Coupang makes won stablecoin push with Woori Bank

Coupang has teamed up with Woori Bank to test real-time settlement using won-backed stablecoins, positioning its commerce and delivery network as a potential launchpad for the digital currency. The two companies tested the full payment process in a commercial-like environment, from customer purchases to real-time merchant settlement and conversion between stablecoins and won, Coupang said Monday. In the trial, payments for Coupang Eats orders were transferred to restaurant owners in real time us

2026-07-27 20:23:11:00

Hana Securities opens Korean stock trading to Futu clients

Hana Securities has begun offering Korean stock trading to clients of Hong Kong-based Futu Securities, expanding its push to draw more overseas investors into the domestic market. The service allows nonresident investors to buy and settle Korean shares through Futu without opening a separate account with a Korean brokerage, Hana Securities said Monday. Trading began on a trial basis for preregistered clients in June and was expanded to all Futu customers on Friday. Futu, which operates the Futub

2026-07-27 14:54:28:00

Tokenized SK hynix ADRs cross W100b overseas

Investor enthusiasm for SK hynix's newly listed American depositary receipts is spreading into the crypto market, with the combined market capitalization of tokenized products tracking the ADRs topping 100 billion won ($68 million) globally on Monday. According to CoinMarketCap, four spot tokenized products tracking SK hynix's US-listed shares had a combined market capitalization of $72.8 million as of around 1 p.m. Monday. Overseas crypto platforms have introduced the products since SK hynix's

2026-07-27 14:54:16:00

Market rally lifts Korea's five financial groups to W13tr profit

South Korea's five largest financial groups posted a record 13.12 trillion won ($8.97 billion) in combined first-half net income, marking the first time the total topped 13 trillion won, as a stock market rally boosted brokerage and asset management fees. Combined profit rose 9.7 percent from a year earlier, according to filings released Thursday and Friday. KB Financial Group led with 3.88 trillion won, followed by Shinhan Financial Group at 3.44 trillion won and Hana Financial Group at 2.4 tri

2026-07-24 20:29:30:00

US keeps Korea on FX watchlist despite strong fundamentals

The US Treasury kept South Korea on its currency monitoring list, noting that the won remained under sustained depreciation pressure despite the country's large current account surplus and strong economic fundamentals. In its semiannual foreign exchange report released Thursday, the Treasury retained Korea alongside China, Japan, Taiwan, Singapore, Vietnam, Germany, Ireland, Switzerland and Thailand. The list was unchanged from its January report. Korea met two of the three criteria for inclusio

2026-07-24 11:36:52:00

JB Financial posts record Q2 profit, boosts shareholder returns

JB Financial Group posted a record second-quarter profit on Thursday, supported by solid earnings across its banking and nonbanking businesses, while announcing its largest-ever quarterly shareholder return. Net profit attributable to shareholders rose 5.7 percent from a year earlier to 219.6 billion won ($149.4 million) in the April-June period, marking the group's highest second-quarter earnings on record. First-half net profit also reached a record 385.7 billion won, the company said. JB Fina

2026-07-24 03:35:20:00

Circle warns Korea risks falling behind on stablecoins

South Korea risks falling behind in stablecoins as regulatory uncertainty keeps banks and fintech firms from moving beyond pilot projects, according to Circle's chief strategist. "You can afford to be late to the regulation, but you don't necessarily want to be late to the technology," Dante Disparte, Circle's chief strategy officer and head of global policy and operations, said in an interview with The Korea Herald in Seoul on Thursday. Korea's sophisticated banking and payments infrastructure

2026-07-23 15:54:03:00

SC Bank Korea opens second Priority Private Center in Dogok

Standard Chartered Bank Korea said Wednesday it has opened its second Priority Private Center in Dogok-dong, southern Seoul, as part of efforts to strengthen its wealth management business for high-net-worth clients. The Dogok Priority Private Center, which serves clients with deposits of at least 1 billion won, follows the opening of the lender's first such center in Apgujeong in November last year. The bank said the center is based on Standard Chartered's global private banking model and is de

2026-07-22 17:41:23:00

Should regulators decide how long bank chiefs stay?

South Korea's financial authorities are considering capping financial holding company chairs at two three-year terms, a governance overhaul that could reshape leadership succession at the country's biggest banking groups and reignite debate over regulators' role in corporate governance. Industry reports Tuesday said the proposal would bar chairs from serving a third term, limiting their tenure to six years. It could also require reappointments to win support from at least two-thirds of voting sh

2026-07-21 15:07:07:00

Coupang warehouse fire brought under control after 61 hours

A massive fire at a Coupang logistics center in Incheon was brought under control at around 8 p.m. Monday, about 61 hours after it broke out Saturday morning. Incheon Fire Headquarters said the blaze at Coupang's No. 32 logistics center in Seoknam-dong, Seohae-gu, had been contained. The fire began at 6:54 a.m. Saturday on the sixth floor of the eight-story facility, which has a total floor area of about 299,000 square meters, before spreading to the seventh floor. Firefighters struggled to cont

2026-07-20 20:56:58:00