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Finance

Middle East-led oil and currency shock raises uncertainty in financial markets

South Korea\'s financial markets are seeing sharp volatility as a Middle East-driven oil shock sends the KOSPI plunging and lifts uncertainty. Concerns over prolonged high oil prices have pushed the won-dollar exchange rate up to 1,500 won, widening stock-market swings and prompting warnings about overheated leverage as some credit trading is halted. Regulators, banks and brokerages are stepping up risk management, while authorities also move to crack down on unfair trading and strengthen preventive supervision.

Finance

KB Kookmin Bank commits 500 billion won to KB Kookmin Growth Infrastructure Fund

KB Kookmin Bank said on Wednesday it signed an agreement to commit 500 billion won to the 1 trillion won KB Kookmin Growth Infrastructure Fund. The blind fund, established and managed by KB Asset Management, will be financed entirely with KB Financial Group funds, with KB Insurance and KB Life also participating. It adopts a perpetual closed-end structure and plans to invest in digital, energy, renewable transition and regional SOC projects.