In February this year, the Korea Exchange, South Korea’s market operator and stock index developer, birthed the KRX 300 benchmark index that represents the tiered stock market in Korea. The KRX unveiled the mid-cap index called KRX Mid 200 in June, comprising constituents from the top-tier Kospi and second-tier Kosdaq, and released plans for another index for small caps in the near future. The moves aimed to balance institutional influx into tiered stock markets in Korea and enable investo

North Korea’s annual real gross domestic product in 2017 retreated 3.5 percent on-year, marking the sharpest fall in over 20 years, as sanctions on the North appear to have taken a toll on its exports, data showed Friday. This comes in contrast to the secluded state’s 3.9 percent on-year economic growth in 2016, according to data compiled by the Bank of Korea. The degree of decline is the steepest since 1997, when the real GDP decreased by 6.5 percent on-year.The central bank cited a

A South Korean company’s proclaimed discovery of the armored Russian cruiser Dmitrii Donskoi that was scuttled off the sea near the Korean islet Ulleungdo in 1905 has disrupted local stock market.The stock price of Jeil Steel Mfg, a rolling steel product maker listed on the second-tier Kosdaq, fluctuated throughout this week on the rumored connection with Shinil Group, the Korean company that claimed to have found the sunken vessel.  Jeil Steel Mfg sank 20.5 percent Thursday in closin

South Korean cybersecurity service provider Raonsecure has launched an education solution to help students hone skills to identify security flaws and defend against hacking attacks, according to the company Thursday. Dubbed Raon Capture the Flag, the education service consists of a curriculum inspired by a mock hacking test scheme. Raonsecure’s in-house white hat hacker center called Raon Whitehatcenter took part in developing the solution, according to Raonsecure. White hat hackers refer to eth

South Korea’s Securities and Futures Commission on Wednesday approved SK Holdings’ 51.5 billion-won ($45.6 million) deal plan, putting the matter up for final regulatory decision by the top regulator, the Financial Services Commission. SK Holdings’ deal is designed to sell off its controlling stake of brokerage house SK Securities to local private equity firm J&W Partners. As the SFC approved the eligibility of J&W Partners as the securities firm’s major sharehold

The South Korean district court has issued an arrest warrant for Ra Jeong-chan, chief executive of Korean biotech firm Nature Cell, on allegations that he manipulated stock market using false and misleading company information since 2017. This came after the prosecution sought an arrest warrant against Ra on Friday. Ra has been under custody for interrogation since Tuesday. The company said in a disclosure Wednesday it has nominated an acting CEO, adding that no allegations had been proven.Ra is

Following an inter-subsidiary acquisition, Kakao Friends, a character licensing subsidiary of mobile software giant Kakao, changed its name to Kakao IX on Wednesday. Kakao IX is short for Kakao Innovative eXperience. Other than selling goods that use Kakao’s intellectual property for characters, Kakao IX will serve as a documentary magazine publisher, food and beverage brand owner and real estate developer, the company said. (Kakao IX)This came after Kakao Friends on July 2 took over Joh & Co.,

Panelists from academic circles at a roundtable discussion Monday called on financial authorities to lower the regulatory bar for South Korea’s digital banks, which face difficulties in launching new financial services due to failures in raising capital.Among issues at debate were calls to ease regulation on nonfinancial firms’ maximum ownership of banking firms, with some panelists saying such a regulation is outmoded. The ban was put in place to prevent companies from using banks a

K bank, South Korea’s first online-only bank, has come under financial pressure over its failure in capital increase through issuing new stocks, as pledged in May. By Thursday, K bank shareholders were scheduled to buy 24 million newly issued common stocks and 6 million convertible preferred stocks without voting rights, worth a combined 150 billion won ($132.4 million). Of the total pledges with 5,000 won per share, only 30 billion won for the convertible securities purchase had been paid

Mirae Asset Global Investments, a South Korean asset management company, has harvested returns of over 20 percent a year in its stock funds dedicated to investing in innovative firms, the company said Sunday. Mirae Asset G2 Innovator Fund, investing in innovative companies in the United States, China and Taiwan, has generated some 33.02 percent of yearly returns, the highest among all Korean stock funds, according to an estimate by fund evaluator KG Zeroin on Wednesday. The secret behind the yie

It is the brand and design that can seem most alluring when making choices of sneakers or gym shoes. But it is the evolving chemical technology that silently has led the popularity of shoes on rubber soles, pushing the limits of people every day from fitness enthusiasts to fashionistas on the streets.People clad in running shoes jog on pavement. (123rf)The springy footwear has optimized the experience of runners and pedestrians alike, cushioning impact from the ground and returning energy to the

The Korea Blockchain Association on Wednesday gave a nod to the cybersecurity standards of 12 cryptocurrency exchanges in Korea, including major players such as Bithumb, Coinone, Korbit and Gopax. This came over two months after the association launched a self-regulatory inspection in May of 14 member exchanges among the total 23, upon agreement by the exchanges.Exchanges that gained self-regulatory affirmation were 12 out of 14: Dexko, Hanbitco, OKCoin Korea, Huobi Korea, Bithumb, Upbit, Neofra

The Korea Herald is publishing a series of interviews on promising startups in the financial technology industry. This is the 18th installment. -- Ed.　An online crowdfunding platform is a marketplace of ideas. And equipping that marketplace with a convenient payment tool is obviously key for the involved parties -- fundraisers with an idea and backers buying into the idea.For sponsors on Tumblbug, a startup operating an online rewards-based crowdfunding platform for content creators since 2011,

The International Insurance Society has selected co-authors of “Digital Agendas in the Insurance Industry: The Importance of Comprehensive Approaches” as the winners of Shin Research Excellence Award this year, according to Kyobo Life Insurance Tuesday. Recipients of the annual award in 2018 are Alexander Bohnert and Albrecht Frizche, both professors at Friedrich-Alexander University in Germany, and Shirley Gregor, a professor at Australian National University.  The prize was gi

Woori Bank has become South Korea’s first commercial bank dedicated to impact investing to create a quantifiable social and environmental impact along with financial gains. Woori Bank will invest 5 billion won ($4.5 million) into the private investment fund co-managed by Crevisse Partners and Lime Asset Management for 10 years, according to an announcement Monday. The 20 billion won impact equity fund will become Korea’s first impact investment fund, if launched in July as planned. O

South Korea‘s state-owned Land and Geospatial Informatrix Corporation (LX) said Monday it won high ratings in a performance evaluation on Korean state-owned enterprises and quasi-public institutions for its “public-friendly” policies in 2017. LX headquarters in Jeonju, North Jeolla Province (LX)Of 123 institutions assessed by the Ministry of Strategy and Finance, the LX was one of the three in Korea that earned grade A in evaluation both on a curve and by absolute values, according to the state-

This is the 58th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Aurora World Corporation, the South Korean plush toy manufacturer and supplier most-known for its global toy line “YooHoo & Friends,” is anticipating a leap forward in the second half of this year.A three-dimensional version of YooHoo & Friends computer-animated television adaption targeting 4 to 8-year-olds is set to be streamed through Netflix in the second half

Representatives from South Korean financial investment companies have discussed ways to boost ties with Indian capital market officials and to explore Korean investment opportunities in India during their four-day trip to the country.The team of representatives, composed of chief executives of three securities firms -- Daishin, IBK and Hanwha -- four asset management firms -- Samsung, Shinhan BNP Paribas, Kiwoom and Mirae Asset -- as well as Kwon Yong-won, head of the Korea Financial Investment

South Korea is bracing for the impact of the opening blows in the United States’ trade war with China, while playing down the possibilities of immediate setbacks. Starting Friday at 1 p.m. Korean time, the US implemented 25 percent tariffs on $34 billion of Chinese trade. Immediately after the move, China vowed swift retaliation, calling the tariffs “typical trade bullying.” Prior to the US-China tit-for-tat, Asia’s fourth-largest economy at 8:15 a.m. held a pan-governmen

The looming US import curbs including tariffs and quotas on South Korean goods are expected to take a toll on Korea’s economic indicators, a report showed Thursday.In the wake of regulatory measures starting this year on steel, washing machines and solar cells, Seoul is likely to see some $2.5 billion cut in exports and 16,000 potential job losses here and abroad.  According to a report released by the National Assembly Budget Office, a Korean steel import quota to the US -- equivalen