South Korea Financial News

Asian shares are mostly higher after Wall Street advanced to claim back some of the ground it gave up in another losing month

Samsung Electronics has reported its highest quarterly profit for the year

South Korea’s Busan city is officially seeking operators for its forthcoming Busan Digital Asset Exchange.

North Korea is poised to close as many as a dozen embassies including in Spain, Hong Kong, and multiple countries in Africa, according to media reports and analysts, in a move that could see nearly 25 percent of Pyongyang's missions close worldwide. North Korea's recent closing of its diplomatic missions was a sign that the reclusive country is struggling to make money overseas because of international sanctions, South Korea's unification ministry said on Tuesday. On Monday, North Korean state media outlet KCNA said the country's ambassadors paid «farewell» visits to Angolan and Ugandan leaders last week, and local media in both African countries reported the shutdown of the North's embassies there. Both Angola and Uganda have forged friendly ties with North Korea since the 1970s, maintaining military cooperation and providing rare sources of foreign currency such as statue-building projects. The embassy closings set the stage for what could be «one of the country's biggest foreign policy shakeups in decades», with implications for diplomatic engagement, humanitarian work in the isolated country, as well as the ability to generate illicit revenue, wrote Chad O'Carroll, founder of the North Korea-focused website NK Pro. More than a dozen missions may close, likely because of international sanctions, a trend of Pyongyang's disengaging globally and the probable weakening of the North Korean economy, he said in a report on Wednesday. Seoul's unification ministry, which handles inter-Korean affairs, said the pullout reflected the impact of international sanctions aimed at curbing funding for the North's nuclear and missile programs. «They appear to be withdrawing as their foreign currency earning business has stumbled

By Jamie McGeever

K-pop group LOONA, is adored by fans worldwide. Born on October 19, 2000, Heejin embarked on a journey to shape herself and her career, aspiring to become a K-pop sensation. She later joined Blackberry Creative, LOONA's management company.

The co-founder of Terraform Labs Daniel Shin has denied involvement in the collapse of the Terra Network pointing fingers at former CEO Do Kwon.

A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI.

A South Korean prosecution unit dedicated to investigating crypto crime is already “overloaded” with cases, just over a year after launching.

The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South Korea on Oct. 30, according to local news reports. Shin is accused of defrauding investors. Also at issue was whether or not Luna is a security.

Mumbai: As per the International Monetary Fund’s World Economic Outlook released in early October, China is expected to grow by 5% in 2023. This growth forecast is in constant terms adjusted for inflation and in the Chinese currency yuan. A growth of 5% in 2023 is better than growth of 2.2% in 2020 and 3% in 2022.

Tether, the preeminent stablecoin firm globally, has once again exemplified its resolve against illicit financial activities by freezing 32 cryptocurrency addresses, implicated in terrorism and warfare funding within Israel and Ukraine. The move showcases the intensifying collaboration between cryptocurrency establishments and global law enforcement to counteract the rising tide of digital-financed crime.

HONG KONG—Hong Kong’s government is grappling with an exodus of citizens and a plummeting birthrate. Its solution: Subsidize baby-making. The city has lost its appeal to some residents over the last four years, hurt by strict rules during the Covid-19 pandemic, anxieties about the growing political influence of Beijing, and competition from Singapore and elsewhere.

Analysts are however hesitant to conclude that the bounce back will be sustained with geopolitical tensions and concerns over higher US bond yields continuing to cast a shadow over the markets. NSE's Nifty gained 190 points, or 1.01%, to close at 19,047.25. BSE's Sensex rose 634.65 points, or 1.01%, to end at 63,782.80. «The market has recovered due to a technical pullback after it was in the oversold category for the last six trading sessions,» said Dharmesh Shah, head, technical, ICICI Securities.

Upbit has solidified its position as the dominant player in South Korea‘s crypto exchange market, boasting an impressive market share of 80%.

Motilal Oswal Financial Services. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — October 27 Here are key global market cues for Sensex today: Asian markets rebounded to trade higher on Friday as investors weighed on key economic data in the region. Japan’s Nikkei 225 traded 0.56% higher and the Topix gained 0.6%.

Indian para athletes on Thursday created history by winning the highest number of medals in the Asian Para Games, taking the country's tally to 82, including 18 gold. India have now gone past the earlier best of 72 medals achieved in the 2018 edition in Indonesia. India added 18 medals, including three gold, on Thursday.

Senior public officials in South Korea’s Gyeonggi province have declared their cryptocurrency holdings. The disclosure comes as part of the province’s efforts to ensure transparency among its government employees to avoid conflict of interest.

Construction of Hyundai's first U.S. plant dedicated to making electric vehicles is moving quickly

Sensex closed 522.82 points, or 0.81%, lower at 64,049.06, while the Nifty 50 ended at 19,122.15, down 159.60 points, or 0.83%. “We expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results. On the global front, investors will take cues from ECB interest rate decision on Thursday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

The hacker responsible for the theft of $13 million from the GDAC exchange on April 9, 2023, has initiated the movement of the stolen funds. This information comes courtesy of a MistTrack Alert posted on Twitter on October 11, 2023.