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Finance

KOSPI enters pause as financial sector faces pressure for inclusive finance

South Korea’s stock market has surged on an AI semiconductor rally, pushing the KOSPI above 8,000 for the first time and lifting market value to sixth in the world, ahead of Taiwan. Brokerages posted strong first-quarter results as trading rose. Caution is also growing over volatility after the sharp run-up. Separately, “inclusive finance” has emerged as a key issue as banks and financial groups face pressure to expand support for vulnerable borrowers and strengthen public responsibility.

Crypto

Stablecoin land grab intensifies as banks and fintech form alliances

South Korea\'s finance and fintech sectors are stepping up competition to pre-empt the stablecoin market even as legislation remains stalled in parliament. Banks are moving to secure issuance rights through consortia and technology partners, while fintech firms and exchanges focus on controlling mainnets and payment networks. Global players are also positioning in networks and settlement infrastructure. The article says the battle for won and dollar stablecoin leadership is already under way.

Finance

Hecto Financial opens pre-registration for CPN global remittance ahead of July launch

Hecto Financial said on May 13 it has begun taking pre-registrations for its “CPN Global Service” for overseas remittances, based on Circle’s Circle Payments Network (CPN), ahead of a July launch. The service targets financial institutions, fintech companies and corporations holding USDC that want to use CPN. Pre-registered companies will be able to use it immediately after launch. Hecto Financial said it will support regulatory reviews including anti-money laundering checks.