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Finance

Lee Eok-won says retail investment limits may be reviewed if single-stock leverage overheating persists

South Korea's financial authorities may review additional regulation, including per-investor limits, if demand for single-stock leveraged products does not cool after existing measures. Financial Services Commission Chairman Lee Eok-won said policy effects such as tougher basic deposits taking effect from July 31 will be checked first. Possible follow-up steps include limiting such products to 20 percent of a person's financial investment holdings, adding trading and training requirements, and adjusting rebalancing and liquidity provision practices.

Finance

KOSPI plunges more than 8 percent; eighth circuit breaker this year

South Korea’s KOSPI slumped more than 8 percent on Monday, triggering a Level 1 circuit breaker on the main board, its eighth activation this year and the 14th on record. The Korea Exchange said the index fell 542.24 points to 6,213.51 from the previous close of 6,755.75, setting off the mechanism at 10:13 a.m. Trading and order-taking were halted for 20 minutes.

Industry

BYD to hire 9,000 at two China plants as overseas sales outpace domestic demand

BYD is hiring about 9,000 new workers at production bases around Shenzhen and Shantou in China’s Guangdong province, as it moves to expand capacity amid rapidly growing overseas sales. Recruitment will cover an Ebu parts plant and a Xiaomo vehicle plant, including multiple business divisions and production roles. The Sanshan auto industrial park is a key BYD hub producing models for domestic sales and exports. BYD’s June overseas sales rose 94.7 percent from a year earlier to 175,349 vehicles.