South Korea Financial News

In light of the significant regulatory strides taken by South Korea in the cryptocurrency domain, the disclosure of 'Compensation Reserve Funds' by domestic crypto exchanges emerges as a resonating move toward bolstering financial safeguards in the burgeoning digital asset market. Leading the pack, Upbit has earmarked KRW 20 billion as a financial buffer, demonstrating adherence to the forthcoming regulatory landscape slated for full implementation in 2024.

₹30,000) is expected to be from easy finance options. For affordable segments (sub- ₹30,000), this will be the first time that the share will rise to 25% of total sales," said Tarun Pathak, research director at Counterpoint Research. In 2022, about 25% of premium smartphones, including Apple, Samsung, and OnePlus, were sold through staggered payment plans, most at zero interest or processing fee, data revealed.

Billionaire Chris Ellison says governments must do more than offer debt finance to critical minerals projects, while pre-revenue explorers urged the Albanese government to avoid funnelling the $2 billion of new critical minerals funding to established miners who are already “printing money”.

Daewoo has entered into fast-growing Indian consumer electronics and appliances market through its licensee partner Kelwon Electronics & Appliances, which has plans to invest around Rs 300 crore in the next three years. Kelwon, which sells products, including Lithium Hybrid Inverters and LED TVs, will introduce products in sectors such as energy and power, and consumer electronics, under brand Daewoo — now owned by South Korean conglomerate POSCO DAEWOO.

By Joyce Lee and Heekyong Yang

Investing.com-- Most Asian currencies fell slightly on Wednesday as strong overnight data boosted the dollar, while the Australian dollar rose sharply as a strong inflation reading fueled expectations for an interest rate hike in November. 

A new report warns that the proliferation of child sexual abuse images on the internet could become much worse if something is not done to put controls on artificial intelligence tools that generate deepfake photos

By Heekyong Yang and Joyce Lee

Sensex tanked 825.74 points, or 1.26%, to settle at 64,571.88, while the Nifty plunged 260.90 points, or 1.34%, to 19,281.75. Tensions over regional conflict in the Middle East, worries over more rate hikes by the US Federal Reserve for an extended period and mixed corporate earnings so far spooked markets. “We expect the market to remain volatile amid rise in global uncertainties while the stock specific action is likely to continue in the market amid a busy results season.

MINA, the token that powers the zero-knowledge (ZK) proof-powered Mina Protocol, has seen a huge pump, nearly doubling in price since the start of the week.

Global bond markets rebounded, with the US 10-year yield sliding to 4.8%, amid growing speculation that the recent selloff was excessive. Nasdaq 100 index futures rose ahead of earnings from Microsoft Corp. and Alphabet Inc.

Asian shares are mixed after Wall Street wobbled to a mixed close as yields on U.S. Treasury bonds fell back after jumping above 5%

Samsung's Galaxy S24 series is nearing its launch in early 2024 and reports suggest the South Korean giant is gearing up to revolutionise the smartphone landscape with AI integration, aiming to create the «smartest AI phones ever.» The company's focus on artificial intelligence (AI) technologies, particularly generative AI, is poised to challenge competitors like Google’s Pixel 8 series. Samsung plans to introduce advanced AI features, some inspired by models like ChatGPT and Google Bard. Users can anticipate capabilities allowing them to create content and stories based on minimal input, a user-friendly feature aimed at enhancing creativity. Additionally, Samsung is developing in-house generative AI tools, including text-to-image functionality.

₹13,537 crore) in India, Mirae towers over other foreign asset managers in the nation. The firm's Indian arm has amassed a client base nearing six million, and the profits are soaring, touching up to 40 billion won ( ₹247 crore) annually.

steel ministry's nod mandatory for imports which have not been cleared by the Bureau of Indian Standards (BIS), a move aimed at a crackdown on substandard goods. The decision comes after the BIS issued a quality control order for a variety of steel products and importers were mandated by the Centre to seek prior quality approval of import consignments which were meant for sale locally. Domestic steel importers said this may reduce imports of steel products which had surged in recent months. India's iron and steel imports stood at 7.68 million tonnes (mt) between April and August, up 59.45% from 4.82 mt a year ago. Under the existing policy, BIS certification is issued to eligible overseas steel mills.

The Financial Crimes Enforcement Network (FinCEN) has put forward a notice of proposed rulemaking that could have significant implications for the crypto mixers, including Bitcoin (BTC)'s CoinJoin. 

₹300 crore then) in TBO Tek. “Multi-bagger exits in private equity are rare. When that happens it can be due to investors taking a contrarian bet, a company’s disruptive product offerings, exceptional management execution or due to strong market tailwinds.

financial planning. Then, in 2020, spending on services, from hotel stays to hair cuts, collapsed owing to lockdowns. With people spending more time at home, demand for goods jumped, with a rush for computer equipment and exercise bikes.

South Korea’s early exports returned to growth for the first time in more than a year in another indication of recovering external demand that will offer some reassurance to investors and policymakers monitoring the health of global commerce. Daily average shipments for the first 20 days of October increased 8.6% from a year earlier in the first gain since September last year, according to data released Monday from the customs office. The increase is a positive indication that world trade is starting to regain strength after a global slowdown. South Korea releases its data earlier than many economies and due to its key position in global supply chains and the tech sector, its export figures are watched closely to get an early take on the trajectory of world trade.

By Wayne Cole

Middle East clouded sentiment in a week laden with data on U.S. growth and inflation as well as earnings from some of the world's largest tech companies. Washington warned over the weekend of a significant risk to U.S. interests in the region as ally Israel pounded Gaza and clashes on its border with Lebanon intensified. The European Central Bank and Bank of Canada also hold policy meetings and, while no hikes are expected, investors will be sensitive to guidance on futures moves. A recent surge in bond yields has tightened monetary conditions without the central banks having to do anything, allowing the Federal Reserve to signal it will likely stay on hold at its policy meeting next week.