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Monday, January 22, 2018

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Controversy over regulation of cryptocurrency is heated up ahead of the Korean government’s decision on it.
Necessary Evil?
13 December 2017 - 10:45am
The South Korean government is planning to ban crytocurrency trading as its negative effects increase. Some experts point out such regulations will cause South Korea to fall behind in the blockchain...
The Korea Development Bank (KDB) will not only stop opening new virtual accounts for digital currency exchanges but also close virtual accounts opened from early next year.
Closing Virtual Accounts
13 December 2017 - 9:45am
The Korea Development Bank (KDB) will stop all the businesses related to cryptocurrency transactions, including bitcoin, from January next year. According to the KDB on December 12, the bank will not...
Financial Services Commission (FSC) Chairman Choi Jong-ku stressed that the FSC will never approve exchanges of crytocurrencies nor introduce futures trading of them in a luncheon meeting with reporters in Seoul on Dec. 11.
Confirming Conservative Stance
12 December 2017 - 9:15am
“I don't see bitcoin transactions as financial deals," Financial Services Commission (FSC) Chairman Choi Jong-ku said in a luncheon meeting with reporters in Gwanghwamun, Seoul, on December 11. "When...
Lee Chang-ki (right), head of the Fintech Business Department at NH Nonghyup Bank shalkes hands with David Rutter (left), chairman of R3CEV.
Blockchain-based Banking
11 December 2017 - 11:45am
NH Nonghyup Bank announced on December 8 that has joined R3CEV, the world's largest block-chain consortium. R3CEV is a consortium of global financial companies with a focus on R3, a Blockchain...
KB Kookmin Bank Lee Hwan-ju (left), head of the Foreign Exchange Business Division of KB Kookmin Bank pose with Edmundo Soriano, vice president of BDO Unibank after signing an agreement in the Philippines on Dec. 6.
Banking Alliance with BDO Unibank
11 December 2017 - 11:45am
KB Kookmin Bank announced on December 8 that the bank signed a business agreement with BDO Unibank on December 6 and promised to provide high quality financial services to Korean residents in the...
After Samsung Heavy Industries announced. on Dec. 6, its plan to raise 1.5 trillion won (US$1.37 billion) by selling new shares and expected to post an operating loss next year, shipbuilding stocks have been on the decrease.
Excessive Concerns?
11 December 2017 - 11:15am
The “Samsung Heavy Industries shock” made nearly 4 trillion won (US$3.65 billion) of major shipbuilding stock market caps disappear in the last three days. Some express concerns over poor performance...
The price of one bitcoin stood at 14,829,000 won (US$13,542) as of 2:50 pm on December 10, which dived about 40 percent in two days.
Plunged Bitcoin Prices
11 December 2017 - 10:45am
Sky-high bitcoin prices are plunging due to the concerns over futures trading and the news of the introduction of the regulations. According to cryptocurrency exchange giant Bithumb on December 10,...
KDB chairman Lee Dong-geol plans to visit China this week and sign a memorandum of understanding (MOU) for the currency swap contract with the ICBC.
Currency Swap for SMEs
11 December 2017 - 9:45am
The Korea Development Bank (KDB) will sign a US$200 million (219 billion won) currency swap agreement with the Industrial and Commercial Bank of China (ICBC), the world’s largest commercial bank in...
Chinese investors have strategized to solidify their positions in the global Industry 4.0 by directly investing in Korea's future industries including bio startups.
Revival of Chinese Investment
8 December 2017 - 10:45am
Some analysis says that Korea’s future visions for the 4th industry attract to Korea. Chinese investors have strategized to solidify their positions in the global 4.0 Industry by directly investing...
The bitcoin price in South Korea stood at US$17,065 (18.67 million won) on December 7, which was 3.57 million won (US$3,262), or 23.6 percent, higher than US$13,799 (15.1 million won) in the US.
Abnormally Heated
8 December 2017 - 9:45am
In the South Korean cryptocurrency exchange market, bitcoin is being traded with over 3 million won (US$2,741). Accordingly, market experts express concerns that this is an abnormal overheating...
South Korean financial regulators have decided to place a ban on the bitcoin futures trading.
Trade of Bitcoin Futures
7 December 2017 - 11:00am
The Financial Services Commission of Korea issued the directive that bans securities firms from intermediating bitcoin futures transactions, according to securities industry sources on December 6....
Foreign Investors continue to purchase the Korean won as they believe that South Korean government will not intervene in the foreign exchange market.
Betting on Korean Currency
6 December 2017 - 10:15am
Investors continue to purchase the Korean won as they believe that South Korean government will not intervene in the foreign exchange market, though the won-US dollar exchange rate reached its two-...

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