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Telecommunications & Media
Broadcast standards panel warns four business channels over stock open chatroom promotion
South Korea\'s Broadcast Media Communication Deliberation Committee issued a statutory sanction of caution to four business TV programmes for repeatedly showing QR codes linking to paid open chatrooms and guiding viewers to join. It said the content amounted to overt recruitment akin to a stock tip room and will be closely monitored. The panel also cautioned two home-shopping broadcasts for presenting a general food product like a health functional food.
Finance
Woori Bank issues foreign currency bonds directly at overseas branches, raises $275 million
Woori Bank said on Tuesday it directly issued foreign currency bonds through four overseas branches in London, Hong Kong, Los Angeles and Singapore, raising a total of $275 million. The bank said the issuance helps branches secure long-term foreign currency funding needed for local business, moving away from reliance on short-term funding. It used an MTN programme and plans to expand branches’ self-funding capacity and lift the programme’s issuance limit to $10 billion by year-end.
Crypto
Mastercard, SoFi team up to introduce stablecoin in card settlement process
Mastercard has begun a test to introduce stablecoins into the settlement process that follows card payments. It is working with U.S. financial services company SoFi Technologies to settle card transactions using a regulated digital dollar, SoFiUSD. The pilot keeps the consumer payment experience unchanged and applies blockchain-based assets only to the interbank settlement stage. SoFi Bank plans to settle Mastercard credit and debit transactions in SoFiUSD, supported by Galileo Financial Technologies.