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South Korea Fines Global Banks for Illegal Naked Short Selling
Finance & Economics

South Korea Fines Global Banks for Illegal Naked Short Selling

South Korea has decided to impose a total fine of 26.5 billion won ($20.4 million) on two global investment banks and a local unit of an international company for involvement in naked short selling.

Ant Group Partners PayNet for Cross-Border Digital Payments
Fintech & Ecommerce

Ant Group Partners PayNet for Cross-Border Digital Payments

Travellers with Ant Group’s Alipay+ partner e-wallets from China, Hong Kong, Philippines, Mongolia, Macau, Japan, South Korea and Thailand can now make QR payments at over 1.8 million PayNet’s DuitNow touchpoints across Malaysia

Samsung Competes With SK Hynix for Leadership in AI Sphere
News

Samsung Competes With SK Hynix for Leadership in AI Sphere

The dynamic of changes in the value of shares of Samsung Electronics Co. currently demonstrates a movement in the direction of giving way to similar indicators of a smaller competitor of this company in the sphere of memory chip production SK Hynix, which is currently actively developing against the background of the bet of many […]

South Korea’s Nand Flash Memory Chip Exports Show Growth
News

South Korea’s Nand Flash Memory Chip Exports Show Growth

According to the results of last month, an increase in South Korean exports of Nand flash memory chips was recorded.

Samsung Reports Slowing Fall in Profits
News

Samsung Reports Slowing Fall in Profits

Samsung Electronics reported on the preliminary results of operations for the third quarter of 2023, which showed a less intense decline in profit compared to the expected figure.

South Korean Bank to Launch a Joint Crypto Custody Project With BitGo
News

South Korean Bank to Launch a Joint Crypto Custody Project With BitGo

KEB Hana Bank and BitGo are preparing to offer joint digital asset custody services

SK Telecom Invests Additional $100M in Anthropic AI
News

SK Telecom Invests Additional $100M in Anthropic AI

In addition to the investment, South Korea’s telecom operator has entered into a partnership agreement with AI provider Anthropic to build a large language model (LLM) customized for telcos

Samsung Cuts in Memory Chip Production
News

Samsung Cuts in Memory Chip Production

Samsung Electronics continues to implement a strategy to reduce the production of memory chips, including NAND flash memory, which is used in smartphones and computers.

Levit Raises $46 Million
Fintech & Ecommerce

Levit Raises $46 Million

Seoul-based e-commerce company Levit, the operator of the Alwayz shopping app, announced the raising of investment funds for $46 million following the results of the Series B financing round.

OpenAI CEO Calls For Global Cooperation to Regulate AI
News

OpenAI CEO Calls For Global Cooperation to Regulate AI

Sam Altman, CEO of OpenAI, during a visit to South Korea on Friday, June 9, called for coordinated international regulation of the process of development and dissemination of generative artificial intelligence.

Korean Prosecutors Seek Crypto Millions Tied to Do Kwon and TerraUSD
Blockchain & Crypto

Korean Prosecutors Seek Crypto Millions Tied to Do Kwon and TerraUSD

The South Korean prosecutor’s office said that Do Kwon, after his arrest at the end of March, was able to withdraw tens of millions of dollars from an organization that is associated with his blockchain project, which suffered a crushing failure.

Samsung and Bank of Korea Collaborate on Offline CBDC
Fintech & Ecommerce

Samsung and Bank of Korea Collaborate on Offline CBDC

The media reported that Samsung is currently working with the Bank of Korea to create a central bank digital currency (CBDC).

From Traditional to Modern: A Journey into the Profitable World of Korean Art
Articles

From Traditional to Modern: A Journey into the Profitable World of Korean Art

The art world is in a constant state of flux, as collectors and investors seek to diversify their collections and new markets continue to emerge. One such market that has gained considerable attention in the last few years is Korean art, encompassing both traditional and modern paintings.

Korean Fintech Kakao Pay to Acquire Majority Stake in US Brokerage Firm Siebert
News

Korean Fintech Kakao Pay to Acquire Majority Stake in US Brokerage Firm Siebert

Kakao Pay, the online payment service of the South Korean messenger and Internet giant Kakao, announced the acquisition of a stake in Siebert Financial, a brokerage firm based in New York.

South Korea Fines Google $32 Million
Society & Lifestyle

South Korea Fines Google $32 Million

The South Korean Fair Trade Commission (KFTC) fined Alphabet’s Google 42.1 billion won ($32 million).

Samsung Plans to Cut Memory Chip Production
News

Samsung Plans to Cut Memory Chip Production

Samsung Electronics has announced its intention to reduce the production of memory chips.