Kakao Bank, South Korea’s leading Internet-only bank, said on Monday that it is hiring more than 100 employees in its push to ramp up digital innovation.  The lender said it plans to hire experienced talent in eight areas -- financial IT development, risk management, business development, service plan, compliance, audit, and customer services -- in the first half of the year. After the latest talent hunting, the company’s headcount, which currently stands at 937, will exceed 1

Kim Dong-hwan, the founder of a market and economic YouTube show “Three Pros” had never imagined that his channel would have 1 million subscribers, a tenfold increase, just within a year. “Three Pros: With Economic God” provides daily market updates and analysis of industries and economy and is hosted by three “pros” in the field: Kim, Lee Jin-woo and Jung Young-jin. The channel has recorded more than 200 million views so far and attracts as many as 60,000

Upbit, a South Korean digital asset exchange, said Thursday that its Thailand unit was up and running after receiving the necessary licenses from regulators. The Thailand Securities and Exchange Commission recently granted approval for Upbit Thailand in four business areas -- digital asset exchange and brokerage and digital token exchange and brokerage -- with Upbit Thailand being fully operational as of Wednesday, the company said. “It is a very exciting time for the digital asset indu

Viva Republica, the operator of leading finance app Toss, on Wednesday announced that it plans to add 330 new staff in the first quarter ahead of the launch of an internet-only bank and an online securities arm later this year. The latest hunt for talent comes as the 6-year-old startup prepares to become the country‘s third internet-only bank, expected to launch in July, and to kick off the mobile securities firm Toss Securities next month. With five units under its umbrella, including f

Dunamu, a South Korean blockchain and fintech company, said Tuesday that it has developed an indicator that measures volatility of digital asset market to help investors make decisions. The digital asset fear-and-greed index reflects market sentiment in five different levels, from ”extreme fear“ to ”extreme greed.” The index gauges market volatility with trading price and transaction volume every five minutes.  “As many domestic digital asset investors use gl

　The nickname “ants” has been used to describe South Korean retail investors, as a diligent but minor group seeking profit from the market with little in the way of knowledge or funds. The recent stock craze that pushed up the nation‘s main bourse Kospi, however, shows how those minor players are transforming. Armed with abundant funds and wider access to limited information thanks to advanced technology, the ants are marching toward the territory of the institutional and for

Park Hyun-joo, chairman and founder of South Korea’s Mirae Asset Group, on Thursday urged analysts to explore innovative companies, stressing shifting investment strategies focusing on the growth potential of companies rather than assessment of the manufacturing value chain. At an online investment strategy meeting, Park referred to unexpected innovations that could have a significant impact on the market, saying that the markets are transitioning from a focus on the value chain to innova

As South Korea’s main bourse continues its upward movement backed by an unprecedented buying spree by individual investors, some analysts said Tuesday warned that it might be overheating. “The level of return on equity calls for a cautious approach at the moment. You could say the market is heading upward for many reasons, but it’s too fast,” said Kim Han-jin, a senior analyst at KTB Investment and Securities. ROE is the rate of return on the capital provided by the c

Credit loans climbed back up in the first week of 2021, fueled by a bullish stock market and eased bank loan rules, data showed Sunday. The total credit loan balance of the major five commercial banks -- KB Kookmin, Shinhan, KEB Hana, Woori and NH Honghyup -- stood at 134.1 trillion won ($122.6 billion) as of Jan. 7, adding 453 billion won from 133.6 trillion won at the end of 2020. The number of new credit loans via overdraft accounts almost doubled from 1,048 on Dec. 31 to 1,960 on Jan. 7.

E& Investment, a South Korean venture capital that specializes in the bio and health care sectors, said Thursday that NeuroBo Pharmaceutical, in which the company owns a 40 percent stake, had acquired a US COVID-19 treatment developer. NeuroBo, a Nasdaq-listed clinical-stage biotechnology company, on Dec. 31 acquired ANA Therapeutics, which is developing a treatment for COVID-19 that is currently in phase two and three clinical trials.  “This is an exciting and transformative

An estimated 10 million retail investors, a weak dollar and hope for recovery pushed the benchmark Kospi above the 3,000-point threshold on Wednesday in what could be a new era for the local stock market. Analysts say many factors have driven the rally, including the weak dollar and anticipation for improved corporate earnings, but the biggest force may be legions of small investors, known locally as “ants.” The “ant warriors,” who purchased 60 trillion won ($52.22 bi

SK Biopharmaceuticals shares plummeted as much as 10 percent Monday as almost 5 million shares were released after a lock-up period. Shares in the pharmaceutical company declined 8.58 percent to close at 154,500 won ($142) after plunging as much as 10 percet during trade as the last batch of shares that were locked in after the initial public offering were freed to the market. The benchmark Kospi rose 2.47 percent to 2,944.45 points on Monday.  Over 4.9 million additional shares held by

K bank, South Korea’s first internet-only bank, said Monday that it had revamped its mobile application to provide tailored services to its customers. Designed as a personal finance platform, the app operates an open banking system that allows users to transfer and withdraw money from accounts registered at separate banking institutions. Once a customer logs in, the main page of the K bank app displays the list of all accounts held by that customer. Customers can also personalize the

The number of employees with total paychecks exceeding 100 million won ($91,400) reached a record high of 852,000 in 2019, up some 50,000 from the previous year, data showed Tuesday. According to the National Tax Service, earners of over 100 million won accounted for 4.4 percent of the total 19.17 million salaried workers. An employee here earned 37.4 million won on average, before tax, last year, rising 2.7 percent, or 970,000 won, from 2018. Those who reported non-salary financial income

Consumers who order more than 20,000 won ($18.30) on designated delivery apps with a credit card will get 10,000 won as a cash back reward or discount, the government said Tuesday. Currently, seven delivery apps including Baedal Minjok, Yogiyo, Payco and Coupang Eats are participating, and four more apps are expected to join as soon as they complete system maintenance. 　 Payments have to be made on the delivery apps with credit cards issued by nine card companies -- KB Kookmin, NH Nonghyup,

A state visit to South Korea by the Chinese leader and the recovery of the world’s second-largest economy will improve trade and business ties between the two countries next year, a report suggested Monday.　 Comparing business sentiment between the two countries on a timeline, the Federation of Korean Industries said the relationship could get better than it was in 2016, just before the two started to bicker over the US decision to deploy an anti-missile system on Korean soil. The report

The world of venture investments is largely constrained to experts like venture capitalists and entrepreneurs who are well-versed in the industry. But what if the role of finding promising startups was extended to everyday people? This is exactly what Ho Chang-seong and Moon Ji-won, the co-founders of TheVentures, a South Korea-based investor and incubator for early-stage startups, did with their Impact Collective, a community-driven accelerator program. Launched this year, Impact Collective,

What would you think of a friend who earns $2,000 a month but spends $3,500? Most people would see it as an unsustainable lifestyle bound for bankruptcy. In his latest book “There is no second earth,” which addresses climate issues in a palpable way, TV personality Tyler Rasch compares the status of humanity’s exploitation of nature with that spendthrift friend. He warns that we are all debtors to the earth because we are using resources 1.75 times faster than the rate at wh

“I’m very excited about this year, which will be the first year our beverage has truly made a foray into the US market,” Jo Un-ho, CEO of Hite Jinro Beverage, said in a recent interview. Hite Jinro Beverage is a subsidiary of Korea’s leading liquor conglomerate Hite Jinro and produces the group’s nonalcoholic drinks, including purified water and various tea products. This year, the company extended its market by adding US grocery chain Trader Joe’s as a ne

  4EN is a South Korean startup with an ambition to become Asia’s largest greenhouse gas reduction initiative. The company aims to tackle the climate change problem using sustainable businesses ideas such as mitigating greenhouse gases and reducing toxic agricultural by-products, produces solid fuel, organic fertilizers, and bioplastic from coffee grounds and agricultural by-products, such as peanut shells. Up until a few years ago, the 9-year-old company was best-known for coff