South Korea’s financial regulator is likely to decide the fate of Samsung BioLogics on May 23 at the earliest over allegations that the company had doctored its accounting books. The nation’s top financial regulator, the Financial Services Commission, said it would review the case by holding an in-house oversight panel next Thursday. If a breach of accounting regulations is found, the Securities...

The Mongolian Stock Exchange chief hailed South Korean financial companies’ engagement with its fledging stock market as a “positive catalyst” in its search for increased attention from foreign investors. Speaking in an interview with The Korea Herald, Altai Khangai, chief executive officer of the MSE, cited the initial public offering of LendMN, Mongolia’s first financial technology company tha...

The local currency strengthened against the greenback for two consecutive trading days until Monday on heightening expectations of a thaw in inter-Korean relations after a summit between North and South Korea. As of the trading session’s close Monday, the US dollar was trading at 1,068 won, according to the Seoul Money Brokerage. The market closed Tuesday due to the Labor Day holiday. The won-d...

Overly-hyped sentiments have begun to give way to skepticism toward a flurry of promises made by founders of distributed ledger systems like blockchain and the digital currencies encrypted and traded on them. Fanning such cynicism was the global race to place cryptocurrency transactions into regulatory frameworks to deter speculation and prevent crimes like money laundering. Such moves have resu...

Mirae Asset Global Investments, South Korea’s asset management firm, had its target date fund product rank No. 1 in terms of yearly return on the Korean market. A TDF refers to a collective investment scheme in the form of a mutual fund or collective trust fund, whose asset allocation mix of the portfolio becomes conservative -- largely from equities to bonds -- in the coming of an individual in...

Korea Credit Data, a South Korean startup providing accounting software to small and mid-sized companies, will embark on a project to develop a blockchain-powered solution for SMEs, the company said Friday. Dunamu, operator of Korea‘s largest cryptocurrency exchange Upbit, will coordinate with KCD to develop the blockchain solution to lower procurement cost and help SME operators get easier acce...

South Korea’s stock markets ended higher Friday in the wake of a historic inter-Korean summit that signaled the path to denuclearization of the Korean Peninsula. The top-tier Kospi closed at 2,492.40, up 0.7 percent from Thursday’s close, while the second-tier Kosdaq came to 886.49, up 0.8 percent. Earlier Friday morning, the Kospi had breached the 2,500 mark, hitting an intraday high of 2,508....

With drummed up expectations for a more stable Korean Peninsula upon the inter-Korean summit on Friday, stocks of South Korean firms related to cross-border businesses have seen sharp gains. The firms are associated with the inter-Korean business initiative pledged by South Korean President Moon Jae-in. Named “New Economic Map of the Korean Peninsula,” it contains plans to jointly develop areas...

South Korea’s Energy minister Paik Un-gyu has ditched a plan to install a household solar power system at his home apartment, in the face of opposition from neighbors in the same building. Paik, a resident of the affluent Gangnam district in southeastern Seoul, attempted to have the power-generating device attached to the apartment building several weeks ago, according to the ministry. The 54-ye...

South Korea’s customs authorities have taken to instant messengers KakaoTalk and Telegram to help whistleblowers anonymously share evidence of the embattled Hanjin owner family’s breach of the law. Recently revealed audio and video clips showing temper tantrums of people alleged to be Cho’s wife and daughter have drawn public criticism, triggering multifaceted probes into the conglomerate by pol...

Standard Chartered Bank Korea’s newly-released airline miles credit card with efficient options that can reward a user free flight tickets to destinations like Southeast Asian nations, in return for spending at least 2 million won ($1,900) each month for a year. Launched in March, the new credit card dubbed “Plus Mile” offers at most bonus 3.5 miles to fly Asiana Airlines or bonus 3 miles with K...

South Korea will bring together the world’s 46 manufacturers of coins, medals and banknotes this week to discuss the future of the minting industry amid the emergence of new technologies across the globe. The state-run coin and bank note manufacturer, Korea Minting and Security Printing & ID Card Operating Corp. (Komsco), will host the biannual Mint Directors Conference from Monday to Thursday, ...

Many Asian countries have long been home to cold noodle dishes, and in contemporary times, they have become a popular way to fight the heat during summer. And in Korea, naengmyeon is the cold noodle dish of choice to fight the humid summer. Long lines of people brave the heat outside for at least 30 minutes to get into Seoul’s top restaurants for cold noodles -- their decades of history keeping ...

Raonsecure, a biometric technology solution provider to financial firms in South Korea, offered a theater presentation at RSA Conference 2018 in San Francisco, California, highlighting the “momentum for overseas business in America,” the company said Thursday. Raonsecure‘s presentation was made on Wednesday along with some 30 companies at the conference. Raonsecure was the only Korean company to...

Recent political rows surrounding the chiefs of the Financial Supervisory Service are expected to put the brakes on the Moon Jae-in administration’s ambitious financial reform drive, while leaving the financial regulator struggling in a leadership void. Speculations, meanwhile, quickly spread Tuesday after the resignation of former lawmaker and civic activist Kim Ki-sik, on who would be the next...