Finance

KOSPI triggers sell sidecar for second straight session

A sell sidecar was triggered on South Korea's main stock market on May 18 after the KOSPI slid more than 3 percent in early trade. Korea Exchange said it activated a temporary halt on program trading sell orders at 9:19:22 a.m. The mechanism is designed to limit spillover from sharp futures declines into the spot market. It triggers when KOSPI 200 futures fall at least 5 percent for 1 minute and suspends program sell orders for 5 minutes.

Finance

NHN KCP builds payment infrastructure for CJ Olive Young's Olive Point

NHN KCP is building payment infrastructure for CJ Olive Young’s in-house membership points programme, Olive Point, as it seeks to expand the prepaid payment market. The company said on May 18 it will supply CJ Olive Young with a payment solution based on prepaid electronic payment instruments. NHN KCP will link customers’ accumulated points to its payment system for safe use like cash. The two companies also plan to expand cooperation in prepaid payment services.