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Finance

Woori Investment Securities Jan-Sept net profit up 27.3 percent to 28 billion won

Woori Investment Securities\' net profit for January to September rose 27.3 percent from a year earlier to 28 billion won, while year-to-date net operating revenue increased 46.0 percent to 203 billion won, Woori Financial Group said. Third-quarter net profit fell 72.7 percent from the previous quarter to 3 billion won as non-interest income dropped. Costs rose year-to-date, with loan loss expenses up 105.3 percent.

Crypto

HSBC launches first Hong Kong dollar stablecoin RedCoin for retail customers

HSBC has launched its first Hong Kong dollar-based stablecoin, RedCoin, for retail customers, The Block reported on Thursday. The stablecoin, RedCoin (RCHKD), can be used on HSBC’s PayMe payments app from Oct. 23. Users will be able to activate a stablecoin wallet within days and use it for person-to-person transfers and payments at more than 100,000 merchants. HSBC is one of three Hong Kong commercial banks authorised to issue Hong Kong dollar banknotes.

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.