July 27, 2021

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EDITOR'S PICKS

• Markets 
  

  [Feature] From cows to Rolex, young investors in Korea eye new alternative investment

  High liquidity in the market has led some young retail investors on relatively small budgets to look into unconventional, and perhaps “fun,” ways of investing. By joining fractional investments in such areas as livestock and limited-edition Rolex watches, they expect somewhat stable returns, rather than entirely relying on volatile stock markets or cryptocurrencies that carry higher risks, according to industry insiders. What makes this new way of alternative investing possible are

• Markets 
  

  Deferred loan payments for businesses total W108tr under COVID relief program

  Deferred loan and interest payments owed by businesses hit by the COVID-19 pandemic in South Korea added up to an alarming 108 trillion won ($97 billion) this month, data showed on July 25. Since the launch of the deferral program in February last year, the combined amount of loans yet to be repaid totaled 99.7 trillion won as of July 23, data provided by the five major commercial banks here showed. Additionally, overdue payments set to be paid in installments amounted to 8.4 trillion won and o

• Markets 
  

  Central bank digital currencies, crypto will coexist: experts

  Government-backed coins and private cryptocurrencies will coexist for a while, despite rising regulatory walls set by the government to counter virtual coins, experts at a global webinar session said on July 22.　 Noting that cryptocurrencies and digital currencies by governments are “two different animals,” they will coexist for now partly because current cryptocurrencies are not actually solving payment problems. “How many of them (cryptocurrencies) are solving actual pa

• Markets 
  

  Kakao looks to join W100tr club with financial subsidiaries’ IPOs

  The combined market capitalization of Kakao and its affiliates is anticipated to reach 100 trillion won ($86.8 billion), as South Korea’s fifth-largest business group’s two financial subsidiaries ready themselves for initial public offerings. 　 As of July 23’s closing bell, the mobile messenger giant and its two listed affiliates, Kakao Games and Neptune, marked an aggregate market cap of 74.84 trillion won, according to the Korea Exchange on July 25. Of that total, Kakao&rsqu

• Markets 
  

  Eximbank to invest W100b into future mobility business

  The state-run Export-Import Bank of Korea said on July 25 it will invest 100 billion won ($87 million) in future mobility businesses to ensure local firms can gain an upper hand in those fields amid a rapidly changing global market. The areas in which it will allocate investments include electronic, hydrogen-fueled or autonomous driving cars, urban air mobility, eco-friendly vessels and aerospace crafts. The lender made the investment decision in line with the government-led Korean New Deal in

• Markets 
  

  KakaoBank’s blockbuster IPO draws record-breaking bid

  KakaoBank, South Korea’s largest internet-only bank, set a record on July 22 in the initial public offering market history here, having attracted keen attention from investors both at home and abroad ahead of its market debut on the country’s main board Kospi next month. The banking arm of mobile giant Kakao wrapped up its book-building process on July 21. While institutional investors placed their bids to obtain new shares for the IPO, a total of 1,667 domestic and offshore instit

• Markets 
  

  Baemin Hyundai Card attracts 100,000 users

  Baemin Hyundai Card, a food delivery-focused private label credit card product, has attracted over 100,000 users in eight months since the launch in November, card issuer Hyundai Card said July 22. Card users are to redeem reward points in the form of “Baemin points,” which can be used like cash exclusively for food delivery orders through Baemin, South Korea‘s largest food delivery app. Baemin Hyundai Card users have food delivered through the Baemin app an average of 9.2 t

• Markets 
  

  Authorities to tighten grip on unregistered overseas crypto exchanges

  South Korea‘s top financial regulator is considering disciplinary measures against overseas cryptocurrency exchanges that are not registered with the nation’s anti-money laundering body, according to the National Assembly‘s National Policy Committee on July 22. “Business activities carried out by overseas cryptocurrency exchanges targeting local customers without reporting to the Financial Intelligence Unit -- an anti-money laundering unit under the Financial Services Co