Korea Credit Data, a South Korean startup providing accounting software to small and mid-sized companies, will embark on a project to develop a blockchain-powered solution for SMEs, the company said Friday. Dunamu, operator of Korea‘s largest cryptocurrency exchange Upbit, will coordinate with KCD to develop the blockchain solution to lower procurement cost and help SME operators get easier acce...

South Korea’s stock markets ended higher Friday in the wake of a historic inter-Korean summit that signaled the path to denuclearization of the Korean Peninsula. The top-tier Kospi closed at 2,492.40, up 0.7 percent from Thursday’s close, while the second-tier Kosdaq came to 886.49, up 0.8 percent. Earlier Friday morning, the Kospi had breached the 2,500 mark, hitting an intraday high of 2,508....

With drummed up expectations for a more stable Korean Peninsula upon the inter-Korean summit on Friday, stocks of South Korean firms related to cross-border businesses have seen sharp gains. The firms are associated with the inter-Korean business initiative pledged by South Korean President Moon Jae-in. Named “New Economic Map of the Korean Peninsula,” it contains plans to jointly develop areas...

South Korea’s Energy minister Paik Un-gyu has ditched a plan to install a household solar power system at his home apartment, in the face of opposition from neighbors in the same building. Paik, a resident of the affluent Gangnam district in southeastern Seoul, attempted to have the power-generating device attached to the apartment building several weeks ago, according to the ministry. The 54-ye...

South Korea’s customs authorities have taken to instant messengers KakaoTalk and Telegram to help whistleblowers anonymously share evidence of the embattled Hanjin owner family’s breach of the law. Recently revealed audio and video clips showing temper tantrums of people alleged to be Cho’s wife and daughter have drawn public criticism, triggering multifaceted probes into the conglomerate by pol...

Standard Chartered Bank Korea’s newly-released airline miles credit card with efficient options that can reward a user free flight tickets to destinations like Southeast Asian nations, in return for spending at least 2 million won ($1,900) each month for a year. Launched in March, the new credit card dubbed “Plus Mile” offers at most bonus 3.5 miles to fly Asiana Airlines or bonus 3 miles with K...

South Korea will bring together the world’s 46 manufacturers of coins, medals and banknotes this week to discuss the future of the minting industry amid the emergence of new technologies across the globe. The state-run coin and bank note manufacturer, Korea Minting and Security Printing & ID Card Operating Corp. (Komsco), will host the biannual Mint Directors Conference from Monday to Thursday, ...

Many Asian countries have long been home to cold noodle dishes, and in contemporary times, they have become a popular way to fight the heat during summer. And in Korea, naengmyeon is the cold noodle dish of choice to fight the humid summer. Long lines of people brave the heat outside for at least 30 minutes to get into Seoul’s top restaurants for cold noodles -- their decades of history keeping ...

Raonsecure, a biometric technology solution provider to financial firms in South Korea, offered a theater presentation at RSA Conference 2018 in San Francisco, California, highlighting the “momentum for overseas business in America,” the company said Thursday. Raonsecure‘s presentation was made on Wednesday along with some 30 companies at the conference. Raonsecure was the only Korean company to...

Recent political rows surrounding the chiefs of the Financial Supervisory Service are expected to put the brakes on the Moon Jae-in administration’s ambitious financial reform drive, while leaving the financial regulator struggling in a leadership void. Speculations, meanwhile, quickly spread Tuesday after the resignation of former lawmaker and civic activist Kim Ki-sik, on who would be the next...

Since April 2016, Lee Min-ho has been an ambassador for state-run Korea Ginseng Corp.’s tonic product Good Base: Red Ginseng & Aronia. Now serving his compulsory military term, Lee has maintained his stint for a third year representing the company’s tonic with extracts of aronia berry, known as “king‘s berry” or “Europe’s equivalent to ginseng.” A KGC official explained that it is allowed by law...

This is the 54th in a series of articles analyzing major companies traded on the tech-heavy Kosdaq market. -- Ed. Living with fine dust has become a new norm for South Koreans, with pedestrians wearing masks and outdoor sports events often being canceled due to poor air quality. Fine dust checking apps bring yet more scientific ways to accurately measure the levels, not to mention air purifiers...

The Financial Supervisory Service Gov. Kim Ki-sik on Friday stressed the need to secure retail investors’ trust in investment funds held by public, in a meeting with chief executives of asset management companies in South Korea, according to the watchdog. In a closed-door meeting with CEOs of 15 asset management companies that took place in headquarters of the Korea Financial Investment Associat...

The prices of cryptocurrency tokens severely fluctuated immediately after being listed on South Korea‘s cryptocurrency exchanges including Bithumb, Thursday. The price of encrypted tokens Mithril and Aelf surged 11,100 percent and 90 percent, respectively, within 30 minutes after Bithumb announced the listing of the tokens at 6 p.m. Thursday. The gains also immediately evaporated. Upon the init...

The Financial Supervisory Service on Thursday launched inspections targeting nonbanking financial companies in South Korea, following its probe on the banking industry. The targets of the probe include 25 life insurance companies, 31 damage insurance firms and eight card companies, as well as savings banks and securities firms. The FSS will reportedly look into evidence of gender discrimination...