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Search results for Sept. 29

Finance

Kiwoom Securities promissory note balance up 5.5 times in 9 months, expands 2030 investment

Kiwoom Securities\' retail customer balance in its promissory notes rose more than fivefold in nine months, the company said on Tuesday. As of Sept. 29, the balance stood at 659.6 billion won, up from 120.9 billion won on Jan. 2. Average balances per customer also climbed. Growth was steepest among customers in their 20s, while those in their 30s and 40s also increased holdings. Older age groups still held larger amounts overall.

Crypto

Japan considers stablecoins for childcare and grocery subsidies, eyes onchain shift for government bonds and payment infrastructure

Japan is considering using stablecoins and tokenised deposits for subsidies with restricted uses such as childcare and groceries, while also examining a broader shift to blockchain-based finance. The Financial Services Agency has released minutes from a forum meeting and plans an interim summary in early 2027. Discussions cover programmable functions tied to real transactions, linking onchain and offchain payments, and ensuring payment-system stability and safety.

Finance

Audit 2026: Lawmakers rap five big bank CEOs over hacking response, compensation and loan rates

Chief executives of South Korea\'s five biggest banks faced sharp questioning at a National Assembly audit over loan-rate calculations, personal data leaks and consumer protection. Lawmakers alleged banks offset cuts in add-on rates mandated by a legal revision by reducing preferential rates to raise interest income. KB Kookmin Bank and NH NongHyup Bank were pressed on rate adjustments. KB Kookmin also faced scrutiny over its initial response to a hacking incident, while lawmakers criticised unspent security budgets and compensation systems.