| Mobile Web

All articles List

Finance

KOSPI slides to 8,600 level on foreign selling of 7 trillion won; KOSDAQ rebounds more than 2 percent

South Korea's KOSPI fell on June 4 as heavy foreign selling pushed the index down to the 8,600 level, with major chip shares weakening. The benchmark closed down 162.08 points, or 1.84 percent, at 8,639.41. Individuals and institutions were net buyers, while foreigners sold 7.0 trillion won, marking a 19-session selling streak. The KOSDAQ rose 2.31 percent to 1,049.73, and the won strengthened against the dollar.

Crypto

Coinone launches four-way alliance, declares move beyond exchange to comprehensive finance platform

Coinone said it has brought in Korea Investment & Securities and OKX as new strategic investors and will move beyond a digital asset exchange to a blockchain-based comprehensive financial platform. Under the deal, Korea Investment & Securities and OKX will each take a 20 percent stake to become joint third-largest shareholders, while CEO Cha Myung-hoon will retain 30 percent. Existing shareholder Com2uS Holdings will keep its position.

Finance

Woori Bank to serve as main bank for Korea Social Welfare Mutual Aid Association

Woori Bank will serve as the main bank for the Korea Social Welfare Mutual Aid Association and plans to expand financial support for social welfare workers. The bank said on Wednesday it signed a memorandum of understanding with the association. Under the agreement, Woori Bank will exclusively operate the association’s fund management system for the next 3 years, support stable fund operations and offer financial products and preferential benefits.