The raid was in connection to Samsung Securities’ recent fat finger error in which in accidentally issued shares worth 2.8 billion to its own employees. On Monday, South Korean prosecutors raided the head office of Samsung Securities in relation to the brokerage firm’s recent fat finger error. As reported here earlier, Samsung Securities had accidental…
In the wake of corruption scandal revolving around the Samsung Group Hyundai Mobis has come under investor and government pressure; investors have also criticised the conglomerate of stripping Mobis of valuable assets and favoring the controlling Chung family at the expense of shareholders. As per two sources familiar with the matter at hand, Hyundai Mobis…
Although the exact date of the halting of shares is yet to be disclosed by Samsung Electronics, on Monday, at South Korea’s Kospi index, the conglomerate accounted for nearly 20% of the index’s market capitalization. On Monday, South Korea’s stock exchange stated, trading in Samsung Electronics Co Ltd’s shares, Asia’s fourth most valuable stock, will…
Eyeing booming demand for chips, especially for servers, Samsung has begun investing in a second production facility at Pyeongtaek; it first chip production line at Pyeongtaek began mass production in July 2017. On Wednesday, South Korean news agency Yonhap reported, Samsung Electronics Co has begun investing in a second memory plant at its Pyeongtaek production…
South Korea’s regulators are pushing cryptocurrency traders and exchanges to follow Know-Your-Customer (KYC) procedures to curtail money laundering and other crimes. In a significant development surrounding bitcoins and such cryptocurrencies, from January 30, South Korea will ban the use of anonymous bank accounts for trading in cryptocurrencies. The move is designed to bring to bring…
The strategic move by Hyundai Motor marks a growing trends towards collaborating with strategic partners rather than develop technologies by itself. On Thursday, Hyundai Motor Co stated it has invested an undisclosed amount in Singapore-based ride-hailing firm Grab marking its first ever foray into the fast burgeoning sector as it tries to diversify its sales…
With tightening sanctions, China’s ally, North Korea, is increasingly banking on cryptocurrencies to infuse cash into its economy. In a development that marks the latest signs of North Korea’s search for ways to infuse its economy with cash, a California-based cybersecurity firm disclosed that it has come across software code that appears to install code…
Institutions found not in compliance faces penal measures, including shutting down of operations. On Monday, South Korea’s financial regulator stated it has jointly carried out inspections on six local banks that offer virtual currency services, including opening of accounts, to institutions. In a press conference, South Korea’s Financial Services Commission (FSC) and Financial Supervisory Service…
Among the measures South Korea will take is baning the anonymous opening of cryptocurrency accounts; the measures will also have legislative backing. On Thursday, the South Korean government said, it will impose additional restrictions in order to reign in wild speculation in Bitcoin, a cryptocurrency, that is being traded within the country. “The government had…
While the 1st attack has been linked to North Korea’s spy agency, South Korea’s KISA along with local law enforcement agencies have begun investigating the hack in which 4,000 bitcoins were stolen. On Tuesday, Youbit, a South Korean cryptocurrency exchange disclosed, it was shutting down for bankruptcy following a second hacking attack this year. The…
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