Search results for Aug. 20
Finance
K Bank offers up to 5 percent rate in CodeK time deposit event
K Bank is offering preferential interest to customers who sign up for its CodeK time deposit, providing a maximum annual rate of 5 percent. It is also running a draw for cash prizes of 1,000,000 won. The bank said the interest coupon event runs until Aug. 20, offering one randomly selected coupon per customer. The 12-month product applies 3.86 to 5 percent if held to maturity.
Crypto
Mirae Asset clears Korbit takeover as Naver-Dunamu tie-up stalls
South Korea’s antitrust regulator approved Mirae Asset Consulting’s plan to buy a 92.06 percent stake in crypto exchange Korbit for about 133.4 billion won, citing Korbit’s low market share. A separate tie-up between Naver Financial and Dunamu has been delayed again, with Naver pushing back key dates. The article cites Upbit’s market dominance, financial regulatory approvals, potential scrutiny of user protection and AML systems, and possible future limits on major shareholders’ stakes.
Crypto
Exchanges push to cut fee reliance as digital asset results freeze
South Korean digital asset exchanges are accelerating efforts to diversify revenue as trading values fall and profitability weakens. The five biggest won-market exchanges logged $27.8 billion in trading from May 1 to 17, down from earlier months. Dunamu and Bithumb reported sharp first-quarter declines in revenue and operating profit, with trading fees accounting for nearly all sales. Exchanges are expanding partnerships, overseas ventures and Web3 infrastructure, while facing regulatory uncertainty.
