Time ran out Friday for cryptocurrency exchanges to announce the closure of their services if they would not be operable after Sept. 24, marking a critical time that will decide the fate of many cryptocurrency exchanges in the country. More than 30 cryptocurrency exchanges were expected to give notice for a service shutdown by the end of Friday, as 24 exchanges have not applied for the Information Security Management System and 10 failed to acquire a certificate, according to industry source

South Korean stocks closed higher Friday ahead of a three-day holiday as investors weighed the pace of the economic recovery from the pandemic. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 10.42 points, or 0.33 percent, to close at 3,140.51 points. Trading volume was moderate at about 575 million shares worth some 14.6 trillion won ($12.4 billion), with losers outnumbering gainers 491 to 380. Foreigners bought a net 46 billion won, while

Stock transactions in South Korea spiked more than 70 percent in 2020 amid an investment craze among retail investors, data showed Friday. The value of stock trading in Asia's fourth-largest economy stood at 35,397.3 trillion won ($30.2 trillion) last year, up 70.5 percent from a year earlier, according to the data from the Financial Supervisory Service. The on-year growth rate is much higher than the 6 percent increase recorded the previous year. In the first six months of the year alone, stock

South Korean stocks opened lower Friday ahead of the holiday as investors weigh the pace of an economic recovery from the pandemic. The benchmark Korea Composite Stock Price Index (Kospi) fell 14.08 points, or 0.45 percent, to 3,116.01 points in the first 15 minutes of trading. Stocks retreated as investors took to the sidelines to digest mixed US economic indicators, such as weak price and strong retail sales in August, and their impact on the global economy. Overnight, the Dow Jones Industrial

Should Hyundai Card leave Hyundai Motor, card issuer likely to face increased debt financing costs, experts say

South Korean stocks opened flat Thursday amid easing concerns about a global economic recovery. The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.84 points, or 0.06 percent, to trade at 3,151.56 points in the first 15 minutes of trading. In Seoul, market bellwether Samsung Electronics declined 0.26 percent, with No. 2 chipmaker SK hynix losing 1.86 percent. Internet portal operator Naver added 1.5 percent, but giant pharmaceutical firm Samsung Biologics decreased 1.6 percent.

Cyworld, the once-popular social networking service, signed a strategic partnership with Hancom, an office suite software developer in South Korea, according to both companies on Wednesday. The partnership comes as Cyworld gears up to jump into the market with its metaverse-powered service Cyworld Z. The metaverse refers to a virtual world in which individuals can interact as avatars through different kinds of virtual technology such as augmented reality and virtual reality. The partnershi

South Korean stocks advanced for a fourth session Wednesday, supported by foreign buying, as some investors sought to digest the weak inflation data in the United States. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) added 4.57 points, or 0.15 percent, to close at 3,153.4 points. Trading volume was moderate at about 605 million shares worth some 12 trillion won ($10.2 billion), with gainers outnumbering losers 531 to 322. Foreigners bought a n

South Korean stocks opened higher Wednesday as bargain hunters sought oversold stocks on expectations of future price hikes. The benchmark Korea Composite Stock Price Index (Kospi) rose 4.09 points, or 0.13 percent, to 3,152.92 points in the first 15 minutes of trading. Bio and bank gains led the Kospi's rise, while chemical and auto shares got off to a weak start. Market kingpin Samsung Electronics added 0.26 percent, but No. 2 chipmaker SK hynix retreated 1.4 percent. Internet portal operator

Foreign investors put more value on high growth potential rather than stability when choosing which domestic stocks to purchase, a report showed Tuesday. According to a report from Korea Economic Research Institute, foreigners tended to buy more shares when the firm showed an improvement in business growth. On the contrary, they reduced the volume of net purchases when the firm stabilized its business. The report also showed that offshore investors’ net purchase trends had a strong tie

South Korean stocks advanced for the third straight session Tuesday as investors await the release of US consumer price data, seeking more clues about the Federal Reserve's tapering timeline. The Korean won rose against the US dollar. The benchmark Korea Composite Stock Price Index (KOSPI) added 20.97 points, or 0.67 percent, to close at 3,148.83 points. Trading volume was moderate at about 700 million shares worth some 15.4 trillion won ($13.2 billion), with gainers outnumbering losers 607 to

South Korean stocks opened steeply higher Tuesday as investors await the release of US consumer price data, seeking more clues about the Federal Reserve's timeline for tapering its stimulus. The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.92 points, or 0.51 percent, to trade at 3,143.78 points in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average advanced 0.76 percent, largely on expectations that the Fed would not hurry to roll back its accommodativ

Toss Bank, which is poised to become the country’s third internet-only bank, attracted more than half a million subscribers to its pre-registration of their deposit accounts in just three days, the company said Monday. The online bank was able to draw attention from customers by offering an annual interest of 2 percent, higher than the average interest rate offered by commercial banks at less than 1 percent, as a marketing strategy. “We were able to confirm consumers’ demand

South Korean stocks edged up after choppy trading Monday as investors remained cautious after a fall on Wall Street last week amid concerns about rising inflation. The Korean won fell against the US dollar. The benchmark Korea Composite Stock Price Index (Kospi) rose 2.1 points, or 0.07 percent, to close at 3,127.86 points. Trading volume was moderate at about 718 million shares worth some 13.3 trillion won ($11.3 billion), with gainers outnumbering losers 579 to 286. Foreigners bought a net 139

South Korean crypto exchange Bithumb said it has joined hands with Bucket Studio, a local mobile content provider, to launch a commerce platform where customers can purchase products and services in bithumb cash. By incorporating Bithumb’s blockchain payment technology, the commerce platform, named Bithumb Live, will serve as a new online marketplace. Customers will watch a live show promoting a product -- similar to TV homeshopping -- and pay with its currency, bithumb cash, later on, o