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Crypto

Lucentblock calls for additional licences for fractional investment distribution, weighs legal action

Heo Se-young (허세영), CEO of Lucentblock, called on South Korea\'s financial authorities to grant additional licences for over-the-counter brokerage in fractional investment distribution. He questioned the process by which the Financial Services Commission limited licences to a maximum of two and urged greater disclosure of the basis for the cap. He also raised concerns over how regulatory sandbox businesses are incorporated into formal rules. He said the firm could consider legal action if additional licensing is delayed.

Finance

Hana Securities ties up with Corini to strengthen U.S. property investment services

Hana Securities has partnered with U.S. real estate investment platform company Corini to strengthen global wealth management services for high net worth individuals. The two companies signed a strategic memorandum of understanding at Hana Securities THE Centerfield W in Seoul. Under the agreement, they will cooperate on one-stop U.S. property investment solutions, share overseas property investment information and bolster advisory services, while also seeking new business opportunities through their client networks.

Finance

Korean financial groups post third-quarter results as stock market outlook hits zero visibility

Korean financial holding firms and banks continued to release third-quarter results, with Woori Bank posting its biggest quarterly net profit on record and Hana Financial Group lifting year-to-date profit on higher fee income. Brokerages faced weakening profitability as trading value fell and market rates rose, adding valuation loss pressure in trading. The Bank of Korea held its policy rate at 3.00 percent, while competition in retirement pensions and expanded support for small firms continued.