Woori Bank data leak affects 17,551 customers

The personal information of 17,551 Woori Bank customers was leaked after an employee at an external software developer retained customer data without authorization and uploaded it, the bank said Friday. The leaked information included connecting information, or CI, an encrypted identifier used to verify individuals online, as well as customer nicknames. Phone numbers, resident registration numbers and home addresses were not compromised, according to the bank. The affected customers had expresse

2026-07-05 13:41:19:00

AI to boost Korea growth, but demand remains key: S&P

S&P Global Ratings said South Korea's government-backed artificial intelligence push is likely to support economic growth over the next few years, but warned that the long-term payoff depends on whether demand ultimately matches expectations. "The near-term impact is clearly positive because today's investment translates into capital spending and economic growth," said Kim Eng Tan, managing director of S&P Global Ratings' Asia-Pacific sovereign ratings team, in an interview with The Korea Herald

2026-07-02 14:33:13:00

Hanwha, MarcyPen launch fund platform for K-culture brands

Hanwha Asset Management and US-based MarcyPen Capital Partners have launched MarcyPen Asia, a joint venture aimed at investing in high-growth consumer brands in South Korea and across Asia. First announced in December 2025, the venture was launched after receiving regulatory approval. It will use Korea as its regional base to identify companies with strong cross-cultural appeal and global expansion potential. MarcyPen Asia will invest in consumer brands tied to cultural content, products and exp

2026-07-02 14:33:00:00

Korea's earnings increasingly hinge on chips: S&P

South Korea's corporate earnings are becoming increasingly dependent on semiconductors, even as the AI-driven chip boom is expected to continue through at least 2028, S&P Global Ratings said Tuesday. "Corporate earnings have been very strong this year, but the picture varies significantly across sectors," said Jeremy Kim at a Seoul briefing. "Growth is concentrated in semiconductors, while most other sectors are either growing modestly or remain under external pressure," he said, describing this

2026-06-30 15:09:49:00

Binance's 50x Korea stock trades expose regulatory blind spot

Binance, the world's largest cryptocurrency exchange, is offering derivatives with leverage of up to 50 times on Samsung Electronics and SK hynix, raising concerns over investor protection and potential spillover risks for Korea's stock market. The products come as investors are already debating the risks posed by newly launched 2x leveraged exchange-traded funds tied to the two chipmakers on the Kospi. According to industry sources on Monday, Binance launched SAMSUNGUSDT, SKHYNIXUSDT and HYUNDA

2026-06-29 15:22:46:00

Mirae Asset launches global investment platform MAPS in Hong Kong

Mirae Asset Securities' Hong Kong unit on Monday launched MAPS-- Mirae Asset Portfolio Service -- global investment platform that allows users to trade traditional financial products and digital assets through a single mobile app. The platform is the first product introduced under the brokerage's "Mirae Asset 3.0" growth strategy and consolidates the firm's country-specific mobile trading services into a single global ecosystem. Drawing on Mirae Asset's mobile trading experience in Korea, India,

2026-06-29 14:48:02:00

Kospi whipsaws again, sliding 6% as chip sell-off rattles market

South Korean stocks tumbled Friday, erasing the previous session's chip-fueled rally, as the Kospi slid nearly 6 percent and triggered another circuit breaker amid mounting concerns over extreme market volatility The benchmark Kospi fell 519.09 points, or 5.81 percent, to close at 8,411.21 after dropping as much as 8.19 percent during the session. The tech-heavy Kosdaq lost 36.44 points, or 4.1 percent, to 851.37. The sell-off triggered a sell-side sidecar at 11:12 a.m. after Kospi 200 futures f

2026-06-26 17:27:51:00

Foreign investors dump record W47tr in Korean stocks in May

Foreign investors dumped a record 47 trillion won ($30.6 billion) of South Korean stocks in May, yet their market ownership climbed to an all-time high as the Kospi rally lifted the value of their remaining holdings. According to the Financial Supervisory Service on Friday, foreign investors sold a net 49 trillion won on the Kospi while buying a net 2 trillion won on the Kosdaq, according to the regulator's monthly foreign securities investment report. Net selling over the first five months of t

2026-06-26 16:58:27:00

Kospi triggers circuit breaker after plunging more than 8%

South Korean stocks triggered a marketwide circuit breaker on Friday after the Kospi plunged more than 8 percent in intraday trading, capping a volatile week marked by sharp swings in chip-heavy shares. The Korea Exchange suspended trading on the Kospi market for 20 minutes from 12:10 p.m. after the benchmark index remained more than 8 percent below the previous session's close for one minute, meeting the conditions for a circuit breaker. Trading in all Kospi-listed shares, as well as stock inde

2026-06-26 14:56:44:00

NPS could sell up to W74tr in stocks if Kospi tops 9,000

South Korea's National Pension Service could sell as much as 74 trillion won ($47.9 billion) of domestic equities if the Kospi rises above 9,000, according to estimates from South Korea's financial investment industry. Potential selling could climb to 121 trillion won, should the benchmark index reach 10,000 points. The estimates come as foreign and retail investors have turned net sellers after the market's sharp rally. According to South Korea's financial investment industry on Friday, domesti

2026-06-26 14:44:46:00