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Finance

Toss pursues acquisition of Cheer Securities to enter Japan financial market

Viva Republica, operator of South Korean fintech app Toss, is pursuing an acquisition of Japan’s Cheer Securities to enter the local financial market, industry sources said. The company plans to buy all shares of the Tokai Tokyo Financial Group unit through an overseas business company based in Singapore. Nihon Keizai Shimbun estimated the deal at around 4 billion yen, and the purchase is expected to be completed in fiscal 2026.

Finance

KB Financial nine-month net profit nears 5.8 trillion won, up 13.1 percent

KB Financial Group posted nearly 5.8 trillion won in net profit for the first nine months, lifted by higher fee income at its securities and banking units. The group said profit rose 13.1 percent from a year earlier, though third-quarter net profit fell 4.3 percent from the previous quarter as stock trading value declined and higher market rates weighed on non-interest income. Fee income surged year-on-year, while third-quarter non-interest income dropped sharply.

Finance

Financial regulator tightens rules on brokerage cash giveaways and events

South Korea\'s Financial Supervisory Service will ban events that pay cash or prizes in proportion to stock trading amounts and will curb reward-type marketing for high-risk investment products such as overseas stocks and leveraged products. The FSS and the Korea Financial Investment Association said they will strengthen rules on providing financial benefits to investors to promote fair competition and prevent harm. Fee and interest discounts will remain allowed. The new rules are set to take effect on Jan. 1, 2027.