In Moscow, Kim requested Egorov advance pricing arrangements between the two countries quickly and effectively. Russia’s tax agency promised to promptly cooperate, they added. Kim also asked Uzbekistan for its support of South Korean companies facing tax-related problems in the central Asian country, after making visits to the firms who voiced difficulties with taxation amid the prolonged pandem...

Krafton, the South Korean game maker behind global smash hit PlayerUnknown’s Battlegrounds, said Monday that it looks to expand its foothold in the global market through its market debut on the nation’s main board Kospi early next month. “Our goal is to attain a leadership position preemptively in high-growth emerging markets such as India and the Middle East. Krafton’s strategy (for the goal) i...

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 Friday’s closing bell, the mobile messenger giant and its two listed affiliates Kakao Games and Neptune marked an aggregate market cap of 74.84 tri...

KakaoBank, South Korea’s largest internet-only bank, set a record Thursday 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 Wednesday. While institutional investors placed their...

KakaoBank, South Korea’s leading mobile-only bank, said Tuesday that it aims to become the nation’s No. 1 retail bank leading innovation in finance through its market debut on the nation’s main board Kospi next month. “KakaoBank has proved business capacity of a mobile application as it secured 16.15 million users (as of first quarter this year) and turned into the black within 1 1/2 year (after...

After witnessing a string of successful initial public offerings this year, retail investors in South Korea are rushing to trade unlisted shares ahead of their grand market debuts, pinning hopes on large profit-taking. Over-the-counter trading platforms show an upward trend in the prices of unlisted stocks seeking to go public soon due to investors’ stronger demand over early investments on unic...

Kakao Pay, the financial technology arm of mobile giant Kakao, is likely to push back its initial public offering schedule as South Korea’s financial authority asked the company to make some corrections to its prospectus Friday. According to DART, the Financial Supervisory Service’s electronic disclosure board, Kakao Pay was ordered to either add or clarify important information on a prospectus ...

The book-building competition rate of initial public offerings in South Korea has intensified lately, as scores of investors with a growing appetite for expanding financial assets and abundant liquidity have flocked to make deposits for retail subscriptions, data showed Wednesday. Fueled by a recent bull run from the pandemic-hit market, new shares for IPOs were 1,376.9 times oversubscribed on a...

South Korea’s sole bourse operator, the Korea Exchange, and the Eurex Exchange will expand their tradable product range through the Korean won contract starting July 26, officials said Tuesday. Regular trading hours will be set between 6 p.m. and 5 a.m. here. Incomplete contracts from the night session will be transferred to the local bourse operator’s regular derivative market, they said. The ...

Now that the government has placed the Greater Seoul area under Level 4 social distancing rules, the toughest level there is, South Korean stocks are likely to face increased volatility, according to market watchers Monday. Despite investor sentiment worsening, they say the impact on the market will be limited amid hopes for strong second-quarter corporate earnings and promising economic indicat...

President Moon Jae-in has invested 50 million won ($43,700) into major funds intended to support the government’s New Deal project since January this year. About six months later, the funds have drawn more than a 5 percent average return combined, data showed Sunday. According to financial market tracker FN Guide, the five New Deal funds operated by local asset management firms have generated a ...

South Korean social casino game developer and publisher DoubleDown Interactive has accelerated an initial public offering push to debut on the tech-heavy Nasdaq bourse in the US by picking an additional lead manager, its parent company DoubleU Games said Thursday. According to the officials, DoubleDown Interactive chose B. Riley Securities as its new joint underwriter for the IPO along with the ...

South Korean authorities are zeroing in on new types of financial crimes using financial technology platforms and digital assets still operating under vague legal boundaries. Seoul Main Customs, the regional office of the country’s customs agency, said Wednesday that it has discovered unlawful foreign exchange dealings in which dozens of people had tried to take advantage of the “kimchi premium....

South Korea’s benchmark stock index refreshed its record high closing on Tuesday, backed by foreigners and institutional investors’ extending buying sprees for two days. The Kospi index closed at 3,305.21, up 12 points or 0.36 percent, from the previous session’s close. It broke the previous record of 3,302.84 from June 25 but failed to reach as high as its all-time high of 3,316.08 set during i...

South Korean brokerage firms and asset management companies are keeping a close eye on a new virtual world convergence of cutting-edge technologies, amid market expectations of the emerging sector propelling greater growth. The metaverse -- a combination of “meta” and “universe” -- refers to a virtual world shared by people in the real world. It has rapidly emerged as a major trend for companies...