and waving, surrounded by white-uniformed scientists and engineers who cheered and clapped after watching the successful blastoff. The United States led condemnation of the launch, saying it was a «brazen violation» of UN sanctions, while South Korea responded by partially suspending a 2018 military deal with the North, saying it would resume surveillance operations along their border. Japan said that Pyongyang's claims of success could not immediately be independently verified. Tokyo is still analysing the launch and «at this point is not confirming whether the satellite had entered into an orbit around the Earth», chief government spokesman Hirokazu Matsuno said. North Korea's previous efforts to put a spy satellite into orbit in May and August both failed.

The leaders of Britain and South Korea are seeking to strengthen trade and defense ties between their countries during a state visit to the U.K. by President Yoon Suk Yeol

King Charles III has hosted South Korean President Yoon Suk Yeol and his wife at a glittering banquet at Buckingham Palace, as Britain rolled out the red carpet for a formal state visit aimed at strengthening trade and defense ties between the two coun...

US Federal Reserve meeting minutes showed a cautious approach to future interest-rate moves. The Asian markets traded mostly lower, while the US stock market indices closed in the red overnight after the amid selling in retail and technology shares. On Tuesday, the domestic benchmark equity indices ended with decent gains, snapping a two-day losing streak.

The trial of Lee Sang-jun, the CEO of the crypto exchange Bithumb’s parent company, has begun in Seoul, South Korea.

Prince and Princess of Wales were completely captivated by each other as they greeted the South Korean President Yoon Suk Yeol during his state visit to the UK on Tuesday. The royal couple were caught sharing a discreet PDA as they joined King Charles and Queen Camilla in exploring artifacts from the Royal Collection alongside South Korean President and First Lady Kim Keon-hee at Buckingham Palace on Tuesday afternoon. This occurred after the royals had treated their guests to a ceremonial welcome and a carriage ride earlier in the day. Footage from the event captures the royals, including the Duchess of Edinburgh, admiring Korean-related items as they entertained their guests.

fired a missile late Tuesday. "Missile launch. Missile launch.

Another international crypto exchange wants to gain a foothold in the elusive South Korean market, with a platform named Bitbest planning to launch in 2024.

Sensex fell 139.58 points, or 0.21%, to close at 65,655.15, while the NSE Nifty 50 ended 37.80 points, or 0.19%, lower at 19,694.00. “Overall market is likely to consolidate in a range as focus will be on the US FOMC meeting minutes which will be released on Wednesday. Globally, participation could be lower on account of Thanks Giving Holiday on Thursday.

North Korea fires unspecified ballistic missile off its east coast, 12th this year Japan will work with the United States, South Korea and others to "strongly urge" North Korea not to go ahead with the launch, Kishida said. North Korea had attempted to launch what it called spy satellites twice earlier this year but failed, and South Korean officials have said in recent days that it appeared set to try again soon.

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be blamed for terror financing,” crypto shouldn’t be either. The witnesses, including representatives from Consensys and Chainalysis, spoke about the need for international and public-private collaboration in stopping the misuse of digital assets, the need for well-crafted legislation and the intricacies of blockchain sleuthing.

A handful of temporary workers from South Korea have arrived in Windsor to staff up a new Stellantis electric vehicle battery manufacturing plant, according to officials with the Ontario government, raising concerns that massive taxpayer subsidies could be used to employ international auto workers over Canadians.

global market cues including US bond yields, crude oil prices, and performance in US markets. On Friday, the domestic equity benchmark indices ended lower. The Sensex ended 187.75 points, or 0.28%, lower at 65,794.73 while the Nifty 50 declined 33.40 points, or 0.17%, to settle at 19,731.80.

The South Korean pro golfer Lee Ye-won has scooped a crypto prize worth over $457,000 by winning a KLPGA Tour event in Busan.

The 2023 CEX Market Report by 0xScope, published on November 6, 2023, provides a comprehensive overview of the changing landscapes within the centralized exchanges (CEXs) over the past year. It highlights the shifting dynamics and the rise of second-tier exchanges like OKX and Upbit challenging Binance's previously uncontested dominance.